Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail, Government & Transportation and Others) and Competitive Landscape.
|Product Code: ETC002474||Publication Date: Feb 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
Nigeria POS Terminal Market has been experiencing growth in recent years, driven by the increasing adoption of cashless payment systems and government support to promote financial inclusion. Moreover, mobile POS terminals have become increasingly popular in Nigeria due to their affordability and portability. The growth of e-commerce in Nigeria has also contributed to the increased adoption of POS terminals. Overall, the Nigeria POS terminal market is expected to continue to grow as more people are adopting cashless payment systems. With the rise of e-commerce and the growing popularity of online shopping, there has been an increasing demand for card payments in Nigeria. This factor has further boosted the demand for POS Terminals in Nigeria.
Further, the retail sector is growing on the back of rising disposable incomes and increasing urbanization. Also, with the development of new technologies, POS terminals have become more sophisticated and user-friendly. Apart from this, mobile payment solutions, such as mobile wallets and QR code payments, are becoming popular in Nigeria which is likely to drive market growth.
Nigeria POS terminal market is expected to register considerable growth principally due to the increase in the number of merchants using POS terminals in the country. Based on a POS analysis report presented by the Nigerian Inter-Bank Settlement System (NIBSS) in 2018, POS usage in Nigeria has witnessed consistent growth over the past few years. The total number of successful transactions has grown significantly in Nigeria. Based on the report, the total number of recorded active merchants totalled 122,261, whereas, the total number of active terminals totalled 144,461. Additionally, in 2018, wholesale, retail, and fast food remained the key sectors which have recorded the maximum usage of POS terminals. Further, fuel stations have also registered significant growth in POS adoption in Nigeria.
According to 6Wresearch, Nigeria POS Terminal Market is projected to witness growth during 2020-2026. Growing initiatives towards digitization of banking services, rising usage of POS terminals in retail, wholesale, tourism and fast food sector, growth of E-Commerce as well as improvement in payment infrastructure in Nigeria are some of the key growth drivers of the POS terminal market in Nigeria. However, the Nigeria POS terminal market is expected to witness a slowdown at the beginning of the year 2020 due to the outbreak of the Covid-19 pandemic and the market is expected to recover gradually over the next few years.
Based on applications, the healthcare application is observing significant demand for POS terminals due to the outbreak of the Covid-19 pandemic in Nigeria as hospitals have witnessed huge online and mobile-based payments from patients. Whereas, in terms of type, portable and mobile POS terminals are registering significant growth in Nigeria. Additionally, the hospitality application is leading the overall Nigeria POS terminal market due to increased spending on travelling services by tourists in the country.
The Nigeria POS terminal report thoroughly covers the market by type, by end-users, and by regions. Nigeria POS terminal market outlook report provides an unbiased and detailed analysis of the ongoing Nigeria POS terminal market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.
The Nigeria POS terminal market report provides a detailed analysis of the following market segments:
|1. Executive Summary|
|2.1. Report Description|
|2.2. Key Highlights of The Report|
|2.3. Market Scope & Segmentation|
|2.4. Research Methodology|
|3. Nigeria POS Terminal Market Overview|
|3.1. Nigeria POS Terminal Market Revenues, 2016-2026F|
|3.2. Nigeria POS Terminal Market Revenue Share, By Types, 2019 & 2026F|
|3.3. Nigeria POS Terminal Market Revenue Share, By End Users, 2019 & 2026F|
|3.4. Nigeria POS Terminal Market Revenue Share, By Regions, 2019 & 2026F|
|3.5. Nigeria POS Terminal Market Industry Life Cycle|
|3.6. Nigeria POS Terminal Market- Porter’s Five Forces|
|4. Nigeria POS Terminal Market Dynamics|
|4.1. Impact Analysis|
|4.2. Market Drivers|
|4.3. Market Restraints|
|5. Nigeria POS Terminal Market Trends|
|6. Nigeria POS Terminal Market Overview, By Types|
|6.1. Nigeria POS Terminal Market Revenues, By Portable, 2016-2026F|
|6.2. Nigeria POS Terminal Market Revenues, By Countertop, 2016-2026F|
|6.3. Nigeria POS Terminal Market Revenues, By Mobile POS, 2016-2026F|
|6.4. Nigeria POS Terminal Market Revenues, By PIN PAD, 2016-2026F|
|6.5. Nigeria POS Terminal Market Revenues, By Multimedia, 2016-2026F|
|7. Nigeria POS Terminal Market Overview, By End Users|
|7.1. Nigeria POS Terminal Market Revenues, By Hospitality, 2016-2026F|
|7.2. Nigeria POS Terminal Market Revenues, By Retail, 2016-2026F|
|7.3. Nigeria POS Terminal Market Revenues, By Government and Transportation, 2016-2026F|
|7.4. Nigeria POS Terminal Market Revenues, By Healthcare, 2016-2026F|
|7.5. Nigeria POS Terminal Market Revenues, By Others, 2016-2026F|
|8. Nigeria POS Terminal Market Overview, By Regions|
|9. Nigeria POS Terminal Market Key Performance Indicators|
|10. Nigeria POS Terminal Market Opportunity Assessment|
|10.1. Nigeria POS Terminal Market, Opportunity Assessment, By Type, 2026F|
|10.2. Nigeria POS Terminal Market, Opportunity Assessment, End Users, 2026F|
|10.3. Nigeria POS Terminal Market, Opportunity Assessment, Regions, 2026F|
|11 Nigeria POS Terminal Market Competitive Landscape|
|11.1. Nigeria POS Terminal Market Competitive Benchmarking, By Companies, 2019|
|11.2. Nigeria POS Terminal Market Revenue Share, By Operating Parameters, 2019|
|12. Company Profiles|
|13. Key Strategic Recommendations|