India POS Terminals Market Size & Share 2017 - 2024
Market Size by Application (Restaurants, Entertainment, Healthcare, Hospitality, Retail [Department Stores, Supermarkets/Hypermarkets, Convenience Stores, Discount Stores, Specialty Stores], Warehouse), by Product (Mobile, Fixed), by Component (Software, Hardware, Services), by Functionality (Connected, Standalone), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI1844
|
Published Date: July 2017
|
Report Format: PDF
Download Free PDF
Authors:
Preeti Wadhwani, Aishvarya Ambekar
India POS Terminals Market Size
India POS Terminals Market size was over USD 450 million in 2016 with shipments of over 300 thousand units.
The demonetization effect in India and the lack of available cash will propel the India POS terminals market demand as the people in the country are transitioning toward digital modes of payment for goods and services. Demonetization has increased the pace of digital transactions across the country, which has led to an increase in the demand for new machines to provide e-payment facilities to buyers. However, there are a comparatively lesser number of POS terminals to meet the demand, which is attracting several players, who will get a strong foothold by offering solutions at the best possible price.
Increasing penetration of the organized retail industry in the country and emergence of several e-commerce players offer huge impetus for the India POS terminals market growth. The system helps in streamlining the e-commerce operational platform and enables businesses to sell items online and in-store easily. The POS software used in retail sectors helps in automatically creating customer profiles with every card transaction that is accepted and monitor important customer information and purchase history.
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.
India POS Terminals Market Share
Key players in the India POS terminals market include:
are creating a great buzz in the industry and plan to utilize the huge untapped potential. In 2017, MSwipe announced that it plans to deploy over 50 thousand mPOS devices by the end of 2017. In addition, it also enables them to provide more benefits, such as discounts to the loyal customers, which help them in gaining prominence in the India POS terminals market.
India POS Terminals Industry Background
The India POS terminals market is supported by various government initiatives to enable cashless transactions in the country. For instance, the Pradhan Mantri Jan-Dhan Yojana (PMJDY) has increased the device sales in the country. The restaurants are progressively adopting the POS terminals, which make use of systems that are integrated to connect POS systems at all locations into a centralized server to ensure smooth business operations. There is an inclination toward mPOS devices in the country, which offers convenient transaction options to the customers attending events or standing in queues.
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →