Global Quick Service Restaurant (QSR) IT Market Aims for USD 21.77 billion by 2027 - Exclusive Report by TMR

The global quick service restaurant (QSR) IT market is expected to reach USD 21.77 billion by 2027, growing at a CAGR of 7.7% from 2023 to 2027. The QSR IT market comprises hardware, software, and services designed to enhance the efficiency and customer experience in quick-service restaurants. These solutions enable order processing, inventory management, customer engagement, and data analytics.

QSR IT refers to the information technology solutions that are used by quick service restaurants to manage their operations and improve their customer experience. QSR IT solutions include point-of-sale (POS) systems, kitchen management systems, customer relationship management (CRM) systems, and supply chain management (SCM) systems.

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Market Trends

The following are some of the key trends in the global QSR IT market:
• Increasing adoption of cloud-based QSR IT solutions: QSRs are increasingly adopting cloud-based QSR IT solutions to reduce costs, improve scalability, and enhance security.
• Growing demand for QSR IT solutions to support omnichannel operations: QSRs are investing in QSR IT solutions to support omnichannel operations, such as online ordering, delivery, and mobile payments.
• Rising adoption of artificial intelligence (AI) and machine learning (ML) in QSR IT solutions: AI and ML are being used in QSR IT solutions to improve operational efficiency, customer experience, and profitability.

Market Challenges

The following are some of the key challenges in the global QSR IT market:
• Cybersecurity threats: QSRs are increasingly facing cybersecurity threats, such as data breaches and malware attacks.
• Data integration: QSRs need to integrate data from different sources, such as POS systems, kitchen management systems, and CRM systems, to get a holistic view of their business.
• Lack of skilled IT staff: QSRs are facing a shortage of skilled IT staff to manage and implement their IT infrastructure and applications.

Key Players

Key players in the thermal transfer labels market include label manufacturers, packaging companies, retailers, and logistics providers. Prominent organizations in this 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. And others

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Recent Developments

Here are some recent developments of companies in the global quick service restaurant (QSR) IT market, with the year of the development: 2023

• Oracle announced the launch of its new Oracle Hospitality Cloud for QSR solution. The solution is designed to help QSRs streamline their operations, improve customer service, and increase sales.
• NCR announced the acquisition of Radiant Systems, a leading provider of point-of-sale (POS) and kitchen display systems (KDS) for the QSR industry. The acquisition is expected to strengthen NCR's position in the QSR IT market and give it access to Radiant Systems' innovative POS and KDS technologies.
• PAR Technology announced the launch of its new PAR Brink POS system for QSRs. The system is designed to be fast, reliable, and easy to use. It also offers a variety of features to help QSRs improve their operations and customer service.

Investment Opportunities in the Global Quick Service Restaurant (QSR) IT Market

Here are some of the key investment opportunities in the global QSR IT market:
• New product and solution development: QSR IT manufacturers are constantly developing new products and solutions to meet the evolving needs of QSRs. For example, new QSR IT solutions have been developed to support omnichannel operations, AI and ML, and cybersecurity. This is creating new opportunities for investors to invest in companies that are developing innovative QSR IT products and solutions.
• Expansion into new markets: QSR IT manufacturers are expanding into new markets, such as emerging economies, to capitalize on the growing demand for QSR IT solutions in these regions. This is creating opportunities for investors to invest in companies that are well-positioned to benefit from the growth of the QSR IT market in emerging economies.

Market Segmentation

The thermal transfer labels market can be segmented based on various criteria, including label type, application, industry, region, and more:
• Label Type: Labels can be categorized as paper labels, synthetic labels, and specialty labels.
• Application: Labels are used for product identification, barcode labeling, packaging, and more.
• Industry: The market serves industries including retail, manufacturing, logistics, healthcare, and others.
• Region: The market spans regions such as North America, Europe, Asia-Pacific, and Latin America.

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Reasons to Buy The Quick Service Restaurant (QSR) IT Market Report:

• Get a comprehensive overview of the QSR IT market: The report provides a comprehensive overview of the QSR IT market, including market size, market segmentation, market trends, market challenges, and market outlook.
• Identify key investment opportunities: The report identifies key investment opportunities in the QSR IT market, such as new product and solution development, expansion into new markets, and acquisitions and mergers.
• Make informed business decisions: The report provides insights that can help businesses make informed decisions about their QSR IT strategies.
• Stay ahead of the competition: The report provides insights into the competitive landscape of the QSR IT market, which can help businesses stay ahead of the competition.

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