Restaurant Point-of-Sale Terminals Market Size and Growth by 2031

Coverage: Restaurant Point-of-Sale Terminals Market covers analysis by Component (Hardware, Software, Service), Type (Fixed Point of Sale Terminals, Mobile/Portable Point of Sale Terminals); and Geography

  • Report Code : TIPRE00010672
  • Category : Banking, Financial Services, and Insurance
  • No. of Pages : 150
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The Restaurant Point-of-Sale Terminals market size is anticipated to expand at a CAGR of 9.1% from 2023 to 2031. A restaurant POS system is the software and technology that restaurant owners use to run their whole business, from taking orders to managing the floor plan, reservations, sales reports, inventory counts, staff scheduling, and menu pricing. A restaurant's point of sale system is usually a complete restaurant management system. The majority of the best restaurant POS systems on the market are cloud-based, which means that the data they hold (such as sales data, menu prices, inventory levels, reservations, and so on) is stored on a secure internet server.

Restaurant Point-of-Sale Terminals Market Analysis

The restaurant point-of-sale terminals market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. A wide range of POS system suppliers offer various devices and capabilities at varying price points. Some are suited to tiny cafes, pubs, or food trucks, while others may handle full-service restaurants. Restaurant POS solutions might be cloud-based or hybrid, depending on your business requirements.  Restaurant Point of Sale (POS) systems are transforming the way restaurants run by transferring data from the back of the house to the servers, cashiers, and greeters in the front. They allow the owner to accept payments from anywhere in your restaurant, including the front, the exit, and even online.

Restaurant Point-of-Sale Terminals Overview

  • One of the primary advantages of restaurant POS systems is their adaptability. Restaurant employees can use a smartphone with access to POS software to print meal orders for kitchen staff, create bills for clients, and process credit cards, debit cards, mobile wallets, and cash payments.
  • At the same time, the POS system can facilitate communication between different areas of the restaurant. For example, each order can provide real-time data to automatically manage inventory levels. In many circumstances, POS systems can also manage restaurant bookings.
  • Self-ordering has become one of the most popular restaurant trends in recent years, and restaurant POS systems can help make it easier. Using these tools, it is possible to set up a process in which customers place their orders, reducing wait times and preventing instances where personnel get their orders wrong.
  • In September 2023, GoTab, a point-of-sale supplier, introduced Self-Ordering Kiosks geared for high-volume venues with limited staff, as well as its new Pocket POS, a handheld device specifically designed for fast-paced locations that offer table service.

Restaurant Point-of-Sale Terminals Market Driver

Mobile POS Solutions to Drive Restaurant Point-of-Sale Terminals Market

  • Mobile POS systems are intended to run on cell phones or other portable devices like tablets and iPads.
  • When mobile POS systems are used, employees have more flexibility, and customers have more payment options. It can also help restaurants speed up operations, lowering customer wait times and even allowing them to seat more people each day. Setup is often quick and simple, but precautions must be taken to ensure mobile POS system security and consumer trust.
  • A mobile POS system eliminates the need for handwritten orders and the risk of miscommunication between waitstaff and the kitchen. With a mobile device, your employees can enter orders straight into the system, ensuring accuracy and reducing errors. Orders are quickly transmitted to the kitchen, minimizing wait times and increasing restaurant efficiency. This results in faster table turnover, greater client happiness, and, eventually, higher income.

Restaurant Point-of-Sale Terminals Market Report Segmentation Analysis

  • Based on the type, the Restaurant Point-of-Sale Terminals market report is segmented into fixed point-of-sale terminals and mobile/portable point-of-sale terminals. The mobile/portable point-of-sale terminals segment is expected to hold a significant Restaurant Point-of-Sale Terminals market share in 2023.
  • Restaurant owners no longer have to rely on a countertop POS in a physical location, thanks to mobile point-of-sale (POS) systems. One can process sales using a POS app on any mobile device, including a smartphone or tablet.

Restaurant Point-of-Sale Terminals Market Analysis by Geography

The scope of the Restaurant Point-of-Sale Terminals market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant Restaurant Point-of-Sale Terminals market share. The region's significant technological development and booming IT industry have contributed to this growth. North America is home to many developing countries like the US and Canada, driving Restaurant Point-of-Sale Terminals market growth.

Restaurant Point-of-Sale Terminals Market Report Scope

The "Restaurant Point-of-Sale Terminals market Analysis" was carried out based on core investment strategies and geography. In terms of component, the market is segmented into hardware, software, and service. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Restaurant Point-of-Sale Terminals Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the Restaurant Point-of-Sale Terminals market. A few recent key market developments are listed below:

  • In May 2022, Square launched Square for Restaurants mobile POS, which gives servers the power of Square for Restaurants, an all-in-one restaurant POS, in their apron pocket - enabling them to quickly and seamlessly take orders and payments tableside or in line. Restaurants using the Square for Restaurants mobile POS beta program have been able to turn more tables and grow their sales even when they were short on staff.

[Source: Square, Company Website]

Restaurant Point-of-Sale Terminals Market Report Coverage & Deliverables

The market report "Restaurant Point-of-Sale Terminals Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

  • Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
  • Market dynamics such as drivers, restraints, and key opportunities.
  • Key future trends.
  • Detailed PEST & SWOT analysis
  • Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
  • Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
  • Detailed company profiles.
REGIONAL FRAMEWORK

Restaurant Point-of-Sale Terminals Market Report Analysis

Restaurant Point-of-Sale Terminals Market

  • CAGR (2023 - 2031)
    XX%
  • Market Size 2023
    US$ XX Million
  • Market Size 2031
    US$ XX Million

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • Action Systems, Inc.
  • Aireus Inc.
  • Dinerware, Inc.
  • EposNow
  • Harbortouch Payments, LLC
  • Ingenico Group
  • LimeTray
  • NCR Corporation
  • Oracle Corporation

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Product
  • Fixed
  • Mobile
By Component
  • Hardware
  • Software
By Deployment
  • Cloud
  • On-Premise
By Application
  • Front-End
  • Back-End
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

Restaurant Point-of-Sale Terminals Market Report Scope

Report Attribute Details
Market size in 2023 US$ XX Million
Market Size by 2031 US$ XX Million
Global CAGR (2023 - 2031) XX%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Product
  • Fixed
  • Mobile
By Component
  • Hardware
  • Software
By Deployment
  • Cloud
  • On-Premise
By Application
  • Front-End
  • Back-End
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Action Systems, Inc.
  • Aireus Inc.
  • Dinerware, Inc.
  • EposNow
  • Harbortouch Payments, LLC
  • Ingenico Group
  • LimeTray
  • NCR Corporation
  • Oracle Corporation
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    This text is related
    to segments covered.

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    This text is related
    to country scope.

    Frequently Asked Questions


    What is the estimated growth rate for the global Restaurant Point-of-Sale Terminals market in 2023?

    The global Restaurant Point-of-Sale Terminals market is expected to grow at a CAGR of 9.1% during the forecast period 2023 - 2031.

    What are the driving factors impacting the global Restaurant Point-of-Sale Terminals market?

    Digitalization in the hospitality sector and Mobile POS solutions are the major factors that propel the global Restaurant Point-of-Sale Terminals market growth.

    What are the future trends of the global Restaurant Point-of-Sale Terminals market?

    Contactless payments and digital payment growth are anticipated to bring new Restaurant Point-of-Sale Terminals market trends in the coming years.

    Which are the key players holding the major market share of the global Restaurant Point-of-Sale Terminals market?

    The key players holding majority shares in the global Restaurant Point-of-Sale Terminals market are Lightspeed, Shopify, Square, Revel Systems, Clover, and Epos Now.

    Which component segment held the major share in 2023?

    In terms of revenue, the hardware segment held the major market share in 2023.

    The List of Companies

    1. Action Systems, Inc.
    2. Aireus Inc.
    3. Dinerware, Inc.
    4. EposNow
    5. Harbortouch Payments, LLC
    6. Ingenico Group
    7. LimeTray
    8. NCR Corporation
    9. Oracle Corporation
    10. PAX Technology Limited

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

    Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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