Restaurant Management Software Market to grow by USD 4.5 billion from 2022 to 2027, Growth of foodservice industry boosts the market – Technavio

NEW YORK, Nov. 6, 2023 /PRNewswire/ — The restaurant management software market by deployment (on-premises and cloud-based), end-user (QSR, FSR, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027 report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the restaurant management software market between 2022 and 2027 is USD 4.5 billion. The growth of the food service industry drives the market growth. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Rapid urbanization across the world has significantly increased the disposable income of people. In addition, it generates job opportunities, which encourages people from rural areas to migrate to urban areas. Therefore, the demand for convenient and easy-to-prepare food products has increased due to rapid urbanization and the high participation of women in the workforce which in turn drives the market growth.

Market Challenge –

• System integration and interoperability issues a significant challenges hindering market growth. There is an increase in the adoption of advanced technologies in the global restaurant industry which is leading to system integration and interoperability issues. In addition, minor system glitches can also cause considerable costs to restaurants and minimize operational efficiency. Hence, such factors hinder the market growth during the forecast period.

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The restaurant management software market is segmented by deployment (on-premises and cloud-based), end-user (QSR, FSR, and Others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

• The market share growth by the on-premises segment is significant during the forecast period. This segment is the traditional and preferred method of installation of restaurant management software solutions. In addition, it enables the real-time monitoring of restaurant management software solutions. In addition, it ensures the complete security of enterprise data, such as source codes, and version enhancements which is fuelling the growth of this segment which in turn drives the market growth.

Geo Segment – 

• North America accounts for 48% of the market growth during the forecast period. Factors such as rapid urbanization, the well-organized nature of the food service industry, and the market penetration of companies are significantly contributing to the growth of the market in North America during the forecast period.

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Key Companies in the restaurant management software market:

Block Inc., Cozy Infosystems Inc., Fiserv Inc., Fishbowl Inc., Fourth Enterprises LLC, GOFRUGAL, i3 Verticals Inc., International Business Machines Corp., Jolt Software Inc., Lavu Inc., Lightspeed Commerce Inc., Microsoft Corp., NCR Corp., Oracle Corp., Restaurant365 LLC, Revel Systems Inc., Technoheaven, Toast Inc., and TouchBistro Inc.

Related Reports:

The enterprise information management (EIM) market size is estimated to grow at a CAGR of 17.01% between 2023 and 2028. The market size is forecast to increase by USD 88.02 billion.

The business management software (BMS) market size is estimated to grow at a CAGR of 10.48% between 2023 and 2028. The market size is forecast to increase by USD 222.08 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio