The global restaurant point of sale terminals market size is expected to reach USD 25.1 billion by 2027, expanding at a CAGR of 6.8% over the forecast period, according to a new report by Grand View Research, Inc. According to the National Restaurant Association (U.S.), the higher preference for self-serving ordering kiosk by the customers is anticipated to be the key factor which will strengthen the business growth opportunity for the restaurant owners. It has been observed that the use of portable POS devices has been highly beneficial for the owners as they can be easily integrated and contribute towards improving operational efficiency. As the use of mobile POS systems empower the owners in establishing closer monitoring of their operations, irrespective of the location. Such benefits offered owing to the technological development in the POS terminals industry is expected to drive the market over the forecast period.
Restaurants' POS system not only takes care of front-end operation but also helps in maintaining the back-end operation such as inventory, employee management, reservation, and queue management. Moreover, an increasing number of Quick Service Restaurant (QSR) and Full-Service Restaurant (FSR) in major cities across the world is boosting. Some of the largest QSR expanding its reach and benefiting from the installation of terminal are McDonald's, Wendy's, Subway, Starbucks, Pizza Hut, Dunkin' Donuts, KFC, and Burger King. These large chains of eating houses need to streamline their everyday operation to avoid running out of stock and keep up with the increasing demand and rising number of customers at their outlets. Hence, the system helps by speeding up the ordering and payment processing while also facilitating the same service for online orders.
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Restaurant POS Terminals Market Report Highlights
• The QSR segment is anticipated to witness the highest growth over the forecast period owing to the increasing number of QSRs and ease of managing operations to ensure quick deliveries of orders
• Revenue from the swipe card machine segment is expected to reach approximately USD 5.2 billion by 2027. The growth of the swipe card machine segment is attributed to the need for facilitating quick cashless payment using debit or credit cards
• The Asia Pacific region is expected to witness the highest CAGR of 8.6% over the forecast period, owing to the increasing use of card payment and rising number of fine dine and quick service restaurants across India, Japan, Vietnam, Indonesia, and South Korea
• Some of the key players present in the restaurant POS terminal market are Ingenico Group; PAX Technology Ltd.; Verifone Systems Inc.; NCR Corp.; Revel Systems; Aireus Inc.; Aireus Inc; Dinerware, Inc.; Posist; EposNow; Harbortouch Payments, LLC; LimeTray; POSsible POS; Oracle Corporation; Posera, ShopKeep; Squirrel Systems; Toshiba Corp.; TouchBistro; and Upserve, Inc.
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Restaurant POS Terminals Market Segmentation
Grand View Research has segmented the global restaurant POS terminal market on the basis of product, component, deployment, application, end user, and region.
Restaurant POS Terminals Product Outlook (Revenue, USD Million, 2016 - 2027)
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Fixed
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Self-serve Kiosks
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Cash Counters Terminal
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Vending Machine
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Mobile
Restaurant POS Terminals Component Outlook (Revenue, USD Million, 2016 - 2027)
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Hardware
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Swipe Card Machine
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Touch Screen/Desktop
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Others
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Software
Restaurant POS Terminals Deployment Outlook (Revenue, USD Million, 2016 - 2027)
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Cloud
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On-Premise
Restaurant POS Terminals Application Outlook (Revenue, USD Million, 2016 - 2027)
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Front-End
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Back-End
Restaurant POS Terminals End-user Outlook (Revenue, USD Million, 2016 - 2027)
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Full-Service Restaurant (FSR)
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Fine Dine
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Casual Dine
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Quick Service Restaurant (QSR)
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Institutional
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Others
Restaurant POS Terminals Regional Outlook (Revenue, USD Million, 2016 - 2027)
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North America
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U.S.
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Canada
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Europe
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U.K.
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Germany
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France
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Asia Pacific
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China
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India
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Japan
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Latin America
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Brazil
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Mexico
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Middle East & Africa (MEA)
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About Grand View Research
Grand View Research is a market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services to clients across a number of industries, including healthcare, materials, chemicals, energy, technology, and food and beverage, among others.
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