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

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

A restaurant POS software is a point of sale system that processes the transactions that happen at a restaurant. 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 Restaurant POS Software market finds that the global Restaurant POS Software market reached a value of USD 1138.89 million in 2022. It’s expected that the market will achieve USD 2208.52 million by 2028, exhibiting a CAGR of 11.67% during the forecast period.

Market Driver Analysis

More and more people like card-based transactions, mobile POS payment users are on the rise in recent years, and more and more people use networked smart devices. These factors indirectly support the growth of Restaurant POS Software by promoting POS payment market. POS payment is helpful to improve customer's consumption experience, ensure efficient and accurate transactions, and save consumers' time, which is very popular among consumers.

With the increasingly fierce competition in the catering industry and the increasing number of fast food chain stores, people pay more and more attention to efficient supply chain and order quality. This led to the growth of Restaurant POS Software. Due to the demand for effective payment technology, Restaurant POS Software has been highly adopted in QSR, which makes it easy for customers to pay bills even without cash. QSR includes several fast food restaurants, such as KFC and Pizza Hut, which requires the payment system to perform sales tasks faster to reduce the number of customers on the counter.

Market Restraints Analysis

Cybercriminals target customer data through POS software, and steal customer information for profit. According to Verizon's 2019 Breach Investigation Report, point-of-sale (POS) intrusions, web applications and crimeware patterns accounted for 93% of all data breaches in accommodations and restaurants. Point-of-sale data leakage is a serious concern for companies. Although there is no clear law that POS providers are responsible for data breaches, some POS dealers have been sued for selling systems that do not comply with the PCI DSS standard. Customers will suffer huge losses due to cybercrime, and POS providers will suffer credibility as a result, resulting in loss of customers and reduced brand attractiveness.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

Aloha is one of the major players operating in the Restaurant POS Software market, holding a share of 17.06% in 2021.

NCR Corporation

NCR Corporation is a leader in banking and commerce solutions, powering incredible experiences that make life easier. With its software, hardware, and portfolio of services, NCR enables transactions across financial, retail, hospitality, travel, telecom and technology industries.

Square, Inc. revolutionized payments in 2009 with Square Reader, making it possible for anyone to accept card payments using a smartphone or tablet. Today, it builds tools to empower businesses and individuals to participate in the economy. Sellers use Square to reach buyers online and in-person, manage their business, and access financing. Restaurants use Caviar to offer diners delivery, group ordering, catering, and pickup. And individuals use Cash App to spend, send, and store money. Square has offices in the United States, Canada, Japan, Australia, Ireland, and the UK.

Segmentation Overview:

Among different product types, Cloud based segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the FSR (Full Service Restaurant) segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Restaurant POS Software market covered in Chapter 3:

Revel Systems
PAR (Brink POS and PixelPoint)
Aloha
TouchBistro Inc.
Heartland Payment Systems
Lightspeed
Upserve Inc
Oracle
HungerRush
Lavu
Square
Toast POS
CAKE POS

In Chapter 4 and Chapter 14.2, on the basis of types, the Restaurant POS Software 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 Restaurant POS Software 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)