Forecast: Number of POS Terminals in China

The number of POS terminals in China expanded significantly from 2013 to 2023, growing from 10.63 million to 44.39 million units. The early years of this timeframe saw exponential growth rates of over 40%, driven by the surge in digital payment adoption and retail modernization efforts. However, year-on-year growth rates have decelerated since 2016, with a notable slowdown to 4.99% in 2023. This trajectory is further supported by a decreasing compounded annual growth rate (CAGR), dropping from 47.62% in 2014 to 5.39% in 2023.

From 2024 onwards, the growth in POS terminals is projected to continue its deceleration, with a forecasted CAGR of 3.18% over the next 5 years and an expected growth rate of 16.93% by 2028. As of 2023, the volume stood at 44.39 million units.

Future trends to watch for:

• Continued adoption of mobile and contactless payment systems, potentially reducing the demand for traditional POS terminals.
• Implementation of advanced technologies such as AI and IoT in POS systems, enhancing data analytics capabilities and customer experience.
• Regulatory developments and cybersecurity measures impacting the deployment and operation of POS terminals.