Global POS Software for Food and Drink Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global POS Software for Food and Drink Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Point-of-sale software is a tool used by physical stores to sell in person. Sometimes it is a cash register, a computer, or even a tablet, where the cashier enters the product, calculates the cost, and conducts financial transactions. There are two main types of POS software: On-premise and cloud-based software. Cloud-based POS software is becoming more and more popular.

Market Overview:

The latest research study on the global POS Software for Food and Drink market finds that the global POS Software for Food and Drink market reached a value of USD 990.75 million in 2022. It’s expected that the market will achieve USD 1837.62 million by 2028, exhibiting a CAGR of 10.84% during the forecast period.

Influence of COVID-19 Outbreak on POS Software for Food and Drink Industry Development

The new coronavirus not only threatens the lives of people all over the world, causing social anxiety and pessimism, but also affects the global industrial chain. Pessimists predict that the world economy will never go back. This conclusion has a certain basis. Since the outbreak of the epidemic, the number of confirmed cases has been increasing, and transactions and normal business activities have been forced to stall. The catering industry has been severely hit, and this impact has spread along the value chain, which has also brought adverse effects to the industry. According to a blog post by Toast CEO Chris Comparato, Toast reduced its workforce by 50% through layoffs and vacations. It also lowered executive salaries, froze hiring, suspended bonuses and withdrew offers. In a blog post, Comparato cited how restaurant revenue was hit hard in March and affected Toast's operations. Before the pandemic broke out, Toast's revenue grew 109% in 2019.

The impact of the epidemic on the POS software industry will depend on the development of the epidemic. But a clear turning point has not yet arrived, and economic losses have already been caused. Judging from the current situation, the negative impact is likely to exceed the positive impact, and the epidemic may drag down the growth rate of the industry.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

NCR is one of the major players operating in the POS Software for Food and Drink market, holding a share of 9.79% in 2020.

NCR is a POS software provider in the retail and hotel industry, as well as a provider of ATM software. The software, hardware and services they create can provide enterprises with the entire operation process from the back-end to the front-end.

NCR is headquartered in downtown Atlanta, Georgia, with more than 34,000 employees in 160 countries/regions, and solutions in 141 countries/regions.

Toast, Inc. is a cloud-based restaurant software company. The company designed and developed a sales and management software system that can help restaurants improve operations, increase sales, and create a better guest experience. Toast serves customers worldwide.

Segmentation Overview:

Among different product types, Cloud based segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the FSR (Full Service Restaurant) segment occupied the biggest share from 2018 to 2022.

Key Companies in the global POS Software for Food and Drink market covered in Chapter 3:

ShopKeep
Focus POS
SilverWare POS
Revel Systems
Oracle Hospitality
AccuPOS
SoftTouch
Toast POS
Heartland Payment Systems
PAR (Brink POS and PixelPoint)
Square
Clover Network, Inc.
Shift4 Payments
NCR
TouchBistro

In Chapter 4 and Chapter 14.2, on the basis of types, the POS Software for Food and Drink market from 2018 to 2029 is primarily split into:

On-premise
Cloud based

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the POS Software for Food and Drink market from 2018 to 2029 covers:

FSR (Full Service Restaurant)
QSR (Quick Service Restaurant)
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)