Food and Beverages

Restaurant Point of Sale Terminal Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : January 2024

Format :Pdf Ppt Xls

Report ID:KR285

Author : Saket A.

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Base Year

2022

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Forecast Year

2023-2030

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Historical Years

2018-2021

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Market Value (2022)

USD 20.01 Billion

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Forecasted Value (2030)

USD 37.03 Billion

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CAGR (2023 – 2030)

8.0%

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Fastest Growing Region (2023 - 2030

Asia Pacific

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Largest Region

Asia Pacific

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By Type

Fixed, Mobile/Portable

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By End-User

FSR (Full-Service Restaurant), QSR (Quick Service Restaurant), Institutional FSR

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By Component

Hardware, Software

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By Deployment Mode

On-Premise, Cloud


Market Perspective

The global Restaurant Point of Sale Terminal Market was valued at USD 20.01 billion in 2022 and is projected to reach USD 37.03 billion by 2030, growing at a CAGR of 8.0% from 2023 to 2030.

The restaurant point of sale (POS) terminal market refers to the market for computerized systems used in restaurants, hotels, and other hospitality establishments to manage sales, labor, payroll, and generate records for accounting and bookkeeping purposes. POS terminals have revolutionized the restaurant industry by streamlining operations and improving customer service.

POS systems in restaurants often consist of registers, computers, and peripheral equipment connected to a network. In modern technologies, registers are computers with touch screens, connected to a server known as a store controller or central control unit. The network may include printers and monitors, and remote servers can access store networks to monitor sales and other data.

The market for restaurant POS terminals is primarily driven by several factors such as the need for efficient transaction processing, improved operational efficiency, and enhanced customer experience. Furthermore, key factors contributing to market growth include the increasing emphasis on consumer engagement, the rise of online food delivery services, and the adoption of cloud-based POS solutions.

Analyst’s Review on Restaurant Point of Sale Terminal Market

The restaurant point of sale terminal market is experiencing significant growth globally due to an increasing number of restaurants, which is ultimately driving the demand for point of sale (POS) terminals. As the restaurant industry expands, there is a need for efficient and streamlined payment processing systems. There is a growing trend of people preferring to eat out or order food from restaurants. This shift in consumer behavior is boosting the demand for POS terminals to handle transactions and manage orders effectively.

Additionally, advances in POS terminal technology, such as cloud-based systems, mobile POS, and contactless payments, offer lucrative opportunities for market growth. These innovations enhance convenience, security, and flexibility for both restaurants and customers.

Market Definition

A restaurant point of sale (POS) terminal is a hardware and software system used by restaurants to process transactions, manage orders, and perform various other operational functions. It is a central point where customers make payments for goods or services, and where sales data is collected and recorded. The POS terminal typically consists of a computer or tablet device, along with peripherals such as cash registers, barcode scanners, receipt printers, and card readers. The POS software installed on the terminal facilitates tasks such as order taking, billing, inventory management, and sales reporting.

The primary purpose of a restaurant POS terminal is to streamline operations, improve efficiency, and enhance the overall customer experience. It allows restaurant staff to quickly and accurately process orders, accept various forms of payment (such as credit cards, debit cards, and mobile payments), and generate receipts for customers.

Additionally, modern POS systems often provide advanced features such as table management, online ordering integration, loyalty programs, and analytics. These features enable restaurant owners and managers to better manage their business, make data-driven decisions, and provide personalized services to their customers.

Moreover, a restaurant point of sale terminal is a comprehensive system that combines hardware and software to facilitate payment processing, order management, and other operational tasks in a restaurant setting. It plays a crucial role in improving operational efficiency and enhancing the overall dining experience for customers.

Market Dynamics

The enhanced customer experience is expected to drive restaurant point of sale terminal market growth. POS systems can facilitate better customer service through quicker order processing, table management, and personalized promotions, enhancing the overall dining experience. Furthermore, POS systems can track customer preferences and order history, allowing restaurant staff to provide personalized recommendations and ensure accurate and efficient service. With the ability to process payments quickly and securely, POS systems reduce waiting times for customers, resulting in a more seamless and enjoyable dining experience. Additionally, these systems enable restaurants to easily manage inventory and track sales, ensuring that popular items are always available and reducing the likelihood of disappointments for customers.

As POS systems handle sensitive customer data and payments, they are prime targets for cyberattacks. Ensuring robust cybersecurity measures is an ongoing challenge. Cybercriminals are constantly evolving their tactics, making it crucial for businesses to stay updated with the latest security protocols. Implementing measures such as encryption, two-factor authentication, and regular system updates can help mitigate the risk of data breaches. Additionally, providing comprehensive employee training on cybersecurity best practices is essential in creating a strong defense against potential cyberattacks.

Segmentation Analysis

The global restaurant point of sale terminal market is segmented based on type, end-user, component, deployment mode, and geography.

Based on type, the fixed segment dominated the restaurant point of sale terminal market in 2022 due to its reliable presence across the globe. The fixed segment continues to dominate the market due to its stable infrastructure and proven track record in the restaurant industry. These terminals are widely adopted by both small and large establishments, offering seamless integration with other systems such as inventory management and customer relationship management.

By deployment mode, the on premise segment accounted for the highest revenue share in the restaurant point of sale terminal market in 2022. This can be attributed to the fact that many restaurants prefer to have full control and ownership over their POS systems, as well as the ability to customize them to their specific needs. Additionally, on premise POS terminals provide a more secure and stable environment for handling sensitive customer data, which is crucial in the restaurant industry. Furthermore, the on premise deployment mode offers faster processing speeds and greater reliability, ensuring smooth and efficient operations during peak hours.

Based on Component, the hardware segment accounted for a significant share in 2022. This can be attributed to the increased adoption of advanced hardware components such as touchscreens, barcode scanners, and printers. These components are essential for efficient order processing, inventory management, and receipt printing. Additionally, the hardware segment is expected to continue its dominance in the coming years due to the constant need for technological upgrades and replacements in the restaurant industry.

Geographical Analysis

Based on region, the global restaurant point of sale terminal market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

Due to a number of factors, the Asia Pacific region has continued to be the largest market for restaurant POS terminals. The surge in demand for dining out is fueled by a large population, rapid urbanization, and a growing middle-class population with increasing disposable incomes in the region. Moreover, the Asia Pacific region has recently seen tremendous economic growth, which has led to a booming hospitality sector. As businesses work to improve their operational efficiency and streamline their payment procedures, this has created a favorable atmosphere for the adoption of restaurant POS terminals. The demand for POS terminals in the region has been further boosted by technological advancement and the growing popularity of online meal delivery services, making it a lucrative market for several companies.

Whereas, surge in contactless payment in Europe is expected to contribute significantly to the market growth. This is primarily driven by the increasing adoption of mobile payment technologies and the shift towards a cashless society. With the convenience and security offered by contactless payments, consumers are embracing this payment method for various transactions, including retail purchases, public transportation fares, and even small everyday expenses. As more merchants and businesses across Europe adapt to this trend, the rise in contactless payments is set to continue its remarkable growth trajectory in the coming years.

Competitive Landscape

The global restaurant point of sale terminal market report will provide valuable insight with an emphasis on the fragmented nature of the global industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. The major players in the global restaurant point of sale terminal market are

  • Ingenico Group
  • Verifone Systems Inc.
  • Revel Systems
  • Aireus Inc.
  • Dinerware Inc.
  • Harbortouch Payments LLC
  • Lightspeed Management Company
  • Squirrel System
  • PAX Technology Limited
  • NCR Corporation

Key Developments

  • April 2023 (Product Innovation) - Ingenico, a globally renowned provider of payment acceptance solutions, launched a cutting-edge mobile application known as AXIUM Payment Experience (APEX). This innovative app was aimed to alleviate the burden on businesses by eliminating the need for them to create and design their own customized payment applications.
  • August 2023 (Partnership) - Snack POS, a manufacturer of point-of-sale (POS) systems for eateries, partnered with PAX to make EMV-capable terminals available to restaurants starting in 2023.

The global Restaurant Point of Sale Terminal Market is segmented as:

By Type

  • Fixed
  • Mobile/Portable

By End-User

  • FSR (Full-Service Restaurant)
  • QSR (Quick Service Restaurant)
  • Institutional FSR

By Component

  • Hardware
  • Software

By Deployment Mode

  • On-Premise
  • Cloud

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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Frequently Asked Questions (FAQ's)
The global restaurant point of sale terminal market is projected to reach USD 37.03 billion by 2030, growing at a CAGR of 8.0% from 2023 to 2030.
The global restaurant point of sale terminal market was valued at USD 20.0 billion in 2022.
The major driving factor for the market growth is the ongoing technological advancements, such as the introduction of cloud-based POS systems, mobile POS solutions, and integration with emerging technologies like AI and IOT, are driving the adoption of POS terminals in restaurants.
Top manufacturers of restaurant point of sale terminal market are Ingenico Group, PAX Technology Limited, Verifone Systems Inc., NCR Corporation, Revel Systems, Aireus Inc., Dinerware, Inc., Harbortouch Payments LLC, Lightspeed Management Company, Squirrel System, and others.
Asia-Pacific is the fastest growing region in the forecasted period (2023-2030).
By deployment mode, on premise segment will hold the maximum share in the restaurant point of sale terminal market in 2030.
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