RESTAURANT MANAGEMENT SOFTWARE MARKET REPORT OVERVIEW
- Request a Free Sample to learn more about this report
The global restaurant management software market size was USD 2851.3 million in 2022 and is anticipated to reach USD 6244.17 million by 2031 and exhibit a CAGR of 9.1% during the forecast period. In the market study, our analysts have considered restaurant management software players such as Toast, GoFrugal Technologies, Square, Yelp, Zoho, eZee Technosys, Flipdish, Schedulefly, Evergreen, BIM POS, SevenRooms, Spiffy, Lightspeed, NCR and TouchBistro.
The global restaurant management software market has witnessed a detrimental impact of the coronavirus pandemic. In recent years, consumers' dine-out trends have increased due to improved income levels and living standards.
The entrance of new restaurants and the expansion of existing restaurant chains have augmented the demand for restaurant management software due to growing digitization. Restaurants around the globe are adopting advanced restaurant management software such as inventory management tools and POS solutions to streamline their operations, allowing them to manage the restaurant effectively. The expanding global population, hectic lifestyle schedules, and personal disposable income levels boost the demand for restaurant food. They are likely to bolster the growth of the restaurant management software market.
COVID-19 IMPACT
"Reduced Restaurant Operations Amidst Pandemic to Affect the Industry "
The sudden emergence of the coronavirus pandemic has wreaked unprecedented challenges on the global economy and hampered the growth of several industries and markets, including the restaurant management software market. The implementation of stringent lockdown and curfew restrictions by the government of several nations have drastically affected the market growth. The shutdown of restaurants in several countries has declined the demand for restaurant management software. The high fear amongst consumers of contracting the virus from restaurant-cooked food has aggravated the market situation. Nonetheless, many countries have eased their lockdown restrictions, and the restaurant industry is slowly gaining traction. The market is expected to witness steep growth post-pandemic.
The instantaneous escalation in the CAGR is attributable to the restaurant management software market growth and demand returning to pre-pandemic levels after the pandemic is over.
LATEST TRENDS
"Increasing Restaurant Technology Transformation to Influence Industry Growth"
The demand for front-end restaurant management software has increased in the past years. Due to the increasing populace visiting the restaurant for dining out, many restaurateurs are launching consumer interactive software and waitlist management systems that enable customers to order and pay at their table. Additionally, the growth of online food aggregators in countries such as India has induced restaurateurs to adopt payment and order processing software to streamline their operations. Full-service restaurants are expected to be the highest demand claimer for the restaurant management software. The evolving advancements in restaurant technology are expected to bolster market growth in the forthcoming years.
RESTAURANT MANAGEMENT SOFTWARE MARKET SEGMENTATION
- Request a Free Sample to learn more about this report
Based on type, the market trifurcates into hybrid, forestage management, and backstage management. Based on application, the market segments into coffee shops, bars, restaurants, and others. Out of these, the forestage management segment is anticipated to witness the highest growth in the market. Geographically, the market is classified into five major regions- North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
DRIVING FACTORS
"Ever-Increasing Global Population & Improving Income Levels to Foster Market Growth"
The growing busy lifestyles induce the customers to dine out or get the food delivered to them. The improving income levels and living standards boost the consumer trends of eating from restaurants. The expansion of food aggregators due to increasing online food ordering by consumers is expected to boost the market growth. To meet the dynamic customer requirements and gain a competitive edge in the market, restaurateurs adopt restaurant management software to automate their processes, such as kitchen and order management software. The management software helps restaurants to enable fast ordering and checkout and also improve their accuracy.
"Expansion of Food-Service Industry to Bolster Market Growth"
There has been a swift increase in non-home cooked food demand due to the expansion of the food-service industry. The increasing globalization and FDI have enabled consumers to enjoy a wide variety of food and beverages. The booming food industry has been further flourished with the advent of online food aggregators in countries such as India, Korea, and China. The increasing automation in the food-service industry is expected to create lucrative growth opportunities for the restaurant management software market. Additionally, the rising vegan population and the growing popularity of organic and gluten-free products are expected to boost market growth in the coming years. The surging need for inventory management in the food-service industry is anticipated to stimulate the global restaurant management software market growth.
RESTRAINING FACTORS
"Lack of a Single Software that Offers Unified Services May Hinder Market Growth"
The restaurant management software is available according to the niche requirements in the market. There is a lack of software that offers unified services. This restricts restaurateurs from streamlining their business processes due to the different management software for managing a single restaurant. Hence, the lack of a single software that offers unified services may restrain market growth in the forthcoming years.
RESTAURANT MANAGEMENT SOFTWARE MARKET REGIONAL INSIGHTS
- Request a Free Sample to learn more about this report
"Increasing FDI to Skyrocket Growth in Asia Pacific"
Asia Pacific is slated to witness the fastest growth in the global restaurant software market share. The favorable demographic conditions and the improving income levels in countries such as India and China are expected to fuel the market growth significantly. The surging adoption of restaurant management software due to increasing FDI and the emergence of new market players are anticipated to boost the growth of the market. The growing adoption of POS software that uses tablets is likely to stimulate market growth.
North America is anticipated to gain the largest share in the market due to the early adoption of restaurant technology solutions such as employee scheduling, kitchen management, table management, recipe management, menu management, and others. Additionally, the presence of high-income groups is anticipated to surge the market growth.
Europe is likely to observe substantial growth in the forthcoming years. The rising digitization and the adoption of cloud-based restaurant management software are projected to augment the market growth. Moreover, the improving living standards and income levels are expected to foster growth for the restaurant management software market.
Latin America is expected to witness steady growth in the global market. The increasing adoption of POS software in the expanding food-service industry is likely to accumulate growth for the market.
The Middle East & Africa is anticipated to gain considerable growth in the upcoming years. The increasing urbanization, improving living standards, growing FDI are expected to stimulate market growth.
KEY INDUSTRY PLAYERS
"Key Players Emphasize on the Launch of New Unified Management Software to Accumulate Growth in the Market"
The key players in the market are developing new management software to cater to the unfulfilled needs of the food-service industry. The key players emphasize extensive research and development activities to introduce niche and customizable management software for end-use applications. The key players devise ingenious growth strategies such as new product launches, patents, technological developments, and others. They also adopt inorganic growth strategies such as collaborations, mergers, acquisitions, and others to generate greater revenues and strengthen their market presence.
List of Key Market Players Profiled:
- Toast
- GoFrugal Technologies
- Square
- Yelp
- Zoho
- eZee Technosys
- Flipdish
- Schedulefly
- Evergreen
- BIM POS
- SevenRooms
- Spiffy
- Lightspeed
- NCR
- TouchBistro
KEY INDUSTRY DEVELOPMENTS
February 2021: ParTech’s Restaurant Magic partnered with HoneyHornet Studios to launch its new learning management system called Datable Lab to offer a comprehensive training experience.
September 2019: Qu launched its new data-centric platform that serves as a unified solution for brand management, ordering, and production.
REPORT COVERAGE
The market is fairly competitive and comprises various key players operating globally and domestically. The global restaurant management software market report features a detailed market assessment and emphasizes several critical factors such as applications, end-users, types, and leading companies. Other than this, the report provides valuable insights into the regulatory scenarios of the market and current market trends. It also features the latest industry developments. In addition to the factors mentioned above, the report incorporates significant factors contributing to the market’s growth in recent years.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 2851.3 Million in 2022 |
Market Size Value By |
US$ 6244.17 Million by 2031 |
Growth Rate |
CAGR of 9.1% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type, Application & Region |
Frequently Asked Questions
-
What are the restaurant management software market size and growth rate of the market?
The global restaurant management software market size was USD 2851.3 million in 2022, and the market is anticipated to reach USD 6244.17 million by 2031 and exhibit a CAGR of 9.1% during the forecast period.
-
What is the market size and growth rate of the restaurant management software market for selective countries?
The restaurant management software market is anticipated to reach USD 6244.17 million by 2031 and exhibit a CAGR of 9.1% during the forecast period for overall countries.
-
Which region or sub-segment is expected to drive the restaurant management software market in the forecast period?
North America is anticipated to gain the largest share of the market, and the forestage management segment is anticipated to witness the highest growth in the restaurant management software market.
-
What factors are estimated to drive and restrain the restaurant management software market growth?
Expanding global population, hectic lifestyle schedules, and personal disposable income levels, and the rising adoption of management software by restaurants to streamline operations are anticipated to drive market growth. However, the lack of a single software that offers unified services may restrain the restaurant management software market growth.