Restaurant POS Terminals Market 2027 | New Technologies Transforming the Global Business
The restaurant POS terminals market research study is a detailed document that presents a gist of the global industry space in terms of numerous parameters. Some of these falls along the likes of the industry insights, growth drivers, industry segmentation, and trends worldwide. Also included in the research report is information pertaining to the companies partaking in the market share and the information pertaining to the regulatory norms that impact the commercialization landscape of this vertical.
Growing proclivity towards convenient digital payment solutions among people and increasing penetration of payment systems like smart cards and mobile wallets has significantly impelled the deployment of POS terminals across hospitality sector in the recent years. Meanwhile, rising adoption of POS systems for payment transactions, inventory management and online ordering is as well salted to augment the growth of restaurant POS terminals market.
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With the proliferating use of POS systems across restaurants, various industry players are focusing on the development of innovative solutions than the existing offerings to effectively serve the consumer demand. Citing an instance, in 2021, Square launched a stand-alone POS system- Square KDS for restaurants that offer on-screen interface to track and organize orders, to maintain proper communication regarding these orders across the restaurant, and to oversee the progress.
POS solutions are in high demand across full-service restaurants as they play a key role in carrying out the business operations efficiently. Full-service restaurants use POS systems that help them to streamline the orders, empower the staff with intuitive systems and minimize wait times for diners. The machines also allow restaurants to track the most preferred dishes, manage menus, optimize prices for increasing productivity and to ensure streamlined front and back-end operations through inventory management. Besides, incorporation of analytics in POS terminals help full-service restaurants in tracking aggregate table turnover time to take staffing decisions and improve turnover strategies.
Growing focus of manufacturers to offer high-quality services has instigated the adoption of efficient hardware and software components which is favoring the product adoption. They provide on-site as well as remote maintenance services as per the specific customer requirements. Introduction of innovative service portfolio in turn bolsters the manufacturer’s market position. To illustrate, ParTech Inc. offers a wide range of services like configuration services, project management, implementation services, repair services, menu management, POS remote care and 24/7/365 help desk support.
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Speaking of the regional outlook, Middle East & Africa is observing higher product adoption driven by rising penetration of digitalization in the region, which is undeniably providing ample growth opportunities to regional restaurant POS terminals market. In addition, government organizations in the region are also promoting the adoption of digital payment techniques. According to a study by Mastercard, 82% respondents in the UAE prefer contactless payments as of October 2020.
Growing usage of smartphones has further increased the application of mobile wallets which is urging restaurant owners to deploy POS terminals. Another important factor favoring the adoption of these systems is a rising number of international tourists in the region.
Major Key Points from Table of Content:
Chapter 5 Restaurant POS Terminals Market, By Product
5.1 Restaurant POS terminals market share, by product, 2020 & 2027
5.2 Fixed POS terminals
5.2.1 Market estimates and forecast, 2017 – 2027
5.3 Mobile POS terminals
5.3.1 Market estimates and forecast, 2017 – 2027
Chapter 6 Restaurant POS Terminals Market, By Component
6.1 Restaurant POS terminals market share, by component, 2020 & 2027
6.2 Hardware
6.2.1 Market estimates and forecast, 2017 – 2027
6.3 Software
6.3.1 Market estimates and forecast, 2017 – 2027
6.4 Services
6.4.1 Market estimates and forecast, 2017 – 2027
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