India POS Device Market Size, Share, Growth & Report 2023-2028

India POS Device Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “India POS device Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India POS device market growth, size, share,and trends forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

A Point-of-Sale (POS) device is a significant tool that processes transactions and facilitates seamless electronic payment options in commercial establishments. It allows businesses to accept payments from customers digitally. It also assists them in various other functions, such as inventory management, customer management, and sales reporting. It helps automate the transaction process and reduces manual errors and checkout times. It is available in different forms, including countertop devices, mobile POS systems, and innovative POS software applications for computers and mobile devices. Besides this, as it aids in providing smoother and more efficient operational efficiency, the demand for POS device is increasing across India.

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.

India POS Device Market Trends and Drivers:

The ongoing digital transformation in India, coupled with governmental policies promoting cashless transactions and digitization, represents one of the key factors driving the market. Additionally, the rapid growth of the retail sector in India, rapid urbanization, and increasing consumer spending are positively influencing the market. Apart from this, the rising utilization of mobile POS systems in small and medium-sized enterprises (SMEs), on account of their convenience and efficiency, is offering a favorable market outlook. Furthermore, advancements in technology and the incorporation of new features like NFC payments and biometric readers in POS devices are improving the convenience and security of transactions.

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

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.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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