Catering Software Market Emerging Demands, Current Trends, Latest Industry Size, Growth, Share and Competitive Landscape Forecast, The Insight Partners

According to our latest market study on "Catering Software Market Forecast to 2027 - COVID-19 Impact, and Global Analysis - by Type (Cloud and On-Premises) and End User (Caterers, Restaurants and Hotels, and Others)," the market was valued at US$ 201.93 million in 2020 and is projected to reach US$ 519.14 million by 2027; it is expected to grow at a CAGR of 14.4% from 2020 to 2027.
Big data analytics technology to improve catering operations is attributing to the growth of the market. The Big Data analytics technology has enormous potential to completely transform the catering business. The adoption of Big Data solutions helps improve the efficiency of distribution and production networks in the overall catering industry. The technology allows tracking the entire process of the transportation of supplies. With real-time insights, customers can track their purchase orders on their devices and check the catering status. The integration of an analytics dashboard in catering software helps track and evaluate the performance of catering agents.

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In North America, the US holds the largest share when it comes to travel and tourism, followed by Mexico and Canada. Further, the region has witnessed the increasing number of international arrivals since 2010. Meanwhile, the rate of tourism in Mexico is growing owing to the steady investments in resorts and hotels backed by government initiatives to promote travel industry in the country. Thus, the increasing number of travelers as well as positive outlook for the adoption of new technologies, favorable economic policies for technological developments, and eating out culture make North America a crucial region for the catering software market players. Also, the presence of market players such as Better Cater, Inc; CaterEase Software; CaterTrax, Inc.; and Restaurant & Catering Systems is another major factor anticipated to drive the market in this region during the forecast period.

The Key Players In The Global Catering Software Market Are:

•Aptus Systems Ltd.
•Better Cater, Inc
•Caterease Software
•CaterTrax, Inc.
•CaterZen by Restaurant & Catering Systems
•Flex Catering
•FoodStorm Catering Software (CaterXpress)
•Planning Pod (My Wedding Workbook, LLC)
•Profit Systems Inc.
•Pxier

Impact of COVID-19 Pandemic on Catering Software Market

Following the global outbreak of the COVID-19 pandemic, some businesses have been forced to scale back their operations due to various containment measures issued by governments around the world. The virus's rapid spread has prompted governments around the world to place stringent restrictions on the movement of people and vehicles. Businesses that rely on physical interaction to generate revenue have been severely harmed by the lockdowns. As a result, some businesses are concentrating on increasing conversions, interactions, and revenue through digital media.

In the catering industry, the inadequacy of area mapping, and imbalance between demand and resource availability lead to several challenges. Machine learning and Artificial Intelligence (AI) are the foundations of the next-generation catering technologies. These technologies enable systems to learn from recorded data, which comprise algorithms, patterns, and predictive insights. Several online food delivery companies are adopting the machine learning technology to enhance their catering business and increase their businesses' efficiency. For instance, Deliveroo, a UK-based food delivery company, invests in advanced technologies such as machine learning to stay competitive in the market by offering more effective food delivery service. Glovo, a Spain-based food delivery company, also uses machine learning to forecast the probability of remaining active on the app. Thus, the integration of machine learning in catering businesses is projected to boost the demand for catering software during the forecast period.

The Segments and Sub-Section of Catering Software Market are shown below:

By Deployment (Cloud and On-Premise) and

By End user (Caterers, Restaurants & Hotels, and Others)

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Countries such as India, Vietnam, Malaysia, Indonesia, Philippines, and Australia are experiencing significant number of tourists. Also, countries such as Sri Lanka and Nepal are registering double digit of growth rate in tourism. Meanwhile, APAC is characterized by the presence of the large number of young population coupled with rising deposable income, which is the major factor propelling the tourism industry in this region. Further, fast food restaurant chains are heavily investing in Malaysia, China, India, Indonesia, and South Korea owing to the growing food service industry in this region. Thus, growing rate of tourism in Asia Pacific, increasing inclination of population toward restaurant dining, rising trend of multicultural cuisine, and surging adoption rate of digitization and advanced technologies in this region are anticipated to drive the growth of the catering software market in APAC during the forecast period.

Companies operating in the global catering software market adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. These players mainly perform investments strategy to expand their business and maintain their brand name globally. For instance, in 2020, CaterZen invested programming hours since the beginning of March to confirm restaurants and caterers can continue operations by focusing strongly on online ordering and food delivery.

The Insight Partners Catering Software Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global Catering Software Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Catering Software Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the Catering Software Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global Catering Software Market scenario, in terms of historical market revenues, and forecast till the year 2027.
•Chapter Seven to ten discuss Catering Software Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
•Chapter Twelve provides the detailed profiles of the key companies operating in the global Catering Software Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
•Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

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This release was published on openPR.