The value of POS transactions at terminals in Saudi Arabia has shown steady growth from 2013 to 2023, with some fluctuations. In 2020, there was a notable decline of 13.44% due to the pandemic's economic impact. However, the market rebounded strongly in 2021 with a 31.6% increase, reaching $63.72 billion. By 2023, this value stood at $65.26 billion, reflecting a modest year-on-year growth of 3.59%. The 5-year CAGR from 2018 to 2023 is 4.06%, indicating moderate, consistent growth.
Future forecasts suggest continued growth at a slower pace, with a projected 5-year CAGR of 2.59% from 2024 to 2028. By 2028, the value is expected to reach approximately $77.24 billion, representing a total growth of 13.66% over 5 years.
Future trends to watch for:
- Potential impacts of digital and mobile payment technologies on POS transaction values.
- The influence of economic policies and regulatory changes in Saudi Arabia.
- Consumer behavior shifts post-pandemic and their effect on in-store versus online transactions.
