India to help global POS shipments reach 270 mn by 2025

Global point-of-sale device (POS) shipments are expected to reach 270 million units by 2025, with a compound annual growth rate (CAGR) of 19 per cent, and India will be a key factor behind this growth, a new report has said.

China is currently the leading global POS market capturing half of it, followed by Latin America and Europe. Going forward, India will become the fastest-growing market (+38 per cent CAGR) driven by the digital transformation of retail and rising consumer preference for online transactions, according to Counterpoint Research.

The rapid urbanisation, globalisation of employment and rising travel will foster the development of the POS market in hospitality segments, said research analyst Soumen Mandal.

Retail, hospitality and healthcare industries are the top applications for the POS market.

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