The US restaurant point-of-sale (POS) terminals market is estimated to grow at a CAGR of 6.9% during the forecast period. The growing restaurant industry is the major factor driving the adoption of POS terminals in the country. National Restaurant Association anticipates $899 billion in sales of the US restaurant industry in 2020. By 2030, 1.6 million new restaurant jobs will be created in the US. More restaurants will be opened in the near future, which in turn, will further accelerate the market growth. For instance, In January 2019, Domino’s declared that it predicts the growth potential of 2,000 stores in the US over the next six years. Further, in July 2019, Subway declared that over 10,500 US Subway restaurants will be remodeled with new décor and design by the end of 2020.
A full report of US Restaurant Point-of-Sale (POS) Terminals Market is available at: https://www.omrglobal.com/industry-reports/us-restaurant-point-of-sale-pos-terminals-market
Such kinds of initiatives will further escalate the adoption of POS terminals for online ordering, order management, processing card payments, online order integration, and inventory management. The major benefit of using a POS system is that it facilitates communications between the wait staff and the kitchen staff. In addition, it allows tracking everything from the usage of food to the most famous menu items. POS system can also support preparing payroll, which can save a lot of money in the bookkeeping department. Apart from the daily operations of operating a restaurant, the system can organize sales tax and profit and loss statements.
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Scope of the US Restaurant POS Terminals Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product, Deployment, and End-User
- Competitive Landscape- NCR Corp., HP, Inc., Lightspeed POS, Inc., and Mad Mobile, Inc.
Recent Strategic Initiatives in the US Restaurant POS Terminals Market
In August 2020, Mad Mobile, Inc. signed an agreement to acquire CAKE, a provider of restaurant technology owned by Sysco Corp. The CAKE POS solution provides service to more than 5,000 restaurant locations. This acquisition will increase the vision of Mad Mobile to offer a next-generation POS solution that features an advanced architecture and mobile capabilities. It will integrate its mobile platform with CAKE technology for delivering a mobile-first POS solution for all kinds of restaurants.
In November 2019, NCR Corp. declared the acquisition of POS Solutions, a provider of POS and restaurant solutions in central Texas, US. This acquisition will further widen access to NCR’s restaurant technology. NCR solutions such as the NCR Aloha Essentials subscription package and signature NCR Aloha point-of-sale platform offer everything restaurants require to run their business, leverage efficiency and enhance growth. This will increase NCR capabilities to offer solutions and serve its customers in local restaurant markets, including Austin.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
European Restaurant POS Terminals Market-Segmentation
By Product
- Fixed
- Mobile
By Deployment
- Cloud-based
- On-Premise
By End-User
- Full-Service Restaurant (FSR)
- Quick Service Restaurant (QSR)
- Institutional
- Others
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