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Surging Demand For Mobile Pos Systems Fuels Growth In The Restaurant Pos Terminal Market: Powering Innovation and Expansion in the Restaurant Point of Sale Terminal Market by 2025
Restaurant Point of Sale Terminal Market
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What Is the Expected CAGR for the Restaurant Point of Sale Terminal Market Through 2025?_x000D_
The market size of the restaurant point of sale terminal has seen considerable growth in the past few years. The projections show growth from $30.91 billion in 2024 to $32.7 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The past growth is credited to the heightened efficiency and precision in transactions, improved order and inventory management, better customer experience, menu personalization, and regulatory compliance._x000D_
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What's the Projected Size of the Global Restaurant Point of Sale Terminal Market by 2029?_x000D_
The market size of restaurant point of sale terminals is projected to expand significantly in the forthcoming years, reaching $47.44 billion in 2029, with a compound annual growth rate (CAGR) of 9.7%. This anticipated growth during the forecast period can be attributed to factors such as customer loyalty schemes, data-oriented personalization, improved offline functionality, sustainability and ecological initiatives, global scale-up, and support for multiple languages. The forecast period is also slated to witness major trends such as integration with platforms for online orders, contactless payment methods, enhanced kitchen display integration, emphasis on customer relationship management (CRM), self-service kiosks, and ordering stations, along with customization and scalability._x000D_
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Top Growth Drivers in the Restaurant Point of Sale Terminal Industry: What's Accelerating the Market?_x000D_
The escalating need for mobile POS systems is anticipated to drive the expansion of the restaurant POS terminal market in the future. Mobile POS systems are essentially wireless gadgets and smartphone-related devices that operate both as a cash register and an electronic POS terminal in a wireless manner. The surging demand for such systems naturally amplifies the requirement for restaurant point-of-sale terminal markets that make use of mobile POS systems. According to iVend Retail, a software development firm based in the U.S., in March 2024, 44% of retailers identified the implementation or enhancement of mobile POS as their chief priority for retail innovation in 2023, marking an increase from 33% the preceding year. The worldwide market for mobile POS terminals, valued at $36.07 billion in 2022, is anticipated to see an annual growth rhythm of 11.1% until 2030. Hence, the burgeoning demand for mobile POS systems remains a significant driver of the restaurant POS terminal market._x000D_
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What Trends Will Shape the Restaurant Point of Sale Terminal Market Through 2029 and Beyond?_x000D_
In the restaurant POS terminal market, technological innovations have surfaced as one pivotal trend gaining traction. The key players in this market are developing novel technology-based solutions to meet consumer expectations and maintain their market standing. For instance, Openbravo, a cloud-based software supplier from Spain specializing in retail and restaurants, unveiled a Point-of-Sale (POS) system for fast casual and quick service restaurants in June 2022. This move aimed at offering swift services to boost efficiency and revenue margins. Openbravo's cloud-based POS system is designed to offer expedited customer service and operational efficiency. It's particularly suited for multi-location fast casual and quick service restaurants, owing to its scalable architecture feature._x000D_
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What Are the Main Segments in the Restaurant Point of Sale Terminal Market?_x000D_
The restaurant point of sale terminal market covered in this report is segmented -_x000D_
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1) By Product: Fixed, Mobile_x000D_
2) By Deployment Mode: Cloud, On Premise_x000D_
3) By Component: Software, Hardware, Services_x000D_
4) By End User: Fast Service Restaurants (FSR), Quick Service Restaurant (QSR), Other End Users_x000D_
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Subsegments:_x000D_
1) By Fixed: Countertop POS Systems, Self-Service Kiosks, Integrated POS Systems_x000D_
2) By Mobile: Handheld POS Devices, Tablet POS Systems, Smartphone-Based POS Solutions_x000D_
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Which Top Companies are Driving Growth in the Restaurant Point of Sale Terminal Market?_x000D_
Major companies operating in the restaurant point of sale terminal market include 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._x000D_
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Which Regions Will Dominate the Restaurant Point of Sale Terminal Market Through 2029?_x000D_
North America was the largest region in the restaurant point of sale terminal market in 2024. The regions covered in the restaurant point of sale terminal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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