Connected POS terminals sector to grow at 10.2% annually
Cellular connectivity has become a popular option for POS terminals and the installed base of cellular POS terminals reached 104 million worldwide in 2021. The analyst forecasts a CAGR of 10.2 percent between 2021 and 2026, resulting in a total of 168 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 2021 with annual shipments reaching an estimated 75 million units worldwide. The report also forecasts the mPOS market. Get up to date with the latest information about vendors, products and markets.
According to the report, the market for NFC-ready POS terminals continued to show strong momentum in 2021 with annual shipments reaching an estimated 75.3 million units worldwide. The attach rate for NFC was highest in EU27+3 and North America, where 98 percent of the POS terminals shipped featured NFC. NFC was also a very popular feature in many other major markets worldwide, including Brazil, Turkey and China.
On a global basis, about 80 percent of the POS terminals shipped in 2021 included NFC. The analyst projects the global installed base of NFC-ready POS terminals will grow at a compound annual growth rate (CAGR) of 11.6 percent from 168.7 million units in 2021 to 291.9 million units in 2026. As a result, more than 93 percent of the world’s POS terminals will be NFC-ready in 2026, up from 73 percent in 2021.
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