The global restaurant point-of-sale (POS) terminals market is estimated to grow at a CAGR of 7.8% during the forecast period. Expansion of food outlets and emerging demand for advanced payment options in the restaurants are primarily leveraging the adoption of POS terminals. An increasing number of food outlets have been witnessed owing to the rising shift towards western-style diets. Several major food outlets such as McDonald’s, Domino’s Pizza, and Pizza Hut have been reported expansion across the globe to meet the increased consumption of fast foods across the globe. For instance, in April 2020, McDonald’s Corp. declared its plans to expand in Russia’s far east in December 2020. This aims to open restaurants in cities including Vladivostok and Khabarovsk for the first time.
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In 2020, McDonald’s Corp. is continuing to actively invest in Russia’s economy and increase its presence on the market. The expansion of these food retail outlets is driving the demand for POS terminals that supports manage restaurant sales, improve & enhance customer service, manage inventory, control finances, and facilitate marketing. The system facilitates communications between the kitchen and the wait staff. McDonald’s Corporation serves more than 68 million customers every day. With the use of Amazon Web Services (AWS), McDonald’s can complete 8,600 transactions per second through its POS system. In 2016, McDonald’s Corporation using AWS to support McDonald’s build a secure, scalable digital platform.
Since later, McDonald’s has increased its digital capabilities globally through Mobile Order and Pay, and Delivery, Kiosks, and Digital Menu Boards. In 2019, McDonald’s Corp. acquired Dynamic Yield Ltd. a provider of personalization and decision logic technology. McDonald’s will use Dynamic Yield decision technology to offer a more personalized customer experience through changing outdoor digital Drive Thru menu displays. This will enable McDonald’s to display food based on trending menu items, time of day, current restaurant traffic, and weather. With the use of data, Dynamic Yield decision technology can also promptly recommend and display additional items to the order of customers according to their current selections. This will support McDonald’s to become one of the first companies that combined decision technology into the customer POS at a brick and mortar location. In 2018, McDonald’s tested this technology in multiple US restaurants.
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Global Restaurant POS Terminals Market Segmentation
By Product
- Fixed
- Mobile
By Deployment
- Cloud-Based
- On-Premise
By End-User
- Full-Service Restaurant (FSR)
- Quick Service Restaurant (QSR)
- Institutional
- Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
