Restaurant POS Terminals Market Size By Product (Fixed POS Terminals, Mobile POS Terminals), By Component (Hardware, Software, Services), By Application (FSR [Fine Dine, Casual Dine/Fast Casual], QSR, Bars & Pubs, Cafes & Bistros), COVID-19 Impact Analysi

Restaurant POS Terminals Market Size By Product (Fixed POS Terminals, Mobile POS Terminals), By Component (Hardware, Software, Services), By Application (FSR [Fine Dine, Casual Dine/Fast Casual], QSR, Bars & Pubs, Cafes & Bistros), COVID-19 Impact Analysis, Regional Outlook, Price Trend Analysis, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

The global restaurant POS terminals market is anticipated to grow steadily through 2032 owing to the surging popularity of digital payments across the world.

To meet the evolving needs of the hotel industry, companies in the market are upgrading their product portfolios. The market participants are concentrating on releasing cutting-edge solutions in order to boost their positions and take a bigger market share. Important businesses are responding to shifting consumer preferences and providing feasible options for both small and large-scale eateries.

For instance, in June 2022, Openbravo unveiled a new quick-service POS system in order to meet the needs of QSR and quick restaurant companies. The system gives restaurants the ability to easily integrate with pantry systems, online buying solutions, and supply programs for order formulation and delivery. It also maintains a variety of payment and delivery alternatives.

The restaurant POS terminals market has been divided in terms of product, component, application, and region.

Based on component, the software segment was valued over 10% in 2022. The industry's expansion can be linked to large restaurants' increasing use of cloud-based POS software to boost profits. Additionally, there is an outgrowing demand for cloud restaurant POS software that makes it possible to handle inventory, staff information, and payment transactions.

With respect to application, the bars & pubs segment is poised to amass $5 billion in revenue by 2032. POS systems are being installed in bars and pubs to control the customer flow and orders. These bars use countertop designs that let patrons place orders and settle their bills at the counter. Moreover, the POS terminals also improve the owners' capacity to serve clients and complete orders quickly. It also enables them to provide individualized customer service and build a loyal consumer base.

From the regional perspective, the South America restaurant POS terminals market is set to witness sizable growth over the review timeline. The growth can be credited to a surge in strategic efforts by international players to enhance their corporate footprint in the area. This is also likely to fuel the growing establishment of cafés and bistros. The coffee shops are putting in permanent and integrated POS systems, which is anticipated to fuel the expansion of the restaurant POS terminals market. The rising usage of wireless POS terminals in the restaurant sector given the nation's widespread use of 3G and 4G networks, will in turn foster the regional growth over the upcoming years.