The Restaurant POS Terminals by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Restaurant POS Terminals, The restaurant pos terminals market size has grown strongly in recent years. It will grow from $15.09 billion in 2023 to $16.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to customization and integration, economic conditions, consumer behavior, market entrants, adoption phases.
The restaurant pos terminals market size is expected to see strong growth in the next few years. It will grow to $22.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to mobile integration, cloud-based solutions, contactless payments, ai and analytics, demand for customization. . Major trends in the forecast period include evolving user interfaces, demand for mobility, omnichannel capabilities, integration of qr codes, subscription-based models
The growing trend of online food ordering is expected to propel the growth of the restaurant POS terminal market going forward. Online food ordering is the process of placing a food order from a website or other application, either for delivery or pickup. The expansion of online ordering and meal delivery is partly a result of shifting consumer tastes. Restaurant customers are increasingly using mobile apps to place online food orders. Restaurants are utilizing POS systems more frequently to streamline operations and improve customer satisfaction. For instance, according to a food delivery article, published in January 2023 by Appmysite, a US-based no-code mobile app builder, 70% of the customers in the USA prefer to purchase food online and want to have it delivered. Compared to on-site ordering, digital ordering is expanding at a rate that is almost three times faster. Therefore, the growing trend of online food ordering is expected to propel the growth of the restaurant POS terminal market.
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The restaurant pos terminals market covered in this report is segmented –
1) By Type: Fixed POS Terminals, Mobile POS Terminals
2) By Deployment Mode: On-Premise, Cloud
3) By Application: Front End, Back End
4) By End User: Full-Service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional Full-Service Restaurant, Other End Users
Product innovation is a key trend gaining popularity in the restaurant POS terminals market. Major companies operating in the restaurant POS terminals market are focused on developing innovative solutions to strengthen their position in the market. For instance, in April 2022, Toast, Inc. a US-based restaurant management cloud-based software company launched Toast for Quick Service, a specially designed POS system geared toward limited-service restaurants of all sizes. Toast Mobile Order and Pay Kiosks, for instance, offer enhanced capabilities from Toast’s restaurant-grade hardware, enabling companies to accept orders more quickly and precisely, resulting in fewer comps and voids as well as higher gratuities and increased staff retention.
The restaurant pos terminals market report table of contents includes:
1. Executive Summary
2. Restaurant POS Terminals Market Characteristics
3. Restaurant POS Terminals Market Trends And Strategies
4. Restaurant POS Terminals Market – Macro Economic Scenario
5. Global Restaurant POS Terminals Market Size and Growth
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26. South America Restaurant POS Terminals Market
27. Brazil Restaurant POS Terminals Market
28. Middle East Restaurant POS Terminals Market
29. Africa Restaurant POS Terminals Market
30. Restaurant POS Terminals Market Competitive Landscape And Company Profiles
Top Major Players:
- NCR Corporation
- NEC Corporation
- Oracle Corporation
- Panasonic Holdings Corporation
- PAX Technology
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