Restaurant Point-of-Sale Terminal Market Size Worth $25.95 Billion By 2028: Grand View Research, Inc.

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25 May, 2021, 08:35 GMT

SAN FRANCISCO, May 25, 2021 /PRNewswire/ -- The global restaurant point-of-sale terminal market size is expected to reach USD 25.95 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.4% from 2021 to 2028. The need to facilitate multiple payment options, inventory tracking, automated analysis, quick service, centralized recipe and menu management, and Customer Relationship Management (CRM) is boosting the demand for restaurant Point-of-Sale (POS) terminals over the forecast period. However, the COVID-19 pandemic slowed the market growth owing to closed restaurant business while only the online order system was functional. The restaurant sector is recovering in 2021 and POS vendors have taken measures to introduce new features beneficial for planning the recovery roadmap for restaurateurs.

Key suggestions from the report:

POS demand in QSRs is expected to witness modest growth exceeding a CAGR of 7.0% over the forecast period. This demand is attributed to the rise in the number of small and large QSR worldwide, a trend expected to continue amid the pandemic
The swipe card machine segment is expected to account for approximately USD 4.0 billion by 2028. The need to provide secure and quick cashless payment options to the customers is expected to contribute to the segment growth. Moreover, social distancing during the pandemic is expected to boost demand for cashless payment option using POS terminals
Asia Pacific is anticipated to expand at a CAGR exceeding 8.1% over the forecast period. Increasing usage of credit/debit cards as a payment option along with a rise in the number of quick-service restaurants is expected to favor regional demand over the next few years. The POS industry is anticipated to capitalize on the opportunities in countries including Japan, South Korea, India, and Vietnam
The key players include Ingenico Group (acquired by Worldline); PAX Technology Ltd.; Verifone Systems Inc.; NCR Corp.; EposNow; Harbortouch Payments, Aireus Inc.; Aireus Inc; Dinerware, Inc.; Posist; LLC; LimeTray; POSsible POS; Posera, ShopKeep (acquired by LightSpeed); Toshiba Corp.; Upserve, Inc.; and TouchBistro

Read 174 page research report with ToC on "Restaurant Point-of-Sale Terminal Market Size, Share & Trends Analysis Report By Component, By Product (Fixed, Mobile), By Deployment, By Application, By End User, By Region, And Segment Forecasts, 2021 - 2028'' at: https://www.grandviewresearch.com/industry-analysis/restaurant-point-of-sale-pos-terminal-market

The restaurants, bars, and food service providers rely highly on POS technology to track sales, products, operations, and inventory. Touchscreen ordering techniques are preferred to guarantee accurate customer orders. The POS technology tends to account for the largest portion of the restaurants' IT budgets and investments, as it serves as an important tool to track sales. The bigger restaurants such as fine dining restaurants, nightclubs, breweries, hotels, cafes, pubs, wineries, and casinos have high-priced menus, and customers prefer card payment in such a scenario. Thereby, the menu price and size of the restaurants act as a stimulus to augment the demand for restaurant POS terminals.

Restaurants' POS terminals for back and end and front-end operation can be deployed separately to segregate the workload and keep administrative task management at the back-end. This also helps in securing sensitive business information from staff and in control of the management to avoid a data breach. Furthermore, the rise in the number of Full-Service Restaurants (FSRs) and Quick Service Restaurants (QSRs) in major cities across the world is favoring the adoption of restaurant POS terminals. Moreover, the new demand is being generated for POS terminal as some of the largest QSR vendors such as Starbucks, Dunkin' Donuts, Pizza Hut, McDonald's, Wendy's, Subway, KFC, and Burger King are expanding their business and opening new outlets across the world. The restaurant POS terminal streamlines everyday operations for these large QSRs that need to keep their inventory loaded due to the rising number of customers consuming fast foods. Hence, the POS system deployment benefits QSRs by facilitating quick order placement and payment processing while also supporting similar services for online orders.

Grand View Research has segmented the global restaurant point-of-sale terminal market based on product, component, deployment, application, end-user, and region:

Restaurant POS Terminals Product Outlook (Revenue, USD Million, 2016 - 2028)

Fixed

Self-serve Kiosks
Cash Counters Terminal
Vending Machine

Mobile

Restaurant POS Terminals Component Outlook (Revenue, USD Million, 2016 - 2028)

Hardware

Swipe Card Machine
Touch Screen/Desktop
Others

Software

Restaurant POS Terminals Deployment Outlook (Revenue, USD Million, 2016 - 2028)

Cloud
On-Premise

Restaurant POS Terminals Application Outlook (Revenue, USD Million, 2016 - 2028)

Front-End
Back-End

Restaurant POS Terminals End-user Outlook (Revenue, USD Million, 2016 - 2028)

Full-Service Restaurant (FSR)

Fine Dine
Casual Dine

Quick Service Restaurant (QSR)
Institutional
Others

Restaurant POS Terminals Regional Outlook (Revenue, USD Million, 2016 - 2028)

North America

U.S.
Canada

Europe

U.K.
Germany
France

Asia Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa (MEA)

List of Key Players of Restaurant Point-of-Sale (POS) Terminal Market

PAX Technology Limited
Verifone Systems Inc.
NCR Corporation
Revel Systems
Aireus Inc.
Dinerware, Inc.
Posist
EposNow
LimeTray
POSsible POS
Oracle Corporation
Posera
ShopKeep (acquired by LightSpeed)
Squirrel Systems
TouchBistro
Upserve, Inc.

Find more research reports on Electronic Devices Industry, by Grand View Research:

Contactless Payment Market – The global contactless payment market size was valued at USD 1.34 trillion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 20.3% from 2021 to 2028.
Point-Of-Sale Terminals Market – The global point-of-sale terminals market size was valued at USD 75.08 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028.
Mobile POS Terminals Market – The mobile POS terminals market has gained traction over the past few years owing to increased deployments in large retail chains across a wide number of store formats and regional markets.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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