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.
The demand for point of sale (POS) devices in India is on the rise. These devices are a combination of hardware and software that facilitate financial transactions and sales management for businesses. They consist of a terminal featuring a touchscreen display, a cash register, a barcode scanner, a receipt printer, and software that integrates with payment processors and other business tools. Acting as a central hub, POS devices handle payment processing, inventory tracking, report generation, and customer information management. By streamlining the checkout process, enhancing efficiency, and offering valuable insights into customer behavior and inventory management, POS devices are becoming increasingly popular in India.
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India POS Device Market Trends and Drivers:
Currently, the market for POS devices in India is experiencing significant growth due to several factors. One key factor is the growing demand from organizations that are seeking reliable and secure solutions to improve customer experience. Additionally, the Government of India has introduced various initiatives such as Jan Dhan Yojana and Aadhaar-enabled payments, which have led to increased access to banking services and a surge in digital transactions nationwide. As a result, businesses are witnessing a higher demand for POS devices as they cater to the rising number of customers who prefer cashless payments.
Moreover, the rise in online shopping has also played a role in the market’s expansion. Traditional brick-and-mortar retailers are embracing this trend and adapting their businesses to offer omnichannel experiences. This shift in consumer behavior has further fueled the growth of the POS device market in India.
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
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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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