Restaurant Management Software Market Size, Share & Trends Report

Restaurant Management Software Market Size, Share & Trends Analysis Report By Software (Purchasing & Inventory Management, Accounting & Cash Flow), By Deployment, By End-use, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-2-68038-376-8
  • Number of Pages: 130
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the restaurant management software market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for restaurant management software market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of restaurant management software market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Restaurant Management Software Market Categorization:

The restaurant management software market was categorized into four segments, namely software (Front-end Software, Accounting & Cash Flow, Purchasing & Inventory Management, Table & Delivery Management, Employee Payroll & Scheduling), deployment (Cloud, On-premise), end-use (Full-service Restaurant, Quick Service Restaurant, Institutional), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The restaurant management software market was segmented into software, deployment, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The restaurant management software market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into seventeen countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; China; India; Japan; Australia; Thailand; South Korea; Brazil; Mexico; UAE; Saudi Arabia.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Restaurant management software market companies & financials:

The restaurant management software market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Fiserv, Inc. - Fiserv, Inc. is a renowned global provider of technology solutions for payment and financial services. The company offers comprehensive services, including account processing, digital banking solutions, card issuer processing, network services, payment solutions, and e-commerce services. Additionally, Fiserv is the proud owner of First Data, a prominent financial service company, and the Clover brand and products. As part of its customer contracts, the company provides hardware such as point-of-sale devices and other peripherals through sales or leasing arrangements. Fiserv's acceptance segment caters to merchants of all sizes worldwide, offering a diverse array of commerce-enabling solutions. These solutions encompass mobile payment services, Clover - a cloud-based platform for point-of-sale and business management, point-of-sale merchant acquiring and digital commerce services, Carat - an omnichannel commerce ecosystem, Clover Connect - a platform for independent software vendors, and security and fraud protection products.

  • Fishbowl - Fishbowl is a provider of inventory management and automation platforms. The company provides diverse software solutions specifically designed to improve inventory control, streamline manufacturing processes, and enhance order management. By integrating with popular e-commerce and accounting platforms, Fishbowl enables smooth data synchronization and maximizes workflow efficiency.

  • Jolt - Jolt specializes in delivering operations management solutions tailored for businesses operating in the hotel, retail, and healthcare sectors. Their comprehensive product lineup includes sensors, communication managers, labeling systems, time clocks, and employee scheduling tools. With a wide range of industries served, including restaurants, retail, carwash, and hotels, Jolt's cloud-based operations management solution offers various features. These features encompass task management, staff management, and compliance management tools designed to streamline and automate business operations. By utilizing Jolt, businesses can efficiently handle staff schedules, monitor time and attendance, and assign tasks to team members. Additionally, the platform provides real-time monitoring and analytics capabilities, empowering companies to track their progress and identify areas for improvement.

  • Lightspeed - Lightspeed specializes in developing POS software solutions for various industries. The company provides a range of omnichannel retail and restaurant products to meet the diverse needs of businesses. Additionally, Lightspeed offers intuitive functionalities that assist small and medium-sized companies in effectively managing their inventory and backend operations. To streamline its operations, the company has organized its business into three main segments: Retail, Restaurant, and Golf. Within the Retail segment, Lightspeed offers solutions tailored for apparel, gifts, home décor, jewelry, liquor, electronics, and sporting goods. Similarly, under the Restaurant segment, the company offers solutions suitable for bars, cafés, full-service restaurants, quick-service restaurants, and more.

  • NCR Corporation - NCR Corporation is a leading mobile and electronic payment solutions provider for the hospitality and retail industries. With a focus on POS software applications, store and restaurant management applications, and back-office inventory management solutions, the company caters specifically to restaurant and hotel chains. In addition to software, NCR Corporation offers a wide range of hardware solutions, such as self-checkout kiosks, barcode scanners, order and payment kiosks, printers, and peripherals. These products are utilized by various businesses, including restaurants, retailers, sports venues, and entertainment and food service companies. Furthermore, NCR Corporation provides comprehensive services, including maintenance, installation, and managed services for computer hardware and third-party networking products.

  • OpenTable, Inc. - OpenTable, Inc. is a renowned online restaurant booking service that operates through various websites and mobile applications. Its global presence enables users to discover restaurants and make reservations effortlessly. The company also develops dedicated apps for both iOS and Android smartphones. OpenTable, Inc. offers a user-friendly mobile application specifically designed for finding and booking dinner reservations. In addition, they provide the Electronic Reservation Book (ERB), an innovative software and hardware solution that streamlines host-stand operations. This advanced system eliminates the need for traditional pen-and-paper reservation books, benefiting OpenTable, Inc.'s restaurant customers in the industry.

  • Oracle Corporation - Oracle Corporation is a global provider of Point-of-Sale (POS) solutions to the retail and hospitality industries. The company offers a comprehensive range of solutions to businesses, such as inventory management, reporting and analysis, loss prevention, gift and loyalty programs, and table reservations. One of their notable offerings is Simphony First Edition, a hospitality management platform service that assists in efficiently managing back-office systems and financial analysis. Oracle Corporation's cloud offerings enable clients to streamline testing and integration processes. Additionally, the company facilitates the integration of hardware, software, and services on behalf of customers in IT environments that support and manage cloud technology platforms for end users.

  • Revel Systems - Revel Systems is a provider of point-of-sale systems that are based on the iPad. They offer a highly advanced and fully cloud-native platform for POS. Their offerings include various products and solutions for POS, delivery management, open API, employee management, kitchen management, enterprise management, cash building, online ordering, self-service kiosks, and payments. Revel Systems caters to different business types with their POS solutions, including Quick-Service POS Systems, Restaurant POS Systems, Pizza POS Systems, Retail POS Systems, and Coffee Shop POS Systems.

  • Block, Inc. (Square) - Square, Inc. is a provider of mobile payment solutions based in the United States. The company specializes in designing and selling tools that assist vendors in starting, operating, and expanding their businesses. It offers various features to sellers, including the ability to accept card payments, chargeback protection, next-day settlement, and comprehensive reporting and analytics. Square, Inc. operates through four distinct segments: Transaction, Subscription & Services, Hardware, and Bitcoin. Within the hardware segment, the company provides a range of products such as Square Terminal, Square Register, Square Stand, Contactless and Chip Reader, and Magstripe readers. These hardware options can be enhanced with additional accessories like receipt printers, barcode scanners, and cash drawers, offering vendors a complete point-of-sale solution. Square, Inc. has established its presence in multiple countries, including the United States, Australia, Japan, the United Kingdom, Ireland, Spain, Norway, Lithuania, and Canada.

  • TouchBistro - TouchBistro is a restaurant point-of-sale system that operates on iPads. This innovative system allows restaurant owners to efficiently manage orders and bookings in real-time, eliminating the need to move between clients and terminals constantly. By utilizing a single-entry technique, TouchBistro minimizes errors and enhances overall efficiency. The system displays menu items in vibrant colors, ensuring every detail is captured. Additionally, TouchBistro enables restaurateurs to seamlessly update and publish their menus online, providing a more dynamic and engaging experience for customers. In addition to menu management, the software offers a range of features, including table management, reporting and analytics, tableside ordering, staff management, and inventory management. TouchBistro also offers optional services such as online ordering and reservation facilities for added convenience. Furthermore, the system can be integrated with third-party connectors to enhance features such as personnel and inventory management.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Restaurant Management Software Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Restaurant Management Software Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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