SAN FRANCISCO, Feb. 23, 2023 /PRNewswire/ — The global restaurant point of sale terminal market size is expected to reach USD 38.16 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 8.0% from 2023 to 2030. The need to accelerate inventory tracking, multiple payment options, quick service, automated analysis, centralized recipe, menu management, and Customer Relationship Management (CRM) is enhancing the demand in the restaurant Point-of-Sale (POS) terminal industry.
Key Industry Insights & Findings from the report:
- POS demand in QSRs is expected to witness modest growth exceeding 8.5% CAGR over the forecast period. This demand is attributed to the rise in the number of small and large QSRs worldwide, a trend expected to continue amidst the pandemic.
- The swipe card machine segment is expected to account for approximately USD 8,142.0 million by 2030. The need to provide secure and quick cashless payment options to customers is expected to contribute to the segment’s growth. Moreover, social distancing during the pandemic is expected to boost demand for cashless payment options using POS terminals.
- Asia Pacific is anticipated to expand at 9.9% CAGR over the forecast period. Increasing usage of credit/debit cards as a payment option along with a rise in the number of quick-service restaurants is expected to favor regional demand over the next few years. The POS industry is anticipated to capitalize on the opportunities in countries including Japan, South Korea, India, and Vietnam.
- The key players include Ingenico Group (acquired by Worldline); PAX Technology Ltd.; Verifone Systems Inc.; NCR Corp.; EposNow; Harbortouch Payments, Aireus Inc.; Aireus Inc; Dinerware, Inc.; Posist; LLC; LimeTray; POSsible POS; Posera, ShopKeep (acquired by LightSpeed); Toshiba Corp.; Upserve, Inc.; and TouchBistro
Read 153-page market research report, “Restaurant Point Of Sale Terminal Market Size, Share & Trends Analysis Report By Product (Fixed & Mobile), By Component, By Deployment, By Application, By End-user, By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Restaurant Point Of Sale Terminal Market Growth & Trends
The COVID-19 pandemic decelerated the market growth owing to the closed restaurant operations while only the online order system was in-service. The restaurant sector started its recovery in 2021 and POS vendors have adopted new approaches to introduce beneficial features for creating the recovery roadmap for restaurants.
Restaurants, bars, and food service providers rely highly on POS technology to track sales, products, operations, and inventory. Touchscreen ordering technology is ideal to ensure precise procurement of customer orders. The POS technology tends to account for the largest portion of the restaurants’ IT budgets and investments, as it serves as an important tool to track sales. Large restaurants including nightclubs, dining restaurants, hotels, cafes, breweries, pubs, wineries, and casinos have high-priced menus, and customers prefer card payment in such a scenario. Therefore, the menu price and size of the restaurants act as a stimulus to augment the demand for restaurant POS terminals.
Restaurants’ POS terminals for back-end and front-end operations can be deployed separately to segregate the workload and keep administrative task management at the back-end. This also helps in securing sensitive business information and in control of the management to avoid a data breach. Furthermore, the rise in the number of Full-Service Restaurants (FSRs) and Quick Service Restaurants (QSRs) in major cities across the world is promoting the adoption of restaurant POS terminals.
Moreover, the new demand is being generated for POS terminals as some of the largest QSR vendors such as Starbucks, Dunkin’ Donuts, Pizza Hut, McDonald’s, Wendy’s, Subway, KFC, and Burger King are expanding their business and opening new outlets across the world. The restaurant POS terminal streamlines everyday operations for these large QSRs that need to keep their inventory loaded due to the rising number of customers consuming fast foods. Hence, the POS system deployment benefits QSRs by facilitating quick order placement and payment processing while also supporting similar services for online orders. For instance, the PNC Financial Services Group, Inc. acquired Linga a point-of-sale payments solutions firm that provides cloud-based restaurant operating solutions. Through this acquisition, both firms aim to expand corporate payment facilities as well as investment solutions.
Restaurant Point Of Sale Terminal Market Segmentation
Grand View Research has segmented the global restaurant point-of-sale terminal market based on product, component, deployment, application, end-user, and region
Restaurant POS Terminal Market – Product Outlook (Revenue, USD Million, 2018 – 2030)
- Self-serve Kiosks
- Cash Counters Terminal
- Vending Machine
Restaurant POS Terminal Market – Component Outlook (Revenue, USD Million, 2018 – 2030)
- Swipe Card Machine
- Touch Screen/Desktop
Restaurant POS Terminal Market – Deployment Outlook (Revenue, USD Million, 2018 – 2030)
Restaurant POS Terminal Market – Application Outlook (Revenue, USD Million, 2018 – 2030)
Restaurant POS Terminal Market – End-user Outlook (Revenue, USD Million, 2018 – 2030)
- Full-Service Restaurant (FSR)
- Fine Dine
- Casual Dine
- Quick Service Restaurant (QSR)
Restaurant POS Terminal Market – Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
List of Key Players in the Restaurant Point Of Sale Terminal Market
- PAX Technology Limited
- Verifone Systems Inc.
- NCR Corporation
- Revel Systems
- Aireus Inc.
- Dinerware, Inc.
- POSsible POS
- Oracle Corporation
- ShopKeep (acquired by LightSpeed)
- Squirrel Systems
- Upserve, Inc.
Check out more related studies published by Grand View Research:
- U.S. Restaurant Point Of Sale Solution Market – The U.S. restaurant point of sale solution market size is expected to reach USD 4.74 billion by 2028, expanding at a CAGR of 3.9% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The rising demand for digital solutions for effectively managing restaurant business operations such as tracking employee attendance, inventory, online food order delivery status, and recording orders and sales is expected to drive the market growth.
- Mobile Point-Of-Sale Systems Market – The global mobile POS terminals market size is expected to reach USD 85.11 billion by 2030, expanding at a CAGR of 11.1% from 2023 to 2030 according to a new study by Grand View Research, Inc. Mobile POS terminals have evolved from basic payment processing tools to advanced analytics solution providers with greater processing capability and wireless communication support. The inflection of these terminals came with the adoption of consumer-grade devices such as tablets for business use. Ubiquitous wireless connectivity such as Bluetooth, availability of mobile printers, scanners, card readers, and peripheral devices; and multiple platform support have driven the mobile POS terminals market in various applications.
- U.K. Point Of Sale Software Market – The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies.
- Global Point-of-Sale Terminal Market – The global point-of-sale terminal market size is expected to reach USD 181.5 billion by 2030, registering a CAGR of 8.3% over the forecast period, according to a new study by Grand View Research Inc. Increasing demand for Point-of-Sale (POS) terminals from various end-use industries, an increase of modern drive-thru, and rising preference for affordable wireless technologies is anticipated to be among the significant factors driving the industry growth over the forecast period.
- Point-of-Sale Software Market – The global point-of-sale software market size is expected to reach USD 27.71 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.8% over the forecast period. The industry is expected to witness substantial growth owing to the need for compatible software for POS system functioning.
Browse through Grand View Research’s Electronic Devices Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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