Restaurant POS Terminals Market 2024: 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

Restaurant POS terminals market is expected to cross USD 25 billion by 2024. 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 industry in the years ahead.

In addition to credit cards and cash, customers are nowadays opting for mobile payment options and gift cards, making it essential for restaurants to cope with the skyrocketing trend. With POS systems, restaurants will increasingly be able to accept payments as well as process orders directly at the table, further reducing or eliminating the need for waiters to travel between tables and a stationary terminal to register orders. This would also significantly boost staff efficiency as well as table turn times, further increasing guest satisfaction since customers generally prefer tableside bill payment over waiting for paper checks and card processing. In consequence, this would translate to commendable returns for the overall restaurant POS terminals market.

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POS terminal developers, in order to tap the expanding scope of the cloud, are increasingly focusing on cloud-based technologies to offer enhanced features. For instance, Breadcrumb, a cloud-based restaurant POS system developed by Upserve, allows users to quickly search items on the menu, split checks, track server performance, process online and tableside orders, track top-rated menu items, and even allow owners to train their new employees. Technological advancements such as these are certain to further drive restaurant POS terminals market growth in the coming years.

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 industry 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.

One of the more recent trends making a mark on the restaurant POS terminals market is CRM. As a matter of fact, POS systems integrated with advanced CRM (customer relationship management) solutions are predicted to help businesses increase sales and boost revenue. Of late, restaurants have been using POS systems on a large scale to automatically capture and store guest contact information, including phone numbers and email address, along with their food and drink order history. By applying CRM however, restaurants can create a strong database of customer profiles which serve as the basis for launching targeted promotional discounts and generate rewards points, the results of which can offer increased customer loyalty, ultimately increasing sales revenue of a restaurant.

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Some Point from Table of Contents:

Chapter 6 Restaurant POS Terminals Market, By Application
6.1 Key trends in the restaurant POS terminals industry, by application
6.1.1 FSR
6.1.1.1 Market estimates and forecast, 2013 - 2024
6.1.1.2 Market estimates and forecast, by region, 2013 - 2024
6.1.2 QSR
6.1.2.1 Market estimates and forecast, 2013 - 2024
6.1.2.2 Market estimates and forecast, by region, 2013 - 2024
6.1.3 Bars & pubs
6.1.3.1 Market estimates and forecast, 2013 - 2024
6.1.3.2 Market estimates and forecast, by region, 2013 - 2024
6.1.4 Cafes & bistros
6.1.4.1 Market estimates and forecast, 2013 - 2024
6.1.4.2 Market estimates and forecast, by region, 2013 - 2024
6.1.5 Others
6.1.5.1 Market estimates and forecast, 2013 - 2024
6.1.5.2 Market estimates and forecast, by region, 2013 - 2024

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