India POS Device Market Overview 2023-2028

The India POS device market 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 is increasing in India due to their ability to facilitate financial transactions, manage sales operations, and provide valuable insights. A POS device is a comprehensive system consisting of both hardware and software components. It includes a terminal with a touchscreen display, a cash register, a barcode scanner, a receipt printer, and software that seamlessly integrates with payment processors and other business tools. Acting as a central hub, the POS device enables businesses to process payments, track inventory, generate reports, and manage customer information. By streamlining the checkout process and enhancing efficiency, POS devices have become indispensable tools for businesses in India.

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India POS Device Market Trends and Drivers:

Currently, the Indian market is experiencing a surge in demand for POS devices as organizations seek reliable and secure solutions to enhance the customer experience. This growth is primarily driven by several factors. Firstly, the Government of India has implemented initiatives like Jan Dhan Yojana and Aadhaar-enabled payments, which have led to increased access to banking services throughout the country. As a result, there has been a significant rise in digital transactions, prompting businesses to meet the growing demand for cashless payments by adopting POS devices. Additionally, the growing popularity of online shopping has compelled traditional brick-and-mortar retailers to adapt and provide omnichannel experiences. This trend further contributes to the expansion of the market in India.

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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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