Restaurant Point of Sale Terminal Market Size, Top Key Players, Growth, Trend Analysis And Forecast To 2033

The restaurant point of sale terminal market size has grown strongly in recent years. It will grow from $29.57 billion in 2023 to $31.64 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to efficiency and accuracy in transactions, streamlining order management, inventory management, enhanced customer experience, menu customization, compliance with regulations..

The restaurant point of sale terminal market size is expected to see strong growth in the next few years. It will grow to $42.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to customer loyalty programs, data-driven personalization, enhanced offline capabilities, sustainability and green initiatives, global expansion and multi-language support.. Major trends in the forecast period include integration with online ordering platforms, contactless payments, enhanced kitchen display integration, focus on customer relationship management (crm), self-service kiosks and ordering stations, customization and scalability..

Market Overview -
The restaurant point of sale (POS) terminal are used to reduce turnaround time by accepting orders at the table and printing KOTs instantly. Restaurants deploy the point of sale systems to operate with improved efficiency, reduce billing time, monitor the order completion time, and avoid order errors during peak hours. They involve payroll management, inventory control, recording of sales figures, and billing to ensure the business functions. POS terminal systems are integrated with online ordering, E-wallets, table reservations, loyalty programs, and many others.

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Surging Demand For Mobile Pos Systems Fuels Growth In The Restaurant Pos Terminal Market
Increasing demand for mobile POS systems is expected to propel the growth of the restaurant POS terminal market going forward. Mobile POS systems refer to wireless devices and smartphone-related devices that perform the functions of a cash register and an electronic POS terminal wirelessly. The increase in demand for mobile POS systems automatically increases demand for the restaurant -point of sale terminal market as they use mobile POS systems. For instance, according to Emizen Tech, an India-based company that provides industrial processes and technologies to assist clients, due to the epidemic, there has been an increase in mobile POS systems, and the number of individuals utilizing mobile eWallets to make payments has increased from 900 million to 1.48 billion in 2021. Mobile wallets were used in 25.7% of POS transactions. Within three years, it is predicted to rise by 33.4%. There are 1.5 billion people who are using QR codes for payment. Therefore, the increasing demand for mobile POS systems drives the restaurant POS terminal market.

Competitive Landscape -
Major companies operating in the restaurant point of sale terminal market report are Squirrel Systems Ltd., Verifone Systems Inc., NCR Corporation, Revel Systems Inc., Aireus Inc., Dinerware Inc., Posist Technologies Pvt. Ltd., Epos Now Ltd., Alchemy Web Private Limited, Touch Bistro Inc., Oracle Corporation, Diebold Nixdorf Inc., Hewlett-Packard Development Company L. P., Ingenico Group, Lavu Inc., Cake Corporation, Mad Mobile Inc., Square Inc., Toast Inc., Brightpearl Limited, Lightspeed POS Inc., Clover Network Inc., PayPal Holdings Inc., SpotOn Inc., Loyverse Inc., Upserve Inc., ShopKeep Inc., Harbortouch Inc., AccuPOS Inc., Future POS LLC, Heartland Payment Systems Inc.

Technological Advancements Drive Innovation In The Restaurant Pos Terminal Market
Technological advancements have emerged as a key trend gaining popularity in the restaurant POS terminal market. Major companies operating in the restaurant POS terminal market are focused on new technological solutions to meet consumer demand and sustain their position. For instance, in June 2022, Openbravo, a Spain-based cloud-based software provider specializing in retail and restaurants, introduced Point-of-Sale (POS) for quick service restaurants and fast casual resturants to provide rapid services to enhance efficiency and profit margins. Openbravo's Point-of-Sale (POS) is a cloud-based system that is capable of offering speed, customer service, and operational efficiency that are well-suited to multi-location quick service and fast-casual restaurants due to its scalable architecture feature.

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Key Segments -
The restaurant point of sale terminal market covered in this report is segmented -
1) By Product: Fixed, Mobile
2) By Deployment Mode: Cloud, On Premise
3) By Component: Software, Hardware, Services
4) By End User: Fast Service Restaurants (FSR), Quick Service Restaurant (QSR), 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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