POS Restaurant Management System Market Size, Share, Growth, and Industry Analysis, By Type (Fixed POS Terminal, Mobile POS Terminal), By Application (Inventory & Stock Management, Delivery Management, Order Management, Billing, Others), Regional Forecast To 2028

Updated On: 11 September 2023

Report Overview

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The global POS restaurant management system market size was USD 13410 million in 2022. As per our research, the market is expected to reach USD 20620 million in 2028, exhibiting a CAGR of 7.4% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with POS restaurant management system market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

A POS (Point of Sale) restaurant management system is a software solution designed to streamline and optimize various processes within a restaurant or food establishment. It combines hardware and software components to facilitate order processing, payment handling, inventory management, reporting, and other essential tasks.

The market for POS restaurant management systems had been experiencing steady growth due to the increasing adoption of technology in the foodservice industry. The demand for efficient operations, data analytics, and improved customer experiences was driving the adoption of these systems.

COVID-19 Impact: Pandemic Hampered the Demand for Market due to Restrictions Imposed

With lockdowns, social distancing measures, and restrictions on indoor dining, many restaurants experienced reduced foot traffic and shifted towards delivery and takeout services. This might have led to a decreased demand for POS restaurant management system that catered primarily to in-house dining operations. Restaurants that had not yet adopted online ordering and delivery systems were forced to do so rapidly. Cloud-based POS systems that integrated with online platforms gained importance. Many POS vendors adapted by adding features to facilitate online ordering, contactless payments, and integration with third-party delivery services. The pandemic accelerated the adoption of contactless payment methods as customers and businesses alike sought to minimize physical contact. POS systems that supported various contactless payment options, such as mobile wallets and QR code payments, became more appealing. Restaurant owners needed to adhere to new health and safety guidelines, which included minimizing physical contact and managing occupancy limits. POS systems that could assist with table management, reservation systems, and real-time occupancy monitoring became crucial.

Latest Trends

"Cloud-Based Solutions to Fuel Market Growth"

Cloud-based POS systems were gaining popularity due to their flexibility, accessibility, and cost-effectiveness. This trend is likely to continue as more restaurants opt for cloud solutions that allow them to manage their operations from any location and device. Mobile POS solutions were becoming more prevalent, allowing servers to take orders and process payments directly at the table using tablets or smartphones. This trend enhances customer experience and streamlines the ordering process. POS restaurant management systems are increasingly being integrated with other restaurant management tools such as inventory management, customer relationship management (CRM), and accounting software. This integration helps restaurants streamline their operations and gain insights into customer behavior and preferences. As digital transactions became more common, the need for robust data security and compliance with regulations like the Payment Card Industry Data Security Standard (PCI DSS) was a growing concern for restaurant owners. Restaurants were focusing on integrating online ordering and delivery platforms with their POS systems to handle both in-house dining and off-premises orders seamlessly.

Segmentation

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• By Type

According to type, the market can be segmented into fixed pos terminal, mobile pos terminal.

• By Application

Based on application, the market can be divided into inventory & stock management, delivery management, order management, billing, others.

Driving Factors

"Efficiency and Streamlined Operations to Drive Market Growth"

POS restaurant management systems offer tools to streamline various restaurant operations such as order taking, billing, inventory management, and staff scheduling. Restaurants adopt these systems to enhance their overall efficiency and reduce manual errors. POS systems enable faster order processing, accurate billing, and better customization of orders. This contributes to an improved customer experience, leading to higher customer satisfaction and increased patronage. Modern POS systems often come with data analytics capabilities that allow restaurant owners to gather insights about customer preferences, popular menu items, peak hours, and more. This data-driven approach helps in making informed business decisions to optimize the menu and pricing strategies. Integrated inventory management features help restaurant owners track their stock levels in real-time. This prevents shortages or overstocking, reducing wastage and improving cost control. Many restaurants have integrated their POS systems with online ordering platforms and delivery services. This integration facilitates smooth order processing, reducing the chances of errors and ensuring timely delivery. POS systems often offer table management features that help restaurants optimize seating arrangements, manage reservations, and reduce wait times during peak hours. Comprehensive reporting functionalities in POS systems help restaurant owners monitor sales trends, track expenses, and manage finances effectively. All these factors are contributing to POS restaurant management system market growth.

Restraining Factor

"High Initial Investments to Restrict Market Growth "

Implementing a comprehensive POS restaurant management system can involve significant upfront costs, including hardware, software licenses, training, and ongoing maintenance. Small and budget-constrained restaurants might find it challenging to afford these expenses. Introducing a new POS system requires training for restaurant staff to effectively use the software. Complicated interfaces and a steep learning curve can lead to resistance and potential operational disruptions during the transition period

Regional Insights

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"North America Anticipated to Drive Market Expansion due to Presence of Key Players"

North America holds leading position in POS restaurant management system market share. The U.S. and Canada were significant players in the market due to the high penetration of technology in their restaurant industry. The demand for advanced POS systems was driven by factors such as increasing customer expectations, a competitive market, and the need for efficient management.

Key Industry Players

"Adoption Innovative Strategies by Key Players to Influence Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Verifone System, Ingenico Group, Ravel Systems POS, EPOS now, Lavu, AccuPOS, Clover, POSist Technologies Pvt. Ltd., PAX Technology, TouchBistro. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Verifone System (U.S.)
• Ingenico Group (France)
• Ravel Systems POS (U.S.)
• EPOS now (U.K.)
• Lavu (U.S.)
• AccuPOS (U.S.)
• Clover (U.S.)
• POSist Technologies Pvt. Ltd. (India)
• PAX Technology (China)
• TouchBistro (Canada)

Report Coverage

This report examines an understanding of the POS restaurant management system market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.