Nigeria POS Terminal Market (2020-2026) | Share, Size, Revenue, Analysis, Forecast, Trends, Growth, industry, Outlook & COVID-19 IMPACT

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

Latest 2023 Development of the Nigeria POS Terminal Market

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 Synopsis

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.

Key Highlights of the Report:

  • Nigeria POS Terminal Market Overview
  • Nigeria POS Terminal Market Outlook
  • Nigeria POS Terminal Market Forecast
  • Nigeria POS Terminal Market Size and Nigeria POS Terminal Market Forecast Until 2026
  • Nigeria POS Terminal Market Share, By Types
  • Nigeria POS Terminal Market Share, By End Users
  • Nigeria POS Terminal Market Share, By Regions
  • Historical Data of Nigeria POS Terminal Market Revenues and Volume for the period, 2016-2019
  • Market size and Forecast of Nigeria POS Terminal Market Revenues and Volume Until 2026
  • Historical Data of Nigeria POS Terminal Market Revenues and Volume, By Types, for the Period 2016-2019
  • Market size and Forecast of Nigeria POS Terminal Market Revenues and Volume, By Types, Until 2026
  • Historical Data of Nigeria POS Terminal Market Revenues and Volume, By End Users, for the Period 2016-2019
  • Market size and Forecast of Nigeria POS Terminal Market Revenues and Volume, By End Users, Until 2026
  • Historical Data of Nigeria POS Terminal Market Revenues and Volume, By Regions, for the Period 2016-2019
  • Market size and Forecast of Nigeria POS Terminal Market Revenues and Volume, By Regions, Until 2026
  • Nigeria POS Terminal Market Drivers and Restraints
  • Nigeria POS Terminal Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Nigeria POS Terminal Market Opportunity Assessment
  • Nigeria POS Terminal Market Revenue Share, By Company
  • Nigeria POS Terminal Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The Nigeria POS terminal market report provides a detailed analysis of the following market segments:

By Type

  • Portable
  • Countertop
  • Mobile POS
  • PIN Pad
  • Multimedia

By End Users

  • Hospitality
  • Retail
  • Government & Transportation
  • Healthcare
  • Others
Nigeria POS Terminal Market: FAQs
Collaborations and partnerships, increasing awareness regarding the benefits of POS, and technological advancements are the major growth factors for the market.
In general, countertop, mobile, portable, and integrated POS terminals are the various types of POS terminals in Nigeria.
Typically, POS terminals provide numerous benefits for businesses which includes faster and more secure payment processing, better inventory management, and increased sales.
High costs associated with POS terminals, limited access to financial services, and security concerns are some of the challenges faced by the market.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1. Executive Summary
2. Introduction
2.1. Report Description
2.2. Key Highlights of The Report
2.3. Market Scope & Segmentation
2.4. Research Methodology
2.5. Assumptions
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
14. Disclaimer

Kenya POS Terminal Market (2020-2026): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail,  Government & Transportation and Others) and by Competitive Landscape.

Qatar POS Terminal Market (2020-2026): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail,  Government & Transportation and Others) and by Competitive Landscape.

Kuwait POS Terminal Market (2020-2026): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail,  Government & Transportation and Others) and by Competitive Landscape.

Algeria POS Terminal Market (2020-2026): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail,  Government & Transportation and Others) and by Competitive Landscape.

Saudi Arabia POS Terminal Market (2020-2026): 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

India POS Terminal Market (2020-2026): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality, Healthcare, Retail,  Government & Transportation and Others) and by Competitive Landscape

Europe Point of Sale (POS) Market (2019-2025): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality & Healthcare, Retail & E-Commerce, Government & Transportation and Others), By Countries (Germany, UK, France, Italy and Rest of Europe) and Competitive Landscape.

Middle East & Africa (MEA) Point of Sale (POS) Market (2019-2025): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality & Healthcare, Retail & E-Commerce, Government & Transportation and Others), By Countries (Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Oman, Turkey, Egypt, South Africa, Nigeria and Rest of MEA) and Competitive Landscape.

North America Point of Sale (POS) Market (2019-2025): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality & Healthcare, Retail & E-Commerce, Government & Transportation and Others), By Countries (US, Canada and Rest of North America) and Competitive Landscape.

Global Point of Sale (POS) Market (2019-2025): Market Forecast By POS Terminal Types (Portable, Countertop, Mobile POS, PIN Pad & Multimedia), By End Users (Hospitality & Healthcare, Retail & E-Commerce, Government & Transportation and Others), By Regions (Asia Pacific, Europe, North America, Middle East & Africa and Rest of World), By Key Countries and Competitive Landscape

 

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