India (Point of Sale) POS Terminals Market Analysis

India POS Terminals Market Analysis

India mobile POS terminals market share is anticipated to grow at a CAGR of over 10% owing to the increasing inclination of customers toward mobile wallets, which offer faster and seamless payment options. The portability offered by these platforms further escalates the demand as it enables merchants to accept credit/debit payments through a tablet or a smartphone. In addition, the convenience, mobility, and low-cost advantages offered by mobile systems as compared to fixed systems will contribute to the growth.

India POS software market is anticipated to witness a considerable growth over the forecast timeline as it offers several advanced features such as restaurant billing, detailed reporting dashboards, and inventory management. Advanced software solutions help in saving time by automating the tasks such as gathering customer information. The automation allows businesses to make their tasks simpler and streamlined. In addition, real-time or summary information can be retrieved with these devices, augmenting the India POS terminals market growth.
 

India connected POS terminals market will witness a significant growth in the future as it offers integrated value-added services such as couponing and mobile wallets. Moreover, it helps with a high return on investment by improving accuracy, profitability, and sales throughout the business operations. Connected devices are integrated with software applications that enable store owners to manage their total business on the same device they use to accept the payments.
 

The healthcare segment is anticipated to witness a huge demand over the forecast timeline in the India POS terminals market owing to the rising focus on gathering patient’s data tracking activities and the need for streamlining payment practices across healthcare service facilities. Increasing healthcare expenditure and investments, which are directed toward the healthcare infrastructural development will offer opportunities for the segment growth. The system enables the healthcare business to accept payments from online or phone and manage the financial information with advanced reporting options. Increasing number of healthcare facilities accompanied with the evolving payment landscape is expected to contribute to the India POS terminals market size.
 

The rural areas in the India POS terminals market is anticipated to witness a high demand for the system over the forecast timeline owing to the effect of demonetization and rising government focus to facilitate the region with the digital payments technology to cater to the cash-crunch across the economy. To support the digital payments ecosystem and cashless transactions, organizations, such as the National Bank for Agriculture and Rural Development (NABARD), are planning to deploy POS terminals in over one lakh villages, which will also help in offering efficient financial services to the disadvantaged population.