Restaurant POS Terminals Market size is expected to reach USD 35 billion by 2032, according to the recent research report by Global Market Insights Inc.
Growing adoption of restaurant POS terminals due to an increase in the use of food delivery applications by consumers will favor industry growth. Due to the introduction of numerous food-ordering applications, the demand for food delivery POS is expanding quickly globally. With the integration of these systems, restaurants can capitalize on online sales, provide a better consumer experience and enable smoother food ordering and processing. These solutions also help restaurant owners to focus more on improving their food quality.
Emerging demand for mPOS terminals across restaurants
Mobile POS terminals held over 25% share of the restaurant POS terminals market in 2022. The requirement of these terminals in the restaurant sector is giving food outlets several benefits such as increased sales, better customer experiences, improved security, and swift & accurate transactions. These systems can support the accommodation of rising transaction volumes, simplify migration to EMV and enable the ability to accept payments from mobile wallets. Such advantages make it possible for small restaurants to execute tasks carried out by fixed terminals at a very low cost.
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Market players working on innovative POS hardware solutions
The industry size from the hardware component segment is anticipated to witness 5% CAGR between 2023 and 2032. POS terminals function well during peak dining hours and are in higher demand in restaurants. They help businesses to save time and energy while undertaking day-to-day operations. To offer more advanced features, POS manufacturers are focusing on developing cutting-edge hardware components. These developments will positively influence the business growth by 2032.
POS terminals to allow efficient customer management at full-service restaurants
The restaurant POS terminals market revenue from the FSR application is poised to surpass USD 5 billion by 2032. POS solutions are used at such restaurants to help ease operations, speed up orders, shorten customer wait times, and provide employees with a user-friendly tool. Restaurants can manage menus, keep track of the most popular meals, and adjust prices to enhance efficiency with the help of these systems.
Browse key industry insights spread across 300 pages with 469 market data tables and 31 figures & charts from the report, “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), COVID-19 Impact Analysis, Regional Outlook, Price Trend Analysis, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:
High adoption of advanced technological solutions in North America
North America restaurant POS terminals market was valued at USD 3 billion in 2022. The region holds the presence of some of the key industry players in countries like the U.S and Canada. This is supporting restaurant businesses to incorporate cutting-edge POS solutions. These companies are focusing on the development of advanced POS terminals for restaurants. Expansion in restaurant chains at airports, shopping centers, motorways, and bus stops may drive commendable application scope for restaurant POS terminals in the region.
Introduction of advanced POS terminal to shape sector growth
Diebold Nixdorf Incorporated, Samsung Electronics Co. Ltd., Harbortouch, PAR Technology Corporation, Hewlett Packard Company, PAX Technology, Ingenico Group, Lavu, Lightspeed POS Inc., NCR Corporation, and Panasonic Corporation are some of the leading participants in the restaurant POS terminals market. To meet the evolving needs of the restaurant sector, companies are innovating new product offerings. For instance, in 2022, Toast Inc., one of the leading participants, introduced a new system that allows quick-service restaurants to run their operations using point-of-sale (POS), digital ordering, and team management. This will enable restaurants to increase revenues, streamline operations and deliver top-notch customer service.