Published Date: 28-Jul-22
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According to a new report, published by KBV research, The Global Restaurant Management Software Market size is expected to reach $10 billion by 2028, rising at a market growth of 14.6% CAGR during the forecast period.
The On-premise segment is showcasing a CAGR of 13.1% during (2022 - 2028). The ability to govern data ownership and the growing worries about data security can be credited for the segment's growth. It allows in-depth protection of enterprise data, including source codes, version upgrades, and source code modification histories, and permits real-time surveillance of food service software systems.
The Full-service Restaurant (FSR) segment is leading the Global Restaurant Management Software Market by End-Use in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.86 billion by 2028. It is due to the food & beverage industry's expansion and increased per capita consumption of food services are both responsible for the segment's rise. For example, during the COVID-19 pandemic, customers used internet services more frequently and altered how they interacted with suppliers.
The Purchasing & Inventory Management segment has shown growth rate of 15.6% during (2022 - 2028). An inventory tracking option allows users keep track of how many materials they have on hand and which items are running low more quickly than others, as well as which ones need to be supplied in larger quantities. Due to the streamlined process, consumers can order from vendors more quickly.
The North America market dominated the Global Restaurant Management Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.59 billion by 2028. The Europe market is estimated to witness a CAGR of 14.2% during (2022 - 2028). Additionally, The Asia Pacific market would experience a CAGR of 15.2% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Block, Inc., Fiserv, Inc. (Clover Network, Inc.), NCR Corporation, Oracle Corporation, Revel Systems, Personica, Jolt Software, Inc., OpenTable, Inc., TouchBistro, Inc., and Fourth Enterprises LLC.
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