Increasing Cloud Based Systems is Helping in Boosting the Market Growth

Restaurant owners nowadays are engaged in making business processes digitized and centralized. Software for restaurant management executes a number of tasks that are essential for a restaurant to run. Restaurant owners' growing demand for versatile POS terminals is a main factor increasing the market growth. Furthermore, the rising functionality of POS terminals and software solutions that provide improved performance in handling activities in a restaurant helps in enhancing the market growth.   

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Data Bridge Market Research analyses that the Global Restaurant Point of Sale (POS) Software Market was valued at USD 15,294.3 million in 2021 and is expected to reach USD 26,953.94 million by 2029, registering a CAGR of 7.40% during the forecast period of 2022-2029. The increasing demand for the restaurant point of sale (POS) software will provide potential opportunities for the market growth in the forecast period.

Increasing utilization of POS software is anticipated to drive the market's growth rate

There has been growing adoption and utilization of restaurant POS software because of its numerous benefits provided in the organization. A POS system improves communications between the restaurant kitchen and the wait staff. The orders that are received from customers go directly to the kitchen printer via computer. POS program can track everything of a restaurant operation starting from food usage to the most popular dishes and items of a particular restaurant. It can be considered an essential tool for optimizing restaurant business operations. Incorporating restaurant POS technology makes daily restaurant operations more effective. Moreover owners and managers can decrease the cost of supplies and shrinkage and can majorly focus on customers

Report Scope and Market Segmentation

Segment Analysis:  

Global restaurant POS software market is segmented into eight notable segments which are based on the component, type, operating system, usage, application, deployment mode, enterprise size and restaurant type.

• On the basis of component, the restaurant POS software market is segmented into software, hardware and services.

The software segment of component type is anticipated to dominate the restaurant point of sale (POS) software market

The software segment is expected to dominate the global restaurant POS software market with 48.25% market share as it can effectively manage operations such as inventory, payment processing, food ordering, customer interaction, sales, and others.

• On the basis of type, the restaurant POS software market has been segmented into mobile POS system, tablet POS system, terminal POS system, online POS system, self-service kiosk POS system and others.

The terminal POS system segment of type is anticipated to dominate the restaurant point of sale (POS) software market

The terminal POS system segment is expected to dominate the global restaurant POS software market with 40.72% market share due to growing focus toward contactless payments, increasing adoption of digital menus, demand for mobility among restaurants, and digital transformation being observed in the hospitality industry.

• On the basis of operating system, the restaurant POS software market has been segmented into DOS system, linux system, windows system, MAC and android. The android segment is expected to dominate the global restaurant POS software market with 35.35% market share because of benefits provided by android operating system such as customization, flexibility, cost, easy integration, high durability, and others
• On the basis of usage, the restaurant POS software market has been segmented into online and offline. The offline segment is expected to dominate the global restaurant POS software market with 53.81% market share as it enables the restaurant to accept orders and manage transactions, in a secure way.
• On the basis of application, the restaurant POS software market has been segmented into employee clocking, inventory management, tracking & reporting, tablet compatibility, credit/debit card processing, receipt printing, accounting integration, menu building and others. The inventory management segment is expected to dominate the global restaurant POS software market with 25.53% market share because of high need to manage inventory, which includes when to order, how much to order, and more.
• On the basis of deployment mode, the restaurant POS software market has been segmented into on-premise and cloud. The outdoor segment is expected to dominate the global restaurant POS software market with 64.71% market share due to availability of large number of cloud-based restaurant POS software, manages costs, taking data driven decisions, and improved customer experience.
• On the basis of enterprise size, the restaurant POS software market has been segmented into large enterprises and SME'S. The large enterprises segment is expected to dominate the global restaurant POS software market with 61.54% market share due to factors such as order accuracy, improved service timing, effectively manage operations pertaining to bar and restaurant, shift toward cloud database, and real-time tracking of sales and generating reports.
• On the basis of restaurant type, the restaurant POS software market has been segmented into quick service restaurants (QSR) and full service restaurants (FSR). The full service restaurants (FSR) segment is expected to dominate the global restaurant POS software market with 57.12% market share due to increasing adoption of new digital technologies, eradicating paper tasks and betterment of order accuracy, easy customization of meal, fast checkout process, and accurate table handing.

Major Players

Data Bridge Market Research recognizes the following companies as the major restaurant point of sale (POS) software market players in restaurant point of sale (POS) software market are Oracle (U.S.), Infor. (U.S.), Toshiba Tec Corporation (Japan), NCR Corporation (U.S.), Toast, Inc. (U.S.), SpotOn Transact, LLC (U.S.), Clover Network, Inc. (U.S.), Epos Now (U.K.), eZee BurrP! (India), Future POS. (U.S.), Global Retail Technology Limited. (U.K.), Guest Innovations, Inc. (U.S.), Kitchen CUT Limited (U.K.), LAVU, Inc. (U.S.), Lightspeed Management Company, L.L.C. (U.S.), LimeTray. (India), Loyverse (U.S.), Mad Mobile. (U.S.), PAR Tech (U.S.), POSitouch (U.S.).

Market Development

• In 2020, TouchBistro Inc. launched a new Restaurant Recovery Navigator, a go-to source for information that offers insights, products, and one-on-one support. This launch assisted the restaurant owners to navigate their business in the COVID-19 pandemic. This has helped the company to improve their services and to enhance sales in the pandemic
• In 2020, Lightspeed acquired Upserve for USD 123.00 million in cash to enlarge its presence in the restaurant industry. Through this acquisition, the company will be able to offer the most advanced commerce platform to high-performing businesses globally. This will help the company to improve their presence and market reach in the market.

Regional Analysis

Geographically, the countries covered in the restaurant point of sale (POS) software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in restaurant point of sale (POS) software market during the forecast period 2022 to 2029

North America dominates the restaurant point of sale (POS) software market due to the increasing presence of established economies such as the U.S. and Canada and strong economic growth, rising number of market vendors, and growing regional investments. Also, prevalence of advanced IT infrastructure is another major factor boosting the dominance of this region.

Asia-Pacific is estimated to be the fastest growing region in restaurant point of sale (POS) software market the forecast period 2022 to 2029

Asia-Pacific is expected to grow from 2022 to 2029 because of the well-organized nature of the foodservice industry across India and China, growing need for improved customer experience and increasing personal disposable income.

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