India Point-of-Sale Terminal Market revenue is projected to grow at a CAGR of 24.1% from 2023-2029

On the basis of applications, the grocery segment holds the major revenue share in the India Point-of-Sale (PoS) Terminal Market – 6Wresearch

In terms of applications, the grocery sector holds the largest share of market revenue and is expected to maintain this position over the forecast period. This is primarily due to the extensive deployment of POS terminals in shopping complexes and supermarkets/hypermarkets to facilitate efficient handling of goods and manage customer traffic. Additionally, the increasing adoption of cash-on-delivery options through on-site payment methods such as debit/credit cards by major e-commerce platforms following the pandemic is expected to drive the demand for POS terminals in the grocery sector in the coming years.

According to 6Wresearch, India Point-of-Sale Terminal Market revenue is projected to grow at a CAGR of 24.1% from 2023-2029. The market is anticipated to continue expanding as the payment infrastructure undergoes modernization and payment cards gain greater acceptance. These factors are expected to play a crucial role in driving market growth in the coming years. The Point-of-Sale Terminal Market in Indonesia is anticipated to continue expanding as the payments infrastructure undergoes modernization and payment cards gain greater acceptance. In the initial two months of 2022, Paytm experienced an impressive 118% increase in the number of payment devices subscribed to by its merchants. The count of merchants paying for subscription services related to payment devices, such as soundbox and PoS machines, surged from 34 lakh in April and May of 2021 to 75 lakh during the same period in 2022. Furthermore, PhonePe introduced its latest POS Device, comprising 150,000 units. These devices would be distributed throughout their extensive network of 3.5 Crore users, providing merchants with the ability to seamlessly accept payments through both debit and credit cards which would raise the market of point-of-sale terminal in the coming future.

According to Ravi Bhandari, Research Head, 6Wresearch, fixed POS terminal technology currently dominates the Indian market in terms of revenue and is expected to maintain its dominance due to its wide range of applications in the retail, entertainment, and hospitality sectors. Portable POS terminals, on the other hand, are anticipated to experience significant growth over the forecast period due to their flexibility and technological advancements.

The India Point-of-Sale Terminal Market (2023-2029) report provides an in-depth analysis with 30 figures and 9 tables, covered in 80 pages. The report comprehensively covers the market by types, technology, product types, applications, and regions. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.