India Point-of-Sale (PoS) Terminal Market
India Point-of-Sale (PoS) Terminal Market is running at a faster pace. In the year 2016-17, imports experienced a nearly fivefold increase primarily due to the impact of demonetization. Following this, import figures remained steady for the next few years, averaging around 0.8 million units annually. However, in 2019-20, the number of imports nearly doubled, reaching 1.78 million units. The import numbers for the first quarter of FY21 declined due to the effects of COVID-19 on supply chains and reduced demand. During the initial four months of the financial year 2021, 0.37 million units were imported. There are several factors that are expected to contribute to the further increase in the adoption of Point-of-Sale (PoS) terminals. These growth enablers include relaxed government regulations on digital payments, a shift towards cashless transactions, the introduction of value-added features in PoS terminals, and higher demand from specific sectors.
According to 6Wresearch, India Point-of-Sale Terminal Market revenue is projected to grow at a CAGR of 24.1% from 2023-2029. India's digital payment market growth is revolutionary, facilitated by various initiatives by the Government and the Reserve Bank of India (RBI). Given its status as the second-most populous country and the increased presence of major card providers in recent years, India is a crucial market for PoS terminals. The COVID-19 pandemic has created a significant opportunity for NFC technology-based PoS terminals, which enable contactless transactions. PoS terminals equipped with features to support UPI are in high demand in large retail stores to expedite the billing process. Additionally, the micro-ATM sector (PoS terminals) is experiencing growth as it is widely used for AePS-based payments. 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. These factors are expected to play a crucial role in driving market growth in the coming years.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Market Drivers, Restraints
- Historical Data and Forecast of India Point-of-Sale Terminal Market Revenues, By Technology for the Period 2019-2029F
- Market Evolution and Industry Life Cycle
- Historical Data and Forecast of India Point-of-Sale Terminal Market Revenues, By Product Types for the Period 2019-2029F
- Porter’s Five Force Analysis
- Historical Data and Forecast of India Point-of-Sale Terminal Market Revenues, By Types for the Period 2019-2029F
- Market Opportunity Assessment
- Historical Data and Forecast of India Point-of-Sale Terminal Market Revenues for the Period 2019-2029F
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