Press Release / Technology / Restaurant POS Terminals Market Research Report 2024 - by Type, By Application, By Technology

Restaurant POS Terminals Market Research Report 2024 - by Type, By Application, By Technology

Technological advancements and rising adoption of advanced payment technologies across the restaurant sector is driving the restaurant point of sale terminals market size. The restaurant outlets are dependent on the technologies that will enhance their business operations with minimum operational and installation costs. The mobile solutions are the perfect technologies catering to such requirements. Several developers in the restaurant POS terminals market are engaged in developing solutions to provide effective tableside technologies to FSRs. For instance, TouchBistro is offering POS solutions that allow the staff to fulfill the customers’ orders accurately and faster while upselling high-margin menu items and using pop-up modifiers for suggestive selling. The solutions help restaurants in serving their customers at tableside or counters. Similarly, Toast, Inc. is offering Toast Go handheld POS system, which is designed specifically for the industry.

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Moreover, the restaurant point of sale terminals market players are engaged in developing software solutions that can be incorporated into the payment terminals to support several business processes such as accounting & book-keeping, daily sales tracks order management, managing staff accounts, etc. The software base installed in these integrated systems helps to control, manage, and operate the hardware components and other peripheral devices. The players offer these modern solutions to their customers to improve business operations and enhance the customer dining experience. For example, in April 2018, ParTech, Inc. introduced PAR Pay solution that provides an effective payment platform to restaurant outlets.

The cafes & bistros are experiencing a significant growth in the restaurant (point of sale) POS terminals market. Increasing young customers in these food outlets are driving the businesses of these cafes. These food stalls offer an ambient environment and seating facilities that allow the young crowd to spend time quality time. Such factors are encouraging the café owners to implement modern solutions that will attract more customers. The major franchised cafés such as Café Coffee Day and Starbucks have adopted fixed countertop solutions due to their self-service business process, allowing customers to order and pay their restaurant bills at the counter.

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Fixed systems are the most widely adopted POS technologies in the market owing to the integrated technology that includes several peripherals such as barcode scanner, RFID or card reader, POS printer, cash drawer, etc. Such integrated solutions are witnessing a high adoption in FSRs and QSRs due to the high prices of these systems and requirements of the large floor space for installing such systems. These terminals offer a complete system to food outlets that can be installed to handle or manage inventory, sales, orders, and customer profile with the use of a single system. Increasing adoption of these integrated systems in fast food outlets to serve customers and manage their orders effectively is predicted to drive restaurant point of sale terminals market growth.

The North America restaurant (point of sale) POS terminals market is predicted to witness a high growth due to the increasing number of food outlets. Countries including the U.S. and Canada are experiencing an increased number of food outlets to cater to a high consumption rate of the fast food items among the citizens. According to the National Restaurant Association, it was estimated that in 2017, there were around 1 million restaurant locations in the country. These outlets are adopting advanced technological solutions to offer flexible payment solutions to their customers, providing an impetus to the restaurant POS terminals market.
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Major companies participating in the market include Toshiba Corporation, VeriFone Systems, Inc., TouchBistro, Inc., Toast, Inc., Square, Inc., PAX Technology, Samsung Electronics Co., Ltd., Panasonic Corporation, PAR Technology Corporation, NCR Corporation, NEC Corporation, Micros Systems, Inc., Ingenico Group, and Diebold Nixdorf, among others. These players are competing in the restaurant POS terminals market by expanding their business operations globally and developing innovative solutions that are incorporated with advanced technologies such as EMV and NFC.

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