Restaurant POS Terminals Global Market Exhibit a Remarkable CAGR of 8.5% and is expected to reach $22.83 Billion By 2028 | NCR Corporation, NEC Corporation, Oracle Corporation, Lover Network Inc., TouchBistro Inc.

The restaurant pos terminals market size has grown strongly in recent years. It will grow from $15.09 billion in 2023 to $16.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to customization and integration, economic conditions, consumer behavior, market entrants, adoption phases..

The restaurant pos terminals market size is expected to see strong growth in the next few years. It will grow to $22.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to mobile integration, cloud-based solutions, contactless payments, ai and analytics, demand for customization. . Major trends in the forecast period include evolving user interfaces, demand for mobility, omnichannel capabilities, integration of qr codes, subscription-based models..

Market Overview -
A restaurant point of sale system consists of hardware (POS) and software (hospitality point of sale) that controls a sales transaction, including credit card processing, receipt printing, and other functions. Unlike retail or hotel enterprises, restaurant POS systems are created exclusively for the restaurant industry. A modern restaurant POS system can automate sales, labor, and inventory metrics tracking, streamline internal operations, and connect all of the staff needed to keep the restaurant running efficiently. This helps reduce employee turnover, order errors, wait times, and stress levels while increasing sales, profit, and customer happiness.

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Rising Demand For Online Food Ordering Drives Expansion Of The Restaurant Pos Terminal Market
The growing trend of online food ordering is expected to propel the growth of the restaurant POS terminal market going forward. Online food ordering is the process of placing a food order from a website or other application, either for delivery or pickup. The expansion of online ordering and meal delivery is partly a result of shifting consumer tastes. Restaurant customers are increasingly using mobile apps to place online food orders. Restaurants are utilizing POS systems more frequently to streamline operations and improve customer satisfaction. For instance, according to a food delivery article, published in January 2023 by Appmysite, a US-based no-code mobile app builder, 70% of the customers in the USA prefer to purchase food online and want to have it delivered. Compared to on-site ordering, digital ordering is expanding at a rate that is almost three times faster. Therefore, the growing trend of online food ordering is expected to propel the growth of the restaurant POS terminal market.

Competitive Landscape -
Major companies operating in the restaurant pos terminals market report are NCR Corporation, NEC Corporation, Oracle Corporation, Panasonic Holdings Corporation, PAX Technology, VeriFone Systems Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, Squirrel Systems Inc., PAR Technology Corporation, Brookfield Equinox LLC, Lover Network Inc., TouchBistro Inc., POS-X LLC, Kounta, POS Nation, Posist Technologies Pvt. Ltd., Posiflex Technology, Touch Dynamic, Micros Retail Systems Inc., Aures Group, Diebold Nixdorf Incorporated, Hewlett Packard Enterprise Development LP, INGENICO S.A., Lightspeed Management Company LLC, Revel Systems Inc., Shift4 Payments Inc., Clover Network Inc., ShopKeep, Lithos POS Systems Inc. .

Innovative Solutions Drive Competitive Advantages In The Restaurant Pos Terminals Market
Product innovation is a key trend gaining popularity in the restaurant POS terminals market. Major companies operating in the restaurant POS terminals market are focused on developing innovative solutions to strengthen their position in the market. For instance, in April 2022, Toast, Inc. a US-based restaurant management cloud-based software company launched Toast for Quick Service, a specially designed POS system geared toward limited-service restaurants of all sizes. Toast Mobile Order and Pay Kiosks, for instance, offer enhanced capabilities from Toast's restaurant-grade hardware, enabling companies to accept orders more quickly and precisely, resulting in fewer comps and voids as well as higher gratuities and increased staff retention.

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Key Segments -
The restaurant pos terminals market covered in this report is segmented -
1) By Type: Fixed POS Terminals, Mobile POS Terminals
2) By Deployment Mode: On-Premise, Cloud
3) By Application: Front End, Back End
4) By End User: Full-Service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional Full-Service Restaurant, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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