Restaurant Management Software Market Rising Trends, Huge Demand, Business Strategies Hits a CAGR of 15.3% by 2031

WILMINGTON, DE, UNITED STATES, October 1, 2024 /EINPresswire.com/ -- As per the report, the global restaurant management software market size was estimated at $4.2 billion in 2021, and is set to reach $17.1 billion by 2031, growing at a CAGR of 15.3% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.

Surge in acceptance of new restaurant service technologies and demand for quick service restaurant services drive the growth of the global restaurant management software market. Apart from this, an increase in the use of payment gateways will expand the scope of the global market in the years ahead. Nonetheless, the lack of new all-in-one restaurant management software is likely to hinder global industry growth. However, demand for subscription-based solutions will create new growth avenues for the global industry.

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Modern restaurant software systems combine the capabilities of a computer with a checkout counter in the restaurant business, enabling them to process credit card payments, generate receipts, visualize data on a user-friendly screen, and perform service station responsibilities. By replacing paper tickets in the kitchen at the back end, a centralized digital ordering system known as a kitchen display systems (KDS) helps streamline communication and efficiency in both front of the house (FOH) and back of the house (BOH) throughout most eatery establishments. Due to technological advancements, restaurant management software is being implemented in numerous eating & dining end-use sectors.

Covid-19 scenario:

The COVID-19 pandemic favorably impacted the growth of the global restaurant management software market due to a surge in demand for restaurant-specific managing software along with acceptance of quick service restaurant services.
Moreover, the surging requirement for restaurant-specific managing software for purpose of payment handling and invoicing as well as for resource allocation boosted the demand for restaurant management software post-pandemic.

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By Region, North America contributed notably toward the global restaurant management software market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for nearly two-fifths of the global restaurant management software market share in 2021. The growth of the market in the region over the forecast timespan can be credited to digitalization and smart technology developments such as automated point-of-sale systems, wireless payment getaways, and virtual reservation systems in the sub-continent. Furthermore, the development of the QSR market in the region has been aided by the existence of well-known QSR chains and the wide availability of a range of cuisines. However, the Asia-Pacific restaurant management software market is set to record the highest CAGR of 16.6% during 2022-2031. The growth of the regional market over the forecast period can be credited to the high acceptance of restaurant management software in payment processing, routine accounting operations, and order administration activities.

Major market players

Clover Network, LLC
HotSchedules (Fourth Enterprises LLC.)
Jolt
NCR Corporation
OpenTable, Inc.
Oracle Corporation
Personica (Fishbowl Inc.)
Revel Systems, Inc.
Square Capital, LLC (Block, Inc.)
TouchBistro

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The report analyzes these key players in the global restaurant management software market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.

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