December 06, 2021 08:04 ET | Source: Research and Markets Research and Markets
Dublin, Dec. 06, 2021 (GLOBE NEWSWIRE) -- The "POS Terminals and Wireless M2M - 5th Edition" report has been added to ResearchAndMarkets.com's offering.
The world is continuously shifting from the coin and paper-based payments such as cash and cheques to electronic forms such as payment cards and mobile phone payments. The has accelerated in the past two years due to the COVID-19 pandemic.
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 207 million units in 2020. 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 fast and it is forecast that the installed base of mPOS terminals worldwide will grow from 80 million units in 2020 to reach 127 million units by 2025.
Cellular connectivity has become a very popular option for POS terminals and was incorporated in 46 percent of the devices shipped in 2020. 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 89.8 million in 2020. A CAGR of 11.8 percent is forecast between 2020 and 2025, resulting in a total of 156.6 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 2020 with annual shipments reaching an estimated 67 million units worldwide. The report also forecasts the mPOS market. Get up to date with the latest information about vendors, products and markets.
This report answers the following questions:
Who should read this report?
POS Terminals and Wireless M2M is the foremost source of information about the adoption of wireless IoT solutions in the payments industry. Whether you are a device vendor, service provider, telecom operator, investor, consultant, or government agency, you will gain valuable insights from our in-depth research.
For more information about this report visit https://www.researchandmarkets.com/r/7xtl5m
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