Reports
Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
India POS Device Market Report, Share, Size, Growth, Trends, Research: By Component: Hardware, Software, Services; By Terminal Type: Fixed POS Terminals, Mobile POS Terminals; By Business Size; By Industry; Market Dynamics: SWOT Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments; 2018-2028
India POS Device Market Outlook
The India POS device market attained a value of about INR 26.7 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 13.29% to reach nearly INR 56.6 billion by 2026.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Rapid Digitisation Owing to Various Favourable Government Initiatives Boosting the Growth of the POS Device in India
The Indian government is introducing various initiatives to boost the growth of the cashless economy. The demonetisation of various notes in 2016 has significantly contributed to the rising popularity of the cashless payment methods in the country. Various initiatives such as Digital India Program are promoting the benefits of a cashless economy, consequently aiding the market growth of POS devices. In addition, the prevalence of the electronic toll collection system, FASTag, which is operated by the National Highway Authority of India (NHAI) by employing Radio Frequency Identification (RFID) to boost digitisation is also increasing the use of POS devices, hence aiding the market growth.
The rising smartphone penetration in the region, along with cheap internet rates, is increasing the use of cashless transaction methods, such as banking cards, unified payments interface (UPI), and mobile wallets. This is increasing the use of point-of-sale devices, which allows for real-time payment mode by displaying QR codes, therefore augmenting the market growth of POS device. Furthermore, the increasing demand for mid-range and premium smartphones in the region is surging the use of near-field communication (NFC). This is increasing the adoption of contactless payment, hence significantly contributing to the market growth of POS device in India.
POS Device: Market Segmentation
A POS device, variously known as a point-of-sale device, is a system that is typically used to process card payments in the retail industry. It reads the magnetic strip of credit or debit card to enable transaction and record a receipt. It can aid business owners in facilitating transactions by automating several business operations.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
The major components of POS device are:
- Hardware
- Software
- Services
The market can be broadly categorised on the basis of its terminal types into:
- Fixed POS Terminals
- Mobile POS Terminals
Based on business size, the market is classified into:
- Turnover < 5 million INR
- Turnover 5 million INR – 50 million INR
- Turnover 50 million INR and above
On the basis of industry, the market is divided into:
- Retail
- Hospitality
- BFSI
- Media and Entertainment
- Warehouse
- Healthcare
- Others
Expansion of Retail Outlets to Bolster the Market Growth of POS Device in India
The considerable growth of the retail sector in India is augmenting the market growth for POS device in India. Moreover, the rapid expansion of retail chains such as hypermarkets and convenience stores in tier-II and tier-III cities in the country with rapid digital transformation is expected to aid the industry growth. For instance, Future Group plans to expand the presence of its hypermarket, Big Bazaar, in over 100 cities in tier-II and tier-III cities. Such expansions are increasing the deployment of POS devices, therefore propelling the market growth. Moreover, the rapid integration of artificial intelligence (AI) in point-of-sales devices to aid businesses to eliminate losses by tracking orders and inventories precisely while easing consumer transaction services. It can also allow POS device software to analyse consumer data to enhance decision-making process and improve consumers’ experience. Hence, the deployment of artificial intelligence in POS devices is estimated to propel the industry growth.
As the COVID-19 pandemic increased remote transactions and surged the popularity of the online retail sector, digital transactions witnessed rapid growth. According to the NPCI- National Payments Corporation of India, the COVID-19 pandemic is escalating digitisation and is providing momentum to digital payment methods. This is increasing the use of POS devices, which is expected to boost the market growth. Moreover, the likeliness of other waves of the pandemic in the country can further the trend of digital transactions, hence propelling the market growth. Moreover, increasing investments by major companies to advance POS systems in wake of the pandemic is projected to fuel the market growth.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Key Industry Players in the India POS Device Market
The report presents a detailed analysis of the following key players in the India POS device market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Ingenico Group
- VeriFone, Inc.
- PAX Technology
- Ezetap Mobile Solutions Private Limited.
- Mswipe Technologies Private Limited
- NGX Technologies Pvt. Ltd
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Component, Terminal Type, Business Size, Industry |
| 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 | Retail, Hospitality, BFSI, Media and Entertainment, Warehouse, Healthcare, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Ingenico Group, VeriFone, Inc., PAX Technology, Ezetap Mobile Solutions Private Limited., Mswipe Technologies Private Limited, NGX Technologies Pvt. Ltd, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 India
7 Industry Opportunities and Challenges
8 India POS Device Market Analysis
8.1 Key Industry Highlights
8.2 India POS Device Historical Market (2018-2022)
8.3 India POS Device Market Forecast (2023-2028)
8.4 India POS Device Market by Component
8.4.1 Hardware
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Software
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Services
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 India POS Device Market by Terminal Type
8.5.1 Fixed POS Terminals
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Mobile POS Terminals
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 India POS Device Market by Business Size
8.6.1 Turnover < 5 million INR
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Turnover 5 million INR – 50 million INR
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Turnover 50 million INR and above
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 India POS Device Market by Industry
8.7.1 Retail
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Hospitality
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 BFSI
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Media and Entertainment
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Warehouse
8.7.5.1 Market Share
8.7.5.2 Historical Trend (2018-2022)
8.7.5.3 Forecast Trend (2023-2028)
8.7.6 Healthcare
8.7.6.1 Market Share
8.7.6.2 Historical Trend (2018-2022)
8.7.6.3 Forecast Trend (2023-2028)
8.7.7 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Ingenico Group
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 VeriFone, Inc.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 PAX Technology
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Ezetap Mobile Solutions Private Limited.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Mswipe Technologies Private Limited
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 NGX Technologies Pvt. Ltd
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. India POS Machine Market: Key Industry Highlights, 2018 and 2028
2. India POS Machine Historical Market: Breakup by Component (INR Billion), 2018-2022
3. India POS Machine Market Forecast: Breakup by Component (INR Billion), 2023-2028
4. India POS Machine Historical Market: Breakup by Terminal Size (INR Billion), 2018-2022
5. India POS Machine Market Forecast: Breakup by Terminal Size (INR Billion), 2023-2028
6. India POS Machine Historical Market: Breakup by Business Size (INR Billion), 2018-2022
7. India POS Machine Market Forecast: Breakup by Business Size (INR Billion), 2023-2028
8. India POS Machine Historical Market: Breakup by Industry (INR Billion), 2018-2022
9. India POS Machine Market Forecast: Breakup by Industry (INR Billion), 2023-2028
10. Middle East and Africa Historical Price Trends and Forecast 2018-2028
11. India POS Machine Market Structure
Key Questions Answered in the Report
In 2020, the India POS device market attained a value of nearly INR 26.7 billion.
The market is projected to grow at a CAGR of 13.29% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about INR 56.6 billion by 2026.
The market is being aided by the introduction of various favourable initiatives by the Indian government to promote cashless transactions and the rising use of near-field communication (NFC) in transactions through smartphones.
The industry is expected to be driven by the robust growth of the retail sector, the integration of artificial intelligence in POS systems, and the rising demand for cashless transactions owing to the COVID-19 pandemic.
The different components of POS device are hardware, software, and service.
The major terminal types of POS device in the industry are fixed POS terminals and mobile POS terminals.
The various business sizes are turnover < 5 million INR, turnover 5 million INR – 50 million INR, and turnover 50 million INR and above.
The significant industries in the market are retail, hospitality, BFSI, media and entertainment, warehouse, and healthcare, among others.
The major players in the industry are Ingenico Group, VeriFone, Inc., PAX Technology, Ezetap Mobile Solutions Private Limited., Mswipe Technologies Private Limited, and NGX Technologies Pvt. Ltd, among others.
Analyst Review
The India POS device market attained a value of nearly INR 26.7 billion in 2020, driven by the rapid digitisation in the country. Aided by the robust growth of the retail sector, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 13.29%. The market is projected to reach about INR 56.6 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its components, the POS device industry in India can be segmented into hardware, software, and services. On the basis of terminal types, the industry is divided into fixed POS terminals and mobile POS terminals. By business sizes, the industry is categorised into < 5 million INR, turnover 5 million INR – 50 million INR, and turnover 50 million INR and above. Based on industry, the market is segmented into retail, hospitality, BFSI, media and entertainment, warehouse, and healthcare, among others. The key players in the above market include Ingenico Group, VeriFone, Inc., PAX Technology, Ezetap Mobile Solutions Private Limited., Mswipe Technologies Private Limited, and NGX Technologies Pvt. Ltd, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
Purchase Options
Call us on
Purchase Full Report
Mini Report
$1699
-
Selected Sections, One User
-
Printing Not Allowed
-
Email Delivery in PDF
-
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next UpdateSingle User License
$2799-
All Sections, One User
-
One Print Allowed
-
Email Delivery in PDF
-
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
$3999-
All Sections, Five Users
-
Five Prints Allowed
-
Email Delivery in PDF
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Corporate License
$4999-
All Sections, Unlimited Users
-
Unlimited Prints Allowed
-
Email Delivery in PDF + Excel
-
Free Limited Customisation
-
Post Sales Analyst Support
-
50% Discount on Next Update
Contact AnalystAny Question? Speak With An Analyst
Request SampleView A Sample
Request CustomisationDid You Miss Anything, Ask Now
Why Expert Market Research?Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.
Similar Reports
NEWSLETTER