DUBLIN, July 10, 2020 /PRNewswire/ -- The "POS Terminals and Wireless M2M - 4th Edition" report has been added to ResearchAndMarkets.com's offering.
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 161 million units in 2019. 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.
Cellular connectivity has become a very popular option for POS terminals and was incorporated in 44 percent of the devices shipped in 2019. 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 66 million in 2019. The analyst forecasts a CAGR of 9.5 percent between 2019 and 2024, resulting in a total of 103.7 million cellular POS terminals at the end of the forecast period.
The market for NFC-ready POS terminals continued to display strong momentum in 2019 with annual shipments reaching an estimated 47.8 million units worldwide. The attach rate for NFC was highest in EU28+2 and North America, where 94 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. While the installed base of NFC-ready POS terminals has grown quickly, some of the terminals do still not have the contactless features turned on. The analyst estimates that approximately 70 million POS terminals accepted contactless payments with Visa payWave, MasterCard PayPass, or UnionPay Quickpass at the end of 2019.
The mPOS terminal market is today growing faster than the traditional POS terminal market and the analyst projects that the installed base of mPOS terminals worldwide will grow from 69 million units in 2019 to reach 113 million units by 2024. The installed base of NFC-ready mPOS terminals grew to 38.6 million units during 2019 as NFC penetration reached 56 percent worldwide. The analyst forecasts that the installed base of NFC-ready mPOS terminals will grow at a CAGR of 20 percent between 2019 and 2024 to reach 96.1 million units at the end of the forecast period.
Highlights from the fourth edition of the report:
- Detailed analysis of the payments industry
- Summary of the latest industry trends and developments
- Updated in-depth profiles of key players in the POS and mPOS terminal markets
- Reviews of vendor market shares and competitive dynamics
- Perspectives on the impact of mobile wallet services
- Extensive global and regional market forecasts lasting until 2024
This research report answers the following questions:
- What is the potential market size for wireless M2M communication in the retail industry?
- Which trends and developments are shaping the market?
- How many of the NFC-ready terminals have the contactless capabilities turned on?
- What are the market shares for the leading POS terminal vendors?
- How will emerging mobile wallet services affect the market?
- What is the attach rate for cellular connectivity in POS terminals by region?
Key Topics Covered
1.1 The card payments industry
1.1.1 The transaction process in card payments
1.1.2 Costs of a card payment transaction
1.1.3 Revenue distribution in the card payments industry
1.1.4 Card payments and household consumption expenditures
1.1.5 Breakdown of household consumption expenditures
1.1.6 Card payment volumes
1.2 The POS terminal market
1.2.1 POS terminal market data
1.2.2 POS terminal form factors
2 Wireless M2M and NFC
2.1 Evolution of electronic payments
2.1.1 EMV migration
2.1.2 Adoption of cellular IoT communications
2.1.3 Rollout of NFC-ready terminals
3 POS terminal vendors
3.1 Vendor profiles and strategies
3.1.3 Castles Technology
3.1.6 Dspread Technology
3.1.7 Equinox Payments
3.1.8 ID Tech
3.1.10 Itron Electronics
3.1.12 Newland Payment Technology
3.1.14 PAX Technology
3.1.15 REA Card
3.1.16 Spire Payments
3.1.17 SZZT Electronics
4 Forecasts and conclusions
4.1 Market trends and drivers
4.1.1 Steady uptake of wireless M2M
4.1.2 NFC has become ubiquitous
4.1.3 POS terminal app stores are a potential game-changer
4.1.4 New technologies can transform the shopping experience
4.1.5 The mPOS market segment is growing fast
4.2 Market forecasts
4.2.1 Cellular POS terminal market forecast
4.2.2 NFC-ready POS terminal market forecast
4.2.3 NFC-ready mPOS terminal market forecast
For more information about this report visit https://www.researchandmarkets.com/r/i13l89
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