Restaurant Point-of-Sale Terminal Market Size, Regional Share, Trends and Growth Opportunity Analysi

Author : Prathamesh Pathar | Published On : 09 Apr 2024

The restaurant point-of-sale terminal market was estimated to be worth USD 23.76 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.4% during the forecast period. A point-of-sale (POS) terminal for restaurants is a customized computerized system used to manage and expedite different parts of restaurant operations. It acts as the main center for handling transactions, monitoring sales, controlling inventories, and enabling effective customer support.

The restaurant POS terminal market’s development potential, constraints, and trends are the main topics of this analysis. To comprehend the effects of numerous variables on the restaurant point of sale terminal market outlook, including supplier bargaining power, competitor competitive intensity, threat of new entrants, threat of substitutes, and buyer bargaining power, the study offers Porter’s five forces analysis.

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Market Segmentation

By Application

Front-End
Back-End

Regional Scope

North America
Europe
APAC
South America
Middle East
Africa

Key Players

PAX Technology Limited
Verifone Systems Inc.
NCR Corporation
Revel Systems
Aireus Inc.
Dinerware, Inc.
Posist
EposNow
LimeTray
POSsible POS
Oracle Corporation
Posera
ShopKeep (acquired by LightSpeed)
Squirrel Systems
TouchBistro
Upserve, Inc.

Market Demand

The market expansion for restaurant point-of-sale terminals is anticipated to be driven by the improved customer experience. Through expedited order processing, table management, and customized promotions, point-of-sale (POS) systems may improve customer service and elevate the dining experience in general. Moreover, POS systems can monitor patron preferences and order histories, enabling restaurant employees to provide tailored recommendations and guarantee precise and effective service. POS systems save client wait times by processing payments safely and swiftly, making for a smoother and pleasurable eating experience. These systems also make it simple for restaurants to keep track of sales and inventory, guaranteeing that popular goods are always accessible and lowering the possibility that patrons would be disappointed.

POS systems are easy targets for hackers because they manage sensitive client data and payments. Ensuring strong cybersecurity defenses is a constant struggle. Businesses need to be up to speed with the newest security standards since cybercriminals are always changing their strategies. The danger of data breaches may be reduced by putting security measures like encryption, two-factor authentication, and frequent system upgrades into place. Creating a robust defense against prospective assaults also requires extensive personnel training on cybersecurity best practices.

Regional Analysis

1. North America

The restaurant business in North America, and especially in the United States, has seen a notable uptake of Point of Sale (POS) systems. The region’s highly developed infrastructure, strong customer demand, and broad acceptance of digital payments all support the market’s expansion. Large restaurant chains, quick-service restaurants (QSRs), and fast-food outlets are the main drivers of demand for sophisticated point-of-sale (POS) systems that offer capabilities like menu management, order personalization, and interaction with outside services. The use of POS terminals with integrated payment processing and online purchasing capabilities has been further influenced by the trend toward contactless payments and mobile ordering, which has gained traction in this region.

2. Europe

Europe’s restaurant business has a developed and competitive market for point-of-sale (POS) terminals. Strong adoption rates are seen in nations like the United Kingdom, Germany, France, and Italy because of their developed restaurant industries and high levels of consumer expenditure on eating out. Restaurants in the area have had to invest in point-of-sale (POS) systems that accept online ordering and smartphone payments due to the shift towards these services. POS terminals that prioritize data security and privacy are chosen in part because of regulatory constraints, such as compliance with the General Data Protection Regulation (GDPR).

3. Asia Pacific

The middle class is growing, the area is becoming more urbanized, and eating out is becoming more and more popular in Asia Pacific, which is driving the market for restaurant point-of-sale terminals. Large restaurant chains as well as independent small businesses are widely distributed throughout nations like China, India, Japan, and South Korea, which drives up demand for point-of-sale (POS) systems that can handle a wide range of company needs. The growth of POS terminals that allow various payment methods and integrations is being driven by the rising use of digital wallets, mobile payments, and online meal delivery platforms in the region.

4. Latin America

An increasing number of digital payments, shifting customer tastes, and the developing foodservice industry are all contributing to the expansion of the Latin American restaurant point-of-sale (POS) terminal market. Important markets in the area include Brazil, Mexico, and Argentina, where the need for point-of-sale (POS) systems that provide multi-location administration and centralized reporting is being driven by a combination of domestic and foreign restaurant chains. The necessity for POS terminals that can handle many languages, currencies, and tax rules is fueled by the region’s rich culinary culture and burgeoning tourism economy.

5. Middle East and Africa

The market for restaurant point-of-sale terminals is expected to develop significantly in the Middle East and Africa due to factors such as growing urbanization, increased tourism, and an increase in eating facilities. The restaurant industry is expanding in nations like South Africa, Saudi Arabia, and the United Arab Emirates, and these nations are also seeing a rise in the use of point-of-sale (POS) systems to boost customer satisfaction and operational effectiveness. In the POS terminal industry in this area, integration with mobile payment platforms—such as mobile wallets and region-specific payment apps—is crucial.

Scope of the Report

This study provides estimates and data for the Restaurant Point-of-Sale Terminal Market for the past, present, and future. An extensive research approach was used to establish the market estimations that are included in the study. Multiple research channels are used in the accepted research approach, including primary, secondary, and subject-related expert input. The Seasonal Affective Disorder Market is estimated by taking into account the impact of many economic, social, and political aspects in addition to the present market dynamics. The market data is also defined by different laws, government expenditures, and the expansion of research and development. The market projections take into account both favorable and unfavorable changes in the market.

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