New terminals of 1,950 per quarter is an annual rate of 3.12% increase in TAM. New terminals in last 3 quarters were 1,200, 1,600 and latest 1,950. If the number of new terminals keeps on increasing they will get to an annual increase of 3.5% to 4% of TAM which is between 2,200 to 2,500 new terminals each quarter sometime this year.
That is 10% of TAM is way too low. 20% target of TAM is more realistic.
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