Restaurant Point of Sale Terminal Report 2024 - Growth of Mobile Point-of-Sale (mPOS) Systems Drives Adoption of Mobile-compatible Restaurant Management Software - A US$30.4 Billion Market by 2030
Thursday, 21 November 2024 ()
Dublin, Nov. 21, 2024 (GLOBE NEWSWIRE) -- The "Restaurant Point of Sale (POS) Terminal - Global Strategic Business Report" has been added to * ResearchAndMarkets.com's* offering.
The global market for Restaurant Point of Sale (POS) Terminal was estimated at US$20.4 Billion in 2023 and is projected to reach US$30.4 Billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
*What Are the Key Drivers Accelerating the Restaurant POS Terminal Market?*
The growth in the restaurant POS terminal market is driven by several factors reflecting technological adoption, customer expectations, and industry needs. One primary driver is the increasing demand for streamlined and efficient operations. With high labor costs and the need to optimize resources, restaurants are looking for solutions that enhance workflow efficiency and improve order accuracy. POS terminals help automate many aspects of the ordering, payment, and inventory process, reducing manual errors and enabling staff to serve customers faster and more accurately. This focus on efficiency has driven both independent and chain restaurants to invest in advanced POS systems that support these goals.
Another significant driver is the shift in consumer preferences toward cashless and digital transactions, which accelerated during the COVID-19 pandemic. Customers now expect multiple payment options, including contactless and mobile payments, which most modern POS systems readily accommodate. The growth of digital ordering and delivery services is also pushing restaurants to adopt POS systems that can seamlessly integrate with online ordering platforms, enabling a unified approach to in-house and third-party orders. As restaurants adapt to these changing consumer behaviors and technological advancements, the demand for comprehensive, integrated POS solutions is expected to continue growing, supporting the market's expansion as a key component of modern restaurant management.
*What Challenges and Opportunities Exist in the Restaurant POS Terminal Market?*
While restaurant POS terminals offer many benefits, the market faces several challenges, particularly around security, integration, and high upfront costs. Data security is a critical concern, as POS terminals handle sensitive customer information and payment data. Breaches or vulnerabilities in POS systems can result in data theft, fines, and loss of customer trust, pushing manufacturers to prioritize PCI compliance and implement robust security protocols. Additionally, integrating POS systems with other software, such as accounting, inventory management, and third-party delivery platforms, can be complex and costly. Many restaurants, especially smaller ones, may find it difficult to afford and maintain these integrated systems due to the high initial investment and ongoing maintenance costs.
Despite these challenges, the market also presents substantial growth opportunities, particularly in the areas of cloud computing, mobile capabilities, and data-driven customer insights. As restaurants increasingly embrace digital transformation, there is a growing demand for scalable, flexible, and cost-effective cloud-based POS systems. Moreover, the rise of third-party delivery and online ordering platforms has created a need for POS systems that can integrate smoothly with these services, enabling restaurants to manage all orders and payments from a single platform. Companies that can provide user-friendly, integrated solutions that address these evolving needs are well-positioned to gain a competitive edge. Additionally, the demand for self-service kiosks and mPOS devices is increasing as restaurants look to optimize labor and enhance the customer experience, presenting new avenues for growth within the POS terminal market.
*Scope of the Study*
The report analyzes the Restaurant Point of Sale (POS) Terminal market, presented in terms of market value (US$ Million). The analysis covers the key segments and geographic regions outlined below.
*Segments*
· Product (Fixed, Mobile); Component (Hardware, Software); End-Use (Full Service Restaurant, Quick Service Restaurant, Institutional, Other End-Uses)
*Key Insights:*
· Market Growth: Understand the significant growth trajectory of the Fixed POS Terminal segment, which is expected to reach US$22.9 Billion by 2030 with a CAGR of a 5.5%. The Mobile POS Terminal segment is also set to grow at 7.1% CAGR over the analysis period.
· Regional Analysis: Gain insights into the U.S. market, estimated at $5.4 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $6.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
*Key Questions Answered:*
· How is the Global Restaurant Point of Sale (POS) Terminal Market expected to evolve by 2030?
· What are the main drivers and restraints affecting the market?
· Which market segments will grow the most over the forecast period?
· How will market shares for different regions and segments change by 2030?
· Who are the leading players in the market, and what are their prospects?
*Report Features:*
· Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
· In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
· Company Profiles: Coverage of major players in the Global Restaurant Point of Sale (POS) Terminal Market such as Action Systems, Inc., Aireus Inc., Dinerware, Inc., EposNow, Harbortouch Payments and more.
· Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
*Some of the 36 companies featured in this Global Restaurant Point of Sale (POS) Terminal Market report include:*
· Action Systems
· Aireus
· Dinerware
· EposNow
· Harbortouch Payments
· Ingenico Group
· LimeTray
· NCR
· Oracle
· PAX Technology
· Posera
· Posist
· POSsible POS
· Revel Systems
· Squirrel Systems
· Toshiba
· TouchBistro
· Upserve
· Verifone Systems
*Key Attributes:*
*Report Attribute* *Details*
No. of Pages 92
Forecast Period 2023 - 2030
Estimated Market Value (USD) in 2023 $20.4 Billion
Forecasted Market Value (USD) by 2030 $30.4 Billion
Compound Annual Growth Rate 5.9%
Regions Covered Global
*Key Topics Covered:*
*MARKET OVERVIEW*
· World Market Trajectories
· Global Economic Update
· Restaurant Point of Sale (POS) Terminal - Global Key Competitors Percentage Market Share in 2024 (E)
· Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
*MARKET TRENDS & DRIVERS*
· Growing Need for Operational Efficiency and Automation Drives Adoption of Restaurant Management Software Solutions
· Increasing Popularity of Online Ordering and Delivery Services Expands Addressable Market for Integrated Restaurant Management Systems
· Advancements in Cloud Computing Propel Growth of Cloud-based Restaurant Management Software Platforms
· Rising Consumer Preference for Contactless Payments Spurs Integration of Digital Payment Solutions in Restaurant Software
· Enhanced Data Analytics and Reporting Capabilities Strengthen Business Case for Investment in Advanced Restaurant Management Tools
· Increasing Demand for Real-time Inventory Management Accelerates Adoption of Sophisticated Restaurant Software
· Integration of Artificial Intelligence and Machine Learning Generates Opportunities for Personalized Customer Experiences in Restaurants
· Growth of Mobile Point-of-Sale (mPOS) Systems Drives Adoption of Mobile-compatible Restaurant Management Software
· Emphasis on Customer Loyalty Programs and CRM Functionality Expands Market Demand for Comprehensive Restaurant Solutions
· Rising Labor Costs Propel Demand for Workforce Management Features in Restaurant Management Software
· Expansion of Multi-location Restaurant Chains Strengthens Need for Scalable and Centralized Management Software
· Increasing Focus on Reducing Food Waste and Enhancing Sustainability Spurs Demand for Efficient Inventory Systems
*FOCUS ON SELECT PLAYERS*
· Action Systems, Inc.
· Aireus Inc.
· Dinerware, Inc.
· EposNow
· Harbortouch Payments, LLC.
· Ingenico Group.
· LimeTray
· NCR Corporation
· Oracle Corporation
· PAX Technology Limited
· Posera
· Posist
· POSsible POS
· Revel Systems
· Squirrel Systems
· Toshiba Corporation
· TouchBistro
· Upserve, Inc.
· Verifone Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/bi88k
*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
*Attachment*
· Restaurant Point of Sale (POS) Terminal Market
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