Quick Service Restaurant IT Market - Healthy CAGR of 7.4% Over the Period between 2016 and 2024

The U.S. market for quick service restaurant is witnessing a rapid digital transformation. Technological advancements are making inroads in the restaurant industry in the U.S., with restaurateurs increasingly integrating tech gadgets in the internal systems to monitor, control, and undertake a number of core operations.

The use of electronic gadgets and systems in the quick service restaurant industry, where timely delivery of orders forms the core of success and good relations with customers, has demonstrated excellent improvements in delivery times and revenues. Tech savvy consumers are also favoring places that are capable of linking the technologies they use to ensure quicker delivery of meals and bill payments.

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Realization of such manifold benefits of technological intervention in the U.S. QSR IT market will prompt a large number of restaurant owners to allocate a larger share of their budgets for technology in the next few years.

Transparency Market Research estimates that the U.S. quick service restaurants IT market will expand at a healthy CAGR of 7.4% over the period between 2016 and 2024. The market, which had a valuation of US$ 3,208.76 mn in 2015, will rise to a valuation of US$ 6,221.37 mn by 2024.

Handheld Devices to Lead as their Use in Daily Operations Rise
Of the three key components of a typical IT solution for QSRs, the hardware segment is the largest contributor to the overall revenue of the U.S. QSR IT market.

The segment contributed about US$ 1,994.64 mn to the market’s overall revenues in 2015. Products such as digital signage systems, point of sale, digital menu cards, handheld devices, kiosks, and drive-through terminals come under the purview of this segment. Of these, the segment of digital signage systems accounted for a nearly 34% share in the market in 2015, followed by the segment of point of sale hardware with a 21% share.

The high initial costs of digital signage contributed prominently to the growth in the market’s revenues owing to the increased adoption of these products.

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This release was published on openPR.