WILMINGTON, DE, UNITED STATES, November 17, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Restaurant Management Software Market by Solution, Deployment End-Use Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031,”
The restaurant management software market was valued at $4,236.4 million in 2021, and is projected to reach $17,113.9 million by 2031, registering a CAGR of 15.3% from 2022 to 2031.
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Modern restaurant software systems combine the capabilities of a computer with a checkout counter in the restaurant business, enabling them to process credit card payments, generate receipts, visualize data on a user-friendly screen, and perform service station responsibilities. By replacing paper tickets in the kitchen at the back end, a centralized digital ordering system known as a kitchen display systems (KDS) helps streamline communication and efficiency in both front of the house (FOH) and back of the house (BOH) throughout most eatery establishments. Due to technological advancements, restaurant management software is being implemented in numerous eating & dining end-use sectors.
The global restaurant management software market share is expected to witness considerable growth, owing to increase in adoption in customized restaurant management software and growing application of seamless payment gateway, especially in North America, Europe and Asia-Pacific, has driven the growth of the market.
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Competitive Analysis:
The competitive environment of Restaurant Management Software Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Restaurant Management Software Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Key Players:
Clover Network, LLC
HotSchedules (Fourth Enterprises LLC.)
Jolt
NCR Corporation
OpenTable, Inc.
Oracle Corporation
Personica (Fishbowl Inc.)
Revel Systems, Inc.
Square Capital, LLC (Block, Inc.)
TouchBistro and Many More
North America holds significant global restaurant management software market share, owing to the presence of prime players in this region. The rising acceptance of quick service restaurant (QSR) services is expected to propel the growth of the restaurant management software industry in this region. Moreover, growing awareness of smart point-of-sale (POS) systems, hybrid deployment model and enhanced billing & invoice management use case request in North America is anticipated to drive the restaurant management software market trends in this region.
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The outbreak of the COVID-19 has significantly impacted the growth of the restaurant management software market. Rise in demand for restaurant-specific managing software and adoption of quick service restaurant (QSR) service has significantly propelled the demand for restaurant management software market during the pandemic.
However, increasing need for restaurant-specific software for invoicing and payment handling and resource allocation have led to the development of restaurant management software market analysis post pandemic.
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