Restaurant Management Software Market: Current Analysis and Forecast (2022-2028)

Report Description

Global Restaurant Management Software Market is expected to grow at a significant rate of around 16% during the forecast period. Restaurant management software is designed to be an end-to-end software solution to help users run their restaurants. In addition, the increasing acceptance of new restaurant service technologies and demand for quick service restaurant services are driving the growth of the global restaurant management software market. Moreover, the growing use of technology to manage operations in the restaurant sector is driving the global restaurant management software market. For instance, in July 2022, Toast ­­– the all-in-one digital technology platform built for restaurants, announced that it has acquired Sling, a leading employee scheduling, communication, and management solution. Moreover, features including scheduling templates, in-app messaging, and multi-location team management, Sling helps restaurant staff more efficiently and better manage labor costs and helps increase employee job satisfaction.

Clover Network, LLC, Personica (Fishbowl Inc.), HotSchedules (Fourth Enterprises LLC.), Jolt, NCR Corporation, OpenTable, Inc., Oracle Corporation, Revel Systems, Square Capital, LLC, TouchBistro are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst deployment, on-premise category to witness significant CAGR during the forecast period”

On the basis of deployment, the market is categorized into the cloud and on-premise. Among these, the on-premises to hold a significant share in the market in 2020. One of the major reasons driving the growth of the on-premises segment is the privacy and security facilities provided by on-premises it is beneficial for enterprises that wish to maintain the confidentiality of their data and secure the data from cyberattacks. However, on-premises POS platforms have some specific uses and contexts that some retailers prefer, although the trend indicates a continuing shift to cloud-based solutions.

“Amongst end user, the full-service restaurant (FSR) to hold a significant share in the market in 2020”

Based on end user, the restaurant management software market has been classified into full-service restaurants (FSR), quick service restaurants (QSR), institutional, and others. The full-service restaurant (FSR) category is to witness higher adoption of restaurant management software during the forecast period. Among these, the full-service restaurant (FSR) to hold a significant share in the market in 2020. In addition, FSRs have advanced technologies to improve table turn times and reduce labor costs, by which they can offer better customer service according to the demand of the customers.

“North America to hold a significant share in the market”

In 2020, North America held a significant share of the global restaurant management software market. This is mainly attributed to the rapid urbanization, rising disposable income, the well-organized character of the food service sector, and a high level of vendor market penetration all contribute to the regional industry’s growth. Therefore, Vendors are launching innovative software solutions such as payroll, staff scheduling, and inventory management to carry out back-end operations professionally. Further, increasing digitalization and advances in smart technology, such as automated point-of-sale systems, wireless payment methods, and virtual reservation systems in the sub-continent, is to be blamed for the market expansion in the region throughout the projection period. According to Finical Holdings LLC, approximately 51% of American adults are now using at least one form of contactless payment.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global restaurant management software market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Restaurant Management Software Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global restaurant management software market were the three major steps undertaken to create and analyze the adoption of restaurant management software in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global restaurant management software market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the restaurant management software market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the restaurant management software market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as software, deployment, end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the restaurant management software market. Further, we conducted factor analysis using dependent and independent variables such as various technological developments in the restaurant sector of restaurant management software. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the restaurant management software market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global restaurant management software market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the restaurant management software market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global restaurant management software market in terms of service offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global restaurant management software market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of software, deployment, and end-user in the global restaurant management software market.

The main objective of the Global Restaurant management software Market Study

The current & future market trends of the global restaurant management software market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the restaurant management software market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of software, deployment, and end user.
• Define and analysis of the regulatory framework for the restaurant management software
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the restaurant management software market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
• Company profiles of the restaurant management software market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

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