NFC POS terminals grow strongly mPOS grows faster than traditional POS terminals

The NFC POS Terminal Equipment Market continued to show strong growth in 2017, with around 24.7 million shipments a year, according to a new study by Berg Insight, an international market research institute.

NFC is the highest placement rate in Europe and North America, with 90% and 88% per cent of POS terminals supporting NFC technology. NFC is also a very popular technology in many of the world’s major markets, including Brazil, Turkey and China.

In China, according to relevant data of China unionpay, by the end of 2017, the total number of NFC POS terminals in China exceeded 13 million, and about 33,000 self-service terminals supporting unionpay, including 17,000 terminals supporting financial IC CARDS and NFC flash payment.

In 2017, nearly 3 of every 5 POS terminals in the world adopted NFC technology.

According to Berg Insight, global NFC POS terminal devices will grow at a compound annual growth rate of 15.6 percent, reaching 123 million units by 2022.

NFC POS will occupy more than 78% of the global POS terminals, up from 50% in 2017. Despite the rapid growth of NFC POS terminals, in many cases non-contact technology has not been activated.

However, this situation is changing, Berg Insight estimates, at the end of 2017, about 30 million POS terminals to support Visa PayWave, MasterCard or UnionPay flash pay of contactless.

Johan Fagerberg, chief analyst at Berg Insight, said: “The MPOs end market is growing faster than the traditional POS terminals, with more than 70 mpos suppliers active in the global marketplace.” ”

On the other hand, the global NFC placement rate in the mPOS market reached 53% in 2017, and the mPOS terminals with NFC functions were shipped with 9.7 million units.

Berg Insight predicts that global shipments of mPOS terminals with NFC capabilities will grow at a compound annual growth rate of 28.9 percent over the next five years, reaching 34.5 million units by 2022.