What is the global market size of Restaurant Management Software Market?

Restaurant Management Software Market size was valued at USD 3.78 billion in 2019 and is poised to grow from USD 4.39 billion in 2023 to USD 14.7 billion by 2031, growing at a CAGR of 16.3% in the forecast period (2024-2031).

Global Restaurant Management Software Market

Restaurant Management Software Market Size, Share, Growth Analysis, By Software (Front-end Software, Accounting & Cash Flow), By Deployment (Cloud, On-premise), By End Use (Full-service Restaurant, Quick Service Restaurant), By Region - Industry Forecast 2024-2031

Q: Which region accounted for the largest share in Restaurant Management Software Market?

North America accounted for 34.5% of the 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.

Report ID: SQMIG45E2081 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 93 | Figures: 76

Restaurant Management Software Market Regional Insights

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.

Restaurant Management Software Market Report Snapshots

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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 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. 'Toast Inc ', 'Square Inc ', 'Upserve Inc ', 'TouchBistro Inc ', 'Lightspeed POS Inc. ', 'Oracle Corporation ', 'NCR Corporation ', 'Clover Network, Inc ', 'Agilysys, Inc ', 'Revel Systems Inc ', 'POSist Technologies Pvt. Ltd ', 'Jolt Software Inc ', 'Brink POS ', 'ShopKeep Inc ', 'Maitre'D POS ', 'Squirrel Systems ', 'Heartland Payment Systems ', 'Breadcrumb ', 'Epos Now Ltd ', 'Zomato Media Private Ltd ', 'Fiserv, Inc. ', 'Peronica (Fishbowl Inc.) ', 'Fourth Enterprises LLC. ', 'OpenTable, Inc. ', 'Square Capital, LLC '

Major aspects influencing restaurant management software market growth include increased information protection, more digitalization acceptance, and reliance on artificial intelligence (AI). Unfortunately, the high initial cost of installation and maintenance stifles industry expansion. On the contrary, a spike in market penetration across multiple end-use verticals is likely to provide prospective growth opportunities for the restaurant management software market throughout the projection period.

Because of increased competition in the restaurant business and the expansion of quick-service restaurant chains, an effective supply chain and order quality are becoming increasingly vital. This should lead to an increase in product demand. Yet, one of the major issues keeping the market from attaining its full potential is the lack of a single, smooth, integrated piece of software. These solutions are unable to communicate with the restaurant's other systems.

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Restaurant Management Software Market Size, Share, Growth Analysis, By Software (Front-end Software, Accounting & Cash Flow), By Deployment (Cloud, On-premise), By End Use (Full-service Restaurant, Quick Service Restaurant), By Region - Industry Forecast 2024-2031

Restaurant Management Software Market Regional Insights

Restaurant Management Software Market Report Snapshots

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