The latest report from Berg Insights has revealed what’s the size of mobile POS installed base and growth trends in recent years.
The global shift from cash and cheques to electronic payments continues to accelerate, driven notably by the COVID-19 pandemic. In 2023, the worldwide installed base of POS terminals reached nearly 292 million units, with growth largely driven by increased electronic payment adoption in emerging markets, while developed markets are nearing saturation. The mobile POS (mPOS) segment is also expanding, with the installed base expected to rise from 110 million units in 2023 to 152 million by 2028.
Cellular connectivity has become increasingly prevalent in POS devices, with 53 percent of terminals shipped in 2023 incorporating this feature. The installed base of cellular POS terminals reached 146.1 million units in 2023 and is projected to grow at a CAGR of 9.4 percent, reaching 229.3 million by 2028. This wireless capability is key in supporting electronic payment adoption in regions with limited fixed-line infrastructure.
NFC-enabled POS terminals also saw strong growth, with global shipments estimated at 110.7 million units in 2023. Europe and North America led with a 99 percent NFC attach rate, and adoption was high in countries like Brazil, Turkey, and China.
Meanwhile, Android-based POS terminals surged in popularity, accounting for 40 percent of units sold in 2023. Leading manufacturers in this space included Sunmi, Tianyu, Pax Technology, Verifone, Castles Technology, Ingenico, Landi, and Newland Payment Technology.
A notable emerging trend is SoftPOS, a software-based solution that transforms smartphones or tablets into payment terminals. While adoption remains below 10 million devices globally, the category presents a promising growth opportunity due to its accessibility and minimal hardware requirements.
InfotechLead.com News Desk
