North American restaurant point-of-sale (POS) terminals market is estimated to grow at a CAGR of 6.8% during the forecast period. Expansion of fast-food retail outlets such as McDonald’s, Subway, Burger King, and Pizza Hut is primarily driving the demand for food retail outlets in the region. In July 2019, Subway declared that over 10,500 US Subway restaurants will be remodeled with new décor and design by the end of 2020. It is a multi-million-dollar grant program that will include nearly 25% of the redesign costs. Franchise owners are focusing on investing to remodel more restaurants in the next few years.
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Such remodeled locations will join approximately 1,400 global remodels that are already finished and nearly 900 global remodels currently ongoing. The continued transformation will enable restaurant owners to deliver a supreme guest experience. This transformation of restaurants is focused on three major initiatives, such as greater convenience, modern restaurant redesigns, and increased customer service for guests, tastes and menu options, and bold new flavors. This, in turn, will accelerate the demand for restaurant POS terminals as a part of the modernization and increase customer convenience to order and bill payments.
Scope of the North American Restaurant POS Terminals Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product, Deployment, and End-User
- Countries Covered- US and Canada
- Competitive Landscape- NCR Corp., HP, Inc., Lightspeed POS, Inc., Diebold Nixdorf, Inc., and Mad Mobile, Inc.
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Recent Strategic Initiatives in the North American Restaurant POS Terminals Market
- In August 2020, Mad Mobile, Inc. signed an agreement to acquire CAKE, a provider of restaurant technology owned by Sysco Corp. The CAKE POS solution provides service to more than 5,000 restaurant locations. This acquisition will increase the vision of Mad Mobile to offer a next-generation POS solution that features an advanced architecture and mobile capabilities. It will integrate its mobile platform with CAKE technology for delivering a mobile-first POS solution for all kinds of restaurants.
- In November 2019, NCR Corp. declared the acquisition of POS Solutions, a provider of POS and restaurant solutions in central Texas, US. This acquisition will further widen access to NCR’s restaurant technology. NCR solutions such as the NCR Aloha Essentials subscription package and signature NCR Aloha point-of-sale platform offer everything restaurants require to run their business, leverage efficiency and enhance growth. This will increase NCR capabilities to offer solutions and serve its customers in local restaurant markets, including Austin.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
North American 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
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