India POS Terminals Market Size, Trends, Growth Analysis, and Forecast (2017-2024)
Introduction
The India POS Terminals Market is experiencing rapid expansion, fueled by advancements in materials, recycling technologies, and shifting consumer preferences. With the growing emphasis on digital transactions, particularly after India’s demonetization in 2016, the demand for POS terminals has surged. The market, valued at USD 450 million in 2016, is projected to reach USD 3 billion by 2024, growing at a CAGR of 9.5% during the forecast period.
Market Trends
- Rise of Mobile POS Terminals – Increased adoption of mobile wallets and smartphone-based payment solutions is accelerating demand.
- Technological Advancements – Features such as real-time reporting, inventory tracking, and automated billing enhance market appeal.
- Growing E-commerce Integration – POS terminals streamline transactions for online and offline retail businesses.
- Expansion in Healthcare & Hospitality – Hospitals and hotels are increasingly leveraging POS systems for payment tracking and customer management.
- Government Push for Digital Transactions – Initiatives like PMJDY and rural banking programs are boosting POS adoption.
𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐑𝐞𝐩𝐨𝐫𝐭: (𝐈𝐧𝐜𝐥𝐮𝐝𝐢𝐧𝐠 𝐅𝐮𝐥𝐥 𝐓𝐎𝐂, 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐓𝐚𝐛𝐥𝐞𝐬 & 𝐅𝐢𝐠𝐮𝐫𝐞𝐬, 𝐂𝐡𝐚𝐫𝐭) @
Market Challenges
- Standardization Issues – Lack of uniform standards for POS terminals across sectors.
- Security Risks – Rising concerns over data breaches and fraud in digital transactions.
- High Initial Costs – Small businesses may find it challenging to adopt advanced POS systems.
Dominating Region
Urban India, including metropolitan cities like Mumbai, Delhi, and Bangalore, dominates the POS market due to higher smartphone penetration and a well-established retail infrastructure.
Fastest-Growing Region
Rural India is the fastest-growing region, driven by government-backed financial inclusion programs and a shift toward digital payments in previously cash-driven economies.
𝗚𝗲𝘁 𝟭𝟬-𝟮𝟱% 𝗗𝗶𝘀𝗰𝗼𝘂𝗻𝘁 𝗼𝗻 𝗜𝗺𝗺𝗲𝗱𝗶𝗮𝘁𝗲 𝗽𝘂𝗿𝗰𝗵𝗮𝘀𝗲
India POS Terminals Market – Regional Analysis
| Report Attribute | Details |
| Base Year | 2016 |
| Market Size in 2016 | USD 450 Million |
| Forecast Period | 2017 to 2024 |
| CAGR (2017-2024) | 9.5% |
| 2024 Value Projection | USD 3 Billion |
| Historical Data | 2013 to 2016 |
| No. of Pages | 190 |
| Tables, Charts & Figures | 110 |
| Segments Covered | Application, Component, Functionality, and Region |
| Growth Drivers | Increasing demand for mobile POS, government support, e-commerce expansion |
| Pitfalls & Challenges | Security concerns, standardization issues, high costs |
Competitive Landscape
The India POS Terminals Market is witnessing intense competition, with key players focusing on innovation and expanding their product portfolios.
Key Market Players:
- Ingenico
- Verifone
- PAX Technology
- MSwipe
- Ezetap Mobile Solutions
Industry Outlook
As India progresses toward a cashless economy, POS terminals are becoming a necessity across industries, from retail and hospitality to healthcare and entertainment. The market is set for significant growth, driven by evolving consumer preferences, digital payment innovations, and government initiatives supporting financial inclusion.
