Restaurant Management Software Market to Witness 16% Growth (2022-2028) | Due to Increasing Acceptance Of New Restaurant Service Technologies And Demand For Quick Service Restaurant Services | UnivDatos Market Insights

NOIDA, India, Nov. 21, 2022 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the Restaurant Management Software Market is expected to be Valued at 15 Bn in 2028 with a CAGR of around 16% from 2022-2028. The analysis has been segmented into Software (Front-End Software, Accounting & Cash Flow, Purchasing & Inventory Management, Table & Delivery Management, Employee Payroll & Scheduling, Others); Deployment (Cloud, On-Premise); End User (Full-Service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional, Others); Region/Country.

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The restaurant management software market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Restaurant Management Software market. The Restaurant Management Software market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Restaurant Management Software market at the global and regional levels.

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Market Overview

Restaurant management software is designed to be an end-to-end software solution to help users run their restaurants. In addition, the increasing acceptance of new restaurant service technologies and demand for quick service restaurant services are driving the growth of the global restaurant management software market.

The Restaurant Management Software Market is expected to grow at a steady rate of around 16% owing to the increasing revolution in restaurant technology is estimated to drive the market. Moreover, the growing use of technology to manage operations in the restaurant sector is driving the global restaurant management software market. More than two-thirds of restaurant proprietors were found to be adopting point of sales (POS) systems in a recent survey. Additionally, it was discovered that 90% of these businesses used restaurant management software to keep track of their inventory. These days, coffee shops and bars automate their procedures using the same technologies.

Some of the major players operating in the market include Clover Network, LLC, Personica (Fishbowl Inc.), HotSchedules (Fourth Enterprises LLC.), Jolt, NCR Corporation, OpenTable, Inc., Oracle Corporation, Revel Systems, Square Capital, LLC, TouchBistro.

COVID-19 Impact

The food and beverage industry were shaken by the onset of COVID-19. Since there were temporary closures and fewer dine-in guests because of the COVID-19 pandemic, the restaurant industry suffered. However, restaurants have survived the pandemic because of the use of Point of Sale (POS) technology, which offer contactless payment options. Because of the pandemic, a lot of eateries and packaged food businesses have switched to using online sales channels to meet customer demand. However, some norms have changed, like the heavy use of food delivery apps, the current popularity of contactless methods, and the use of restaurant management software.

The global restaurant management software market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

• Based on software, the market is segmented into front-end software, accounting & cash flow, purchasing & inventory management, table & delivery management, employee payroll & scheduling, and others. Front-end software category to witness significant CAGR during the forecast period. This is mainly due to the growing adoption of POS software for uses such as meal ordering, billing, payment processing, customer engagement, sales tracking, and reporting on order management.
• Based on end user, the restaurant management software market has been classified into full-service restaurant (FSR), quick-service restaurants (QSR), institutional, and others. The full-service restaurant (FSR) category is to witness higher adoption of restaurant management software during the forecast period. Among these, the full-service restaurant (FSR) to hold a significant share in the market in 2020. In addition, FSRs have advanced technologies to improve table turn times and reduce labor costs, by which they can offer better customer service according to the demand of the customers.

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Restaurant Management Software Market Geographical Segmentation Includes:

• North America (United States, Canada, and Rest of North America)
• Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
• Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
• Rest of the World

North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the digitalization and advances in smart technology, such as automated point-of-sale systems, wireless payment methods, and virtual reservation systems in the sub-continent, which are to be blamed for the market expansion in the region throughout the projection period. Further, Restaurant management software is used by food service providers in the area for a variety of tasks, including managing menus, and tables, scheduling employees, managing kitchens, managing recipes, etc. As per QSR automation, around 72% of Americans dine at quick-service restaurants for lunch.

The major players targeting the market include

• Clover Network, LLC
• Personica (Fishbowl Inc.)
• HotSchedules (Fourth Enterprises LLC.)
• Jolt
• NCR Corporation
• OpenTable, Inc.
• Oracle Corporation
• Revel Systems
• Square Capital LLC
• TouchBistro

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the restaurant management software market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the restaurant management software market?
• Which factors are influencing the restaurant management software market over the forecast period?
• What are the global challenges, threats, and risks in the restaurant management software market?
• Which factors are propelling and restraining the restaurant management software market?
• What are the demanding global regions of the restaurant management software market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Restaurant Management System Market Report Coverage

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UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

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