New York, 4 April 2019: According to a
new study published by Polaris Market Research the worldwide Restaurant POS
Terminals market is anticipated to reach USD 30,966 million by 2026. In 2017,
the fixed POS terminal dominated the global market, in terms of revenue. North
America is expected to be the leading contributor to the global market revenue
during the forecast period.
The rising
number of cashless transactions and growing need for digital payments primarily
drive the growth of this market. POS solutions are increasingly being adopted
in the restaurant industry to increase productivity, reduce serving time, and
gain business insights. Availability of mobile devices at low costs also
supplements market growth. Other driving factors include increasing internet
penetration, growing transactions through ecommerce, and increasing
advancements in technologies.
Browse Research Report On Restaurant
Point-of-Sale (POS) Terminals Market Analysis:
https://www.polarismarketresearch.com/industry-analysis/restaurant-pos-terminals-market
There has been
an increasing adoption of mobile POS terminals in restaurants. Mobile POS
terminals are integrated with mobile devices such as smart phones and tablets,
which offer benefits such as reduced serving time, higher workforce efficiency,
while improve customer experience. The
integration of technologies such as smart card, RFID (Radio Frequency Identification),
VoIP (Voice Internet Protocol), and Wi-Fi, provides features such as sales
analytics, inventory management, employee management, invoice management, and
capture of electronic signatures.
The declining
prices of mobile devices, increasing demand for portable & wearable
devices, rising NFC-based transactions, and technological advancements further
supplement the growth of restaurant POS terminals. The rising adoption of
cloud-based and Android POS devices also boosts market growth. Breadcrumb POS
by UpServe is a cloud-based point of sale (POS) solution available in the
market aimed at enabling restaurants and bars to manage customer interaction. A
few features offered by the solution include tip adjustment, logbook, and
ability to spilt checks among others. This solution allows users to keep a
track of tables being served. Servers are provided with options of adding
modifiers, making notes, customizing menus, and taking orders. It also offers
an ‘UpServe Live’ feature, which enables users to track restaurant and bar
sales, sale of items in the restaurant, guest count, and weekly trends.
Small business
owners are investing in effective POS terminals to increase overall
profitability. BarTab is an on-premise point of sales solution available in the
market. This solution is especially developed for small to midsize businesses.
The features offered by this solution include stock management, cloud-based
till records, and sales analysis. BarTab maintains a record of till reports and
provides notifications upon variation. It also maintains a detailed report of
current stock levels and average weekly sales.
Users can track
orders and communicate with staff members for providing enhanced services to
customers. TouchBistro is a popular POS solution available in the market. It is
an iPad-based point of sale (POS) solution catering the needs of all kind of
restaurants. It offers food service specific features along with advanced
management capabilities. The solution offers mobility, which enables payment of
bills and order placement at the tables, thereby enhancing customer experience.
TouchBistro also offers capabilities to split-checks, print or email receipts.
North America
generated the highest revenue in the market in 2017, and is expected to lead
the global market throughout the forecast period. The high consumption of fast
food in North America boosts the restaurant industry in the region, thereby
increasing the need to simplify transactions and increase efficiency in
restaurants. The government in the region encourages consumers to adopt
EMV-enabled devices. These devices offer additional security and minimize
breaches and frauds in digital payments.
The different
types of POS terminals used in restaurants include fixed POS terminals and
mobile POS terminals. In 2017, fixed POS terminals accounted for higher market
share owing to cost efficiency and time effectiveness. Fixed POS terminals can
be easily connected to hardware like PCs and printers, and are ideal for use at
places with high transaction volume.
Mobile POS terminals are expected to grow at a higher CAGR during the
forecast period owing to owing to increasing demand for wireless technologies.
These solutions enable users to boost customer interaction by reducing waiting
time, and offering mobility services. The demand for mobile POS terminals has
increased in small restaurants, bars, and cafes owing to low costs associated
with them, and increasing use of mobile devices such as smartphones and tablets
for increasing efficiency.
Access press release of Restaurant
Point-of-Sale (POS) Terminals Market: https://www.polarismarketresearch.com/press-releases/global-restaurant-point-of-sale-pos-terminals-market
The various
end-users of restaurant POS terminals include fast food restaurants, casual
dining restaurants, fine dining restaurants, bars and pubs, and others. In
2017, fast food restaurants accounted for the largest share in the global
market, and are estimated to grow at a substantial rate during the forecast
period. The use POS terminals enable fast food restaurant to offer services in
short time periods and simplifying the process of taking orders, payments, and
customer management.
The well-known
companies profiled in the report include PAX Technology Limited, TouchBistro,
Verifone Systems, Inc., Oracle Corporation, LimesTray, Ingenico Group, Posist,
Posera, PoSsible POS, Aireus., Upserve, Inc., Revel Systems, and Squirrel
Systems among others. These companies launch new products and collaborate with
other market leaders to innovate and launch new products to meet the increasing
needs and requirements of consumers.
About Polaris Market Research
Polaris
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