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

 

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

MARKET PLAYERS

Restaurant Point-of-Sale Terminals Market Report Scope

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