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 or POS device is an electronic device that enables businesses to accept payments via debit and credit cards and manage various operations. It encompasses a range of devices such as smartphones, tablets, mobile POS systems, card and chip readers, touch screens, computers, self-service kiosks, and terminals. The POS device is user-friendly and well-suited for indoor use and home delivery services, as it requires minimal space and has no maintenance costs. It ensures facilitate faster payments and reduce human errors. Consequently, it finds widespread application across numerous sectors in India, including retail, e-commerce, hospitality, food and beverage (F&B), entertainment, and healthcare.
India POS Device Market Trends and Drivers:
The India POS device market is primarily driven by the shifting consumer preferences toward digital payment methods for goods and services. Besides this, the increasing product usage to streamline operations in e-commerce platforms and facilitate easy online and in-store sales for businesses is acting as another significant growth-inducing factor. Additionally, the elevating adoption of POS devices for automatically creating customer profiles with each card transaction and allowing businesses to monitor important customer information and purchase history are also positively influencing the Indian market. Moreover, the growing adoption of new technologies, including e-wallets and mobile wallets, the launch of favorable policies by government bodies aimed at promoting digital payments to establish a cashless economy, and the expanding establishments of micro-ATMs are further propelling the market growth. Apart from this, the escalating integration of artificial intelligence (AI) in POS devices is anticipated to bolster the India POS device market in the coming years.
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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