India POS Device Market Top Key Players, Demands, Trends and Forecasts to 2027
The latest research study “India POS Device Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India POS device market is expected to exhibit a CAGR of XX% during 2022-2027.
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Industry Definition and Application:
A point-of-sale (POS) device refers to an electronic instrument that allows businesses to accept payments via debit and credit cards and manage operations. It comprises tablets, mobiles, card and chip readers, touch screens, smartphones, computers, self-service kiosks, and terminals. A POS device is easy to use and considered ideal for indoor and home delivery services as it requires low space with no maintenance costs. As a result, a POS device finds widespread applications across various sectors, such as retail, e-commerce, hospitality, food and beverage (F&B), media and entertainment, healthcare, BFSI, etc.
India POS Device Market Trends and Drivers:
The extensive utilization of near-field communicative (NFC) appliances for faster payments and reducing human errors is among the primary factors driving the India POS device market. Besides this, the considerable shift of individuals towards digital modes of expenditure for goods and services is further augmenting the market growth. Moreover, the escalating demand for POS devices to streamline the operational e-commerce platforms and enable businesses to sell items online and in-store quickly is also catalyzing the market across India. Apart from this, these machines assist in creating customer profiles automatically with every card transaction and monitoring important buyer information and purchase history, which is acting as another significant growth-inducing factor. Additionally, the launch of several policies by the government bodies to promote digital payment to make the country a cashless economy by establishing micro automated teller machines (ATMs) is also stimulating the market growth. Furthermore, the rising integration of artificial intelligence (AI) in these instruments is anticipated to propel the India POS device market over the forecasted period.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Component:
• Hardware
• Software
• Services
Breakup by Terminal Type:
• Fixed POS Terminals
• Mobile POS Terminals
Breakup by Business Size:
• Turnover < 5 Million INR
• Turnover 5 Million INR – 50 Million INR
• Turnover 50 Million INR and Above
Breakup by Industry Vertical:
• Retail
• Hospitality
• BFSI
• Media and Entertainment
• Warehouse
• Healthcare
• Others
Breakup by Region:
• North India
• West and Central India
• South India
• East India
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