Global Quick Service Restaurant (QSR) IT Market Showcases Promising Growth during Forecast 2017-2025

In order to study the various trends and patterns prevailing in the overall market Quick Service Restaurant (QSR) IT, Market Research Reports Search Engine (MRRSE) has included a new report titled “Quick Service Restaurant (QSR) IT Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.

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Global quick service restaurants (QSR) IT market showcases the presence of several players thereby making the vendor landscape highly fragmented and competitive. Key players within the QSR IT market include Abcom Pty Ltd, CAKE Corporation, Cognizant, Delphi Display Systems Inc., GoFrugal Technologies Pvt. Ltd., HM Electronics Inc., Imagine Print Solutions, LG Display Co. Ltd., Microsoft Corporation, NCR Corporation, NEC Display Solutions of America Inc., Oracle Corporation, Panasonic Corporation, PAR Technology Corporation, Restaurant Service Solutions, Revel Systems Inc., and Verifone Systems Inc. among others.

Leading players within the market are focusing on providing cost competitive and customized product offerings to customers. As part of the growth strategy, players are taking the inorganic growth route which will help bolster their position. This includes engaging in various strategic partnerships, acquisitions along with efforts for new service additions and geographical expansion.

As per the estimates of a TMR report, the global quick service restaurants IT market will clock a CAGR of 7.6% during the forecast period from 2017 to 2025, for the market to become worth US$18,664.0 mn by the end of 2025.

Based on component, the software segment held a significant 24.5% of the overall QSR IT market in 2016. Going forward, the software segment is likely to clock a 10.5% CAGR during the forecast period due to newer trend of automation which is primarily served through QSR software.

Geographically, North America is currently the leading market for QSR IT as the region has a large number of quick service restaurants, of which several are spending substantially on in-house IT to better serve their customers. Asia Pacific is also anticipated to emerge as a lucrative market for QSR IT in the upcoming years.

Heavy Reliance on Technology for Efficient and Effective Everyday Operations Boosts Adoption of QSR IT

Majorly fuelling the growth of global QSR IT market is the increasing demand for user-friendly, easy to comprehend, and efficient solutions that customers expect from fast food joints. Today, QSR are innovating and adopting solutions such as digital signage, digital menu cards, point of sales solutions, handheld devices, and kiosks. Of all QSR IT solutions, signage systems and digital point of sales systems are the most adopted as they help serve customers in an efficient manner and also help in brand building.

At present, rising number of quick service restaurants that are giving tough competition to each other has necessitated them to devise new ways to make their business effective and efficient. QSRs are exploring various areas such as customer relationship management, supply chain management, and are increasing their reliance on technology to increase revenue generation as well as to optimize resources.

Increasing Use of Mobile Payment Solutions Necessitates Robust IT Infrastructure for QSRs

Additionally, the rising adoption of mobile payment solutions requires quick service restaurants to be equipped with an up to date and effective IT infrastructure. At present QSR IT is undergoing transformation due to incessant adoption of mobile devices, and rapidly changing consumer behavior. To cater to this, digital solutions are increasingly becoming common in a QSR ecosystem owing to their advantages of enhanced productivity, greater table turnaround, efficient customer check out, and improved accuracy.

The report segments the market on the basis of component and region. On the basis of component the QSR IT market is segmented as hardware, software and service. In terms of hardware the QSR IT market is segmented as Digital Signage, Kiosks, Drive Thru Terminals, Point of Sales, Handheld Devices, Digital Menu Cards. The software segment is further classified into Front of House, Inventory Management, Reconcillation, Labor Management, HR Software, Data Analytics, Marketing, Restaurant Operation, Support Operation and Franchise Management. The global QSR IT market is segmented on the basis of region into North America, Europe, Asia-Pacific, Middle East & Africa and South America. North America is expected to hold the largest market share in the global QSR IT market.

Quick Service Restaurant IT Market: Competitive Landscape

The report also highlights the competitive landscape of the global QSR IT market. Abcom Pty Ltd., CAKE Corporation, Cognizant, Delphi Display Systems, Inc. GoFrugal Technologies Pvt. Ltd., HM Electronics, Inc., Imagine! Print Solutions, LG Display Co. Ltd., Microsoft Corporation, NCR Corporation, NEC Display Solutions of America, Inc., Oracle Corporation, Panasonic Corporation, PAR Technology Corporation, Restaurant Service Solutions, Revel Systems, Inc. and Verifone Systems, Inc. are some of the major players operating within the QSR IT market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. The report also provides a detailed competitive analysis of the key players in the market and identifies various business strategies adopted by them. Leading players are currently focusing on providing cost competitive and customized products to the customers. Moreover, as part of this strategy, the companies are engaging in various strategic partnerships, acquisitions, focusing on expanding their business through new service additions and geographical presence.

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Global QSR IT Market

Global Quick Service Restaurants IT Market, By Component

Hardware
Digital Signage
Kiosks
Drive through terminals
Point of Sales
Handheld devices
Digital menu cards
Software
Front of House
Inventory Management
Reconciliation
Labor Management
HR Software
Data Analytics
Marketing
Restaurant Operation
Support Operation
Franchise Management
Service

In addition, the report provides analysis of the global Quick Service Restaurants IT market with respect to the following geographical segments:

North America
Europe
Asia-Pacific
Middle East and Africa
South America

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