Worldwide Point-of-Sale (POS) Shipments Increase 14.0% in 2022
2023 Shipment Growth More Muted Due to Higher Interest Rates
NASHVILLE, Tenn. – February 23, 2023 – Worldwide shipments of point-of-sale terminals experienced strong double-digit growth in 2022, according to new research from IHL Group. The strongest growth region was in Latin/South America with a 26.5% increase in shipments, with the slowest region being Asia/Pacific at 11.1% growth.
“In every region 2022 showed significant growth as chip shortages were reduced and retailers upgraded systems to support new software solutions that support orders from multiple channels,” said Greg Buzek, President of IHL Group. “Growth in both North America (+14%) and Europe/Middle East/Africa (11.8%) was strong, the Asia/Pacific numbers would have been much stronger has multiple COVID lockdowns not affected shipments and installs.”
According to the research, these were the highest growing vertical segments for POS shipment growth worldwide:
- Hospitality +17.8%
- Convenience/Gas/Forecourt +15.6%
- Specialty Stores +13.9%
Looking forward to 2023, the market is facing higher interest rates and tough comparisons. As well, headwinds from the ongoing war in Ukraine and slowing economies will negatively impact shipment growth, but IHL predicts that shipments will be positive for each region once again as so many units are overdue for replacement.
With this announcement, IHL is releasing two complementary research products. The POS Terminal Hardware Share which looks at shipments by technology vendor by segment in each region of the world. This is a quantitative view of the market by vendors such as HP, NCR, Toshiba Global Commerce Solutions, Diebold-Nixdorf, Oracle, Fujitsu, Elo and others that tracks data by quarter. A companion report for North America is also being released today with trends, barriers, segment differences and forecasts through 2027.
Both studies are available immediately at https://www.ihlservices.com/product-category/research-products/
About IHL Group
IHL Group is a global research and advisory firm headquartered in Franklin, Tennessee, that provides market analysis and business consulting services for retailers and information technology companies that focus on the retail industry. For more information, see staging.ihlservices.com, call 615-591-2955 or e-mail firstname.lastname@example.org.
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