The global restaurant management software market was valued at $4.2 billion in 2021, and is projected to reach $17.1 billion by 2031, growing at a CAGR of 15.3% from 2022 to 2031.
A system that manages payment processing, order administration, daily accounting, and streamlines operations and advertising is known as a restaurant management software. A restaurant management system aids businesses in streamlining operations so they may focus on enhancing the restaurant's reputation.
A modern restaurant management software includes data protection measures to preserve sensitive company data, simplifies internal processes, connects all the stakeholders in the restaurant's performance, and easily manages sales, labour, and inventory data management. As a consequence, this raises sales, profits, and client satisfaction while reducing staff retention, order processing mistakes, wait times, and stress levels, and striving towards enhanced restaurant management.
The restaurant management software market share is expected to witness notable growth during the forecast period, owing to increasing adoption of advanced restaurant service technologies and rising acceptance of quick service restaurant (QSR) services. Furthermore, rise in application of seamless payment gateway drives the growth of the market. However, lack of advanced all-in-one restaurant management software impedes the growth of the market. On the contrary, lucrative potential for the restaurant management software market is projected to flourish owing to expanding entry of subscription-based solutions offered by new companies.
The restaurant management software industry is segmented into Solution, Deployment Model and End Use Vertical.
By Solution
Purchasing & Inventory Management segment is projected as one of the most lucrative segments
Purchasing & inventory management solutions are utilized to minimize food waste and raw material tracking. The main objective of this solution is to guarantee that all supplies are accessible whenever the production department requires them, preventing production from being interrupted owing to a shortage of supplies. Therefore, assisting in retaining buffer supply of all essential items to ensure uninterrupted production chain. Restaurant supervisors are able to utilize perishable goods and purchase the necessary inventory while also cutting costs by incorporating purchasing & inventory management solution.
Cloud-based restaurant management software solutions are delivered via cloud, which is an online server. Several features are offered by cloud-based restaurant management software including inventory tracking, employee timesheets, CRM integration, and point-of-sale (POS) system, easy menu setup, managing loyalty programs, technical support, and detailed reporting.
Hospitality institutions have been exhibiting a strong presence around the world as it is driven by the positive international relations between countries. These locations offer a variety of amenities in addition to lodging, such as security, conference and event space, restaurants, and bars, all of which help boost occupancy levels.
Region-wise, the restaurant management software market trends are analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America, specifically the U.S., remains a significant participant in the global restaurant management software industry. This region's rise is attributed to a number of factors, including swift urbanization, increased disposable income, the foodservice industry's well-organized architecture, and a high degree of vendor market penetration.
North America covers U.S. and Canada. North America is projected to obtain significant share in the restaurant management software market. Rapid urbanization, rise in disposable income, well-organized architecture of the foodservice sector, and high level of vendor market penetration contribute to the growth of the market in North America.
TOP IMPACTING FACTORS
Significant factors that impact restaurant management software market growth include increase in protection of metadata, rise in adoption of digitalization along with dependency on artificial intelligence (AI). However, high initial cost of installation and maintenance, hampers the growth of the market. On the contrary, surge in market penetration in various end-use verticals is expected to offer potential growth opportunity for the restaurant management software market during the forecast period.
COMPETITION ANALYSIS
Competitive analysis and profiles of the major restaurant management software market players, such as 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.) and TouchBistro are provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the restaurant management software market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall restaurant management software market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current restaurant management software market forecast is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
- Porter‐™s five forces analysis illustrates the potency of the buyers and suppliers in the smart display.
- The report includes the market share of key vendors and restaurant management software market trends.
Restaurant Management Software Market Report Highlights
| Aspects | Details |
 By Solution |
|
 By Deployment Model |
|
 By End Use Vertical |
|
 By Region |
|
 Key Market Players | NCR Corporation, Clover Network, LLC, OpenTable, Inc., Oracle Corporation, Revel Systems, Inc., Personica (Fishbowl Inc.), TouchBistro, Jolt, HotSchedules (Fourth Enterprises LLC.), Square Capital, LLC (Block, Inc.) |
Analyst Review
Restaurant management software is a system that includes every operational and marketing element required to operate a restaurant. The purpose of a restaurant management software is to streamline marketing and operations while handling order administration, payment processing, and day-to-day problem resolution. By tracking raw materials & equipment’s, sales, and staffing data, restaurant management software also link every employee and other resources to enhance restaurant owner’s growth.
The global restaurant management software market is highly competitive, owing to the strong presence of existing vendors. Restaurant management software market vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
As more modern restaurant service technologies are adopted and quick service restaurant (QSR) offerings are increasingly embraced, the market share for restaurant management software is anticipated to expand significantly during the forecast period. The market has grown due to the expanding usage integrated payment channels. The market's expansion has been hampered by an absence of sophisticated all-in-one restaurant management software. The rising entry of subscription-based solutions provided by new firms, on the other hand, creates attractive opportunities for the restaurant management software industry to flourish.
Among the analyzed regions, North America exhibits the highest adoption rate of restaurant management software market and has been experiencing massive expansion of the market. On the other hand, Europe is expected to grow at a faster pace, predicting lucrative growth due to emerging countries, such as Germany, France and Italy, investing in these technologies. Regions, such as the Asia-Pacific & LAMEA, are also expected to offer new opportunities in the restaurant management software market, during the forecast period.
Globally, various key players and software service providers are investing in restaurant management software market to make them compatible with various industrial platforms. For instance, Oracle Corporation had launched flagship kitchen display system (KDS) restaurant management software. This solution is optimize kitchen workflows, food quality, and speed of service to enhance restaurant management software market’s growth. This completely integrated kitchen production system, which combines high levels of usability with a unified technological approach, improves the efficiency and speed of order fulfilment for restaurants showcasing lucrative growth opportunities for the market growth.
The key players profiled in the report include 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.) and TouchBistro.
The Restaurant Management Software Market will expand from 2021 - 2031 with CAGR of 15.3%.
The key players operating in the market include AlClover Network, LLC, HotSchedules (Fourth Enterprises LLC.), Jolt, NCR Corporation, OpenTable, Inc., Oracle Corporation, Personica (Fishbowl Inc.), Revel Systems, Inc., Square Capital, LLC (Block, Inc.) and TouchBistro.
The market value of Restaurant Management Software Market by the end of 2031 will be US$17,113.9 million.
The restaurant management software market share is expected to witness notable growth during the forecast period, increasing adoption of advanced restaurant service technologies and rising acceptance of quick service restaurant (QSR) services. Furthermore, growing application of seamless payment gateway has driven the growth of the market. On the contrary, lucrative potential for the restaurant management software market to flourish as a result of the expanding entry of subscription-based solutions offered by new companies.
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