India POS Terminal Market – 2024

By Lee Holman Mar 6, 2024 3 Min Read

India is becoming one of the fastest-growing POS terminal markets in the world. The overall growth of organized retail drives demand for POS terminals. In turn, the growing middle class, already a consumption powerhouse, drives the demand for organized retail. Organized retail requires advanced systems, and the growth of mobile and cloud technologies, coupled with emerging technologies like AI and IOT, will ensure a dynamic POS environment for years to come.

Total Retail Sales: ₹72 Trillion ($871 Billion), up 9.7% from 2022

India POS Terminal Market – Country Overview

3^rd Largest APAC economy $3.7 Trillion
3^rd Largest retail market in the region
3^rd Largest POS Installed Base in Asia-Pacific
$623 per capita retail sales

Leading Retailers

Reliance Group (#53 worldwide), Future Group, Trent Limited, Aditya Birla Retail Limited, Titan Company, Shoppers Stop, Raymond Group, Godrej, Provogue, DiMart

Key India POS Terminal Market Trends

India has 18% of the earth’s consumers, and they have over 40 cities that have populations of more than 1 million. The top 10 cities account for 95% of organized retail.
Over the past decade, retail sales have grown 178%. This compares to 14% for Japan, 56% for Australia/New Zealand and 118% for China.
India’s retail market is highly fragmented and diversified, with a transformation that continues from unorganized to organized retail. India’s e-commerce sales will nearly double by 2026 to $200 Billion. The long pole in the tent for retail and e-commerce growth is India’s retail supply chain, which is fraught with inefficiency and waste.
Some of the Western retailers with a presence in India include Marks & Spencer (100 stores), H&M (51), Metro (31) and Walmart (26). Restaurants include Dominos (1,800+), YUM Brands (1,000+), Subway (560+), McDonald’s (500+), Burger King (400+) and Starbucks (350+).

Key India POS Terminal Market Size

2023 market was €783 Million and is expected to grow to €1,156 Million (47.7%, 8.1% CAGR ) by 2028.

Key POS Hardware Vendors/Key POS Software Vendors

Among the key POS hardware vendors in the Indian POS market are NCR Voyix, Diebold Nixdorf, Oracle, Posiflex and Toshiba Global Commerce Solutions.
Key POS software vendors in the Indian POS market include Cow Hills Retail, NCR Voyix, Diebold Nixdorf, and Oracle.

IHL Studies for India POS Terminal Market

2024 Asia-Pacific POS Terminal Market Study

This study includes market sizing, POS shipments, POS installed base and trends for the key APAC countries (China, Japan, Australia-New Zealand, etc) and the region as a whole.

Includes POS market share by software vendor by segment

Provides POS shipments and POS installed base by quarter for each retail segment for the APAC region.

2024 Asia-Pacific Retail Stores/POS Sizing by Retail Chain Size

Included in this study are Market Sizing by store locations and chain size for Asia-Pacific