India POS Device Market To Be Driven By Rapid Digitisation Owing To Various Favourable Government Initiatives In The Forecast Period Of 2022-2027

30 NORTH GOULD STREET, WYOMING, UNITED STATES, August 16, 2022 /EINPresswire.com/ -- The new report by Expert Market Research titled, ‘India POS Device Market Share, Size, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the India POS Device Market, assessing the market based on its segments like components, terminal types, business size, and industry.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

𝐆𝐞𝐭 𝐚 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬 – https://www.expertmarketresearch.com/reports/india-pos-device-market/requestsample

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

• Forecast CAGR (2022-2027): 13.3%

Market Overview (2017-2027)

The Indian government has introduced initiatives to help the cashless economy grow. The demonetisation of various notes in 2016 contributed greatly to the country’s growing acceptance of cashless payment alternatives. Various programmes, such as the Digital India Program, promote the advantages of a cashless economy, hence assisting the growth of the POS device industry. Furthermore, the use of POS devices is increasing due to the prevalence of the electronic toll collection system, FASTag operated by the National Highway Authority of India (NHAI) which uses Radio Frequency Identification (RFID) to boost digitisation.

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐃𝐞𝐟𝐢𝐧𝐢𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐌𝐚𝐣𝐨𝐫 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬

A POS device, also known as a point-of-sale device, is a system that is commonly used in the retail industry to process card payments. It reads the magnetic strip on a credit or debit card to complete the transaction and generate a receipt. By automating several business operations, it can assist business owners in facilitating transactions.

𝐑𝐞𝐚𝐝 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭𝐬 – https://www.expertmarketresearch.com/reports/india-pos-device-market

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐜𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭𝐬, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐢𝐧𝐭𝐨:

• Hardware
• Software
• Services

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐥 𝐭𝐲𝐩𝐞𝐬, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐝𝐢𝐯𝐢𝐝𝐞𝐝 𝐢𝐧𝐭𝐨:

• Fixed POS Terminals
• Mobile POS Terminals

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐢𝐳𝐞, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐜𝐥𝐚𝐬𝐬𝐢𝐟𝐢𝐞𝐝 𝐚𝐬:

• Turnover < 5 million INR
• Turnover 5 million INR – 50 million INR
• Turnover 50 million INR and above

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐝𝐢𝐯𝐢𝐝𝐞𝐝 𝐚𝐬:

• Retail
• Hospitality
• BFSI
• Media and Entertainment
• Warehouse
• Healthcare
• Others

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬

The significant growth of India’s retail industry is boosting the demand for point-of-sale devices. In addition, the rapid expansion of retail chains such as hypermarkets and convenience stores in tier-II and tier-III cities across the country, combined with rapid digital transformation, is expected to support industry growth. For instance, Future Group wants to extend Big Bazaar, its hypermarket, to over 100 cities in tier-II and tier-III towns. As a result of these developments, the deployment of POS devices is expanding, fueling market growth.

Furthermore, the rapid integration of artificial intelligence (AI) in point-of-sale devices will assist businesses in reducing losses by accurately tracking orders and inventories while streamlining consumer transaction services. It may also enable POS device software to analyse consumer data to improve decision-making and the customer experience. As a result, artificial intelligence in point-of-sale devices is expected to drive industry growth.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

The major players in the market are :

• Ingenico Group
• VeriFone, Inc.
• PAX Technology
• Ezetap Mobile Solutions Private Limited.
• Mswipe Technologies Private Limited
• NGX Technologies Pvt. Ltd
• Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Adam Lee
Expert Market Research
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