Catering Software Market to Grow at a CAGR of 14.4% to reach US$ 519.14 Million from 2020 to 2027

The catering software market expected to grow from US$ 201.93 million in 2020 to US$ 519.14 million by 2027; it is estimated to grow at a CAGR of 14.4% from 2020 to 2027.

Big data analytics technology to improve catering operations is attributing to the growth of the market. The Big Data analytics technology has enormous potential to completely transform the catering business. The adoption of Big Data solutions helps improve the efficiency of distribution and production networks in the overall catering industry. The technology allows tracking the entire process of the transportation of supplies. With real-time insights, customers can track their purchase orders on their devices and check the catering status. The integration of an analytics dashboard in catering software helps track and evaluate the performance of catering agents. Also, every stakeholder in the catering business must have relevant data on their products, including data related to farmers, shippers, and retailers, ending with restaurants and shops. For instance, KFC restaurant uses Big Data tools to analyze feedback from customers and food preferences, leading to better customer experiences, sales, and profit.

The e-commerce industry across all the regions has witnessed numerous transformations from the past few years; the industry's growth has prompted catering software market players to leverage Big Data analytics to make smarter business decisions. The technology allows online retailers to evaluate customer interactions across the channels such as mobile devices, social media, and websites.

Impact of COVID-19 Pandemic on Catering Software Market

Following the global outbreak of the COVID-19 pandemic, some businesses have been forced to scale back their operations due to various containment measures issued by governments around the world. The virus's rapid spread has prompted governments around the world to place stringent restrictions on the movement of people and vehicles. Businesses that rely on physical interaction to generate revenue have been severely harmed by the lockdowns. As a result, some businesses are concentrating on increasing conversions, interactions, and revenue through digital media.

Lucrative Regions in Catering Software Market

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Market Insights–Catering Software Market

Machine Learning to Revolutionize Catering Business

In the catering industry, the inadequacy of area mapping, and imbalance between demand and resource availability lead to several challenges. Machine learning and Artificial Intelligence (AI) are the foundations of the next-generation catering technologies. These technologies enable systems to learn from recorded data, which comprise algorithms, patterns, and predictive insights. Several online food delivery companies are adopting the machine learning technology to enhance their catering business and increase their businesses' efficiency. For instance, Deliveroo, a UK-based food delivery company, invests in advanced technologies such as machine learning to stay competitive in the market by offering more effective food delivery service. Glovo, a Spain-based food delivery company, also uses machine learning to forecast the probability of remaining active on the app. Thus, the integration of machine learning in catering businesses is projected to boost the demand for catering software during the forecast period.

Deployment -Based Insights

Based on deployment type, the catering software market is segmented into cloud and on-premises. The cloud segment held the largest market share in 2019.

Strategic Insights

Players operating in the catering software market are mainly focused on the development of advanced and efficient products.

• In 2020, CaterZen invested programming hours since the beginning of March to confirm restaurants and caterers can continue operations by strong focusing on online ordering and food delivery.
• In 2020, Flex Catering Introduced catering KDS (Kitchen Display System) which is a type of a digital screen that replaces printed or handwritten ticket orders in restaurants and food businesses.

The catering software market has been segmented as follows:

Global Catering Software - By Deployment 

• Cloud
• On-Premises

Global Catering Software - By End User

• Caterers
• Restaurants & Hotels
• Others

Global Catering Software Market – by Geography

• North America

  • US
  • Canada
  • Mexico

• Europe

  • France
  • Germany
  • Italy
  • Russia
  • U.K
  • Rest of Europe

• Asia Pacific (APAC)

  • Japan
  • China
  • Australia
  • India
  • South Korea
  • Rest of APAC

• Middle East and Africa (MEA)

  • Saudi Arabia
  • UAE
  • South Africa
  • Rest of MEA

• South America (SAM)

  • Brazil
  • Argentina
  • Rest of SAM

Catering Software Market – Company Profiles

• Aptus Systems Ltd.
• Better Cater, Inc
• Caterease Software
• CaterTrax, Inc.
• CaterZen by Restaurant & Catering Systems
• Flex Catering
• FoodStorm Catering Software (CaterXpress)
• Planning Pod (My Wedding Workbook, LLC)
• Profit Systems Inc.
• Pxier