Worldwide Restaurant POS Terminals Market to surpass $ 25 Bn by 2024

September 16, 2019


Worldwide restaurant POS terminals market is expected to exceed USD 25 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.
 

Manufacturers in the restaurant POS terminal market are focusing on offering application-based solutions with numerous features supporting restaurant operations. For instance, Lavu, Inc. offers application-based POS solutions for ice-cream shops, bars, pizza outlets, and food trucks. With the help of these application-based tools, staff members can manage sales, customer orders, and inventory through a single solution. It enables the companies to improve their productivity and sales without spending on multiple solutions, thereby propelling the demand for restaurant POS terminals.
 

The report claims that the increasing implementation of software tools at food outlets is presumed to drive the restaurant POS terminals market. With the support of these software programs, several hardware components including barcode scanners, cash drawers, card readers, etc., are being operated efficiently. Manufacturers are concentrating on providing customized solutions, which will further drive the market growth in the upcoming years.  
 

Based on product type, mobile POS terminals segment is projected to register momentous growth, owing to the increasing adoption of advanced technologies to offer enhanced customers services and satisfaction.  The solution extends various features such as tableside ordering & payment, customer engagement, order tracking, and crowd management.
 

Considering the application spectrum, the restaurant POS terminals market from QSR segment is estimated to witness significant growth over the forecast time frame, pertaining to expansion of fast-food outlets such as Pizza Hut, McDonald’s, and KFC among others. The solution is adopted in the form of integrated tabletop model allowing the customers to order and pay at the counter. This will improve the self-services, thereby fostering the segmental growth.
 

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In terms of regional landscape, North America restaurant POS terminal market is anticipated to experience rapid progress over the analysis period. Increasing population of Food-Away-From-Home individuals is leading to rise in number of food outlets in the United States and Canada. Growing incorporation of payment terminals by food outlets in the region will augment the market growth. Some of the key players operating in restaurant POS terminals market comprises of Micros Systems, Inc., PAR Technology Corporation, Samsung Electronics Co., Ltd., Panasonic Corporation,  Square, Inc., NCR Corporation, Toshiba Corporation, PAX Technology, NEC Corporation, Toast, Inc., TouchBistro, Inc., Ingenico Group, VeriFone Holdings, and Diebold Nixdorf among others.