USD 3.8 billion
Report ID:
SQMIG45E2081 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
93
|Figures:
76
Global Restaurant Management Software Market size was valued at USD 3.8 billion in 2022 and is poised to grow from USD 4.4 billion in 2023 to USD 14.7 billion by 2031, growing at a CAGR of 16.3% during the forecast period (2024-2031).
The expanding number of restaurants globally, as well as the increasing use of cloud based apps technology and the growing adoption of Quick Service Restaurant (QSR) services, can be contributed to the increase. The COVID-19 epidemic had an influence on the restaurant business, resulting in temporary closures and a dearth of dine-in guests. Yet, by offering contactless payment choices, eateries were able to withstand the pandemic thanks to the adoption of Point of Sale (POS) technology.
Due to the epidemic, numerous packaged food services and restaurants sought to address consumer needs through online sales channels. As a result, the additional benefit of implementing POS systems to precisely determine client preferences and sales trends is predicted to augment market growth. Restaurant-specific software such as invoicing and payment, inventory management, and table management are likely to boost growth. In addition, recent advances in order processing technology have assisted restaurateurs in streamlining their order administration.
US Restaurant Management Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 3.8 billion
Largest Segment
front-end software
Fastest Growth
front-end software
Growth Rate
16.3% CAGR
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Global Restaurant Management Software Market is segmented by Software, Deployment, End Use and Region. Based on Software, the market is segmented into Front-end Software, Accounting & Cash Flow, Purchasing & Inventory Management, Table & Delivery Management, Employee Payroll & Scheduling, Others. Based on Deployment, the market is segmented into Cloud, On-premise. Based on End Use, the market is segmented into Full-service Restaurant (FSR), Quick Service Restaurant (QSR), Institutional, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Restaurant Management Software Market Analysis by Software Type
In 2022, the front-end software segment held a 35.6% market share. Because it is less expensive than iOS-based software, restaurant management software with Android support is widely used around the world. Some of the primary elements driving the popularity of Android software over iOS software include easy access to smartphones and other connected devices, a lesser necessity for technical expertise, the ability to function with many users, and cost-effectiveness. But, as cross-platform technologies progress, restaurant operators are increasingly choosing software solutions that support both operating systems. Over the projection period, this is expected to boost segment growth.
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North America accounted for 34.5% of the global restaurant management software market in 2022. The regional market is being pushed by rising disposable income, rapid urbanization, and vendor market penetration. Furthermore, the presence of popular QSR and FSR chains, as well as the great availability of a variety of cuisines, contribute to the QSR market movement in the region.
For example, Fiserv, Inc., a financial technology service provider, announced the acquisition of BentoBox, a digital marketing and commerce platform provider that assists restaurants in connecting with their visitors, in October 2021. The acquisition enabled the company to broaden its Clover dining solution, as well as its commerce and business management capabilities, allowing over 200,000 businesses to deliver distinctive diner experiences ranging from quick and informal to full service.
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Restaurant Management Software Market Driver
Restaurant Management Software Market Restraint
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Restaurant Management Software Market Top Player’s Company Profiles
Restaurant Management Software Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, Global Restaurant Management Software market is segmented based on software, deployment, end-use and region. Based on the deployment, On-premises segment of the market is projected to hold the most substantial share in the market. Based on the end-use, FSR segment of the market is projected to hold the most substantial market share. Based on the region, North America region holds a substantial market share.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.8 billion |
Market size value in 2031 | USD 14.7 billion |
Growth Rate | 16.3% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Restaurant Management Software Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Restaurant Management Software Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Restaurant Management Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Restaurant Management Software Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45E2081
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