New York, NY 26 Sep 2019:According to a new study published by Polaris Market

Research the worldwide Restaurant POS Terminals market is anticipated to reach USD
30,966 million by 2026. In 2017, the fixed POS terminal dominated the global market, in
terms of revenue. North America is expected to be the leading contributor to the global
market revenue during the forecast period.

The rising number of cashless transactions and growing need for digital payments
primarily drive the growth of this market. POS solutions are increasingly being adopted
in the restaurant industry to increase productivity, reduce serving time, and gain business
insights. Availability of mobile devices at low costs also supplements market growth.
Other driving factors include increasing internet penetration, growing transactions
through ecommerce, and increasing advancements in technologies.

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There has been an increasing adoption of mobile POS terminals in restaurants. Mobile
POS terminals are integrated with mobile devices such as smart phones and tablets,
which offer benefits such as reduced serving time, higher workforce efficiency, while
improve customer experience. The integration of technologies such as smart card, RFID
(Radio Frequency Identification), VoIP (Voice Internet Protocol), and Wi-Fi, provides
features such as sales analytics, inventory management, employee management, invoice
management, and capture of electronic signatures. The declining prices of mobile
devices, increasing demand for portable & wearable devices, rising NFC-based
transactions, and technological advancements further supplement the growth of
restaurant POS terminals. The rising adoption of cloud-based and Android POS devices
also boosts market growth. Breadcrumb POS by UpServe is a cloud-based point of sale
(POS) solution available in the market aimed at enabling restaurants and bars to manage
customer interaction. A few features offered by the solution include tip adjustment,
logbook, and ability to spilt checks among others. This solution allows users to keep a
track of tables being served. Servers are provided with options of adding modifiers,
making notes, customizing menus, and taking orders. It also offers an ‘UpServe Live’
feature, which enables users to track restaurant and bar sales, sale of items in the
restaurant, guest count, and weekly trends.

Small business owners are investing in effective POS terminals to increase overall
profitability. BarTab is an on-premise point of sales solution available in the market. This
solution is especially developed for small to midsize businesses. The features offered by
this solution include stock management, cloud-based till records, and sales analysis.
BarTab maintains a record of till reports and provides notifications upon variation. It also
maintains a detailed report of current stock levels and average weekly sales. Users can
track orders and communicate with staff members for providing enhanced services to
customers. TouchBistro is a popular POS solution available in the market. It is an iPad-
based point of sale (POS) solution catering the needs of all kind of restaurants. It offers
food service specific features along with advanced management capabilities. The
solution offers mobility, which enables payment of bills and order placement at the
tables, thereby enhancing customer experience. TouchBistro also offers capabilities to
split-checks, print or email receipts.

North America generated the highest revenue in the market in 2017, and is expected to
lead the global market throughout the forecast period. The high consumption of fast
food in North America boosts the restaurant industry in the region, thereby increasing
the need to simplify transactions and increase efficiency in restaurants. The government
in the region encourages consumers to adopt EMV-enabled devices. These devices offer
additional security and minimize breaches and frauds in digital payments.

The different types of POS terminals used in restaurants include fixed POS terminals and
mobile POS terminals. In 2017, fixed POS terminals accounted for higher market share
owing to cost efficiency and time effectiveness. Fixed POS terminals can be easily
connected to hardware like PCs and printers, and are ideal for use at places with high
transaction volume. Mobile POS terminals are expected to grow at a higher CAGR
during the forecast period owing to owing to increasing demand for wireless
technologies. These solutions enable users to boost customer interaction by reducing
waiting time, and offering mobility services. The demand for mobile POS terminals has
increased in small restaurants, bars, and cafes owing to low costs associated with them,
and increasing use of mobile devices such as smartphones and tablets for increasing
efficiency.
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