Mark Twain's blog : Restaurant Point-of-Sale Terminal Market – Global Opportunities & Forecast, 2021-2028
Global Restaurant
Point-of-Sale Terminal Market
The global Restaurant
Point-of-Sale Terminal Market is expected to experience annual growth of
6.4% over the analysis period. The increasing number of dine-in restaurants and
nightclubs and the incorporation of CRM software in the POS system have
strengthened the market growth.
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Restaurant
Point-of-Sale Terminal Market Dynamics
Restaurant point-of-sale terminal includes installation of
constant or mobile POS systems to minimize the time required to register sales
and generate daily tax returns. Moreover, the management of POS systems of
customer relationship management (CRM) software accumulates information about
customers automatically to generate recurrent updates and sales reports in the
restaurants. The rapid switch of traditional business towards digitalized one
has raised the trend of online food ordering, which is a crucial force
contributing to the growth of the global restaurant point-of-sale terminal
market. The surge in online sales through different platforms such as Uber
Eats, Zomato, Swiggy, Delieroo, and Grubhud to decrease the third-party
commission has strengthened the overall market growth. For instance, Grubhub,
the leading market player, experienced a rise in revenue of nearly $ 39%,
touching $1.8 billion for the year 2020. The point-of-sale restaurant terminal
is used across the restaurant to trace food inventory, sales, cash flow and
streamline bookkeeping enormously. However, the absence of the business
restaurant industry due to the temporary halt across various countries has
restrained the market growth. In addition, the PoS terminals have the issue of
connection dependability and need a stable internet connection that may curb
market growth.
End-User
Drivers
Based on the end-user, the full-service restaurant (FSR)
segment is projected to lead the largest share in the global restaurant
point-of-sale terminal market over the forecast period. This is due to the
accelerating expenditure by consumers, altering urban lifestyles, as well as
the increasing espousal of digital technology in these restaurants.
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