U.S. Restaurant Point Of Sale Solutions Market To Reach $10.06 Billion By 2030

U.S. Restaurant Point of Sale Solutions Market Growth & Trends

The U.S. restaurant point of sale solution market is anticipated to reach USD 10.06 billion by 2030, growing at a CAGR of 6.9% from 2023 to 2030, according to a recent study by Grand View Research, Inc. The convenience and advantages of managing transactions via mobile devices have risen in demand for the restaurant point-of-sale solution market. Switching the POS cash register system with a smartphone or mobile device integrated with POS software has shaped the need for a cloud-based POS solution. Cloud computing providers offer online financial services for POS systems, which are made possible by effectively backing up data in remote vendor servers. The solution provides reliability and flexibility for restaurant requirements and structure. The best benefit of the cloud-based POS solution has been beneficial for controlling the restaurant stocks and inventories.

Advanced facial recognition and voice ordering capabilities in AI POS systems are anticipated to form a massive base for the growth of the restaurant point of sale (POS) market in the U.S. The facial recognition software in self-service kiosks can help identify gender, age, and other features, helping the restaurant user to understand and map consumer preferences. Further, a survey shows around half of the American population used voice assistance technology in 2017. This technology is similarly expected to leverage the market for the restaurant POS system through its conversational ordering kiosk and advanced noise-canceling capabilities. Henceforth, AI in POS systems is expected to fuel the demand for the point-of-sale restaurant market in the U.S. for quicker task management, consolidated payment processing, inventory management, and elimination of human error.

The restaurant's point-of-sale costs vary depending on the price of software and hardware components. The price of POS software depends on the type of POS software, such as Hybrid POS, cloud-based POS, legacy, or on-premise POS system. Further, the hardware price for the POS system differs from the device requirements and components used to handle and process customer payments. In addition to the hardware and software costs of the POS system, several other areas account for additional prices, such as payment transaction fees, eCommerce integration, user accounts, number of locations, and other additional features. Combining all the POS system costs creates challenges for small & medium enterprises.

Integrating restaurant POS solutions with online food delivery service helps restaurant owners manage the restaurant floor plan, track inventory, automate account reports, update menu options, and manage staff and timesheets, streamlining the third-party delivery process and the in-dine process effectively. Henceforth, the growing partnership between restaurants and food delivery companies is fueling the demand for the restaurant point-of-sale solution market in the U.S.

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U.S. Restaurant Point Of Sale Solutions Market Report Highlights

• By product type, the mobile POS segment is expected to exhibit a significant growth rate owing to benefits such as affordability, quick integration, and mobility. Advanced mPOS software solutions can also handle inventory, financial transactions, and sales information to support business operations

• The software segment is expected to grow more than 7% over the forecast period. The market for POS software had grown during the COVID-19 pandemic as restaurants adopted mPOS terminals and upgraded existing applications to support online food deliveries

• By deployment mode, the cloud segment will witness the highest growth rate over the forecast period. Cloud deployment growth includes better accuracy during service, reduced hardware costs, precise inventory management, and in-depth reporting without manual work, among others.

• Top companies in the U.S. restaurant point-of-sale solution market have been developing various strategies to gain better traction in the market. For instance, in May 2022, Revel Systems partnered with DoorDash Drive, a white-label delivery fulfillment platform. The association has led to the full integration of DoorDash Drive with online ordering XT solutions. The partnership benefits the Revel system by providing a seamless customer experience.

U.S. Restaurant Point Of Sale Solutions Market Segmentation

Grand View Research has segmented the U.S. restaurant point of sale solution market based on product type, component, deployment mode, and end-user:

U.S. Restaurant POS Solutions Product Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Fixed POS

• Mobile POS

U.S. Restaurant POS Solutions Component Outlook (Revenue, USD Billion, 2018 - 2030)

• Hardware

• Software

• Services

U.S. Restaurant POS Solutions Deployment Mode Outlook (Revenue, USD Billion, 2018 - 2030)

• Cloud

• On-premise

U.S. Restaurant POS Solutions End-user Outlook (Revenue, USD Billion, 2018 - 2030)

• Full Service Restaurant (FSR)

  • Fine Dining

  • Casual Dining

• Quick Service Restaurant (QSR)

• Institutional

• Others

List of Key Players in the U.S. Restaurant Point of Sale Solution Market

• Bepoz America LLC

• Clover Network, Inc.

• Harbortouch

• Helcim Inc.

• Ingenico

• Lavu, Inc.

• Lightspeed

• NCR Corporation

• Oracle

• PAX Technology

• Revel Systems

• Square, Inc.

• Squirrel Systems

• Toast, Inc.

• TouchBistro