Global Restaurant POS Terminals Market Size By Type, By Application, By End User, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Restaurant POS Terminals Market size was valued at USD 16.07 Billion in 2024 and is projected to reach USD 24.11 Billion by 2031, growing at a CAGR of 5.20% during the forecast period 2024-2031.
Global Restaurant POS Terminals Market Drivers
The market drivers for the Restaurant POS Terminals Market can be influenced by various factors. These may include
Technological Progress Cloud-Based SolutionsThe adoption of cloud-based point-of-sale (POS) systems provides increased cost-effectiveness, scalability, and flexibility. The ability to access and control data in real-time makes these systems appealing to restaurant operators.
Integration Capabilities By integrating with a range of different systems, including online ordering platforms, CRM software, and inventory management, modern POS terminals may offer a cohesive solution that boosts productivity all around.
Modifying The Attitude Of Consumers Preference for Digital PaymentsThe need for advanced point-of-sale (POS) terminals that enable a variety of payment choices, such as mobile wallets and NFC, is being driven by consumers’ growing preference for digital and contactless payment methods, especially after COVID-19.
Online Ordering And Delivery POS systems that can easily handle online transactions, track orders, and manage deliveries are essential given the rise in popularity of online meal ordering and delivery services.
Streamlining Operations And Cutting Costs Inventory and Staff ManagementAdvanced feature-rich POS terminals facilitate effective inventory tracking by cutting down on waste and guaranteeing stock availability. They also provide payroll and scheduling related to personnel management. Personalized promotions, quicker transaction processing, and loyalty programs are just a few of the features that modern point-of-sale (POS) systems offer to enhance the consumer experience and increase customer retention.
Data Security And Compliance With Regulations Payment Card Industry Data Security Standard (PCI DSS)In order to guarantee the security of card transactions, restaurants must comply with PCI DSS. To prevent data breaches and fines, POS terminals that adhere to certain criteria are recommended.
Tax Compliance Restaurants can lower their risk of fines and legal problems by adhering to local tax legislation with the aid of POS systems that provide proper tax calculations and reporting.
Differentiation And Competition In The Market Competitive AdvantageTo obtain a competitive edge by enhancing service accuracy, speed, and customer satisfaction, restaurants are progressively implementing cutting-edge point-of-sale (POS) systems.
Novelty In Features The market is being driven by ongoing innovation in point-of-sale (POS) features, such as AI-driven analytics, customer feedback gathering, and mobile POS units, as restaurants strive to set themselves apart from rivals.
Cost-Effectiveness And Available Financing Cost-Effective SolutionsIt is now simpler for small and medium-sized restaurants to invest in cutting-edge POS systems thanks to the availability of reasonably priced and cost-effective POS solutions, as well as flexible financing options and subscription models. ROI, or return on investment, Modern point-of-sale terminals are being used by restaurants due to the potential for large return on investment through greater operational efficiency and improved customer experience.
Global Restaurant POS Terminals Market Restraints
Several factors can act as restraints or challenges for the Restaurant POS Terminals Market. These may include
Exorbitant Starting Costs It might be costly to implement a POS system, especially for independent and small eateries. Hardware, software, installation, and continuing maintenance are all included in the price.
Intricate Coordination It can be difficult and time-consuming to integrate new point-of-sale systems with other technologies and current restaurant management software. There may be compatibility problems, which makes achieving a flawless operation challenging.
Data Security Issues Given that they handle sensitive consumer data, such as credit card numbers, restaurants need to make sure their point-of-sale (POS) systems are safe. Reputational harm and large financial losses are two possible outcomes of data breaches.
Dependency On Technology Dependence on technology has pros and cons. System malfunctions, breakdowns, or technical issues can cause operational disruptions in restaurants and have a detrimental effect on customer service.
Instruction And Adjustment New POS system use requires employee training, which can be time- and resource-consuming. Effective implementation may also be hampered by employee resistance to change.
Quick Shifts In Technology Systems could easily go out of date due to the POS industry’s rapid technical improvements. This calls for expensive upgrades or replacements on a regular basis.
Financial Elements Economic downturns can have an impact on the need for new or improved point-of-sale (POS) systems by lowering disposable income and dinner frequency. In hard times, restaurants might put cost-cutting ahead of technology expenditures.
Saturation Of The Market The POS terminals industry may be getting close to saturation in mature markets, which would mean more competition among suppliers and fewer room for expansion.
Regulatory Obstacles For POS system providers and restaurants with several locations, compliance with local norms and legislation regarding data privacy and payment processing can differ per region.
Requirements For Customization Different restaurant kinds—quick service vs fine dining, for example—have different needs when it comes to POS systems. Certain POS systems may not be as scalable as others due to the requirement for bespoke solutions, which also raises development expenses.
Global Restaurant POS Terminals Market Segmentation Analysis
The Global Restaurant POS Terminals Market is Segmented on the basis of Type, Application, End User, And Geography.
Restaurant POS Terminals Market, By Type
Fixed POS Terminals These are traditional POS systems with dedicated hardware and software installed on-site.
Mobile POS Terminals These are portable POS systems, often using tablets or smartphones, offering greater flexibility and mobility.
Restaurant POS Terminals Market, By Application
Front End This includes functionalities like order taking, menu management, and customer interaction.
Back End This includes functionalities like inventory management, employee management, and reporting.
Restaurant POS Terminals Market, By End User
Full-Service Restaurants (FSR)Â These are restaurants offering a sit-down dining experience with table service.
Quick Service Restaurants (QSR)Â These are fast-casual restaurants with limited table service and a focus on speed and convenience.
Institutional Full-Service Restaurants These are restaurants within institutions like hospitals, schools, and universities.
Restaurant POS Terminals Market, By Geography
North America Market conditions and demand in the United States, Canada, and Mexico.
Europe Analysis of the Restaurant POS Terminals Market in European countries.
Asia-Pacific Focusing on countries like China, India, Japan, South Korea, and others.
Middle East And Africa Examining market dynamics in the Middle East and African regions.
Latin America Covering market trends and developments in countries across Latin America.
Key Players
The major players in the Restaurant POS Terminals Market are
Diebold Nixdorf
Ingenico Group
Micros Systems, Inc.
NEC Corporation
NCR Corporation
PAR Technology Corporation
Panasonic Corporation
Samsung Electronics Co., Ltd.
PAX Technology
Square, Inc.
Toast, Inc.
TouchBistro, Inc.
VeriFone Systems, Inc.
Toshiba Corporation
among
Squirrel Systems Inc.
Cake Corporation
Clover Network Inc.
Harbortouch
Lightspeed POS Inc.
Revel Systems
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
Diebold Nixdorf, Ingenico Group, Micros Systems Inc., NEC Corporation, NCR Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., PAX Technology, Square Inc., TouchBistro Inc.
SEGMENTS COVERED
By Type, By Application, By End User, And By Geography
CUSTOMIZATION SCOPE
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
We'll dig into the market, looking at it from all angles – both the money side and the softer stuff. You'll get the scoop on market values (in USD Billion!) for every niche and sub-niche. We'll also point out which region and segment are poised for explosive growth and dominance. Think of it as a geographical breakdown of who's using the product/service, why they're using it, and what's influencing their choices. Plus, we'll size up the competition, ranking the big players and highlighting their latest moves (new stuff, partnerships, expansions, and acquisitions) over the last five years. You'll get detailed company profiles, too – think overview, insights, product comparisons, and SWOT analysis for the key players. We'll also give you our take on where the market's headed, considering recent happenings, growth potential, the good, the bad, and the challenges facing both up-and-coming and established regions. And to really get under the hood, we'll use Porter's five forces to analyze the market and break down the Value Chain to give you a peek behind the curtain. We'll spell out market dynamics and point you towards growth opportunities in the years ahead. As a bonus, you'll get 6 months of analyst support after you buy!
Customization of the Report
• In case of any please connect with our sales team, who will ensure that your requirements are met.
For a single, multi and corporate client license, the report will be available in PDF format.
Sample report would be given you in excel format. For more questions please contact:
