Restaurant POS Terminals Market Size By Product (Fixed POS Terminals, Mobile POS Terminals), By Component (Hardware, Software, Services) By Application (FSR [Fine dine, Casual Dine/Fast Casual], QSR, Bars & Pubs, Cafes & Bistros), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Jan 2019  |  Report ID: GMI3073  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 293   |   Base Year: 2017

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Restaurant POS Terminals Market size surpassed USD 10 billion in 2017 and is poised to grow at a CAGR of over 13% between 2018 and 2024. The global industry shipments are expected to reach 20 million units by 2024.

The market is witnessing a high growth due to increased adoption of such payment solutions in several application segments including FSR, QSR, etc. With a rise in the establishment of food outlets to serve different types of food items to customers, the demand for such advanced solutions will grow rapidly. FSRs are offering multicuisine dishes owing to presence of customers from different regions or countries, who have different tastes and interest in food items. Such factors are driving the establishment of numbers of restaurants.

Industry players are targeting restaurants with a large customer base and where the requirement for effective sales & inventory management solutions are required. The companies provide solutions that are customizable based on the business operations of restaurants. It allows food outlets to manage their sales, payments, and stocks with the help of a single solution, thereby reducing the additional cost of installing multiple systems.

Restaurant POS Terminals Market

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The complex sales tasks and customer engagement operations are forcing food outlets to adopt modern solutions in their facilities, influencing the restaurant POS terminals market growth. EMV-enabled devices are witnessing a high adoption in the market on account of increased payment flexibility with the application of contactless chip cards. Such devices are being widely adopted in FSRs due to high budget range of these outlets. These technological solutions are expected to drive the adoption of secured and advanced payment options in the restaurant industry.

Restaurant POS Terminals Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 10 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 13% 2024 Value Projection: 25 Billion (USD)
Pages: 293 Tables, Charts & Figures: 380
Geographies covered (13): U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil
Segments covered: Product, Component, Application and Region
Companies covered (23): CAKE from Sysco, Clover Network, Inc., Diebold Nixdorf, Incorporated, Harbortouch, Hewlett-Packard Company, Ingenico Group, Lavu, Lightspeed POS Inc., Micros Systems, Inc., NCR Corporation, NEC Corporation, Panasonic Corporation, PAR Technology Corporation, PAX Technology, Revel Systems, Inc., Samsung Electronics Co. Ltd., Square, Inc., Squirrel Systems, Toast, Inc., Toshiba Corporation, TouchBistro Inc., Upserve, Inc., VeriFone Systems Inc.
Growth Drivers:
  • Increasing number of QSR in the U.S.
  • Rise in adoption of the mobile solutions for tableside payment and ordering facility
  • Growing demand for the food delivery services in Asia Pacific
  • Rising demand for the POS systems in restaurants for inventory or stock management
Pitfalls & Challenges:
  • Data security concerns
  • High cost of software upgrades

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Market by Product

The mPOS terminal segment in the market is anticipated to grow exponentially till 2024 as growing adoption of mobile technologies is providing several advantages to food outlets including increased sales, customer experience improvements, improved security, efficient & accurate transactions, accommodation of the growing transaction volumes, less expensive, easy migration to EMV, and accepting mobile wallet payments. These benefits allow small restaurants to get all the functions that were performed in fixed terminals done at a very affordable cost.

Furthermore, increased mobility of these devices allows these food outlets to provide payment options to customers at their doorsteps with the use of cards or mobile wallets, thereby accelerating the adoption of these solutions in food delivery applications.

Market by Component

Software components will register significant gains in the restaurant POS terminals market from 2018 to 2024 propelled by increased requirement of such solutions for enhancing the hardware compatibility and accessibility of different components integrated into the system. The system includes several hardware components that need to be managed and operated with programming commands. The software solutions offer the user a platform to operate these components whenever it is required.

Moreover, these software solutions allow the user to perform several other business functions that simplify the tasks such as sales or stock reporting, order & customer management, staff engagement, and payment statistics. The manufacturers are engaged in developing such advanced software solutions that perform multiple business tasks with the incorporation of a single POS system.

Market by Application

U.S. (FSR) full service restaurant POS terminals industry by application

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The restaurant POS terminals is experiencing a high adoption in QSR driven by demand for effective payment technologies that will allow the customers to make a hassle-free payment of their bills even at the time of cash unavailability. QSR includes several fast food outlets such as Mc Donald’s and Pizza Hut, which require payment systems that can perform the sales tasks at a faster rate to reduce the customer crowd at the counter.

In addition, these food outlets are witnessing an increased adoption of integrated fixed terminals that can perform multiple business tasks with maximum accuracy and speed. These application areas offer self-service options to the customers, where the customer needs to make orders and pay their bills at the counter, thereby driving the demand for fixed solutions.

Market by Region

Asia Pacific restaurant POS terminals market

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Asia Pacific is the fastest growing region in the restaurant POS terminals market owing to increasing number of QSRs. This increasing number of restaurant outlets in the populated countries across the region is encouraging global manufacturers to expand their business presence and offer their diversified solutions.

Moreover, increasing government regulations regarding the promotion and adoption of cashless technologies also provide an impetus to Indian market growth. Digital India initiative by the government of India encouraged several restaurant outlets to incorporate POS solutions to offer cashless mode of payment options to their customers. Increasing awareness among people to adopt digital payment techniques such as debit/credit card payment and mobile wallets is accelerating the adoption of such advanced solutions.

Competitive Market Share

Key players operating in the 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., and Toshiba Corporation, among others.

The manufacturers are developing advanced hardware and software solutions that are developed based on the specific requirement of the restaurant industry. Moreover, they are also offering solutions that include several functions or features to support the specific business domain such as Pizza POS, Coffee Shop POS, etc.

These companies are engaged in offering mobile technology as they witness high adoption across small restaurants. The manufacturers are focused on offering modern solutions by incorporating several innovative technologies such as EMV, biometric verification, contactless feature, and wireless technology.

The restaurant POS terminals market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in Units from 2013 to 2024, for the following segments:

By Product

  • Fixed POS terminals
  • Mobile POS terminals

By Component

  • Hardware
  • Software
  • Services

By Application

  • FSR
    • Fine dine
    • Casual dine/Fast casual
  • QSR
  • Bars & pubs
  • Cafes & bistros
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • MEA

Frequently Asked Questions (FAQ) :

The market size of restaurant pos terminals surpassed USD 10 Billion in 2017.
The industry share of restaurant pos terminals is poised to grow at a CAGR of over 13% between 2018 and 2024..
According to this forecast report by GMI, the global industry shipments are expected to reach 20 million units by 2024.
Quick Service Restaurants (QSR) are highly seeking restaurant POS terminals on account of an increase in demand for hassle-free payment of bills at the time of unavailability of cash.
The mounting adoption of mobile technologies helps improve customer experience, security, accommodating the growing number transactions, and facilitates easy migration to EMV.
Increasing need to enhance the hardware accessibility and compatibility of different type of components incorporated in the systems has made POS software solution a critical component.

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Premium Report Details

  • Published Date: Jan 2019
  • Pages: 293
  • Tables: 349
  • Charts / Figures: 31
  • Companies covered: 23
  • Countries covered: 13

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