Innovations in Restaurant Technology and the Rise of Cloud Kitchens Driving Growth in POS Systems for the Hospitality Sector

DUBLIN, Oct. 5, 2023 /PRNewswire/ -- The "POS Machines - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global POS Machines market, estimated at $82.7 billion in 2022, is projected to witness significant growth, reaching a size of $151.5 billion by 2030. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 7.9% during the analysis period from 2022 to 2030.

In today's dynamic business landscape, staying informed about industry trends and market dynamics is essential. Within the Point of Sale (POS) machines sector, the global market is experiencing significant growth. To navigate this evolving landscape successfully, the POS Machines Market Research Report serves as a vital resource, providing comprehensive insights into market dynamics, competitive landscapes, challenges, and opportunities.

The report underscores a market poised for robust expansion in key regions, including the United States, China, Japan, Canada, and Germany. It presents in-depth analysis of hardware and software segments. The hardware segment is projected to achieve a strong 6.9% Compound Annual Growth Rate (CAGR), reaching $86.6 billion by the end of the analysis period, while the software segment is estimated to experience robust growth at a 9.8% CAGR over the next eight years.

Key Market Players (Total 157 Featured):

• AURES Group
• Diebold Nixdorf, Incorporated
• Hewlett Packard Enterprise Development LP
• Ingenico SA
• MiTAC Computing Technology Corporation (MiTAC Group)
• Mswipe Technologies Pvt. Ltd.
• NCR Corp.
• NGX Technologies Pvt. Ltd.
• Oracle Corp.
• PAX Technologies Pvt Ltd.
• Presto Automation Inc.
• Qu, Inc.
• Revel Systems, Inc.
• Toast, Inc.
• Toshiba Corp.
• TouchBistro, Inc.
• VeriFone, Inc.
• Worldline S.A.
• Xenial, Inc.

Economic Outlook:

The global economic outlook is showing signs of improvement, with cautious optimism for the coming years. The United States, despite experiencing slower GDP growth due to tight monetary and financial conditions, has successfully overcome the recession threat. In the Euro area, easing headline inflation is contributing to increased real incomes and economic activity.

China is expected to witness substantial GDP growth as the pandemic threat diminishes, and the government revises its zero-COVID policy. India remains on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

However, challenges persist, including uncertainty surrounding the war in Ukraine, slower-than-expected global inflation decline, and ongoing food and fuel inflation in developing nations. High retail inflation continues to impact consumer confidence and spending.

Governments are addressing these challenges, which is boosting market sentiments. As governments work to combat inflation by raising interest rates, new job creation may slow down and impact economic activity. The regulatory landscape is evolving, with increasing pressure to incorporate climate change considerations into economic decisions.

Despite potential challenges to corporate investments due to inflation concerns and weaker demand, the rise of new technologies offers opportunities. Technologies such as generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies beyond electrification and renewables have the potential to drive substantial incremental growth and value to global GDP in the coming years.

In this mixed economic environment, businesses that exhibit resilience and adaptability will find opportunities amid challenges, positioning themselves for future success

What`s New?

• Special discussions on the global economic climate and market sentiment
• Coverage on global competitiveness and key competitor percentage market shares
• Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and trademarked research platform
• Complimentary updates for one year
• Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Point-of-Sale (POS) Systems Evolve to Become an Integral Part of Business Operations
• Increased Popularity of Cashless Payment Methods Drive Market Growth
• Global Economic Update
• World Shifts to an Endemic COVID-19 Strategy With Focus on Multilateral Approach to Managing Future Pandemics
• From Pandemic to War & Inflation: "Subdued Outlook for 2023 Despite Signs of Easing Inflationary Conditions
• Although Declining for the First Time Since the Russia-Ukraine War, Global Oil Prices Still Remains Higher Than 2019 Levels Which In Turn Will Take Inflation Longer Than Expected to Fall: Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
• Slower Than Anticipated Decline Makes Inflation a Stickier Than Expected Problem to Solve in 2023: Global Inflation Rates (In %) for the Years 2019 Through 2024
• Global Economy Faces a Tough Climb Towards Recovery Made Rockier by the War, Anti-Inflation Fiscal Policies & Slower Than Desirable Easing of Inflationary Pressures: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
• Impact of the COVID-19 Pandemic on POS Terminals Market
• POS Machines - Global Key Competitors Percentage Market Share in 2023 (E)
• POS Machines Competitor Market Share Scenario Worldwide (in %): 2022E
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
• Hardware (Component) Global Competitor Market Share Positioning for 2022 & 2030
• Software (Component) Market Share Breakdown of Key Players: 2022 & 2030
• Services (Component) Competitor Revenue Share (in %): 2022 & 2030
• Fixed (Terminal Type) Market Share Shift by Company: 2022 & 2030
• Mobile (Terminal Type) Global Competitor Market Share Positioning for 2022 & 2030
• What is a POS System?
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Growing Shift Towards Contactless Payments and Mobile Financial Transactions in Varied Industries Accelerate Demand for mPOS Terminals
• Global Contactless Payments Market Size (in US$ Billion) for the Years 2020, 2022, 2024 and 2026
• Advanced Features Aid in Boosting Business Performance and Customer Experience
• Changing Payments Landscape & Rapid Pace of Digitization Presents Opportunity for mPOS Terminals Market
• Global Digital Transformation Spending (In US$ Billion) for 2017-2023
• Ubiquity of Mobile Devices and Rising Use of Smartphones for Payments Drive Momentum in mPOS Terminal Market
• Adoption Rate of Smartphones as a % of Total Population: 2016-2022
• mPOS Value-Added Services (VAS) to Drive Future Gains in mPOS Terminals Market
• Rise of Blockchain in Restaurant POS Systems, a Megatrend of Note
• AI Technology to Further Improve Performance of POS Systems
• Cloud Based POS Solutions Witnesses a Sharp Rise in Demand
• Retail Emerges as the Leading Application Market for mPOS Terminals
• Application of Digital Solutions Used to Improve In-Store Retail Experience
• POS Trends Shaping the Retail Domain
• Market Benefits from Growing Opportunities in the Restaurant Industry
• Rise in Use of Mobile POS Solutions for Tableside Ordering and Payments
• Innovations in Restaurant Technology Spur Development of Next-Generation Restaurant POS Systems
• A Recap of the Pandemic Impact on the Food Service Industry
• COVID-19 Induced Accelerated Rise of Cloud Kitchens Drives Demand for Restaurant POS Systems
• How POS Solutions for Cloud Kitchens Can Benefit Cloud Kitchen Operators
• Innovations in Restaurant Technology Spur Development of Next-Generation Restaurant POS Systems
• Hospitality Sector Turns to mPOS Terminals Improve Customer Experience
• Growth of Multichannel Retail Creates Demand for Advanced POS software
• Growing Significance of eCommerce POS Integration: Bridging Online and Offline Business Channels
• Global B2C E-Commerce Sales in US$ Trillion for the Years 2019 Through 2025
• Modern POS Solutions Enable Merchants Adapt to Changing Consumer Purchasing Behavior
• mPOS Terminals Offer Numerous Benefits to SMEs
• Security of mPOS Terminals: A Highly Critical Requirement

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/nj0icu

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