Market Research Report
POS Terminals and Wireless M2M - 3rd Edition
|Published by||BERG Insight||Product code||324589|
|Published||Content info||45 Pages
Delivery time: 1-2 business days
|POS Terminals and Wireless M2M - 3rd Edition|
|Published: July 10, 2018||Content info: 45 Pages||
Cellular connectivity has become a popular option for POS terminals and the installed base of cellular POS terminals reached 37.7 million worldwide in 2017. Berg Insight forecasts a CAGR of 10.1 percent between 2017 and 2022, resulting in a total of 61.0 million cellular POS terminals at the end of the forecast period. The market for NFC-ready POS terminals also continued to display strong momentum in 2017 with annual shipments reaching an estimated 24.7 million units worldwide. The report is also forecasting the fast growing mPOS market. Get up to date with the latest information about vendors, products and markets. This report is available in PDF format only.
The world is continuously shifting from coin and paper-based payments such as cash and cheques to electronic forms such as payment cards and mobile phone payments. As a part of this evolution, POS terminals are becoming more and more common in all parts of the world. The global installed base of POS terminals grew to almost 109 million units in 2017. Market growth is primarily fuelled by the increasing adoption of electronic payments in emerging markets. Developed markets are relatively saturated in terms of POS terminal adoption. In addition, the mPOS terminal market is today growing even faster and Berg Insight forecasts that the installed base of mPOS terminals worldwide will grow from 34 million units in 2017 to reach 86 million units by 2022.
Cellular connectivity has become a very popular option for POS terminals and was incorporated in 38 percent of the devices shipped in 2017. The wireless technology has an important role in facilitating the global adoption of electronic payments, as it enables the rollout of POS terminals to many new market segments and parts of the world where the fixed line telecommunications infrastructure is less developed. The installed base of cellular POS terminals reached 37.7 million in 2017. Berg Insight forecasts a CAGR of 10.1 percent between 2017 and 2022, resulting in a total of 61.0 million cellular POS terminals at the end of the forecast period.
The market for NFC-ready POS terminals continued to display strong momentum in 2017 with annual shipments reaching an estimated 24.7 million units worldwide. The attach rate for NFC was highest in EU28+2 and North America, where 90 percent and 88 percent of the POS terminals shipped featured NFC respectively. NFC was also a very popular feature in many other major markets worldwide including Brazil, Turkey and China. While the installed base of NFC-ready POS terminals has grown quickly, many of the terminals do still not have the contactless features turned on. Berg Insight estimates that approximately 30.0 million POS terminals accepted contactless payments with Visa payWave, MasterCard PayPass or UnionPay Quickpass at the end of 2017.