Global
Restaurant Management Software Market is anticipated to reach USD 6.94 billion
by 2025. It is anticipated to grow at a healthy rate in the years to come. The
restaurant management software industry is expected to observe considerable
growth over the forecast period. Technology disruption in the restaurant
industry and rising requirement for restaurant specific software such as
payment and billing processing, table management, menu management and inventory
management, are amongst the important trends stimulating market development.
Restaurant
management software market is anticipated to grow at a significant CAGR of
14.6% in the upcoming period as the scope, product types, and its applications
are increasing across the globe. It may be explored by software, deployment,
end user, and geography. The market may be explored by software as Accounting
& Cash Flow, Front End Software, Purchasing & Inventory Management,
Employee Payroll & Scheduling, Table & Delivery management, and others.
In 2016, “front-end software” dominated the restaurant management software
industry.
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Front
end software solutions such as POS permit them to effortlessly accomplish
payment and order processing. Surging demand for software solutions such as
customer management, inventory management, recipe management, free accounting,
kitchen order taking, along with POS solutions, is contributing to the
development of the market. Restaurant management software market may be
explored by deployment as Cloud, and on premise. In 2016, “On-premise”
dominated the market due to increasing security concerns and ability to control
ownership of data. The “On-premise” is followed by “cloud” segment and
anticipated to grow at the highest CAGR in the years to come.
The
market may be explored by end user outlook as FSR (Full Service Restaurant);
may be analyzed as Casual Dine, Fine Dine, Institutional, QSR (Quick Service
Restaurant), and Others. The “full-service restaurants (FSR)” segment dominated
the restaurant management software industry and is estimated to grow at the
highest CAGR in the forecast period.
North
America accounted for the major share of the Restaurant Management Software
Market Size Analysis in 2016 and will continue to lead in the forecast period
due to food service suppliers in the region being initial adopters of restaurant
management software solutions such as menu management, table management,
kitchen management, recipe management, employee scheduling, and others.
However, Asia-Pacific region is estimated to grow at the highest CAGR in the
forthcoming period due to huge development in food service sector will upsurge
the market growth.
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Some of the key players that fuel the growth of the
restaurant management software industry include Verifone System, Ingenico
Group, Lavu, Ravel Systems POS, POSist Technologies Pvt. Ltd., EPOS now,
AccuPOS, TouchBistro, Clover, and PAX Technology.The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
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