According to a Smart Insights Report, mPOS shipments are expected to keep growing in the next years at a CAGR of 40% between 2013 and 2018, leading to 52.1 million mPOS units to be shipped in 2018.
APAC will be the region experiencing the fastest growth throughout the years, despite mPOS deployment in this zone starting slower and later than in the US and Europe.
mPOS shipments growth will be driven primarily by a large number of merchants adding mPOS solutions to their existing POS solutions. As the technology evolves and becomes more mature, mPOS solutions will become viable solutions for merchants willing to completely replace their solutions.
The growth of mPOS will lead the traditional POS industry to lose 9.7 million units in shipments in 2018, representing a 30% attrition. mPOS shipments are forecasted to pass the number of POS shipments for the first time in 2016. And, in 2018, the installed base of mPOS will be larger than the installed base of POS terminals worldwide.
“The mPOS industry has been attracting numerous new entrants, who propose a wide palette of services and business models,” says Thierry Spanjaard, CEO of Smart Insights.
“However, we believe restructuring will happen soon, and the number of mPOS vendors is bound to shrink while the mPOS market develops. This will lead to stronger mPOS vendors, who will represent a growing threat to the traditional players.”