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(MoneyNewsWire.Net, August 07, 2018 ) Market Overview: -
India POS Terminals Market to expand USD 450 million with the shipments growing at a CAGR of over 10% from 2017 to 2024. The growth can be credited to the growing usage and acceptance of credit & debit cards in the country. Considerable number of POS devices are being deployed across India in various sectors such as retail, restaurant, hospitality, healthcare, and entertainment which is expected to provide a widespread array of prospects for the India POS Terminals Market growth.
Rising deployment in India on a wide scale can be attributed to the active participation of the government and other regulatory bodies. The Reserve Bank of India (RBI) has relaxed the rules for carrying out transactions via POS terminals. Moreover, after the demonetization effect in the country, the government has been motivating banks to implement these systems to encounter the growing demand of cashless transactions.
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Top Key Players: -
Major Key players in India POS terminals market participating comprise MobiSwipe Technologies Private Limited, VeriFone, Mosambee, Ingenico, Ezetap Mobile Solutions Pvt. Ltd., Visiontek Telesystems Private Limited, Paynear Solutions Pvt. Ltd., and Skilworth Technologies Pvt. Ltd. The India POS terminals market is dominated by well-established players and is characterized by intense competition.
Market share calculation in this report is not done based on companies covered in it. The calculation of India POS terminals market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Segmentations: -
In the components segment, hardware segment accounted for majority of the India POS terminals market share as it offers distinctive designs and versatility suiting every industry need. The hardware includes handhelds, terminals, PC workstations, and self-service kiosks which are capable of managing the challenges of the retailers. Hardware is widely being adopted in India owing to its ease of implementation on the smart devices.
Tier 1 cities of the country had the largest share in 2016 in India POS terminals market owing to the accelerated growth of cashless transactions using credit & debit cards by the e-commerce websites. The governmental push towards the cashless transaction also helps the adoption of POS terminals in the tier 1 and tier 2 cities. The automation of brick and mortar businesses by cashless transactions is also gaining traction in these cities.
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Partial Chapter of the Table of Content
Chapter 5 India POS Terminals Market, By Service
5.1 India POS terminals market share by service, 2016 & 2024
5.2 Professional Services
5.2.1 India POS terminals market demand from professional services, by region, 2013 - 2024
5.3 Support & Maintenance
5.3.1 India POS terminals market demand from support & maintenance, by region, 2013 - 2024
5.4 Training
5.4.1 India POS terminals market demand from training, by region, 2013 - 2024
Chapter 6 India POS Terminals Market, By Component
6.1 India POS terminals market share by component, 2016 & 2024
6.2 Software
6.2.1 India POS terminals market demand from software, by region, 2013 - 2024
6.3 Hardware
6.3.1 India POS terminals market demand from hardware, by region, 2013 - 2024
6.4 Services
6.4.1 India POS terminals market demand from services, by region, 2013 - 2024
Chapter 7 India POS Terminals Market, By Functionality
7.1 India POS terminals market share by functionality, 2016 & 2024
7.2 Connected
7.2.1 India connected POS terminals market, by region, 2013 - 2024
7.3 Standalone
7.3.1 India standalone POS terminals, by region, 2013 - 2024
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terminals market. Customers using credit & debit cards at the systems have a risk of revealing their PINs to other customers. Several retailers are implementing advanced technology to prevent transaction frauds to execute secure online payments to make consumers more confident about the purchases.
The installation of mobile devices is allowing the merchants to plan beyond the operational savings, efficiency and focus on a variety of customer-oriented campaigns to grow and expand the customer base. Furthermore, they do not require the maintenance are primarily used for better mobility and user experience, utilizing technologies such as GPRS, 802.11, CDMA, and Wi-Fi for communication driving the India POS terminals market.
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