 Terminals Market.PNG)
Restaurant Point-Of-Sale Terminals Market size is expected to reach USD 45 Billion by the end of 2036, growing at a CAGR of 9.5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of the restaurant point-of-sale terminals was USD 15 Billion and the growth is propelled by the increasing surge in the adoption of online orders using delivery services and apps in the past few years, and the COVID-19 pandemic has only increased the demand for such services. According to a report, food deliveries have increased to a worldwide market worth about 150 billion USD, which has more than tripled since 2017. In the U.S., this has doubled during the COVID-19 pandemic, which is following positive growth of about 8%.
Furthermore, there is a surge in demand for quick-service restaurants, also known as fast-food restaurants, which provide inexpensive, fast foods with minimal table service. The Quick-service restaurant (QSRs) heavily relies on point-of-sale (POS) terminals mainly for payment processing, order taking, data analysis, inventory management, and also for ensuring efficient and smooth restaurant management. According to a report by MediaRadar, the cloud-based sales enablement tool, is estimated to reach about 300 billion USD in 2021 from about 12% in 2020.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 9.5% |
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Base Year Market Size (2023) |
~ USD 15 Billion |
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Forecast Year Market Size (2036) |
~ USD 45 Billion |
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Regional Scope |
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Product type (Fixed, mobile)
Fixed POS is estimated to gain a robust market share of 54% in the coming years owing to a simple and beginner-friendly user experience, which helps to attract users and increase the newer and younger workforce. This also helps to reduce the cost of training, a significant challenge faced by several restaurant POS terminals market. According to a report, the turnover rate for restaurants was 72.9% nationally, while for the full-service restaurants by the end of 2017, according to their hourly staff turnover rate was about 102.8%.
Component (Hardware, Software, Services)
The Hardware segment in restaurant point-of-sale terminals market is set to garner a notable share shortly and is likely to remain the second largest segment in the component of the market as it enables the Point-of-Sale terminals to provide users with more personalized experiences, that can support several features such as targeted marketing, loyalty programs, along with tailored recommendations also. This can lead to increased customer satisfaction and engagement, as consumers feel more connected and valued by the business. This can act as a growth driver for the restaurant POS terminals market, as it can help to differentiate businesses and attract more customers.
Deployment (Cloud, on-premises)
The cloud-based segment in restaurant pos terminals market is estimated to hold a noteworthy share owing to the improved data protection and security for user data which is managed and stored by the software. The data is stored on secured and remote servers and can ensure greater privacy and security from data breaches and losses. According to a survey by Netwrix in March 2022, more than 720 IT professionals were surveyed all over the globe using online questionnaires, and about 80% of the organization's data is stored in cloud-based storage.
Our in-depth analysis of the global restaurant POS terminals market includes the following segments:
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Product Type |
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Component |
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Deployment |
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APAC Market Forecast
The restaurant point-of-sale terminals market in Asia Pacific is estimated to have the largest share of approximately 41% in 2023, impelled by the rise in digital payments and the prevalence of smart cards, mobile wallets, and online banking methods are contributing to the growth of POS terminals as they offer convenience and security for transactions. According to the World Bank two-thirds of adult populations worldwide make and receive a digital payment, with the total share in the developing economies that grew from 35% in 2014 to about 57% in 2021. While, in the developing economies, approximately 71% have an account at a bank, other financial institution, or with a mobile money provider, up from 63% in 2017 and 42% in 2011. Moreover, government initiatives promoting electronic payment methods are further encouraging the use of POS terminals in restaurants.
North American Market Statistics
The North American restaurant point-of-sale terminals market is estimated to be the second largest, during the forecast timeframe is led by the integration of several advanced technologies such as machine learning along with automation into POS terminals and is expected to further drive restaurant POS terminals market growth by enhancing operational efficiency and providing innovative solutions to restaurant owners.
 Terminals Market size.webp)
Author Credits: Abhishek Verma, Hetal Singh
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