India POS Device Market Overview 2023-2028
The India POS device market size reached US$ 428.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 887.2 Million by 2028, exhibiting a growth rate (CAGR) of 12.5% during 2023-2028.
A point of sale (POS) device is a hardware and software system that enables businesses to complete financial transactions and manage sales operations. It comprises a terminal with a touchscreen display, a cash register, a barcode scanner, a receipt printer, and software that integrates with payment processors and other business tools. It serves as the central hub for processing payments, tracking inventory, generating reports, and managing customer information. As it streamlines the checkout process, improves efficiency, and provides valuable insights into customer behavior and inventory management, the demand for POS device is rising in India.
India POS Device Market Trends and Drivers:
At present, the rising demand for POS devices among organizations seeking reliable and secure solutions to enhance customer experience represents one of the key factors supporting the growth of the market in India. In addition, various initiatives by the Government of India, such as Jan Dhan Yojana and Aadhaar-enabled payments, are increasing the penetration of banking services across the country, leading to a rise in digital transactions. This, in turn, is catalyzing the demand for POS devices as businesses are catering to the growing number of customers opting for cashless payments. Furthermore, the increasing popularity of online shopping is encouraging traditional brick-and-mortar retailers to adapt and offer omnichannel experiences, which is bolstering the growth of the market in the country.
The report segmented the market on the basis of region, component, terminal type, business size and industry vertical.
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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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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