Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Point of Sale Terminal Market in India 2021" report has been added to ResearchAndMarkets.com's offering.
The PoS terminal market in India was valued at INR 27.47 Bn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~13.29% between 2021 and 2025. It may reach a value of INR 50.01 Bn by 2025.
Point of sale terminals or PoS terminals are electronic appliances that are used at retail points to conduct card payments. PoS terminals are mostly used by the retail, e-commerce, hospitality, entertainment, warehouse, and healthcare sectors. As of 2020, the retail and e-commerce sectors were the leading adopters of PoS solutions in India. Together, they occupied around 40.10% of the total PoS terminal market in terms of market revenue.
The increase in the usage of near-field communicative devices, preference for contactless payment, and demand for e-commerce activities might influence the growth of the India PoS terminal market. Expansion of the market can also be attributed to the initiatives undertaken by the Government of India (GoI) to promote digital payment and thus cashless economy in the country.
Some of such policies implemented by the government include demonetization, Jan Dhan Yojana, and the establishment of micro ATMs nationally. Moreover, technological advancements and the increasing adoption of new technologies, such as e-wallets and mobile wallets are also leading to a revolution in the market.
However, the lack of the availability of adequate PoS terminals in the market hinders the further market growth. Alongside, high installation charges and maintenance costs, as well as security concerns regarding theft disrupt the stable growth in the market.
Some of the prominent players operating in the market are ePaisa Services Private Limited, Ezetap Mobile Solutions Private Limited, and MobiSwipe Technologies Private Limited.
COVID-19 impact analysis:
The pandemic, followed by a long-term nationwide lockdown, had an adverse impact on the PoS terminal market in India. In the short run, the PoS terminal market in India experienced a downfall in its market value.
The primary reasons behind market disruption were the closure of retail stores for a considerable duration and the existing financial stress in the market, which led to a fall in people's purchasing power. Implementing stringent import restrictions caused a shortage in the supply of new PoS machines.
They were essential since retail units were shifting to contactless methods of payment. Old and faulty devices were being removed or replaced.
However, at present, due to the fear of social contacting and gathering, people are preferring cashless and contactless methods of payment. With the growing market for digital payments over the coming years, the PoS terminal market in India is also likely to expand multifold.
Key Topics Covered:
Chapter 1: Executive summary
Chapter 2: Socio-economic indicators
Chapter 3: Introduction
3.1. Market definition and structure
Chapter 4: Market overview
4.1. Point of sale terminal market in India - An overview
4.1.1. Market size and growth forecast based on value (2018 - 2025e)
Chapter 5: Market segmentation
5.1. Point of sale terminal market in India - Segmentation
5.1.1. Point of sale terminal market's share based on end user (2020 and 2025e)
5.1.2. Retail and e-commerce - Market size and growth forecast (2018 - 2025e)
5.1.3. Hospitality - Market size and growth forecast (2018 - 2025e)
5.1.4. Government and transportation - Market size and growth forecast (2018 - 2025e)
5.1.5. Other sectors - Market size and growth forecast (2018 - 2025e)
Chapter 6: COVID-19 impact analysis
6.1. COVID-19 impact analysis
Chapter 7: Market influencers
7.1. Market drivers
7.2. Market challenges
Chapter 8: Government initiatives
8.1. Government initiatives
Chapter 9: Market trends
9.1. Market trends
Chapter 10: Competitive landscape
10.1. Market participants
10.1.1. ePaisa Services Private Limited
Note: Similar information has been provided for all companies
10.1.2. Ezetap Mobile Solutions Private Limited
10.1.3. MobiSwipe Technologies Private Limited
10.1.4. Mswipe Technologies Private Limited
10.1.5. Pine Labs Finance Private Limited
10.1.6. Ingenico International India Private Limited
10.1.7. PAX Technologies Private Limited
10.1.8. PayU Payments Private Limited
10.1.9. Verifone India Sales Private Limited
Chapter 11: Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/w6ys7k
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