POS Device Shipments Slip 3 Percent in 2024

Global Point-of-Sale (POS) device shipments fell 3% in 2024, according to Counterpoint Research. The decline was mainly due to the weight of mature markets in developed regions and muted global demand amid an unfavourable macroeconomic environment.

China leads the global POS device market with a 45% shipment share, fueled by widespread adoption of mobile wallets and QR code-based payments, which is driving strong demand for mPOS devices. Chinese OEMs dominate the global POS market, with Newland, PAX Global Technology, Centerm, Tianyu, Vanstone (Aisino), and New POS Technology among the top players by shipment volume. Emerging markets such as India, the Middle East & Africa, and Latin America are projected to see robust growth, supported by government-led digitization initiatives and improving payment infrastructure. India, in particular, is projected to be the fastest-growing market, driven by rapid retail expansion and digital payment adoption.

“Cellular connectivity has become a convenient connectivity option for POS devices and is increasingly being adopted in newly deployed and replacement POS devices. Cellular POS devices have overtaken non-cellular ones and are projected to reach 77% of global shipments by 2032. The global shift towards wireless mobile transactions, contactless payments, and real-time analytics is driving the replacement of cellular and Wi-Fi-enabled POS devices. This offers merchants robust connectivity, crucial for today’s fast-paced retail environments and uninterrupted payment processing,” said Hanumant Pawar, Research Analyst at Counterpoint Research.

Enhanced mobility in digital payment solutions is a key trend shaping the POS market, driven by evolving consumer behavior for speed, convenience, and contactless experiences, particularly in service-centric sectors such as restaurants and hospitality, where mobility is essential. Small and Medium Businesses (SMBs), at the forefront of digital adoption, are rapidly embracing mobile POS (mPOS) solutions to meet these changing demands. The COVID-19 pandemic accelerated the consumer adoption of electronic payment for safety reasons, forcing businesses to acquire mPOS devices to bring the payment device closer to customers.

As mPOS adoption scales, cellular connectivity, especially 4G Cat 1 bis, has become the preferred choice for POS OEMs. Its affordability, wide network availability, and streamlined design make it ideal for portable, always-connected payment devices. This enables merchants to accept payments anywhere, without dependence on fixed-line infrastructure or Wi-Fi. Today’s mPOS systems leverage diverse connectivity options to offer secure, agile, and scalable payment experiences. By reducing hardware costs and simplifying deployment, mPOS has become a mainstream solution for businesses of all sizes. Its affordability, scalability, and strong security are fueling widespread adoption across retail and service industries.