Forecast: Number of POS Terminals in Singapore

The number of POS terminals in Singapore has shown a consistent upward trend from 2013 to 2023. In 2023, the total stood at 331.71 thousand units, marking a noteworthy increase over the preceding years. The year-on-year variation has moderated somewhat, with a 4.03% increase from 2022 to 2023 compared to higher variations in earlier years such as 37.25% from 2016 to 2017. Looking at the Compound Annual Growth Rate (CAGR) over the past five years, it averaged at about 4.08%, indicating a steady, albeit slightly slowing, growth trajectory. The forward-looking forecast from 2024 to 2028 anticipates a CAGR of 2.64%, projecting that the total will reach approximately 392.28 thousand units by 2028, reflecting a 13.93% cumulative increase over the period.

Future trends to watch for:

• Adoption of new payment technologies could further invigorate growth.
• Market saturation points could slow down annual increases.
• Economic conditions and technological advancements in payment processing will play pivotal roles.