The Global Restaurant Management Software Market size is expected to reach $10 billion by 2028, rising at a market growth of 14.6% CAGR during the forecast period.
Restaurant management software focuses on automating a restaurant's daily workflows. Accounting, customer contact details, and supplier data are among the features, as are restaurant-specific necessities such as customer management, order tracking, cooking management, and table bookings. In addition, the software automates guest planning and inventory control. To handle orders and billing processes, it incorporates POS tools.
Software that facilitates the streamlining of food industry operations is referred to as a restaurant management system. Specifically, eating establishments, bars, bakeries, cafes, cloud kitchens, food trucks, or delivery services. It combines all the beneficial aspects of conventional POS (Point of Sale) systems with tools for managing calls, taking reservations for tables, streamlining inventory management, handling billing, providing actionable analytics, and assisting with marketing initiatives like CRM, loyalty schemes, and establishing an online presence. Additionally, it utilizes open APIs that enable to interact with any third-party application and seamlessly integrates with existing restaurant technology systems.
To ensure data information security for the restaurant POS systems, strong regulation is now required due to the rise in the use of credit and debit cards for restaurant payments. Preventing a data breach has helped secure important corporate information from personnel and provided management more control. The use of mobile and table-side solutions, including tablets, iPods, tabletop kiosks, and table-side payments, enables the service team to provide a better client experience. Restaurant proprietors and executives may improve customer satisfaction, assess costs, and boost profits with the aid of these software tools.
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation are the forerunners in the Restaurant Management Software Market. Companies such as Fiserv, Inc., NCR Corporation and Block, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Block, Inc., Fiserv, Inc. (Clover Network, Inc.), NCR Corporation, Oracle Corporation, Revel Systems, Personica, Jolt Software, Inc., OpenTable, Inc., TouchBistro, Inc., and Fourth Enterprises LLC.
By Deployment
Restaurant management software focuses on automating a restaurant's daily workflows. Accounting, customer contact details, and supplier data are among the features, as are restaurant-specific necessities such as customer management, order tracking, cooking management, and table bookings. In addition, the software automates guest planning and inventory control. To handle orders and billing processes, it incorporates POS tools.
Software that facilitates the streamlining of food industry operations is referred to as a restaurant management system. Specifically, eating establishments, bars, bakeries, cafes, cloud kitchens, food trucks, or delivery services. It combines all the beneficial aspects of conventional POS (Point of Sale) systems with tools for managing calls, taking reservations for tables, streamlining inventory management, handling billing, providing actionable analytics, and assisting with marketing initiatives like CRM, loyalty schemes, and establishing an online presence. Additionally, it utilizes open APIs that enable to interact with any third-party application and seamlessly integrates with existing restaurant technology systems.
To ensure data information security for the restaurant POS systems, strong regulation is now required due to the rise in the use of credit and debit cards for restaurant payments. Preventing a data breach has helped secure important corporate information from personnel and provided management more control. The use of mobile and table-side solutions, including tablets, iPods, tabletop kiosks, and table-side payments, enables the service team to provide a better client experience. Restaurant proprietors and executives may improve customer satisfaction, assess costs, and boost profits with the aid of these software tools.
COVID-19 Impact Analysis
The outbreak of COVID-19, which has disrupted the restaurant business, as well as the increasing demand for restaurant-specific software for invoicing and payment processing and inventory management have led to the development of restaurant management software. A public health emergency known as COVID-19 has affected nearly every business, and its long-term effects will influence the industry's growth over the forecast period. The continuous research expands upon research approach to ensure that COVID-19 problems are covered and potential future directions are explored. Based on changes in consumer demand and behavior, buying habits, supply chain rerouting, contemporary market dynamics, and government initiatives, this paper provides information on COVID-19.Market Growth Factors
Simple to use, with increased flexibility and mobility for enterprises
Any device with an internet connection can access a cloud-based POS system. It can now view real-time labor usage percentages, productivity reports, and inventory counts. The data is instantly updated and accessible at all times from any remote location. This feature of cloud POS increases the adaptability of business operations. Additionally, cloud POS can be configured on a mobile device, letting people travel with the tools. It also offers the advantage of enabling to expand the current system's mobility by adding new mobile devices. The use of Excel spreadsheets, printed schedules, written agreements, paper timesheets, and other workforce management tools is no longer necessary.Time-saving discount and loyalty program
Customers enjoy discounts, but it's not always clear how to deliver them. A solid discount program requires considerable thought and work to develop, and even more, work to put into practice. However, restaurant management software can create bespoke, dynamic discount programs, doing all the work. If a customer visits restaurant after a particular number of days, it can offer them a special discount as a reward for being a regular customer. Even better, can program an automated email to inform devoted clients of their unique offer. Customers who want to go one step further can also routinely track previous purchases in the restaurant management software, which will suggest meals at a lower price while maintaining profitability and customer satisfaction.
Market Restraining Factors
Low amount of awareness and standardization
Lack of global system standards and low consumer knowledge are the main challenges facing the cloud POS market. Attracting customers and successfully expanding vertical markets are the main challenges facing producers of cloud POS technology. Customers require an acceptable cash substitute, but they frequently aren't aware of the options on the market. Consumers in wealthier countries tend to avoid using wireless payment cards out of security concerns, whereas consumers in poorer countries are typically unaware of wireless payment technologies. Regulatory agencies must make major efforts to inform the public about the flexible and secure data POS systems currently available.Deployment Outlook
Based on Deployment, the market is segmented into Cloud and On-premise. The cloud segment acquired the highest revenue share in the Restaurant Management Software Market in 2021. The prepared platform, which has already been created and approved by the software suppliers, is what makes cloud-based solutions simple to adopt. Restaurant operators can access data essentially from anywhere due to cloud-based solutions' direct information centralization capabilities.End Use Outlook
Based on End Use, the market is segmented into Full-service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional, and Others. The quick service restaurant segment (QSR) recorded a substantial revenue share in the Restaurant Management Software Market in 2021. Due to the factors such as POS systems, payment digitization, and rising disposable income. QSR operators can automate their business processes due to several advantages provided by restaurant management software.Software Outlookk
Based on Software, the market is segmented into Front-end Software, Accounting & Cash Flow, Purchasing & Inventory Management, Table & Delivery Management, Employee Payroll & Scheduling, and Others. The front-end software segment garnered the highest revenue share in the Restaurant Management Software Market in 2021. The increase in supply of software solutions including customer relationship management, recipe monitoring, culinary order taking, and POS solutions is responsible for the segment growth. These POS-integrated solutions make it simple for restaurants to handle order management and payment processing.Regional Outlook
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America segment acquired the highest revenue share in the Restaurant Management Software Market in 2021. It is due to the Rapid urbanization, rising consumer income, the good structure of the foodservice sector, and a high level of vendor market penetration all contribute to the regional industry's growth. Additionally, the expansion of the QSR market in the area has been aided by the existence of well-known QSR chains and the widespread availability of a variety of cuisines.Cardinal Matrix-Restaurant Management Software Market Competition Analysis
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Oracle Corporation are the forerunners in the Restaurant Management Software Market. Companies such as Fiserv, Inc., NCR Corporation and Block, Inc. are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Block, Inc., Fiserv, Inc. (Clover Network, Inc.), NCR Corporation, Oracle Corporation, Revel Systems, Personica, Jolt Software, Inc., OpenTable, Inc., TouchBistro, Inc., and Fourth Enterprises LLC.
Strategies Deployed in Restaurant Management Software Market
Partnerships, Collaborations and Agreements:
- May-2022: OpenTable formed a partnership with Tripleseat, the foremost web-based sales and event management platform. Through this partnership, the companies aimed to permit event managers to seamlessly transmit event details with front-of-house team to simplyfy the event booking procedure, decreasing manual data entry mistakes, keep the floor space adjustable, and offer a more disciplined guest experience.
- Mar-2022: NCR Corporation formed a partnership with STRATACACHE, the enterprise superior in digital signage and retail marketing technology. Under this partnership, the companies aimed to bring together complete software solutions that connect NCR Commerce Platform, powerful analytics, and 24x7x365 field assistance that permit restaurants to deliver nimble vibrant movements and custom-made experiences to engage customers.
- Feb-2022: Revel Systems formed a partnership with Voxie, a text marketing platform. Together, the companies aimed to offer an integrated portfolio that assists push for extra revenue for consumers in the retail and restaurant sectors. Additionally, the partnership expands the superior consumer experience delivered at the Revel POS with a highly customized post-purchase concentration from Voxie.
- Jan-2022: Jolt came into a partnership with ParTech, a global restaurant technology company. Under this partnership, the companies aimed to combine their famous operations managing software within Brink POS. Moreover, combining Jolt within Brink POS eliminates the requirement for double entry and dual maintenance when utilizing both systems. Furthermore, Brink POS users can relish digital food safety, team accountability, and worker performance while maintaining a single record for the individual worker.
- Nov-2021: OpenTable came into a partnership with UrVenue, powers hospitality commerce, and enhances the guest experience. Under this partnership, visitors can book attractions, clubs, pools, recreation, restaurants, and more via a central, seamless reserving experience, with one combined shopping cart. Additionally, These solutions are developed for lodges to streamline and assemble easy reserving procedures.
- Sep-2020: NCR Corporation came into a partnership with Microsoft, the largest retailer of computer software in the world. With this partnership, the companies aimed drive NCR's Internet of Things management software on Azure IoT AI technology to rapidly convert data into insights. Additionally, NCR's restaurant consumers is expected to achieve a wall-to-wall IoT managed and monitoring services solution that proactively maintains interconnected devices operating with enhanced uptime, improving consumers' experience.
Product Launches and Product Expansions:
- May-2022-May NCR Corporation introduced Aloha Cloud, new cloud-based technology. The new NCR Aloha Cloud provides a revived consumer interface, the smallest handheld device, along with coherent payment processing with next-day allocation of deposits, providing consumers more additional time to concentrate on operating their restaurant. In addition, Aloha Cloud is easy to use, providing the exact order-taking and payment experience for attendants across designated terminals and handhelds, permitting restaurants to running in less than a week with access to 24/7 support.
- May-2022-May Block, Inc. previously known as Square introduced Square for Restaurants mobile POS, a portfolio of new software and hardware restaurant solutions. The Square for Restaurants mobile POS permits restaurants of all styles and sizes, specifically full-service restaurants, to improve the bottom line and improve the ability of processes. In Addition, the software provides servers the capacity of Square for Restaurants, a restaurant POS, in the apron pocket allowing them to fast and seamlessly accept orders and amounts tableside or in line.
- Apr-2022: TouchBistro introduced TouchBistro Marketing, extensive marketing, and customer relationship administration platform. The new TouchBistro combines restaurants with visitors and drives repeat stays by permitting operators automate custom marketing movements and advertisements. Additionally, TouchBistro Marketing seamlessly combines with the TouchBistro restaurant management forum which contains payments, POS, online ordering, loyalty, reservations, and many more.
- Nov-2021: Jolt Software unveiled Jolt Communication Manager. The new software offers communication between executives and workers & stores, Jolt Communication Manager assures crucial data is provided to the right individuals, at the correct time, and in the proper way, through Message Blasts and Announcements feature. Additionally, notifications are portrayed to specified workers once they log in to the application.
- Aug-2021: Clover from Fiserv introduced a Clover Station Solo in its existing range of point-of-sale devices. The Clover Station Solo assists supply the demand for an individual system that restaurants can depend on to manage staff, run business, and support the increasing number of customers willing to eat in locations while sustaining delivery and take-out.
Acquisition, Joint Venture and Merger:
- May-2022: Square completed the acquisition of GoParrot, a digital ordering and marketing platform for restaurants. With this acquisition, Square sellers is expected to able to approach more consumer experience via an app that dealers can personalize, and the app is expected to let consumers place orders and look into top-selling articles and discount popups. Additionally, GoParrot also delivers restaurants andeveloped marketing software with combined automatic actions for campaigns across deserted carriages, vacations, and multiple things.
- Oct-2021: Fiserv completed the acquisition of BentoBox, a digital marketing and commerce enterprise. Through this acquisition, BentoBox permits restaurants to design new revenue streams and develop determined consumer experiences. Moreover, BentoBox's solution within the end-to-end management platform and Omni business abilities of Clover is expected to boost improved functional efficiencies for restaurants and allow the administrator to deliver smooth and specific hospitality experiences for consumers.
- Aug-2021: NCR Corporation completed the acquisition of Foremost Business Systems, a point-of-sale and restaurant solutions provider in Minneapolis. Through this acquisition, the company aimed to grow the spread of NCR’s restaurant technology authorized by more than 100,000 restaurants across the world. In addition, The combination of the Foremost Business Systems team within NCR provincial office network boost NCR’s capability to obtain creative solutions.
- Jul-2021: Oracle completed the acquisition of GloriaFood, online marketing, and ordering platform. With this acquisition, the company aimed to expand its Oracle Micros Simphony Cloud POS platform to deliver Oracle's restaurant consumers to benefit eateries instantly through the mobile, web, and apps. Additionally, Oracle aimed to expand its offering to sustain upcoming labels and provide impressive e-commerce experiences.
- Mar-2020: Fiserv took over Bypass Mobile, an independent software developer. This acquisition is expected to assist Fiserv power the next era of Omni-commerce abilities, allowing the firms to provide an absolute consumer experience that transits digital and physical channels. In addition, Bypass offers office administration tools and understanding machines for entertainment and venues, food service management suppliers, and national restaurant groups.
- Mar-2020: Fiserv completed the acquisition of MerchantPro Express, which provides processing services, refined point-of-sale tools, and vendor cash passages to enterprises across nation. Under this acquisition, the company aimed to integrate expertise and solutions within one roof to expand and quicken the delivery of new and creative solutions. In Addition, the integration includes Fiserv’s payment solutions, including Cardpointe, CoPilot, and Clover, within single platform.
Scope of the Study
Market Segments Covered in the Report:
By Deployment
- Cloud
- On-premise
- Full-service Restaurant (FSR)
- Quick Service Restaurant (QSR)
- Institutional
- Others
- Front-end Software
- Accounting & Cash Flow
- Purchasing & Inventory Management
- Table & Delivery Management
- Employee Payroll & Scheduling
- Others
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Block, Inc.
- Fiserv, Inc. (Clover Network, Inc.)
- NCR Corporation
- Oracle Corporation
- Revel Systems
- Personica
- Jolt Software, Inc.
- OpenTable, Inc.
- TouchBistro, Inc.
- Fourth Enterprises LLC
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Restaurant Management Software Market by Deployment
Chapter 5. Global Restaurant Management Software Market by End-Use
Chapter 6. Global Restaurant Management Software Market by Software
Chapter 7. Global Restaurant Management Software Market by Region
Chapter 8. Company Profiles
Companies Mentioned
- Block, Inc.
- Fiserv, Inc. (Clover Network, Inc.)
- NCR Corporation
- Oracle Corporation
- Revel Systems
- Personica
- Jolt Software, Inc.
- OpenTable, Inc.
- TouchBistro, Inc.
- Fourth Enterprises LLC
Methodology
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