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The India point-of-sale (POS) terminal market size is estimated to grow at a CAGR of 11.59% between 2022 and 2027. The market size is forecast to increase by USD 1,812.57 million. The growth of the market depends on several factors, including the growth in end-user demand for POS terminals, the advent of HCE-based POS transactions, and the rise in the need for self-service POS terminals. POS terminals are electronic devices used by retailers and merchants to process transactions at the point of sale (POS). They typically consist of a computer or mobile device, a card reader, and software that allows merchants to accept payments from customers using credit cards, debit cards, or other payment methods.
This India POS terminals market report extensively covers market segmentation by component (hardware, software, and services), and end-user (entertainment, hospitality, healthcare, retail, and others). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growth in end-user demand for POS terminals is driving growth in the India Point-of-Sale (POS) Terminal market. The growing demand for advanced technologies to manage payments across a wide range of end-user sectors such as retail, healthcare, hospitality, warehousing, and distribution will drive the growth fo the India point-of-sale terminal market. Many small-sized retailers in India are also adopting POS terminals to ensure secure and convenient payments. There is a high demand for wireless and mobile POS terminals among SMEs.
Moreover, in a mobile POS, wireless devices, such as mobile phones and tablets, act as the electronic POS terminal. In order to increase customer convenience, wireless POS terminals help bring the point of payment in line with their needs. Restaurant and food service businesses, retail stores, taxi and car services, and professionals who need a point of payment on the move are widely using these systems. Some vendors of POS terminals are focusing on offering products with advanced features. The availability of such products is likely to fuel the growth of the India Point-of-Sale (POS) Terminal market during the forecast period.
New product launches and technological upgrades of POS terminals are a primary trends in the market. In order to increase their coverage and gain larger market shares, leading players in the market increasingly focus on a range of growth strategies including new product launches. The India point-of-sale terminal market has the presence of both international and local players. New product launches help companies strengthen their product offerings and ensure diversification that supports end-users.
Moreover, end-users are introducing new onboarding solutions that transform smartphones into merchant POS terminals. As an example, Axis Bank Ltd in July 2020 launched Sarathi, the world's earliest and most novel Digital Onboarding System that allows retailers to use POS data. The system will speed up the application process and will allow merchants to sign up in a paperless manner. Such developments and product launches are likely to drive the growth of the India Point-of-Sale (POS) Terminal market during the forecast period.
The high operational and maintenance costs of POS terminals are a major challenge in the market. There was significant growth in the use of POS terminals by different end users, such as retail stores and restaurants. The operational cost for POS terminals is considered higher than that of a conventional setup, which involves the use of an actual cash register. Depending on the size, sales volume, and business needs of end-user companies, operating costs for point-of-sale terminals are very different. Initial setup costs, individual transaction costs, month-to-month subscription charges, and termination expenses are some of the main cost components.
However, there are also issues related to the failure of POS terminals. If the POS terminal malfunctions or crashes, the business operations of the end user can slow down or even stop. After a malfunction of the point of sale terminal, retailers may have to spend considerable time identifying and rectifying technical faults which would require them to take an excessive amount of their own time and resources in maintaining and supervising these repairs. The high operational and maintenance costs for POS terminals are expected to limit the growth of the market during the forecast period.
The India Point-of-Sale (POS) Terminal market share growth by the hardware segment will be significant during the forecast period. The hardware segment in the India point-of-sale terminal market includes all the physical components that make up the POS system, such as the terminal itself, peripherals like scanners and printers, and any other hardware that is required for the system to function. The POS terminal is generally composed of a monitor or touchscreen display, as well as card readers and scanners for managing payments, cash registers, and receipt printers.
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The hardware segments showed a gradual increase in the market share of USD 835.11 million in 2017 and continued to grow by 2021. The hardware segment in the India POS terminal market plays a key role by enabling businesses to manage their sales operations effectively and efficiently. Due to continued technological progress, it is likely that hardware components of point-of-sale terminals will be even more advanced and offer new features which further enhance their functionality and flexibility. Therefore, these factors will spur the growth of the component segment of the market during the forecast period.
Based on end-user, the India Point-of-Sale (POS) Terminal market has been segmented into entertainment, hospitality, healthcare, retail, and others. The entertainment segment will account for the largest share of this segment. The entertainment segment in the India POS terminal market includes the use of POS terminals among businesses that offer entertainment services, such as movie theaters, amusement parks, casinos, and sports venues. In this segment, POS terminals are used to process ticket sales, merchandise purchases, and food and beverage sales. In total, while businesses in this sector are looking at ways to manage their operations more efficiently and provide an optimal customer experience, the use of point-of-sale terminals for entertainment will continue to increase. POS terminals, which will be increasingly sophisticated in the coming years with new features that improve customers' experience of entertainment, are also likely to evolve as technological progress continues. Therefore, these factors are expected to propel the growth of the entertainment segment of the India POS terminals market.
The India POS Terminals Market industry report includes the adoption lifecycle of the India POS terminal 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
India POS Terminals Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BITEL Co. Ltd. - The company offers Pos terminals such as pda pos, wireless pos, countertop pos, pin pad, mobile payment, and pos.
Castles Technology Co. Ltd. - The company offers pos terminals such as android POS, mobile POS, EFT POS, and pin pad.
CitiXsys Holdings Inc. - The company offers POS terminals such as iVend POS, iVend moblie POS, and ivend passes.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The India pos terminals market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
India POS Terminals Market Scope |
|
Report Coverage |
Details |
Page number |
127 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.59% |
Market growth 2023-2027 |
USD 1,812.57 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
10.36 |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
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 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., and Worldline SA |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by End-user
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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