Quick service restaurants are those restaurants which usually offers food products which needs minimal preparation time and can be provided quickly. They offer limited menu which can be prepared in less time. The orders are usually prepared and highly structured, with no space for variation. Some of the common types of the quick service restaurants are self service restaurants, assisted self service restaurants, and full serviced restaurants. Today, these QSR are adopting different technologies so they can create new ways enhance their productivity and efficiency. Some of the common technologies used are kiosks, digital menu cards, the point sale solutions, and other.
Some of the factors which are responsible for the growth of the Global Quick Service Restaurant IT Market in the forecast period 2018-2025:
The market is based on component. Based on component, the market is quick service restaurant IT segmented into hardware, software and services.Based on hardware, the market is sub segmented into digital signage, kiosks, drive thru terminals, point of sales, handheld devices, and digital menu cards. Based on software, the market is segmented into front of house, inventory management, reconciliation, labor management, HR software, data analytics, marketing, restaurant operation, support operation and franchise management.
Some of the recent developments in the market by some of the prominent player in the market in the forecast period of 2018- 2025:
Quick Service Restaurant IT Market is expected to reach USD 18,664 million by 2025 from USD 10387.33 million in 2017 and is projected to grow at a CAGR of 7.6% in the forecast period of 2018 to 2025
The renowned players in quick service restaurant IT market are Abcom Pty Ltd., CAKE CORPORATION, Cognizant, Delphi Display Systems Inc., GoFrugal Technologies Pvt. Ltd., HM Electronics, Inc, Imagine! Print Solutions, LG Display Co. Ltd., Microsoft Corporation, NCR Corporation, NEC Display Solutions of America, Inc., Oracle Corporation, Panasonic Corporation, PAR Technology Corporation, Revel Systems, Inc., Restaurant Service Solutions, Verifone Systems, Inc., The Wendy’s Company, Restaurant Brands International, Dunkin' Brands Group and many more.
Favorable government policies and increasing rules and regulation associated with the QSR IT are the factors which is affecting the market growth positively. On the other hand, rising automation in quick service restaurant will also accelerate the demand of the quick service restaurant IT. Growing demand for accurateness in the financial dealings will also affect the growth of the market. On the other hand, rapid urbanization, and increase usage of digital services & devices will also enhance the demand of the quick service restaurant IT in the forecast period of 2018- 2025.
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Global Quick Service Restaurant IT Market– Industry Trends and Forecast to 2025