Point-Of-Sale (POS) Terminal Market Analysis India - Size and Forecast 2024-2028

India Point-Of-Sale Terminal Market Size 2024-2028

The India point-of-sale terminal market size is forecast to increase by USD 2.24 billion at a CAGR of 12.68% between 2023 and 2028.

• The market is witnessing significant growth due to the increasing adoption of mobile devices and tablets as POS systems in various industries. Food service establishments, movie theaters, and amusement parks are among the major end-users driving the demand for advanced POS terminals. The trend towards contactless payments using credit cards and smartphones is also fueling the market's growth.
• However, high operational and maintenance costs remain a challenge for small businesses. New product launches and technological upgrades, such as integrated printers and cash registers, are addressing these concerns and enhancing the functionality of POS terminals. Overall, the Indian POS terminal market is poised for steady growth In the coming years.

What will be the Size of the Indian POS Terminal Market During the Forecast Period?

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• The market is experiencing robust growth, driven by the increasing adoption of electronic card payments and wireless communication technologies. The hospitality industry, in particular, is a significant contributor to this trend, with the integration of POS systems enabling inventory management, customer experience enhancement, and contactless payments through EMV cards and mobile wallets. Security concerns, including data breaches, have fueled the demand for secure POS terminals, leading to the adoption of near field communication and EMV chip technology, including EMV cards. Mobile POS solutions, including cloud-based and integrated terminals, are gaining popularity due to their convenience and flexibility, especially in drive-thru and retail environments.
• The market is witnessing a shift towards digital payments, cashless transactions, and e-wallet facilities, offering businesses a higher return on investment through improved operational efficiency and reduced hardware downtime. Payment modes continue to expand, with the emergence of pay cards and mobile payments, further fueling market growth. Despite these advancements, ensuring data safety and preventing fraudulent transactions remains a critical challenge for market participants.

How is this Point-Of-Sale Terminal Market in India segmented and which is the largest segment?

The Indian point-of-sale terminal industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Component
  • Hardware
  • Software
  • Services
• End-user
  • Entertainment
  • Hospitality
  • Healthcare
  • Retail
  • Others
• Geography
  • India

By Component Insights

• The hardware segment is estimated to witness significant growth during the forecast period.

The Indian Point-of-Sale (POS) terminal market encompasses hardware components, including terminals, peripherals, and other necessary equipment. A typical POS terminal incorporates a monitor or touchscreen, card reader, cash drawer, and receipt printer. Advanced technology has led to more intricate and adaptable hardware, featuring contactless payment options and integration with inventory management and CRM systems. Hardware innovations in the market comprise contactless payment solutions, mobile POS systems, and cloud-based or on-premises deployment options. Security concerns, such as data breaches and fraudulent transactions, are addressed through EMV cards, encryption, and biometrics. The convenience of wireless transactions, mobile payments, and e-wallet facilities have driven the adoption of digital payment technologies in retail outlets, accelerating the digitization process.

Cloud-based POS terminals offer real-time sales reports, automated calculations, and inventory tracking, while integrated POS systems ensure data safety and seamless software integration. The market's growth is further fueled by regulatory compliance, consumer data protection, and the integration of AI and generative AI for personalized shopping experiences and dynamic pricing optimization.

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The Hardware segment was valued at USD 889.80 million in 2018 and showed a gradual increase during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Point-Of-Sale (POS) Terminal in India Industry?

Growth in end-user demand for POS terminals is the key driver of the market.

• The Indian POS terminal market experiences significant growth due to the increasing preference for electronic payments and advanced technologies in large industries, including retail, healthcare, hospitality, and warehouse and distribution. The proliferation of credit and debit card transactions among consumers propels retailers and other end-users to adopt POS terminals for secure and convenient payment processing. Moreover, the demand for wireless and mobile POS terminals, such as those utilizing wireless communication technologies like Near Field Communication and Contactless Payments, is escalating among Small and Medium Enterprises (SMEs). In the context of mobile POS, wireless devices, such as mobile phones and tablets, function as the electronic terminal.
• The adoption of EMV cards, digital payment technologies like Mobile Wallets and pay cards, and contactless payments further bolsters market growth. Inventory management, sales reports, and automated calculations are essential features that enhance the efficiency of POS terminal systems. Additionally, data safety and fraud detection are critical concerns addressed by cloud-based and integrated POS terminals. The shift towards cloud deployment and software integration offers numerous benefits, including real-time data access, online retail integration, and personalized shopping experiences through dynamic pricing optimization and generative AI. However, data security concerns and hardware downtime remain challenges that market participants must address to ensure a favorable return on investment.

What are the market trends shaping the Point-Of-Sale (POS) Terminal in India Industry?

New product launches and technological upgrades of POS terminals is the upcoming market trend.

• The Indian Point-of-Sale (POS) Terminal Market is experiencing significant growth due to the increasing adoption of electronic card payments and digital payment technologies. Companies are leveraging wireless communication technologies, such as Near Field Communication (NFC) and contactless payments, to enhance the customer experience. New product launches, including advanced 4G POS terminals with high-security protocols and AI integration, are driving innovation In the market. Additionally, mobile POS systems and mobile wallets are gaining popularity for their convenience and ease of use. Security concerns, including data breaches and fraudulent transactions, are a top priority for both companies and end-users. To address these concerns, cloud-based POS terminals with robust data safety measures are being adopted.
• Inventory management and sales reporting are also critical functions that are being integrated into POS systems to streamline operations for retail outlets. The market is witnessing the introduction of on-premises and cloud-based deployment options, providing flexibility for businesses of all sizes. Hardware components, such as EMV cards and automated calculations, are essential components of POS terminals. Compliance with regulatory requirements, including consumer data protection and regulatory compliance, is also a key consideration for companies operating in this market. In the hospitality industry, integrated POS terminals are being used to optimize sales and improve customer relationship management. Online retail and e-commerce are also driving the adoption of digital payment technologies, including generative AI for personalized shopping experiences and dynamic pricing optimization.
• Fraud detection and cloud-based PoS are also becoming essential features for businesses to ensure secure and reliable transactions.

What challenges does the Point-Of-Sale (POS) Terminal in India Industry face during its growth?

High operational and maintenance costs of POS terminals is a key challenge affecting the industry growth.

• The Electronic the market is witnessing substantial growth, particularly among hospitality and retail sectors. Despite the initial investment required for POS terminal implementation, businesses are increasingly adopting these systems due to their advanced features and benefits. The cost structure for POS terminal includes setup costs, transaction fees, monthly subscriptions, and cancellation charges, which can vary based on the business size, sales volume, and specific requirements. Compared to traditional cash registers, POS terminals offer more functionalities such as inventory management, sales reports, automated calculations, and customer relationship management. Moreover, digital payment technologies like EMV cards, contactless payments, mobile wallets, and pay cards are increasingly popular, driving the demand for POS terminals.
• Security concerns, such as data breaches, are a significant challenge for businesses adopting POS terminals. To mitigate these risks, POS terminal software providers are focusing on data safety, fraud detection, and regulatory compliance. Additionally, the integration of generative AI and dynamic pricing optimization further enhances the customer experience by providing personalized shopping experiences. POS terminal deployment options include cloud-based and on-premises. While cloud-based terminals offer flexibility, lower setup costs, and automatic software updates, on-premises terminals provide greater control and data security. Wireless communication technologies like Near Field Communication (NFC) and wireless transactions enable convenience for businesses, particularly in drive-thru and quick-service restaurants.
• In conclusion, the shift towards digitization and cashless transactions is driving the adoption of POS terminals in India. While the initial investment may be higher than conventional cash registers, the long-term benefits, including increased efficiency, enhanced security, and improved customer experience, make POS terminals a worthwhile investment for businesses.

Exclusive Customer Landscape

The POS terminal market in India forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the Indian point-of-sale terminal market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, point-of-sale (pos) terminal market in India forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

BITEL Co. Ltd. - The Indian Point-of-Sale (POS) terminal market encompasses a range of solutions, including PDAs, wireless, countertop, pin pad, mobile payment, and traditional POS systems. These technologies cater to various business requirements, offering flexibility, convenience, and efficiency in transaction processing.

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• BITEL Co. Ltd.
• Castles Technology Co. Ltd.
• CitiXsys Holdings Inc.
• Diebold Nixdorf Inc.
• ePaisa Services Pvt. Ltd.
• Fiserv Inc.
• Ingenico Group SA
• Mswipe Technologies Pvt. Ltd.
• NASPERS Ltd.
• NCR Voyix Corp.
• Newland Digital Technology Co. Ltd.
• NGX Technologies Pvt Ltd
• Oracle Corp.
• PAX Global Technology Ltd.
• PayPal Holdings Inc.
• Razorpay Software Pvt. Ltd.
• Revel Systems Inc.
• VeriFone Inc.
• Worldline SA

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The market is witnessing significant growth due to the increasing adoption of electronic card payments and digital payment technologies. The hospitality industry, in particular, is embracing wireless communication technologies to enhance customer experience and streamline operations. This shift towards digital transactions is driven by several factors, including the convenience and security offered by contactless payments and near field communication (NFC) technology. The integration of POS terminals with inventory management systems and customer relationship management (CRM) software is also gaining popularity. Cloud deployment and software integration enable real-time data access and analysis, leading to improved business insights and operational efficiency.

On-premises deployment is still prevalent in certain sectors, especially in retail outlets, due to data safety concerns and the need for hardware components that can handle heavy transaction volumes. Mobile POS systems are gaining traction, especially In the drive-thru segment, where contactless payments and mobile wallets offer a convenient and secure payment mode. The secure nature of digital payments and the ability to offer personalized shopping experiences through dynamic pricing optimization and fraud detection are key drivers of this trend. The adoption of EMV cards and digital payment technologies has led to regulatory compliance and consumer data protection becoming crucial considerations for businesses.

The Indian market is witnessing a surge in cloud-based POS terminals, which offer several advantages, including automated calculations, inventory tracking, sales reports, and online retail integration. The use of AI integration in POS terminal software is a growing trend, enabling businesses to offer intelligent recommendations, fraud detection, and dynamic pricing optimization. Fixed POS and on-premise deployment continue to coexist with cloud-based solutions, with businesses weighing the benefits of data security concerns against the advantages of real-time data access and analysis. The Indian POS terminal market is witnessing intense competition, with several players offering a range of hardware and software solutions.

The focus on data safety and fraudulent transaction prevention is a key differentiator, as businesses seek to provide a seamless and secure payment experience for their customers. Hardware downtime and the need for ongoing maintenance and updates are challenges that businesses must address to ensure uninterrupted operations. In conclusion, the Point-of-Sale terminal market in India is undergoing a digital transformation, driven by the increasing adoption of electronic card payments and digital payment technologies. The focus on customer experience, data security, and operational efficiency is leading to the integration of POS terminals with inventory management, CRM, and AI technologies. The market is witnessing intense competition, with businesses seeking to offer secure, convenient, and efficient payment solutions to their customers.

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What are the Key Data Covered in this Point-Of-Sale Terminal Market in India Research and Growth Report?

• CAGR of the Point-Of-Sale (POS) Terminal in India industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across India
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the point-of-sale terminal market in India growth of industry companies

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