Restaurant POS Terminals Global Market Report 2024

The restaurant pos terminals market size has grown strongly in recent years. It will grow from $15.09 billion in 2023 to $16.46 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth observed in the historical period can be attributed to factors such as customization and integration of POS systems, economic conditions, shifts in consumer behavior, the entry of new players into the market, and different phases of adoption within the restaurant industry.

The restaurant pos terminals market size is expected to see strong growth in the next few years. It will grow to $22.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to factors such as mobile integration, the adoption of cloud-based solutions, the rise of contactless payments, the implementation of artificial intelligence (AI) and analytics, and the continued demand for customization in restaurant POS systems. Major trends expected in the forecast period include the evolution of user interfaces, increased demand for mobility in POS systems, the incorporation of omnichannel capabilities, integration of QR codes for enhanced functionality, and the emergence of subscription-based models in the restaurant POS industry.

The restaurant POS terminal market is anticipated to experience growth driven by the increasing trend of online food ordering. This trend involves placing food orders through websites or applications, either for delivery or pickup. The surge in online ordering and meal delivery is influenced by changing consumer preferences, with a significant portion of customers now using mobile apps to place food orders online. To streamline operations and enhance customer satisfaction, restaurants are increasingly utilizing POS systems. For example, a January 2023 article by Appmysite reported that 70% of customers in the USA prefer online food purchases, highlighting the substantial growth in digital ordering compared to on-site ordering. As a result, the rising trend of online food ordering is expected to propel the restaurant POS terminal market's growth.

The growing demand for quick-service restaurants (QSRs) is another factor expected to drive the expansion of the restaurant POS terminal market. Quick-service restaurants, also known as fast-food establishments, offer fast, cost-effective meals with minimal table service. These restaurants heavily rely on POS terminals, serving as central hubs for order processing, payment transactions, inventory management, and data analysis. MediaRadar's January 2023 report indicated an estimated 12% increase in consumer spending from 2020 to reach $300 billion in 2021. This rise in demand for quick-service restaurants contributes to the growth of the restaurant POS terminal market.

Innovation in products is a prominent trend gaining traction in the restaurant POS terminals market. Key companies in the industry are dedicated to developing innovative solutions to reinforce their market positions. For instance, in April 2022, Toast, Inc., a US-based cloud-based restaurant management software company, introduced Toast for Quick Service, a specialized POS system tailored for limited-service restaurants. The system, including Toast Mobile Order and Pay Kiosks, enhances order processing efficiency, leading to fewer voids, increased gratuities, and improved staff retention.

Major players in the restaurant POS terminals market are also focusing on introducing innovative products such as restaurant POS workstations to gain a competitive advantage. These specialized computer systems are designed to cater to the unique operations and requirements of restaurants. In June 2023, Oracle Corporation launched the MICROS Workstation 8 Series, specifically designed for the retail and hospitality industries. The Workstation 8 Series features a modern, ergonomic design with a 14-inch touchscreen display, powered by an Intel Celeron processor and running the Microsoft Windows 10 IoT Enterprise 2021 LTSC operating system. This reliable POS solution is equipped with user-friendly features to help businesses in the retail and hospitality sectors enhance their operations.

In September 2022, The PNC Financial Services Group Inc, a US-based financial services corporation, acquired Linga POS LLC for an undisclosed amount. This acquisition enhances PNC's digital capabilities, particularly in serving clients in the hotel and restaurant sectors. Linga POS LLC is a US-based firm specializing in point-of-sale (POS) and payments solutions, offering an industry-leading, cloud-based restaurant operating system.

Major companies operating in the restaurant pos terminals market report are NCR Corporation, NEC Corporation, Oracle Corporation, Panasonic Holdings Corporation, PAX Technology, VeriFone Systems Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, Squirrel Systems Inc., PAR Technology Corporation, Brookfield Equinox LLC, Lover Network Inc., TouchBistro Inc., POS-X LLC, Kounta, POS Nation, Posist Technologies Pvt. Ltd., Posiflex Technology, Touch Dynamic, Micros Retail Systems Inc., Aures Group, Diebold Nixdorf Incorporated, Hewlett Packard Enterprise Development LP, INGENICO S.A., Lightspeed Management Company LLC, Revel Systems Inc., Shift4 Payments Inc., Clover Network Inc., ShopKeep, Lithos POS Systems Inc.

Asia-Pacific was the largest region in the restaurant POS terminals market in 2023. The regions covered in the restaurant pos terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the restaurant pos terminals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of restaurant POS terminals are fixed POS terminals and mobile POS terminals. Fixed POS terminals are positioned relative to the viewport, ensuring that an element with the attribute position fixed remains in the same location regardless of how far the page is scrolled. The deployment modes for restaurant POS systems include on-premises and cloud, serving both front-end and back-end functions. These systems cater to various types of establishments, including full-service restaurants (FSR), quick-service restaurants (QSR), institutional full-service restaurants, and other end users.

The restaurant POS terminals market research report is one of a series of new reports that provides restaurant POS terminals market statistics, including restaurant POS terminals industry global market size, regional shares, competitors with restaurant POS terminals market share, detailed restaurant POS terminals market segments, market trends, and opportunities, and any further data you may need to thrive in the restaurant POS terminals industry. This restaurant POS terminals market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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