United States (US) Restaurant Point-of-Sale (POS) Terminals Market Highlights Over 2020 - 2030
The United States (US) restaurant point-of-sale (POS) terminals market is estimated to garner a revenue of USD 8511.69 Million by the end of 2030, by growing at a CAGR of 6.85% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 4288.58 Million. The growth of the market can primarily be attributed to the growing number of restaurants in the country, backed by the increasing preference of the individuals to opt for foods from such outlets, and for the rising share of urban population in the nation.
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One of the major factors that is anticipated to increase the preferences of customers for food away from home is the growing household disposable income of the individuals of the country. According to the statistics by the Organization for Economic Co-Operation and Development (OECD), the gross adjusted household disposable income in the United States, increased from USD 40621/capita in the year 2010 to USD 54854/capita in the year 2019.
Besides this, the increasing need amongst restaurant owners to raise their service standards as well as their employee productivity is also expected to drive the market growth in the coming years. Restaurant point-of-sale (POS) terminals helps to reduce the probability of an error, especially during peak working hours. Moreover, these terminals help to streamline workflow processes and also helps in understanding consumer behavior and ultimately sales.
United States (US) Restaurant Point-of-Sale (POS) Terminals Market Regional Synopsis
Regionally, the United States (US) restaurant point-of-sale (POS) terminals market is segmented into South U.S., West U.S., Middle West U.S., and North East U.S. The market in South U.S. registered the largest market revenue of USD 1432.63 Million in the year 2020, and is further expected to garner USD 2863.31 Million by the end of 2030 by growing with a CAGR of 6.92% during the forecast period. One of the major factors anticipated to drive the growth of the market in the region is the increasing presence of restaurants in this part of the region, especially in Texas, Virginia, Alabama, Tennessee, and others. Moreover, the population in several states of South United States is projected to increase significantly in the coming years, and in turn, increase drive the sales of restaurants in the region. According to the statistics by the National Restaurant Association the projected growth rate between the years 2018 and 2030 in Texas, Georgia, Florida, and the South and North Carolina is 14% or more, while that in Tennessee and Virginia is 7% to 13.9%.
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Growth Drivers and Challenges Impacting the Growth of the United States (US) Restaurant Point-of-Sale (POS) Terminals Market
Growth Drivers
- Growing Number of Restaurants in the US
- Increasing Preference for Food Away from Home
Challenges
- High Cost of POS Terminals
- Concerns Related to Cyber Security
United States (US) Restaurant Point-of-Sale (POS) Terminals Market Segmentation Synopsis
The United States (US) restaurant point-of-sale (POS) terminals market is segmented by POS system type into mobile/portable POS terminals, traditional POS system, cloud POS system, self-service kiosk POS system, and others. Out of these, the mobile/portable POS terminals segment is expected to register the largest market revenue of USD 3613.63 Million by the end of 2030, up from a revenue of USD 1689.14 Million in the year 2020. The market is further segmented by deployment mode into cloud-based and on-premise. Out of these, the on-premise segment registered the largest revenue in the year 2020 and is further expected to attain the highest market share during the forecast period. By enterprise size, the market is segmented into small & medium enterprise and large enterprise, out of which, the small & medium enterprise segment is expected to garner the largest market revenue by the end of 2030 and also grow with the highest CAGR of 6.91% during the forecast period. The market is further segmented by restaurant type into quick service restaurants (QSR), full-service restaurants (FSR), and others. Out of these, the full-service restaurants (FSR) segment is anticipated to hold the highest market share during the forecast period and also attain the largest revenue of USD 3597.29 Million by the end of 2030. The segment is further divided into casual dining, family-style, upscale dining, and fine dining, out of which, the casual dining segment registered the largest market revenue of USD 1140.62 Million in the year 2020, and is expected to hold the highest market share by the end of 2030.
Top Featured Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the United States (US) restaurant point-of-sale (POS) terminals market that are included in our report are BrewPOS, Amber Systems Technologies, Cybrosys Technologies, Intuition Systems, Sintel Systems, TouchBistro Inc., Clover Network, Inc., talech, Inc. (U.S. Bank), Lavu, Inc., Epos Now LLC, Upserve, Inc., Square, Inc., Toast, Inc., Cake Corporation, Lightspeed, NCR Corporation, Heartland Payroll Solutions, Inc., Oracle (MICROS POS Systems), PAR Technology Corp., and others.
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