COVID-19 Pandemic to Have a Profound Impact on the Growth of the Quick Service Restaurants IT Market, Varied Applications to Play a Key Role in the Seamless Functioning of Quick Service Restaurants, Says TMR
- The quick service restaurants IT market will gain prominent growth across the forecast period of 2020-2027 on the back of the rising influence of technology in the food and beverage sector
- The quick service restaurants IT market is expected to expand at a CAGR of 7.7 percent during the assessment period of 2020-2027
ALBANY, N.Y., June 8, 2021 /PRNewswire/ -- Quick Service Restaurants IT Market: Growth Summary
The growing innovation and customization in the food menu and the rising demand for automation and advanced technology in the restaurant industry will bring tremendous growth opportunities for the quick service restaurants IT market during the forecast period of 2020-2027.
QSR refers to quick service restaurants are also known as fast food restaurants. These restaurants focus only on delivery services and have minimal table service. QSR IT solutions help in increasing the technological advancements across restaurant industry for providing convenience to the consumers. The convenience factor plays a major role in the growth of the quick service restaurants IT market. Thus, these factors will help in increasing the growth opportunities.
The experts at Transparency Market Research (TMR) have conducted intense research across the quick service restaurants IT market. The TMR experts predict the quick service restaurants IT market to expand at a CAGR of 7.7 percent across the assessment period of 2020-2027. The global quick service restaurants IT market is prognosticated to expected to reach US$ 21,771 mn by the end of the forecast period that is 2027.
The COVID-19 pandemic is playing a vital role in the growth of the quick service restaurants IT market. With the shutting down of dine-in restaurants and cafes for a considerable span, the demand for quick service restaurants grew immensely. This aspect eventually had a large impact on the growth of the quick service restaurants IT market. The advent of the second and the third wave of COVID-19 coupled with frequent enforcement of lockdowns for consistent periods have further invited significant advancements.
Explore 170 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Quick Service Restaurant (QSR) IT Market (By Component - Hardware (Digital Signage, Kiosks, Drive Thru Terminals, Point of Sales, Handheld Devices, Digital Menu Cards), Software (Front of House, Inventory Management, Reconciliation, Labor Management, HR Software, Data Analytics, Marketing, Restaurant Operation, Support Operation and Franchise Management) and Service) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027 at https://www.transparencymarketresearch.com/global-quick-service-restaurant-it-market.html
Key Findings Of The Report
QSR POS Technologies to Brighten the Growth Prospects across the Quick Service Restaurants IT Market
POS strategies are gaining traction across the quick service restaurants IT market. A sound POS system is necessary for seamless operations. Cloud-based intelligence, anti-theft mechanisms, 24x7 chat support, and offline mode are some of the features that QSR POS technologies provide, which help propel growth.
Location Awareness APIs at QSR's to invite Exponential Growth
The utilization of drive-thru technology that identifies customers through loyalty programs using location awareness will bring immense growth opportunities for the quick service restaurants IT market. The solution provides a mobile application that signals the digital board at the QSR's which uses Artificial Intelligence (AI). The digital boards greet customers and display personalized information such as loyalty points, names, and others. These technologies appeal more to the customers and help in attracting considerable growth. All these aspects bode well for the development of the quick service restaurants IT market.
Analyze global Quick Service Restaurant IT Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Contactless Services to Attract Considerable Growth
With the advent of COVID-19, contactless technologies have invited great attention. Contactless environments and stringent sanitization protocols are expected to stay for long across quick service restaurants. For creating such environments, quick service restaurants IT solutions are the key. From placing an order to payment methods, contactless technologies are being developed for every aspect. These factors will decide the growth trajectory of the quick service restaurants IT market.
Mobile Point-of-Sale (mPOS) Terminals Market - Global mobile point of sale (mPOS) terminals market registered a CAGR of 37.2% between 2019 and 2027. The global mobile point-of-sale (mPOS) terminals market is projected to be driven by replacement demand due to EMV migration & advantages such as ease of use due to mobility.
Payment Service Provider Market- Worldwide digital transactions are surging due to innovation in Fintech. Likewise, digital wallets are sweeping the payment service provider market at the lightening speed, from a revenue share of ~19% in 2019 to ~25% by 2027.
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