Restaurant Management Software Market: Current Analysis and Forecast (2022-2028)

Restaurant Management Software Market: Current Analysis and Forecast (2022-2028)

Global Restaurant Management Software Market is expected to grow at a significant rate of around 16% during the forecast period. Restaurant management software is designed to be an end-to-end software solution to help users run their restaurants. In addition, the increasing acceptance of new restaurant service technologies and demand for quick service restaurant services are driving the growth of the global restaurant management software market. Moreover, the growing use of technology to manage operations in the restaurant sector is driving the global restaurant management software market. For instance, in July 2022, Toast ¬¬– the all-in-one digital technology platform built for restaurants, announced that it has acquired Sling, a leading employee scheduling, communication, and management solution. Moreover, features including scheduling templates, in-app messaging, and multi-location team management, Sling helps restaurant staff more efficiently and better manage labor costs and helps increase employee job satisfaction.

Clover Network, LLC, Personica (Fishbowl Inc.), HotSchedules (Fourth Enterprises LLC.), Jolt, NCR Corporation, OpenTable, Inc., Oracle Corporation, Revel Systems, Square Capital, LLC, TouchBistro are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst deployment, on-premise category to witness significant CAGR during the forecast period”

On the basis of deployment, the market is categorized into the cloud and on-premise. Among these, the on-premises to hold a significant share in the market in 2020. One of the major reasons driving the growth of the on-premises segment is the privacy and security facilities provided by on-premises it is beneficial for enterprises that wish to maintain the confidentiality of their data and secure the data from cyberattacks. However, on-premises POS platforms have some specific uses and contexts that some retailers prefer, although the trend indicates a continuing shift to cloud-based solutions.
"Amongst end user, the full-service restaurant (FSR) to hold a significant share in the market in 2020”

Based on end user, the restaurant management software market has been classified into full-service restaurants (FSR), quick service restaurants (QSR), institutional, and others. The full-service restaurant (FSR) category is to witness higher adoption of restaurant management software during the forecast period. Among these, the full-service restaurant (FSR) to hold a significant share in the market in 2020. In addition, FSRs have advanced technologies to improve table turn times and reduce labor costs, by which they can offer better customer service according to the demand of the customers.
"North America to hold a significant share in the market”

In 2020, North America held a significant share of the global restaurant management software market. This is mainly attributed to the rapid urbanization, rising disposable income, the well-organized character of the food service sector, and a high level of vendor market penetration all contribute to the regional industry's growth. Therefore, Vendors are launching innovative software solutions such as payroll, staff scheduling, and inventory management to carry out back-end operations professionally. Further, increasing digitalization and advances in smart technology, such as automated point-of-sale systems, wireless payment methods, and virtual reservation systems in the sub-continent, is to be blamed for the market expansion in the region throughout the projection period. According to Finical Holdings LLC, approximately 51% of American adults are now using at least one form of contactless payment.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.