United States (US) Restaurant Point-of-Sale (POS) Terminals Market to Register a Revenue of USD 8511.69 Million by 2030; Rising Number of Restaurants in the Country and the Need to Omit Billing Error to Drive Market Growth

New York, Feb. 17, 2022 (GLOBE NEWSWIRE) — According to the statistics by the U.S. Bureau of Labor Statistics (BLS), the number of establishments in private food services and drinking places in the United States grew from 565632 numbers in the year 2011 to 656017 numbers in the year 2020. Moreover, the current total marketable US restaurants and other eating places business, according to the statistics by the North America Industry Classification System (NAICS), recorded 658920 numbers. On the other hand, according to the statistics by the National Restaurant Association, the total sales of the restaurant industry grew from USD 590 Billion in the year 2010 and reached USD 833 Billion by the end of 2018. This is further expected to touch USD 1.2 Trillion by the end of 2030.

Research Nester has recently released a report titled “United States (US) Restaurant Point-of-Sale (POS) Terminals Market: Demand Analysis & Opportunity Outlook 2020-2030” which is studied for the forecast period, i.e., 2021-2030. The report includes a brief analysis of the recent market advancements, along with a competitive analysis of the key market players who are operating in the market. The report also focuses on the growth strategies of these players and further focuses on their product offerings.

With the growing number of restaurants serving in the United States and their increasing sales, there is a surge in need for computing systems, such as POS systems, amongst the restaurant owners that can help drive sales and further facilitate operational efficiency. The United States (US) restaurant point-of-sale (POS) terminals market is expected to grow with a CAGR of 6.85% during the forecast period, and further generate a revenue of USD 8511.69 Million by the end of 2030. Moreover, in the year 2020, the market garnered a revenue of USD 4288.58 Million.

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One of the major factors which is driving the need for POS systems amongst restaurant owners is to reduce billing error, especially during peak periods. Moreover, with the growing preferences for food away from home amongst the household individuals in the country, which according to the statistics by the Economic Research Service of the U.S. Department of Agriculture (USDA), grew from USD 265069.44 Million in the year 1997 to USD 759774.88 Million in the year 2019, and increasing urban population in the country, the share of which according to the statistics by the World Bank increased from 79.057% in the year 2000 to 82.664% in the year 2020,  the footfall in restaurants is expected to grow significantly. This is also anticipated to drive the need for POS systems in restaurants in the coming years.

The United States (US) restaurant point-of-sale (POS) terminals market is segmented on the basis of region into South U.S., West U.S., Middle West U.S., and North East U.S. Amongst the market in these regions, the market in South U.S. is anticipated to grow with a CAGR of 6.92% during the forecast period and further generate a revenue of USD 2863.31 Million by the end of 2030, up from a revenue of USD 1432.63 Million in the year 2020. On the other hand, the market in West U.S. is expected to grow with the highest CAGR of 7.45% during the forecast period and attain a market revenue of USD 2048.18 Million by the end of 2030, up from a revenue of USD 975.74 Million in the year 2020.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

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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 which, 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 segment is further expected to grow with a CAGR of 7.65% during the forecast period. Alternatively, the cloud POS system is anticipated to grow with the highest CAGR of 10.11% during the forecast period.

The United States (US) restaurant point-of-sale (POS) terminals market is also segmented by restaurant type into quick service restaurants (QSR), full-service restaurants (FSR), and others, out of which, the full-service restaurants (FSR) segment registered the largest revenue of USD 1603.06 Million in the year 2020, and is further expected to generate a revenue of USD 3597.29 Million by the end of 2030, by growing with the highest CAGR of 7.59% during the forecast period.  One of the major factors expected to drive the growth of the segment is the rising preference for these restaurant types, as these types of restaurants offer leisure dining to their customers, allowing these customers to spend longer quality time with their loved ones. In the other report by the USDA, in the year 2019, full-service restaurants captured 34.5% of the share of food-away-from-home spending in the United States. The FSR segment is further divided into casual dining, family-style, upscale dining, and fine dining. Amongst these segments, the casual dining segment is projected to generate the highest market share and further attain revenue of USD 2501.93 Million by the end of 2030, up from a revenue of USD 1140.62 Million in the year 2020. The family-style segment, on the other hand, is anticipated to grow with the highest CAGR of 8.52% during the forecast period.

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The United States (US) restaurant point-of-sale (POS) terminals market is further segmented by deployment mode, and by enterprise size.

United States (US) Restaurant Point-of-Sale (POS) Terminals Market, Segmentation by Deployment Mode

United States (US) Restaurant Point-of-Sale (POS) Terminals Market, Segmentation by Enterprise Size

• Small & Medium Enterprise
• Large Enterprise

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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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