From 2013 to 2023, the number of POS terminals in South Africa grew from 308.82K to 464.98K units. The growth trend was significant in the early years, with a peak YoY increase of 27.54% in 2014, but it slowed down considerably thereafter. The average annual growth rate over the last five years (2018-2023) was 2.17%. For 2023, the value stood at 464.98K units, indicating a 2.2% increase from the previous year.
Future Trends to Watch:
- The forecasted growth from 2024 to 2028 indicates a steadier, slower increase with an anticipated CAGR of 1.52%.
- Market saturation and technological advancements such as mobile payments and contactless transactions could influence the number of POS terminals.
- Economic factors and the adoption rate of digital payment solutions will be key determinants in future trends.
