ALBANY, New York, Feb. 18, 2019 /PRNewswire/ -- Competition in the global POS restaurant management systems market is likely to increase in the coming years due to the increasing number of players entering the market, observes Transparency Market Research. Key players in this market are focusing on providing customized solutions to restaurant operators and owners as per their business operations. These players are also offering innovative solutions such as staff scheduling, inventory management tools, and payroll that could further fuel the competition in the market. However, new players might challenge the growth of previous players through their innovative solutions offerings. In the report, some of the prominent players have been analyzed including Clover, TouchBistro, PAX Technology, Ravel Systems POS, EPOS now, and POSist Technologies Pvt. Ltd.
According to the Transparency Market Research, the global POS (point of sale) restaurant management systems market is expected to generate a revenue of US$30.0 bn by the end of the forecast period in 2026. During the forecast period between 2017 and 2026, the market is projected to exhibit a healthy CAGR of 12.4%.
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Based on type, the demand for mobile POS terminals is expected to lead the market over the projected period and might generate high revenue as compared to other types of sources. Increasing demand and the growing popularity of wireless technology is the key factor driving the demand for mobile POS terminal across the globe. Moreover, reducing prices in mobile devices further augmented the demand in this segment. In terms of regional analysis, the Asia Pacific excluding Japan is expected to hold maximum share in the POS restaurant management systems market. Increasing purchasing power in emerging economies such as India and China are expected to be the most profitable markets for the growth POS restaurant management systems.
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Multiple Benefits of Installing POS in Restaurants to Boost Market Performance
The POS (point of sale) restaurant management systems market is expected to rise at a significant rate in the coming years as it plays an essential part while registrations of payment receptions, sales operations, and discounts on the cash register. It increases the working efficiency of the restaurant owners by reducing time order generation, lowering time per transaction, and reduces errors especially during the peak service hours.
In addition, POS installation in restaurants has gained huge popularity as it helps in saving time and cost. The applications of POS restaurant management systems are also high in restaurants offering takeaway or pre-order food services. Considering these factors, the global POS (point of sale) restaurant management systems market is likely to grow substantially.
Inaccessibility of Single Seamless Integrated Software to Hamper Market Performance
Despite the growing demand for POS (point of sale) restaurant management systems, there are factors that might deter the growth potential in this market. Inaccessibility of single seamless integrated software is acting as the major deterrent limiting the growth in the global POS restaurant management systems market. There are also multiple solutions offered by different vendors that are planned to streamline restaurants operations. But these solutions are not capable of providing unified interactions with other systems deployed at the restaurant. With the presence of multiple systems, they have limited connectivity with each other. However, rapid growth in the online purchase and growing preference for eating in restaurants is likely to drive the demand in the POS restaurant management systems market.
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The information presented in this review is based on a TMR report, titled, "POS (point of sale) Restaurant Management Systems Market (Types - Mobile POS Terminal, and Fixed POS Terminal; End-User - Full-Service Restaurant, and Quick-Service Restaurant; Application - Delivery Management, Order Management, Billing, and Stock & Inventory Management; Component - Hardware, Software Platform, and Support Services) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2026."
Global POS restaurant management systems market has been segmented into:
- Mobile POS Terminal
- Fixed POS Terminal
- Delivery Management
- Order Management
- Stock & Inventory Management
- Software Platform
- Support Services
- End User
- Full-Service Restaurant
- Quick-Service Restaurant
- North America
o Rest Of Europe
- Asia Pacific excluding Japan
o Rest Of Asia Pacific
- Latin America
o Rest of South America
- Middle East & Africa (MEA)
o South Africa
o Rest of MEA
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SOURCE Transparency Market Research