What’s Driving the Restaurant POS Terminals Market Growth? | Key Prominent Companies Diebold Nixdorf, Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, Revel Systems, Square,Toast, Inc., Toshiba, Verifone

The rising focus towards increasing business efficiency and offering improved customer satisfaction is certain to augment restaurant POS terminals market size in the forthcoming years. Of late, POS systems have advanced rapidly and have been offering businesses improved flexibility, control and intelligence than ever before. Restaurants are constantly shifting from traditional cash registers and fixed credit card readers to iPads, mobile or cloud-based POS systems, technologies that provide businesses with additional features as well as keep track of all data and transactions in a single system. The advancement in Android and Apple mobile devices along with the growing trend for new online payment methods will further drive the restaurant POS terminals market in the years ahead.

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Moreover, the growing adoption of software tools at food outlets will drive the restaurant POS terminals market. Several hardware components including cash drawers, barcode scanners, card readers, etc., are being operated through software programs. Manufacturers in the industry are offering customized software tools for food outlets that suit their business operations. For instance, NCR Corporation is offering Aloha POS that connects all business operations on a single and intuitive platform to keep the business efficient, fast, and responsive.

The Prominent Companies Covered in Restaurant POS Terminals Market Study: -

1. CAKE Corporation
2. Clover Network, Inc.
3. Diebold Nixdorf
4. Hewlett Packard Enterprise
5. Ingenico Group
6. MICROS Systems Inc
7. NCR Corporation
8. NEC Corporation
9. Panasonic
10. Revel Systems
11. Samsung Electronics
12. Square
13. Toast, Inc.
14. Toshiba
15. Verifone

Some Points From Table of Content: -

Chapter 3 Restaurant POS Terminals Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024
3.2.1.1 Payment industry landscape
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technology landscape
3.4.1 Biometric POS
3.4.2 Countertop POS
3.4.3 Wireless POS terminals
3.4.4 Connected vs. standalone POS terminals
3.5 Industry impact forces
3.5.1 Growth drivers
3.5.1.1 Increasing number of QSR in the U.S.
3.5.1.2 Rise in adoption of the mobile solutions for tableside payment and ordering facility
3.5.1.3 Growing demand for the food delivery services in Asia Pacific
3.5.1.4 Rising demand for the POS systems in restaurants for inventory or stock management
3.5.2 Industry pitfalls and challenges
3.5.2.1 Data security concerns
3.5.2.2 High cost of software upgrades

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The applications of these payment solutions in QSRs are high owing to a rise in the number of fast-food outlets including McDonalds, Pizza Hut, KFC, etc. These companies are incorporating integrated countertop models that allow them to provide self-service to their customers. It allows customers to order and pay the restaurant bills at the counter using a single solution. Moreover, the rapid expansion of these food outlets in several countries is expected to drive the restaurant POS terminals market. For instance, in January 2018, McDonalds announced its plan to open around 1,000 stores worldwide. Currently, McDonalds owns approximately 15,000 franchise stores in the U.S alone.

Elaborating on the geographical frame of reference, irrefutably, North America has left its regional contemporaries behind as far as the expansion of the global restaurant POS terminals market in the continent is concerned. The growth of the restaurant POS terminals market in the region can be aptly credited to the rising number of fast-food joints coupled with increased consumer spending. Countries including Canada and the U.S. are experiencing an increased number of food outlets to cater the high consumption rate of the fast food items among its citizens. As per the National Restaurant Association, in 2017, the U.S. boasted of housing close to a million restaurant locations, while Canadians spent around USD 54 billion at bars, cafes, and restaurants.

Say for instance, the National Restaurant Association claims that the U.S. houses more than 1 million restaurant locations. Majorly driven by the robust proliferation of technology in payment solutions and the escalating proportion of restaurants across the globe, the overall restaurant POS terminals market has been estimated to be pegged at a commendable USD 25 billion by 2024.

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