Latest (2023) Development of India POS Terminal Market

India POS terminal Market is one of the largest markets. The POS terminal industry has accomplished various new developments which include the introduction of UPI and Bharat QR for digital transactions, which has increased the demand for POS terminals. The growing retail industry in India is leading to an increase in the number of retail outlets, driving the demand for POS terminals in India. The increasing acceptance of digital payments in India is leading to a rise in the demand for POS terminals, as more businesses seek to adopt cashless transactions.

The growing e-commerce industry in India is leading to an increased demand for POS terminals, as online retailers are seeking to accept digital payments. The Indian government is actively promoting the use of digital payments, through initiatives such as the Digital India program, which propels the growth of the POS terminal industry. The introduction of new technologies such as artificial intelligence and machine learning is leading to the development of innovative POS terminals in India. Moreover, the growing investment from venture capital firms in the POS terminal market is spurring innovation and proliferates market expansion.

India POS terminal Market Synopsis

India POS terminal Market report is a part of the Asia Pacific POS Terminal Market that thoroughly covers the market by type, end-users, and by regions including Eastern, Western, Northern, and Southern. India POS Terminal market outlook report provides an unbiased and detailed analysis of the ongoing India POS terminal market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.

India POS terminal market is expected to register substantial growth primarily due to demonetization initiatives introduced by the Government of India to transform the country into a cashless economy. The adoption of digital transactions has increased the demand for new payment modes and devices which can offer e-payment facilities to buyers. Additionally, government initiatives under the extension of Pradhan Mantri Jan-Dhan Yojana in 2018 will further enhance the demand for online cashless transactions in the country. The introduction of the second phase of the financial inclusion scheme aims at providing a bank account and a bundle of other financial products to every citizen in India. These initiatives would further drive the growth of the POS terminal market in India.

According to 6Wresearch, India POS Terminal Market is anticipated to witness growth during 2020-2026. Rising demand for mobile POS terminals, increasing adoption of mobile wallets, favorable regulations, growing e-commerce sector and the emergence of new players, rapid urbanization as well as technological advancement are some of the key growth drivers of the POS terminal market in India. Further, the growing tourism industry will also contribute to increased demand for imported POS Terminals and would further propel the growth of the Indian POS Terminal market in the near future. However, the India POS terminal market is expected to witness a downfall during the initial months of 2020 due to the outbreak of the Covid-19 pandemic in the country. The market is expected to recover gradually over the next few years.

India POS terminal market is expected to gain momentum in the upcoming six years on the back of the rising wide scope of product applications across various verticals including the healthcare, and transportation sectors. Further, The growing establishment of commercial sectors such as retail outlets, hypermarkets, and supermarket stores due to the increasing growth of the urban population and rising discretionary spending of the population in the country has led to simultaneously proliferation of the adoption of POS terminals to ensure efficient payment method and this is expected to benefit the progressive growth of the India POS terminal market in the upcoming six years.

India point of sale terminal market is anticipated to find its true potential underpinned by the rising impressive growth of the commercial sector. The increase in the growth of the ritual outlets in the country with the growing urban population coupled with the growing e-commerce stores also strengthening the retail sector growth, as a result, is estimated to bolster the point of sale terminal Installation for the payment purpose and is estimated to benefit the substantial growth of the India point of sale terminal market in the upcoming six years.

Market Analysis By Types

In terms of type, portable and mobile POS terminals are registering significant growth in India. 

Market Analysis By End-User

Healthcare and retail verticals are dominating the overall India POS terminal market due to the outbreak of the Covid-19 pandemic in the country. Further, the rural areas are expected to witness a huge demand for the POS terminal market in India due to government initiatives to promote rural development.

COVID-19 Impact on India POS Terminal Market

The outburst of the coronavirus pandemic has surged the growth of the market owing to the increasing trend regarding digital payments. The remote transaction experienced a major hike along with expanding digitization. 

Key players in the Market 

Some of the prominent players in the India POS Terminal Market are: 

• International India Pvt. Ltd
• Verifone India Sales Pvt. Ltd.
• Mswipe Technologies Private Limited
• Ezetap Mobile Solutions Pvt. Ltd.
• MobiSwipe Technologies Private Limited
• Paynear One
• PayU Money
• ePaisa
• Pine Labs
• PAX Technologies Pvt. Ltd.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India POS Terminal Market Overview
• India POS Terminal Market Outlook
• India POS Terminal Market Forecast
• India POS Terminal Market Size and India POS Terminal Market Forecast Until 2026
• India POS Terminal Market Share, By Types
• India POS Terminal Market Share, By End Users
• India POS Terminal Market Share, By Regions
• Historical Data of India POS Terminal Market Revenues and Volume for the period, 2016-2019
• Market size and Forecast of India POS Terminal Market Revenues and Volume Until 2026
• Historical Data of India POS Terminal Market Revenues and Volume, By Types, for the Period 2016-2019
• Market size and Forecast of India POS Terminal Market Revenues and Volume, By Types, Until 2026
• Historical Data of India POS Terminal Market Revenues and Volume, By End Users, for the Period 2016-2019
• Market size and Forecast of India POS Terminal Market Revenues and Volume, By End Users, Until 2026
• Historical Data of India POS Terminal Market Revenues and Volume, By Regions, for the Period 2016-2019
• Market size and Forecast of India POS Terminal Market Revenues and Volume, By Regions, Until 2026
• India POS Terminal Market Drivers and Restraints
• India POS Terminal Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• India POS Terminal Market Opportunity Assessment
• India POS Terminal Market Revenue Share, By Company
• India POS Terminal Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The India POS terminal market report provides a detailed analysis of the following market segments:

By Type

• Portable
• Countertop
• Mobile POS
• PIN Pad
• Multimedia

By End Users

• Hospitality
• Retail  
• Government & Transportation
• Healthcare
• Others

By Regions

• Northern
• Western
• Eastern
• Southern

Frequently Asked Questions About the Market Study: FAQs

1). Which segment on the basis of end-user is dominating the overall India POS Terminal Market?

Healthcare and retail verticals are dominating the overall India POS terminal market.

2). Which segment based on types is registering significant growth in the overall market?

In terms of type, portable and mobile POS terminals are registering significant growth in India. 

3). Who are the key players operating in India POS Terminal Market?

Some of the prominent players in India POS Terminal Market are International India Pvt. Ltd, Verifone India Sales Pvt. Ltd., Mswipe Technologies Private Limited, Ezetap Mobile Solutions Pvt. Ltd., MobiSwipe Technologies Private Limited, Paynear One, PayU Money, ePaisa, Pine Labs and PAX Technologies Pvt. Ltd.

4). Does the report include the impact of COVID-19?

Yes, the report includes the impact of COVID-19.