U.S. Restaurant POS Software Market, By Component (Software, Hardware And Services), Type (Mobile POS System, Tablet POS System, Terminal POS System, Online POS System, Self-Service Kiosk POS System And Others), Operating System (DOS System, Linux System, Windows System, MAC And Android), Usage (Online And Offline), Application (Employee Clocking, Inventory Management, Tracking & Reporting, Tablet Compatibility, Credit/Debit Card Processing, Receipt Printing, Accounting Integration, Menu Building And Others), Deployment Mode (On-Premise And Cloud), Enterprise Size (Large Enterprises and SME’S), Restaurant Type (Quick Service Restaurants (QSR) And Full Service Restaurants (FSR)) Industry Trends and Forecast to 2028
Market Analysis and Insights: U.S. Restaurant POS Software Market
Restaurant POS software market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.6% in the forecast period of 2021 to 2028 and is expected to reach USD 1,545.65 million by 2028. Majority of restaurants in U.S. adopting digitization and POS software is acting as major factor for the growth of the market.
Restaurant POS software is a point of sale solution that manages all the transactions that happen at a restaurant environment. A restaurant POS system evolved from earlier restaurant billing software that accepted orders and generated a receipt to become a complete restaurant management system. Restaurant POS software offers smart reporting & analytics, stock & inventory management, customer relationship management, reduces manual labor and simplifies operations adding to this it integrates with the various third party applications such as e-wallets, online ordering, loyalty programs, table reservations, and others.
A POS system offers following numerous benefits to the restaurant owners and customers. POS system simplifies communications between the kitchen and the wait staff. The POS system works as a time clock which helps to prepare payroll activities for employees, tracks everything from food usage to the popular food items, organizes profit and loss statement of business and sales tax, also saves lot of cost associated with certain operations and others. Managers and owners of restaurants can use POS tools and solution to compare business practices at various locations, also eases the onboarding process for new employees, and track employee and business effectiveness.
The growth of the market has been highly boosted by growing adaption of digital payments by the customers. Growing technological innovations in restaurant industry is boosting the growth of the restaurant POS software market. The restaurant POS software requires high capital requirement for installation, maintenance, and other technical expertise costs which acts as major restraint factor for the U.S. & Canada restaurant POS software market.
This restaurant POS software market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
U.S. Restaurant POS Software Market Scope and Market Size
Restaurant POS software market is segmented on the basis of component, type, operating system, usage, application, deployment mode, enterprise size and restaurant type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the restaurant POS software market is segmented into software, hardware and services. In 2021, software category held maximum share in restaurant POS software, owing to effectively manage operations such as food ordering, inventory, payment processing, customer interaction, sales, and others. Moreover, factors such as adoption of new technological innovations by restaurants, demand for personalized experience, are likely to impact the growth positively, in coming years.
- 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. In 2021, terminal POS system accounted for largest share in the market, due to increasing focus toward contactless payments, demand for mobility among restaurants, high adoption of digital menus, and overall digital transformation being witnessed 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. In 2021, android category held largest share in the market. This is mainly attributed to benefits offered by android operating system such as flexibility, customization, cost, high durability, easy integration, and others. In addition, the number of android platforms available to customers is high, which is another major factor impacting the growth of the market.
- On the basis of usage, the restaurant POS software market has been segmented into online and offline. In 2021, online category held larger share in the market as it allows the restaurant to accept orders and manage transactions, in a secure way. Moreover, it also allows tracking customer orders, integrating with other applications, track inventory, and others.
- 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. In 2021, inventory management held largest share in the market. This is mainly due to high need to manage inventory, which includes when to order, how much to order, and more. It helps in keeping a real-time track on the inventory stock levels, whether in-transit, in-stock or sold, across all sales channels.
- On the basis of deployment mode, the restaurant POS software market has been segmented into on-premise and cloud. In 2021, cloud held larger share in the market. This is mainly attributed 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. In 2021, large enterprises category held larger share in the market, attributed to factors such as order accuracy, improved service timing, shift toward cloud database, effectively manage operations pertaining to bar and restaurant, 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). In 2021, full service restaurant (FSR) held maximum share in the market. This is mainly due to rapid adoption of new digital technologies, eliminating paper tasks and improving order accuracy, easy customization of meal, fast checkout process, and accurate table handing. Additionally, in order to maintain a competitive advantage, it is necessary to cater changing customer needs, which would further result in increased adoption of POS systems.
Rising Demand of Restaurant POS Software
Restaurant POS software market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in restaurant POS software and changes in regulatory scenarios with their support for the market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Restaurant POS Software Market Share Analysis
Restaurant POS software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to U.S. restaurant POS software market.
Some of the major players operating in the restaurant POS software market are Oracle, Infor, Toshiba Tec Corporation, NCR Corporation, LAVU Inc., Lightspeed, LimeTray, Revel Systems, Worldline, TouchBistro Inc., Talech Inc., Square Inc., POSitouch, PAR Technology Corp., Global Retail Technology Limited, Mad Mobile, Future POS, Guest Innovations Inc., Clover Network Inc., Appetize Technologies Inc., Toast Inc., Shift4 Payments LLC, SpotOn Transact Inc. among others.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of restaurant POS software market.
For instance,
- In April 2020, TouchBistro Inc. launched new Restaurant Recovery Navigator which is a go-to source for information, provides insights, products and one-on-one support. This launch helped restaurateurs to navigate their business in the COVID-19 pandemic. This has helped the company to enhance their offerings and to enhance sales in the pandemic.
- In September 2020, NCR Corporation collaborated with Microsoft to power NCR Digital Connected Services (DCS). Under this collaboration, NCR’s Digital Connected Services Internet of Things (IoT) management software will run on Azure IoT AI technology. Through this, NCR’s retail, restaurant and banking customers will gain a IoT monitoring and managed services solution. This has helped the company to enhance their offerings and to better meet consumers changing demand.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for restaurant POS software through expanded range of size.
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