London, 16 October 2015 – Technavio, a tech-focused research firm, has published a new report on the point of sale (POS) terminals market in India, which is expected to grow at a CAGR of over 23% from 2015-2019.
In accordance with the latest report by Technavio, the merchants in the retail and hospitality sector are offering a personalized and interactive experience for consumers with the latest generation POS terminals.
“The installation of advanced POS terminals enables the merchants to plan beyond the simple efficiency and operational savings and focus on a range of customer-oriented campaigns to grow and expand the customer base. Besides, the growing mobile and internet penetration in India is expected to drive the payment industry in the coming years and hence propel the POS terminals market,” says Faisal Ghaus, Vice President of Technavio.
The new report by Technavio also highlights the emergence of low-cost POS terminals, as India, being a developing country, performs a majority of low-ticket transactions.
“The vendors, issuers, and the merchants are expected to develop low-cost transactions along with low-cost terminals, which will enable the SMEs to integrate the systems in their respective institutions,” adds Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- POS Terminals Market in the US 2015-2019
- Global POS Terminals Market in the Hospitality Sector 2015-2019
About Technavio
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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