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Restaurant Point of Sale Terminal Market Industry Overview, Share, Trend, Segmentation And Forecast To 2033
Restaurant Point of Sale Terminal Market Overview
As per the report, 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 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%.
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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.
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.
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
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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.
Contents of the report:
1. Executive Summary
2. Restaurant Point of Sale Terminal Market Report Structure
3. Restaurant Point of Sale Terminal Market Trends And Strategies
4. Restaurant Point of Sale Terminal Market - Macro Economic Scenario
5. Restaurant Point of Sale Terminal Market Size And Growth
…..
27. Restaurant Point of Sale Terminal Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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