Forecast: Number of POS Terminals in Saudi Arabia

The number of POS terminals in Saudi Arabia has shown significant growth from 2013 to 2023. In 2023, the number stood at 438.73 thousand units. The growth since 2013 was remarkable, with the initial years showing higher annual and compound annual growth rates. However, a notable deceleration has been observed in recent years. For instance, the year-on-year growth rate dropped from 16.45% in 2013 to 4.59% in 2023, with the CAGR also slowing down to 4.52% over the last five years.

Future trends to watch for:

• With the forecasted CAGR of 2.95% for the next five years, the growth rate will continue to decelerate but will still show an overall upward trend.
• The total number of POS terminals is expected to reach 529.3 thousand units by 2028, indicating a steady, though slower, increase in adoption.
• Technological advancements and regulatory changes in the payment industry could drive further growth and impact market dynamics.