Restaurant point of sale (POS) is a system, that enables restaurants to offer better services to their customers and employees by increasing the overall efficiency of a restaurants daily routine, which includes receiving and processing orders, maintaining finances, etc. Restaurant point of sale terminals can be used for a number of various restaurant operations such as taking food & beverage orders, reserving tables, processing card transactions, managing restaurant staff, among others.
Major factor driving growth of the global restaurant point of sale terminal market is growing demand for restaurant point of sale systems from restaurant operators for efficient billing and management solutions such as cost management, inventory management, and staff management. Additionally, increasing use of Europay, MasterCard, and Visa (EMV) cards for payment, and growing awareness regarding benefits of restaurant point of sale system among restaurant owners are other factors expected to fuel growth of the global market over the forecast period.
Concerns related to data privacy is a key factor restraining growth of the global restaurant point of sale terminal market. In addition, internet connectivity issues and lack of reliable and advanced infrastructure for deployment and use of restaurant point of sale systems specifically in emerging economies are other factors expected to hamper growth of the global market over the forecast period.
Current and major trend in the market is growing adoption of mobile point of sale systems especially tablet based systems by restaurant operators, which is another factor expected to boost growth of the global market over the forecast period.
The global restaurant point of sale terminal market is segmented on the basis of product, component, deployment type, end user, and region. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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North America market accounted for highest share in terms of revenue in the global market, as compared to that of markets in other regions. This can be attributed to increasing government support for adoption of advanced EMV enabled devices in the region. The market in Asia Pacific is expected to witness considerable growth and is expected to register highest CAGR of X.X% over the forecast period, owing to increasing adoption of restaurant point of sale terminals in restaurants in emerging economies such as China, Japan, and India.
Prominent players in the global restaurant point of sale terminal market include Ingenico Group, VeriFone Systems, Inc., NCR Corporation, Revel Systems, Inc., TouchBistro, Inc., VeriFone Systems, Inc., Oracle Corporation, Aireus Inc., Action Computer Systems, Inc., and Harbortouch Payments, LLC.