The global restaurant point of sale terminals market size is expected to reach USD 22.32 billion by 2025 registering a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research, Inc. The primary factors boosting the market growth are increasing demand for multi-purpose point of sale (POS) terminals from restaurant owners to carry out operations, such as inventory management, employee scheduling, table management, and Customer Relationship Management (CRM).
The use of restaurant POS terminals enables restaurant owners to reduce repetitive tasks like manual inventory control, schedule management, and others, thus leading to improved efficiency in business operations. The POS system vendors are offering different solutions to support different types of restaurants, such as fine dining restaurants, nightclubs, cafes, pubs, breweries, hotels, casinos, and wineries.
The back end application segment is anticipated to witness the highest CAGR over the forecast period. Increasing product usage in restaurants to perform backend processes including accounts management, inventory management, payroll, etc. is likely to accelerate the segment growth. The Full Service Restaurant (FSR) end-user segment held the largest share of the global market in 2018 and is expected to reach USD 8.12 billion by 2025. FSR were the early adopters of any POS technology to retain their competitive advantage over the other restaurants and to meet their customer needs. POS terminals enable accurate table and order management solution and increased speed of ordering and checkout processes.
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Further key findings from the study suggest:
The global restaurant POS terminals market was valued at USD 13.15 billion in 2018 and is anticipated to record at a CAGR of 7.4% from 2019 to 2025
The hardware segment accounted for the largest market share in 2018 and is projected to reach USD 18.62 billion by 2025
The fixed product segment is anticipated to witness moderate growth over the forecast period
APAC is said to register the highest CAGR of 9.4% from 2019 to 2025. Many restaurants in APAC have started using mobile POS systems, such as tablets, to display menu and place orders for improved customer experience and operating competence
The key industry competitors include Ingenico Group; PAX Technology Ltd.; Verifone Systems Inc.; NCR Corp.; Revel Systems; Aireus Inc.; Aireus Inc; Dinerware, Inc.; Posist; EposNow; Harbortouch Payments, LLC; LimeTray; POSsible POS; Oracle Corporation; Posera, ShopKeep; Squirrel Systems; Toshiba Corp.; TouchBistro; and Upserve, Inc.
Grand View Research has segmented the global restaurant point of sale terminals market on the basis of product, component, deployment, application, end user, and region:
Restaurant POS Terminal Product Outlook (Revenue, USD Billion, 2015 - 2025)
Cash Counters Terminal
Restaurant POS Terminal Component Outlook (Revenue, USD Billion, 2015 - 2025)
Touch Screen/ Desktop
Swipe Card Machine
Restaurant POS Terminal Deployment Outlook (Revenue, USD Billion, 2014 - 2025)
Restaurant POS Terminal Application Outlook (Revenue, USD Billion, 2015 - 2025)
Restaurant POS Terminal End User Outlook (Revenue, USD Billion, 2015 - 2025)
Full Service Restaurant (FSR)
Quick Service Restaurant (QSR)
Restaurant POS Terminal Regional Outlook (Revenue, USD Billion, 2015 - 2025)
Middle East & Africa
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