According to a recent research report titled ‘Point-of-Sale (POS) Terminals Market [By Type; By Deployment; By End-User; By Regions]: Market size & Forecast, 2017 - 2026’, available with Market Study Report, global point-of-sale (POS) terminals market is projected to register a y-o-y growth rate of 12.4% during 2017-2026 and accumulate USD 169.4 billion by the end of the forecast period.
 

Growing popularity of contactless and cashless payments, and digital transformation across various industry verticals are the major growth driving factors of global point-of-sale (POS) terminals market, cites the study.
 

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Notably, benefits like faster checkout process, secure digital transactions, inventory monitoring, and sales tracking are motivating the substitution of traditional cash registries with POS terminals. Moreover, these systems are plug-and-play devices, meaning that they come with pre-installed software and don’t require any installation charges. These features are accelerating product adoption among SMEs, which is likely to play a major role in overall point-of-sale (POS) terminals market expansion in the forthcoming years.
 

Technological advancements in POS hardware have enabled transactions through various type of e-wallets and cards, giving payment flexibility to customers as well as merchants, thereby rendering a positive impact on global point-of-sale (POS) terminals industry outlook.
 

On the geographical front, North America position in global point-of-sale (POS) terminals market, largely driven by widespread technology adoption across various industry verticals such as entertainment, healthcare, retail, and hospitality. Additionally, noteworthy growth in organized retail chains, restaurants, and tourism is propelling the regional market expansion.
 

Meanwhile, Asia Pacific point-of-sale terminals market is expected to showcase strong growth trends over the forecast duration. Escalating adoption of POS terminals owing to rapid urbanization and flourishing retail sector especially in emerging economies, along government initiatives focused towards transitioning from a cash-dominant economy to digitized cash economy are fostering the industry growth in APAC.  
 

Speaking of the competitive landscape, worldwide point-of-sale (POS) terminals market is highly fragmented with Samsung Electronics Co., Ltd., Hewlett-Packard Enterprise Co., NCR Crop., NEC Corp., Panasonic Corp., POS Direct Ltd., Toshiba Corp., Squirrel Systems, Ltd., Cisco Systems, Inc., PAX Technology Ltd., Ingenico Group S.A., Micros Systems, Inc., and VeriFone Holdings, Inc. as the top contenders.