Restaurant Point of Sale (POS) Software Global Market Report 2024

The restaurant point of sale (POS) software market size has grown strongly in recent years. It will grow from $10.62 billion in 2023 to $11.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed in the historical period can be attributed to several factors, including advancements in technology, regulatory compliance requirements, shifts in consumer behavior, increased demand for data insights, globalization and expansion efforts, as well as heightened competition and a focus on efficiency.

The restaurant point of sale (POS) software market size is expected to see strong growth in the next few years. It will grow to $15.94 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The anticipated growth in the forecast period can be attributed to the adoption of contactless payment methods, integration with AI and machine learning technologies, a growing emphasis on sustainability, regulatory changes affecting the industry, increased demand for omnichannel solutions, and a strong focus on enhancing the customer experience. Major trends expected during this period include the adoption of cloud-based solutions, mobile POS systems, subscription-based pricing models, integration with third-party applications, and heightened attention to data security and compliance measures.

The restaurant point of sale (POS) software market is expected to experience significant growth due to the expanding food and beverages industry. This industry encompasses the production, processing, distribution, and sale of edible goods and non-alcoholic beverages. Growth in the food and beverages industry is driven by factors such as changing consumer preferences, population growth, globalization, and technological advancements. Restaurant POS software plays a crucial role in streamlining operations, managing orders, tracking inventory, and enhancing customer experiences within this industry. For example, sales of food and non-alcoholic beverages in Australia's retail sector increased from 14.8 million tonnes in 2020-21 to 15.1 million tonnes in 2021-22, as reported by the Australian Bureau of Statistics.

Major players in the virtual client computing software market are focusing on developing innovative devices such as thin clients to meet users' evolving needs for remote work and virtualization. Thin clients are lightweight computing devices designed to connect to networks and access applications and data hosted on remote servers or centralized infrastructure. For instance, Amazon Web Services (AWS) launched Amazon WorkSpaces Thin Clients in November 2023, offering a simple and secure solution for deploying virtual desktops at scale. These thin clients can be centrally managed via the AWS Management Console, simplifying IT management and deployment logistics.

In January 2023, GOFRUGAL Technologies Pvt. Ltd, an India-based digital-first company specializing in cloud and mobile ERP solutions for retail, restaurant, and distribution businesses, acquired COZY POS. This acquisition aims to help GOFRUGAL's restaurants digitize, stay competitive, and adapt to changing customer preferences while supporting COZY POS customers in transitioning to GOFRUGAL's solutions, enabling them to embrace omnichannel strategies and efficient business growth. COZY POS is a US-based provider of point-of-sale software for restaurants and retail outlets.

Major companies operating in the restaurant point of sale (POS) software market are Oracle Corporation, NCR Corporation, Toshiba Tec Corporation, Infor, Toast POS, Heartland Payment Systems, Shift4 Payments., PAR Tech, TouchBistro Inc., EposNow.com, Clover Network Inc., Revel Systems, SilverWare POS, Upserve Inc., POSist Technologies Pvt. Ltd., LimeTray, Focus POS, BIM POS, FoodZaps Technology, AccuPOS, EZee Technosys, Posera, Restaurant Manager, Aireus Inc.

North America was the largest region in the restaurant point of sale (POS) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the restaurant point of sale (POS) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the restaurant point of sale (POS) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Restaurant point of sale (POS) software is specialized software designed specifically to handle transactions, manage inventory, and streamline operations within restaurants or food service establishments. It plays a crucial role in a restaurant's technological infrastructure, managing order processing, inventory tracking, customer loyalty programs, and providing insights into sales trends and customer behavior.

The primary types of restaurant point of sale (POS) software include terminal POS systems, tablet POS systems, mobile POS systems, online POS systems, self-service kiosk POS systems, and others. A terminal POS system involves processing and managing transactions through a central terminal or device. It encompasses software, hardware, and services for functionalities such as inventory management, employee time tracking, tablet integration, receipt printing, menu creation, accounting integration, and payment processing, catering to various end-users such as quick-service restaurants, full-service restaurants, institutional setups, and others.

The restaurant point of sale (POS) software research report is one of a series of new reports that provides restaurant point of sale (POS) software market statistics, including the restaurant point of sale (POS) software industry's global market size, regional shares, competitors with a restaurant point of sale (POS) software market share, detailed restaurant point of sale (POS) software market segments, market trends and opportunities, and any further data you may need to thrive in the restaurant point of sale (POS) software industry. This restaurant point of sale (POS) software 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 restaurant point of sale (POS) software market consists of revenues earned by entities by providing services such as order management, billing and invoicing, reporting and analytics, customer relationship management (CRM), and employee management. The market value includes the value of related goods sold by the service provider or included within the service offering. The restaurant point of sale (POS) software market also includes sales of touchscreen terminals, cash drawers, receipt printers, kitchen display systems (KDS), and card readers or POS terminals. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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