PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251526
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1251526
Global Restaurant Management Software Market is valued at approximately USD 3.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 16.3% over the forecast period 2022-2029. Restaurant management software is a type of technology solution designed to help restaurant owners and managers streamline their business operations and improve efficiency. It provides a platform for automating a variety of tasks including inventory management, employee scheduling, point-of-sale (POS) transactions, and customer relationship management. The market demand is primarily driven by the factors such as the constantly growing numbers of restaurants worldwide, increasing application of cloud-based technologies and rising integration of Quick Service Restaurant (QSR) services.
In addition, the increasing application of cloud-based technologies and the rising integration of QSR services are leading to investments by companies. Toast, a cloud-based restaurant management platform, announced a $400 million funding round led by Bessemer Venture Partners and TPG in April 2021. Similarly, Olo, a platform for digital ordering and delivery management for restaurants, raised $450 million in its initial public offering (IPO) in March 2021. The potential of rising investments, thus, in turn, is expected to escalate the demand for restaurant management software in the global market. Furthermore, the increasing usage of Kitchen Display Systems and surging adoption of restaurant management software by hotels and restaurants are presenting lucrative opportunities for market growth over the forthcoming years. However, a lack of awareness in underdeveloped regions is restricting the market growth over the forecast period of 2022-2029.
The key regions considered for the Global Restaurant Management Software Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue due to swift urbanization and the presence of popular QSR and FSR chains. Whereas, Asia Pacific is also expected to grow at the highest growth rate over the forecasting period. Factors such as the rising implementation of software technology and demand for consumer-friendly restaurants are burgeoning the market growth in the forecasting years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable