Press Release

India POS Terminals Market to Grow at a CAGR of 11% through 2022

Government initiatives aimed at promoting digital payments, rapid urbanization and adoption of new technologies to fuel India POS terminals market until 2022

According to TechSci Research report, “India POS Terminals Market By Type, By End User, Competition Forecast & Opportunities, 2012 – 2022”, India POS terminals market is projected to grow at a CAGR of over 11% during 2017 - 2022. Growing awareness about the benefits of POS terminals among retail as well as commercial segments coupled with the government’s efforts to drive the country towards a cashless economy is expected to drive India POS terminals market in the coming years. Post demonetization, the market of POS terminals witnessed a surge as the cash crunch led by the ban on currency notes of INR 500 and INR 1,000 resulted in increasing adoption of several alternate modes of payment such as debit and credit cards. 

                                                                                                   Debit and Credit Cards Use at India POS Terminals, 2016

                       

                                                                                                                                                                               Source: RBI

                                                        *Estimated, Source: Central Intelligence Agency, United States


Browse 25 Tables and 48 Figures spread through 137 Pages and an in-depth TOC on  "India POS Terminals Market"

https://www.techsciresearch.com/report/india-pos-terminals-market-by-type-by-end-user-competition-forecast-opportunities/1162.html

On the basis of type, POS terminals market has been broadly segmented into three types – namely, fixed POS terminals, portable POS terminals and mobile POS or mPOS terminals. Of these, fixed POS terminals dominated India POS terminals market in 2016 as they are considered highly reliability and are currently the most recognized type of POS terminals. However, scenario is expected to change in the coming years, with portable POS terminals anticipated to dominate India POS terminals market by 2022. Moreover, mPOS terminals are likely to witness the highest growth rate in India POS terminals market in the coming years on the back of their ease of use, low cost and ultra-portability.

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In 2016, retail sector dominated India POS terminals market on account of high adoption of POS terminals by merchants in rural as well as urban areas. However, by the end of 2022, government & transportation sector is anticipated to grab the largest share in India POS terminals market, owing to increasing number of government initiatives aimed at digitizing the modes of payment in the government & transportation sector. “Growing adoption of POS terminals by urban kirana storeowners, who had been dealing in cash for decades, is a major contributing factor augmenting demand for POS terminals in India. Government initiatives towards boosting digitization as well as opening of bank accounts by making Aadhar Card mandatory are key factor expected to positively influence the POS terminals market in India over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India POS Terminals Market By Type, By End User, Competition Forecast & Opportunities, 2012 – 2022 has evaluated the future growth potential of POS terminals market and provided statistics and information on market structure, size, share and future growth of POS terminals market in India. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the India POS terminals market.

 

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