Restaurant Point-Of-Sale Terminal Market- Global Industry Analysis and Forecast (2023-2029)

Restaurant Point-Of-Sale Terminal Market was valued at US$ 17.90 Bn. in 2022. Global Restaurant Point-Of-Sale Terminal Market size is estimated to grow at a CAGR of 6.4% over the forecast period.
Restaurant Point-Of-Sale Terminal Market Definition:
Their efficient management system underpins the growing demand for enhanced Restaurant Point-Of-Sale terminals compared to manual systems or a standard cash register. The Point-of-Sale system operates as a sales analysis, asset management, customer feedback, and human resource management analysis that promotes market growth. The restaurant Point-Of-Sale terminal functions include billing, maintaining daily sales figures, and inventory control to make specific business functions smooth. Daily sales and inventory data kept in the Point-Of-Sale system are visualized to study the sales pattern and assist restaurateurs in managing their monthly and annual sales. Hence, installing fixed or mobile Point-Of-Sale terminals can reduce everyday manual tasks recording sales. As a result, the Restaurant Point-of-Sale Terminal market is expected to continue rising. To know about the Research Methodology :- Request Free Sample Report

2022 is considered as a base year to forecast the market from 2022 to 2029. 2022's market size is estimated on actual numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Restaurant Point-Of-Sale Terminal Market Dynamics:
Increased demand for portable restaurant Point-Of-Sale terminals due to their compact size and portability to support market continuity

The US restaurant Point-Of-Sale terminal market is expected to grow at a 17.5% growth rate by 2029, leading to the growing use of mobile Point-Of-Sale terminals across all coffee and fast-serving restaurants. Portable Point-Of-Sale terminals enable faster-purchasing speed, increased sales, and improved customer satisfaction. As time is of the essence for fast restaurants, fast transactions enabled Point-Of-Sale terminals for mobile restaurants to seem to be beneficial in making tasks easier. These terminals help break long customer lines, helping many customers in less time. US fast food service market is increasing, with these restaurants using several marketing strategies to keep up with the growing competition. To improve customer satisfaction, they use Point-Of-Sale terminals to ensure faster performance and more effective payment methods.

There is a growing popularity of cafes and restaurants worldwide due to the growing demand for good restaurants that serve the purpose of informal meetings. There is an increase in the number of coffee shops that offer a variety of coffees and other beverages. Players are focused on introducing specially developed Point-Of-Sale solutions for cafes and restaurants. For example, Lightspeed offers a Point-Of-Sale restaurant terminal that integrates all orders into a single screen, built with advanced reports and reporting and dedicated features for exit orders. The growing number of cafes and restaurant that adopts advanced digital technology will support the expansion of the restaurant Point-Of-Sale terminal market.

The growing demand for software-based Point-Of-Sale solutions that make it easier to operate and ensure customer satisfaction.

In the German POS restaurant terminal market, software solutions held the largest market share of 15% in 2022 due to the growing adoption of cloud-based Point-Of-Sale software in major restaurants to maximize profits. The robust IT and telecom industry, coupled with the growing demand for digital payment strategies, will support the growing penetration of cloud-based software solutions. There is an excellent need for Point-Of-Sale restaurant software that enables cloud management, payment transactions and staff records.

Larger restaurants use cloud-based systems that can be easily upgraded according to growing business needs. In 2019, sales of German food services increased by almost 11.9% to USD 110.8 billion, with all key market segments, including restaurants, hotels, and restaurants/facilities, looking at growing sales. The increase in the number of restaurants that use sophisticated technology to ensure customer satisfaction will support the industry's sustainability.
Restaurant Point-Of-Sale Terminal Market Segment Analysis:
Based on the Component, Restaurant Point-Of-Sale Terminal Market is segmented into hardware and software. Part of the computer system held the largest market share of more than 67.0% in 2022. The hardware component is separated by a touch screen/desktop, a swipe card, etc. Restaurants need additional computer hardware to complete the Point-Of-Sale system, including a touch screen or tablet, cash drawer, EFTPOS, and receipt printer. Improvements in these individual devices, such as the introduction of OLED display and touch screen, hot receiver printer, and EFTPOS touch charge, are expected to further market growth.

Part of the software is expected to register a CAGR of 5.0% during the forecast period. The Point-Of-Sale system software is supported by custom restaurant software to facilitate business operations. The need to meet the customer's expectations related to their card security and identity information, payment methods and prizes is expected to further the demand for Point-Of-Sale software. Additionally, the need for software based on the type of restaurant is another factor that increases the demand for customized Point-Of-Sale software.

Based on the Application, Restaurant Point-Of-Sale Terminal Market is divided into front-end and back-end. The front-end segment held the largest market share of more than 62.0% in 2022. The main reason for accepting the Point-Of-Sale terminal restaurant is to perform advanced functions, like food ordering, billing, tracking sales, payment processing, order management, reporting, and marketing. The need to gain insight into the most popular menu item, track food consumption, and produce sequential order is expected to reap partial growth.

The back-end segment registered a CAGR of more than 6.0% during the forecast period. Adopting the Point-Of-Sale system to ensure timely order adjustment is essential to managing the main restaurant. Implementing the Point-Of-Sale system in the background improves efficiency and frees up the Point-Of-Sale terminal for managing administrative tasks. The need to maintain management confidentiality and limit access to sensitive business information away from employees due to the threat of data breaching it is critical to maximizing the need for post-restaurant dining Point-Of-Sale solutions.

Based on the End-User, Restaurant Point-Of-Sale Terminal Market is segmented into Full-Service Restaurant (FSR), Quick Service Restaurant (QSR), and FSR centre. The FSR Center is further subdivided into regular meals and snacks. The FSR segment dominated the market in 2022, accounting for more than 39.0% of the global revenue share. The restaurant segment emerged as a very high-income component due to affordable and convenient food options and growing restaurant brands like McDonald's, Wendy's, Pizza Hut, and Dunkin's eay-to-use Point-Of-Sale terminal for their supermarkets.The rise of Quick Service Restaurant (QSR) segment is expected to grow at the highest CAGR in the forecast period. The QSR segment has emerged as a very high revenue share due to easy food options and the rise of popular restaurants such as McDonald's, Wendy's, Pizza Hut, and Dunkin's easy-to-use Point-Of-Sale terminal in its supermarkets. In addition, QSR needs to take care of many customers on a short-term basis, requires Point-Of-Sale system support to assess customer needs, take immediate orders, reduce turnaround time and provide faster customer service.
Restaurant Point-Of-Sale Terminal Market Regional Insights:
The Asia Pacific region is expected to remain the largest market for POS restaurants in 2022, accounting for more than 35% of the revenue share. It is expected to grow to a much faster CAGR of xx% during the forecast period due to the fast-growing and emerging food industry in countries such as India and China due to favourable statistical conditions and rising disposable income levels. However, COVID-19 has had a negative impact on the market growth as the food industry has seen slow business losses and revenue. Various small restaurants in Asian countries have started using digital kiosks and tablets that support POS systems to display the menu, place orders, increase efficiency, and improve customer experience. The market is expected to revive the post-epidemic epidemic as normalcy returns and customers begin food and take orders.

North America has become the second-largest contributor to revenue in 2022. The fast-growing restaurant industry and the presence of a very high number of vendors providing Point-Of-Sale restaurant software is driving regional growth. In addition, the growing demand for advanced Point-Of-Sale restaurant software in the region to alleviate the daily challenges related to restaurant operations and management is expected to further market. The US contribution to market growth is due to the presence of many fast-paced restaurants in the country that have taken Point-Of-Sale terminals while some of them are switching to mobile Point-Of-Sale terminals.

The objective of the report is to present a comprehensive analysis of the global Restaurant Point-Of-Sale Terminal Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Restaurant Point-Of-Sale Terminal Market dynamic, structure by analyzing the market segments and projecting the Restaurant Point-Of-Sale Terminal Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Restaurant Point-Of-Sale Terminal Market make the report investor’s guide.
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Restaurant Point-Of-Sale Terminal Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 17.90 Bn.


Forecast Period 2023 to 2029 CAGR:
6.4%
Market Size in 2029:
US$ 27.64 Bn.


 Segments Covered:
by End-User
FS
QSR
Institutional
Others


by Component
Hardware
Software


by Application
Front-end
Back-end



Restaurant Point-Of-Sale Terminal Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Restaurant Point-Of-Sale Terminal Market Key Players
1. PAX Technology Limited (China)
2. Verifone Systems Inc. (USA)
3. NCR Corporation (USA)
4. Revel Systems (USA)
5. Aireus Inc. (Canada)
6. Dinerware, Inc. (US)
7. Posist (India)
8. EposNow (UK)
9. LimeTray (USA)
10.POSsible POS (USA)
11.Oracle Corporation (USA)
12.Posera (Italy)
13.ShopKeep (USA)
14.Squirrel Systems (Canada)
15.TouchBistro (Canada)
16.Upserve, Inc. (USA)
17.NEC Corporation (Japan)
18.Diebold Nixdorf Inc. (USA)
19.Square Inc (USA)
20.Ingenico Group (France)

Frequently Asked Questions:

1] What segments are covered in the Global Restaurant Point-Of-Sale Terminal Market report?
Ans. The segments covered in the Restaurant Point-Of-Sale Terminal Market report are based on End-User, Component, Material, and Application.

2] Which region is expected to hold the highest share in the Global Restaurant Point-Of-Sale Terminal Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Restaurant Point-Of-Sale Terminal Market.

3] What is the market size of the Global Restaurant Point-Of-Sale Terminal Market by 2029?
Ans. The market size of the Restaurant Point-Of-Sale Terminal Market by 2029 is expected to reach US$ 27.64 Bn.

4] What is the forecast period for the Global Restaurant Point-Of-Sale Terminal Market?
Ans. The forecast period for the Restaurant Point-Of-Sale Terminal Market is 2023-2029.

5] What was the market size of the Global Restaurant Point-Of-Sale Terminal Market in 2022?
Ans. The market size of the Restaurant Point-Of-Sale Terminal Market in 2022 was valued at US$ 17.90 Bn.