According to a recent report by GMI, Inc., restaurant POS terminals market size is projected to exceed USD 25 billion by 2027. 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 industry.

A robust POS payment system helps restaurants connect with customers, maintain order level transaction data, and manage restaurant marketing data to get insights of the buyer data, the items sold and marketing information.

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POS machines come in fixed and mobile types. Growing preference for wireless POS terminals which are compact and portable is driving the adoption of restaurant POS terminals market. These systems allow restaurant owners to carry the terminal to customer’s table which prevents long queues at the cash counter. Rising demand for these machines is encouraging the market players to develop more advanced solutions. Quoting an instance, in 2021, Paytm launched a service- Smart POS that converts an Android phone into a POS terminal allowing android phones to accept contactless payments from debit and credit cards like a normal EDC machine.

As POS system comprise of hardware as well as software, sophisticated services that ensure optimum functioning of the system is observing an elevating demand. Companies are focusing on delivering high-quality services for ensuring that the integrated hardware and software system work efficiently. They provide both remote and on-site maintenance services according to the specific customer requirements. Additionally, providing innovative services strengthens the manufacturer’s position in the restaurant POS terminals market which is urging them to offer high-end services. To illustrate, ParTech Inc. offers implementation services, project management repair services, POS remote care, configuration services, menu management, and 24/7/365 help desk support.

Heightened deployment of restaurant POS terminals market across full-service restaurants, to facilitate efficient business operations, is positively influencing the business space. Application of POS systems in these restaurants help them streamline orders, empower staff with intuitive systems and minimize wait times for diners. They also enable restaurants to track the most preferred dishes, manage menus and optimize the prices in order to maximize their productivity. Besides, integration of analytics in POS systems enables full-service restaurants owners to track average table turnover time to make staffing decisions and improve the turnover strategies.

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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.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope & definitions

1.2    Methodology & forecast parameters

1.3    COVID-19 impact

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    South America

1.3.5    MEA

1.4    Data sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Executive Summary

2.1    Restaurant POS terminals market 360º synopsis, 2017 - 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Product trends

2.1.4    Component trends

2.1.5    Application trends

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