Restaurant POS Terminal Market Revenue to Reach $25bn by 2024

Global Market Insights, Inc.

SELBYVILLE, Delaware, January 14, 2019 /PRNewswire/ --

The restaurant point of sale terminal market shipments are expected to witness more than 15% growth rate to surpass 20 million units by 2024, according to a 2019 Global Market Insights, Inc. report. Technological advancements and rising adoption of advanced payment technologies across the restaurant sector is driving the restaurant point of sale (POS) terminal market size.

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The restaurant outlets are dependent on the technologies that will enhance their business operations with minimum operational and installation costs. The mobile solutions are the perfect technologies catering to such requirements. Several developers in the restaurant point of sale terminals market are engaged in developing solutions to provide effective tableside technologies to FSRs.

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Moreover, the restaurant point of sale terminal market players are engaged in developing software solutions that can be incorporated into the payment terminals to support several business processes such as accounting & book-keeping, daily sales tracks order management, managing staff accounts, etc. The software base installed in these integrated systems helps to control, manage, and operate the hardware components and other peripheral devices. The players offer these modern solutions to their customers to improve business operations and enhance the customer dining experience.

The cafes & bistros are experiencing a significant growth in the restaurant point of sale (POS) terminal market. Increasing young customers in these food outlets are driving the businesses of these cafes. These food stalls offer an ambient environment and seating facilities that allow the young crowd to spend time quality time. Such factors are encouraging the café owners to implement modern solutions that will attract more customers.

The major franchised cafés such as Café Coffee Day and Starbucks have adopted fixed countertop solutions due to their self-service business process, allowing customers to order and pay their restaurant bills at the counter. However, small cafes operating in specific areas and catering to a smaller customer crowd are moving toward mobile solutions due to the price sensitivity and maintenance costs associated with fixed solutions. Several players in the restaurant point of sale terminal market, such as Shopify, are introducing software solutions specifically developed for these coffee shops.