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Quick Service Restaurant IT Market Competitive Intelligence, Food and Beverage Industry, Food Service Industry, Beverage Industry, Market Intelligence, Competitor Analysis
The global QSR IT market was valued at US$ xx million in the year 2018 and is expected to reach US$ xx million by the year 2023, growing at a CAGR of approximately 8.1%. A Quick Service Restaurant (QSR) is a particular type of restaurant that has minimal table service and serves fast food cuisines.
The food served at QSRs are typically from a limited menu and is cooked in advance and then kept hot for customers so that they can carry off the food to their home. Information technology (IT) is facilitating the QSR industry in some innovative ways to attract customers.
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QSR chains are turning more to technology for the front-end and back-end services that provide more value and convenience to customers. Generation Z is craving for a technology-centric involvement while dining at QSR. As such, they expect technology as a part of dining experience even if it is as simple as digital menu, free Wi-Fi, etc.
The global QSR IT market is mainly gaining from the growing need of restaurants to develop new ways of generating revenue to beat their competitors. Nowadays, QSRs are adopting IT solutions for their front-end customer services such as digital menu, digital signage, POS solutions, and back-end services such as inventory management and others.
The QSR market has tremendous growth prospects in the coming years, owing to the rising adoption of mobile payments solutions and the growing need for accuracy in financial processing from the restaurant side.
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