U.S. Restaurant Point Of Sale Solution Industry Overview
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.
U.S. Restaurant Point Of Sale Solution Market Segmentation
For this study, Grand View Research has segmented the U.S. restaurant POS solution market based on product, component, deployment, and end-user:
Based on the Product Insights, the market is segmented into Fixed POS and Mobile POS.
- The fixed POS terminal segment led the market with the largest revenue share of over 75% in 2020. A fixed POS terminal comprises devices such as a PC monitor, cash drawer, processing unit, barcode reader, pole display, printer, and keyboard among others. Large businesses in the need for continuous power supply, are complex infrastructure and high maintenance started opting for widely POS system to streamline the business function.
- The mobile POS terminal segment is expected to exhibit the highest CAGR over the forecast period. mPOS terminals offer low cost of installation and mobility, allow ease of payment during busy hours, help avoid loss of sales due to delays, and help improve customer satisfaction. Sale and payment transactions can be carried out at any part of a store or in the field using mPOS terminals, which are expected to be the key driving force for mobile and wireless terminals.
Based on the Component Insights, the market is segmented into Hardware, Software and Services.
- In 2020, the hardware component segment accounted for the highest market share of more than 50% and is expected to exhibit a significant CAGR over the forecast period. Hardware components of a restaurant POS system are available in silos as well as an individual system. An all-in-one POS system is more preferred by vendors to avoid computability issues arising from integrating different systems.
- The promising growth prospects of the software segment can be attributed to the growing demand for POS devices requiring tailor-made solutions according to industry functions. Moreover, cloud computing technology advancements have triggered an increase in the usage of Software-as-a-Service (SaaS) platform-based POS systems. Cloud-based POS software are capable of integrating screen terminals and barcode scanners across POS systems and further provides data restoring and backup features. Software services include timely upgrades while the hardware requires maintenance and repair services.
Based on the Deployment Insights, the market is segmented into Cloud and On-premises.
- The POS software deployment mode, on-premises for the U.S. restaurant industry, contributed the highest revenue share of more than 75% in 2020. The large restaurant chains running multiple stores opt for on-premises deployment to protect data within its firewall and access POs system without relying on completely on internet connectivity.
- Small and medium size restaurants prefer cloud deployment mode as it helps them leverage Software as a Service (SaaS) capability on the existing infrastructure including smartphones, personal computers, and tablets. The rapid adoption of cloud-based POS solutions is favored due to low installation cost and high RoI.
Based on the End User Insights, the market is segmented into FSR, QSR, Institutional, Others.
- The FSR segment held the largest revenue share of more than 35% in 2020. The FSR segment is further bifurcated into fast dine and casual dine. Technology is reshaping the way restaurants manage activities such as payment processing, taking orders, inventory management, and customer engagement.
- The QSR segment is expected to exhibit highest the CAGR over the forecast period. POS systems for QSRs act as a central communication hub for restaurants that offer services via drive-thru or serve on-the-go food. These terminals record online or in-person orders for the kitchen, process payment, create sales analysis reports, and track sales and employee working hours. The availability of an increasing number of systems with all these functionalities to run a small or large QSR is driving the market growth.
Key Companies Profile & Market Share Insights
The prominent vendors in the U.S. market partner with payment providers, application integrators, or distributors to increase their revenue and improve payment facilities.
Some of the prominent players operating in the U.S. restaurant point of sale solution market include,
- Ingenico (acquired by Worldline)
- PAX Technology
- Clover Network Inc.
- Lightspeed
- Square Inc.
- TouchBistro
- Toast, Inc.
- Helcim Inc.
- Revel System
- Bepoz America LLC
- Oracle
Order a free sample PDF of the U.S. Restaurant Point Of Sale Solution Market Intelligence Study, published by Grand View Research.
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