Because of on-site deployment of mPOS terminals provides several benefits such as the ability to customize the mPOS solutions according to the requirements of the store owners, lesser reliance on various third-party vendors, and greater control on the data. The market is also categorized, on the basis of application, into retail, hospitality, food service, warehouse, sports and entertainment, and healthcare. Amongst these, the retail category will register the highest growth in the market in the future.

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This will be because of the increasing adoption of the point-of-sale technology by various retailers around the world. This technology helps retail outlets mitigate the issue of long queues and attain higher sales than before. For example, mPOS systems were deployed by Walmart Inc. for the quick on-the-spot check-out in as many as 350 stores in the U.S. in 2018. Globally, the market exhibited the highest growth in the Asia-Pacific (APAC) region in the past.

Furthermore, the APAC mobile POS terminals market is set for rapid expansion in the forthcoming years. The main factor driving the progress of the market is the rapid advancement of the healthcare, retail, and hospitality sectors, on account of the economic growth of regional countries such as China and India. Besides this, the presence of a flourishing retail industry and the rising popularity of contactless transactions are also contributing toward the growth of the market.

Hence, it can be said with certainty that the market will register huge expansion all over the world in the coming years, mainly because of the rising requirement for faster and contactless payment procedures and the growing demand for quicker check-out times in stores around the world.