A recent report published by Infinium Global Research on restaurant management software market provides an in-depth analysis of segments and sub-segments in global as well as regional restaurant management software market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional restaurant management software market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global restaurant management software market. According to the report the global restaurant management software market is projected to grow at a CAGR of 14.5% over the forecast period of 2018-2024.
A restaurant management software system is designed with abilities and features to help and manage the restaurant and bar. The point of sale software is the major advantage of managing the restaurant. Hence, the point of sale (POS) software is a cash register, computer, or even an iPad where cashiers input your products, tally the cost and conduct the financial transaction. Moreover, restaurants handle a high amount of credit and cash transaction so the restaurant management software is making life easier by tracking all business sales data down to the last cent.
Waitlist management that helps guest to check wait list in their phones as well as receive a text when their table is available this is anticipated to be the key driver driving the growth of the restaurant management software market. Additionally, improvements in order processing techniques have simplified the operations such as payment processing and order management. This, in turn, is fuelling the growth of the restaurant management software market. However, unavailability of a single software that incorporates all the solutions within it is anticipated to be the major factor hampering the growth of the market over the forecast period.
Furthermore, organizing customers interacting software that allows the guest to order and pay at the table and data analytics solutions are proving beneficial to facilitate the business decision. This, in turn, is providing several growth opportunities for the key players in the restaurant management software market over the upcoming years. On the other hand, adoption of POS software by restaurant owners for an application such as billing, food ordering, payment processing, and order management reporting is anticipated to trigger the growth of the restaurant management software market over the years to come.
Among the geographies, North America held the largest share in the global restaurant management software the market as the food service providers in the North American regions are early adopters of restaurant management software solutions such as a table, menu, and kitchen management. Moreover, the growth in the food service sectors in the countries such as China and India due to favorable demographic conditions and increasing disposal income are favoring immense growth. On the other hand, Asia-Pacific region is anticipated to experience rapid development in the market growth over the upcoming years.
The report on global restaurant management software market covers segments such as software type and end user. On the basis of software type the global restaurant management software market is categorized into accounting & cash flow software, front end software, table & delivery management software, purchasing & inventory management software and employee payroll & scheduling software. On the basis of end user the global restaurant the management software market is categorized into FSR (full service restaurant) and QSR (quick service restaurant).
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global restaurant management software market such as Square Inc., ShopKeep, Revel Systems Inc., Oracle Corporation, OpenTable, Inc., NCR Corporation, Jolt, HotSchedules, Fishbowl Inc. and Clover Network, Inc.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global restaurant management software market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of restaurant management software market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the restaurant management software market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the restaurant management software market to understand the present and future trends in this market and formulate their strategies accordingly.
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