Overview and Scope
Restaurant point of sale (POS) software refers to specialized software explicitly designed to manage transactions, track inventory, and streamline operations within a restaurant or food service establishment. It is an integral element of a restaurant’s technological framework, responsible for handling order processing, inventory management, customer loyalty tracking, and offering insights into sales patterns and customer actions.
Sizing and Forecast
The restaurant point of sale (POS) software market size has grown strongly in recent years. It will grow from $10.62 billion in 2023 to $11.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to technology advancements, regulatory compliance, changing consumer behavior, demand for data insights, globalization and expansion, and competition and efficiency.
The restaurant point of sale (POS) software market size is expected to see strong growth in the next few years. It will grow to $15.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to contactless payment adoption, integration with ai and machine learning, emphasis on sustainability, regulatory changes, demand for omnichannel solutions, and focus on customer experience. Major trends in the forecast period include cloud-based solutions, mobile pos, subscription-based pricing models, integration with third-party apps, data security and compliance.
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Segmentation & Regional Insights
The restaurant point of sale (POS) software market covered in this report is segmented –
1) By Type: Terminal POS System, Tablet POS System, Mobile POS System, Online POS System, Self-Service Kiosk POS System, Other Types
2) By Component: Software, Hardware, Services
3) By Application: Inventory Management, Employee Clocking, Tablet Compatibility, Receipt Printing, Menu Building, Accounting Integration, Credit OR Debit Card Processing, Other Applications
4) By End-Users: Quick Service Restaurant (QSR), Full-Service Restaurant (FSR), Institutional, Other End Users
North America was the largest region in the restaurant point of sale (POS) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the restaurant point of sale (POS) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of the food and beverages industry is expected to propel the growth of the restaurant point of sale (POS) software market going forward. The food and beverages industry encompasses producing, processing, distributing, and selling edible goods and non-alcoholic drinks. The expansion of the food and beverages industry is due to changing consumer preferences, population growth, globalization, and technological advancements. Restaurant point of sale (POS) software streamlines operations, manages orders, tracks inventory, and enhances customer experiences in the food and beverages industry. For instance, in May 2021, according to the Australian Bureau of Statistics, an Australian government statistical agency, sales of food and non-alcoholic beverages in Australia’s supermarkets, grocery stores, convenience, and specialty food stores amounted to 15.1 million tonnes in the fiscal year 2021-22, compared to the 14.8 million tonnes sold in 2020-21. Therefore, the expansion of the food and beverages industry is driving the growth of the restaurant point of sale (POS) software market.
Key Industry Players
Major companies operating in the restaurant point of sale (POS) software market are Oracle Corporation, NCR Corporation, Toshiba Tec Corporation, Infor, Toast POS, Heartland Payment Systems, Shift4 Payments., PAR Tech, TouchBistro Inc., EposNow.com, Clover Network Inc., Revel Systems, SilverWare POS, Upserve Inc., POSist Technologies Pvt. Ltd., LimeTray, Focus POS, BIM POS, FoodZaps Technology, AccuPOS, EZee Technosys, Posera, Restaurant Manager, Aireus Inc.
The restaurant point of sale (pos) software market report table of contents includes:
1. Executive Summary
2. Restaurant Point Of Sale (POS) Software Market Characteristics
3. Restaurant Point Of Sale (POS) Software Market Trends And Strategies
4. Restaurant Point Of Sale (POS) Software Market – Macro Economic Scenario
5. Global Restaurant Point Of Sale (POS) Software Market Size and Growth
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31. Restaurant Point Of Sale (POS) Software Market Other Major And Innovative Companies
32. Global Restaurant Point Of Sale (POS) Software Market Competitive Benchmarking
33. Global Restaurant Point Of Sale (POS) Software Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Restaurant Point Of Sale (POS) Software Market
35. Restaurant Point Of Sale (POS) Software Market Future Outlook and Potential Analysis
36.Appendix
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