LONDON--(BUSINESS WIRE)--The global restaurant management software market is expected to post a CAGR of almost 15% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing focus on improving customer relationship is driving many restaurants to run marketing campaigns to increase sales and retain customers. In addition, the rising need for large-scale client management is increasing the adoption of automation and restaurant management solutions. These solutions help restaurants to regularly follow up with their clients, build trust, and manage expectations. They also improve revenue by tracking critical tasks and reducing operational time. Moreover, restaurant management solutions automate the process of table booking and reduce workload. Owing to such benefits, the demand for restaurant management software has significantly increased among end-users, thereby driving the growth of the market.
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As per Technavio, the growing use of digital payment solutions in the foodservice industry will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Restaurant Management Software Market: Growing Use of Digital Payment Solutions in Foodservice Industry
Many players in the global foodservice industry are offering digital payment solutions to enhance processes and gain a competitive advantage in the market. This has necessitated the need for restaurant management software to facilitate the smooth operation of digital payment solutions. The software also helps restaurants understand the customers’ eating patterns, favorite meals and drinks, and ordering patterns by harnessing associated data. Restaurant owners can also leverage this information to explore new opportunities to retain and expand their customer base. This trend is expected to have a positive impact on the growth of the global restaurant management software market during the forecast period.
“Technological advances in restaurant management software solutions and the increasing number of strategic alliances will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Restaurant Management Software Market: Segmentation Analysis
This market report segments the global restaurant management software market by geography (APAC, Europe, MEA, North America, and South America) and deployment (on-premise and cloud-based).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to rapid urbanization, the well-organized nature of the food service industry, and the presence of many vendors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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