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Restaurant Management Software Market size is set to grow by USD 4.50 billion from 2023-2027, Growth of foodservice industry boost the market, Technavio

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NEW YORK, July 10, 2024 /PRNewswire/ — The global restaurant management software market size is estimated to grow by USD 4.50 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of  15.85%  during the forecast period. Technological advancements such as AI and IoT are significantly influencing the landscape of restaurant management software. AI enables predictive analytics for inventory management and customer preferences, enhancing operational efficiency and personalized service. IoT devices, like smart kitchen appliances and connected POS systems, streamline data collection and real-time monitoring, improving decision-making and reducing costs. These innovations are pivotal amid the industry’s shift towards digital payments and the adoption of more sophisticated management systems, despite challenges associated with transitioning from traditional methods. Key players like Block Inc., Fiserv Inc., and Microsoft Corp. are leveraging these technologies to drive market growth

Get a detailed analysis on regions, market segments, customer landscape, and companies- View the snapshot of this report

Restaurant Management Software Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 15.85%

Market growth 2023-2027

USD 4507.94 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.7

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 48%

Key countries

US, Canada, Germany, France, and UK

Key companies profiled

Block Inc., Cozy Infosystems Inc., Fiserv Inc., Fishbowl Inc., Fourth Enterprises LLC, GOFRUGAL, i3 Verticals Inc., International Business Machines Corp., Jolt Software Inc., Lavu Inc., Lightspeed Commerce Inc., Microsoft Corp., NCR Corp., Oracle Corp., Restaurant365 LLC, Revel Systems Inc., Technoheaven, Toast Inc., and TouchBistro Inc.

Market Driver

The foodservice industry’s shift towards digital transactions is a global trend, with Canada anticipating that digital payments will account for nearly 90% of total spending by 2030. To stay competitive, foodservice enterprises are integrating digital payment solutions into their operations. These solutions offer numerous benefits, such as an increase in online orders, operational ease, convenience in logistics, and a decrease in internal thefts. Restaurant management software plays a crucial role in facilitating cashless transactions, allowing businesses to capture valuable consumer data for insights and opportunities. Notable vendors in the restaurant management software market, including Clover by Fiserv, Microsoft, Square, and NCR Corp, offer contactless payment solutions. The market’s growth is expected to continue as digital transactions become increasingly common in the foodservice industry. 

The Restaurant Management Software market is experiencing significant growth due to priority given to digital solutions. Trends include digital menu boards, special dietary requests handled seamlessly, and POS systems integrating with food delivery websites like GrubHub, PostMates, and Zomato. IT budgets are seeing investments in touchscreen ordering solutions and mobile POS systems. Smartphones and internet penetration have increased disposable incomes, driving demand for AI-powered virtual assistants and IoT solutions. Cloud-based solutions from companies like ParTech, Inc, Jolt, and Brink POS dominate, offering administrative and promotional elements, order management, payment processing, and daily reconciliation. Security is a priority with data security features. Businesses focus on enhancing customer experiences and retention rates through front-end software segments, Android and iOS-based systems, and cross-platform technologies. Key players like KFC, Pizza Hut, and Domino’s are implementing voice-activated ordering systems and chatbots. 

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Market Challenges

To effectively manage customer interactions, restaurants require advanced software solutions. However, transitioning from traditional systems presents challenges. Firstly, a dedicated team is necessary for implementing and supporting the new system, adding to costs. Secondly, clear processes and security measures must be established to ensure proper implementation and data protection. Lastly, the software must align with the team’s culture and map users to the lead management applications. These challenges may hinder market growth during the forecast period.The Restaurant Management Software Market is experiencing significant growth due to increasing internet penetration and rising disposable incomes. Advanced technologies like artificial intelligence and virtual assistants are transforming the industry, with voice-activated ordering systems and chatbots becoming popular. Cloud-based solutions are gaining traction over on-premise systems, with companies like KFC, Pizza Hut, and Domino’s adopting these technologies. The front-end software segment is seeing strong demand, with Android and iOS-based software leading the way. Cross-platform technologies are essential for businesses to provide seamless customer experiences and improve customer retention rates. Administrative and promotional elements, order management, payment processing, daily reconciliation, and data security features are key functionalities. Business organizations require POS technology to enhance customer satisfaction and improve internal processes, including sales, labor, inventory data, and point-of-sale transactions. Digital transformation through web applications and mobile devices is essential to meet shifting consumer trends, offering individualized and customized services. Secured cards and data security features are crucial for maintaining customer trust. Companies like ParTech, Inc., Jolt, and Brink POS are leading the market with innovative solutions.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This restaurant management software market report extensively covers market segmentation by  

Deployment 1.1 On-premises1.2 Cloud-basedEnd-user 2.1 QSR2.2 FSR2.3 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 On-premises-  The Restaurant Management Software market is growing significantly due to the increasing demand for efficient and automated restaurant operations. This software streamlines various processes such as inventory management, table reservations, order taking, and payment processing. It helps restaurants reduce errors, save time, and improve customer satisfaction. Additionally, it provides valuable insights through data analytics, enabling better decision-making and strategic planning. Overall, it is a valuable investment for restaurant owners looking to optimize their business operations.

For more information on market segmentation with geographical analysis including forecast (2023-2027) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The Restaurant Management Software market is prioritizing digital solutions to enhance customer experiences and streamline operations. Digital menu boards are becoming increasingly popular, allowing real-time menu updates and promotions. Special dietary requests are easily managed with advanced filtering and customization features. POS systems are integrated with touchscreen ordering solutions, enabling faster service and reducing errors. IT budgets are seeing investments in mobile POS systems, food delivery websites, and restaurant review sites to expand reach and improve online presence. Smartphones and internet penetration have fueled the demand for voice-activated ordering systems, chatbots, and artificial intelligence-powered virtual assistants. Cloud-based solutions and cross-platform technologies are key trends, offering flexibility and scalability. Android and iOS-based software cater to various restaurant needs, with advancements in front-end software segment and AI integration.

Market Research Overview

The Restaurant Management Software market is prioritizing digital solutions to enhance customer experiences and streamline operations. Digital menu boards are becoming increasingly popular, allowing for real-time menu updates and promotions. Special dietary requests are easily managed through POS systems, touchscreen ordering solutions, and food delivery websites like GrubHub, PostMates, and Zomato. IT budgets and investments in cloud-based solutions, artificial intelligence, and virtual assistants are on the rise. Mobile POS systems and voice-activated ordering systems cater to the growing use of smartphones and internet penetration. The front-end software segment, including Android and iOS-based software, is seeing significant growth due to cross-platform technologies. Restaurant review sites and customer experiences are key drivers for customer retention. The cloud segment and on-premise segment each offer unique benefits, with cloud-based solutions providing flexibility and on-premise solutions offering greater control. Administrative and promotional elements, order management, payment processing, daily reconciliation, and business organization are essential features for effective restaurant management. Data security, internal processes, sales, labor, inventory data, and point-of-sale technology are crucial for maintaining customer satisfaction and experience. Digital transformation continues to shape the industry, with web applications and mobile devices becoming essential tools for restaurants. Secured cards and shifting consumer trends towards individualized and customized services are also influencing the market. Key players in the market include ParTech, Inc, Jolt, and Brink POS.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud-basedEnd-userQSRFSROthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Molex Unveils Versatile VaporConnect Optical Feedthrough Modules Enabling Thermal Management Innovations to Address AI-Driven Data Center Growth

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First-to-market, cassette-based solution for two-phase immersion cooling slashes time and cost associated with installing and upgrading hyperscale data centersPlug-and-play deployment easily connects immersion-tank optical transceivers to cabling infrastructure via fully upgradeable sealed modulesFuture-proof capabilities include flexibility to change connector types and shuffle circuit configurations without impacting mechanical interfaces or tank design

LISLE, Ill., Sept. 23, 2024 /PRNewswire/ — Molex, a global electronics leader and connectivity innovator, today introduced a thermal management solution that reduces the time and cost of deploying and upgrading high-performance data centers to meet unrelenting demand for generative AI and machine learning workflows. Molex VaporConnect™ Optical Feedthrough Modules for two-phase immersion cooling address constant increases in data center speed and capacity by leveraging a unique, cassette-based design that bolts directly onto immersion tanks and enables optical transceivers and network cabling infrastructure to be swapped out without changing mechanical interfaces or impacting immersion tank architecture. Reference designs for the new modules will be available commercially in Q1 of 2025.

“Molex continually embraces innovative optical solutions to ease data center deployments and upgrades while alleviating critical thermal management challenges,” said Trevor Smith, general manager, Optical Connectivity, Molex. “VaporConnect gives customers the flexibility to upgrade connectivity and scale cooling system designs to keep pace with data center growth by simply deploying a different module, which will accelerate upgrades while reducing overall energy, cooling and technology costs.”

Streamlining Two-Phase Immersion Cooling
Molex VaporConnect Optical Feedthrough Modules simplify the connections between optical transceivers contained within immersion tanks and cabling infrastructure that exists outside the tank using fully upgradeable sealed modules. With VaporConnect, sealing and cabling is accomplished inside the module, giving customers the opportunity to upgrade connectors without impacting immersion tank design or architecture. Additionally, customers have the flexibility to re-use standard cabling infrastructure for multiple product generations, which further reduces deployment time, cost and complexity.

A full range of industry-standard and Molex optical connector form factors are available for single- and multi-mode fiber solutions. They also feature mix-and-match functionality to facilitate system upgrades to newer or denser connectors. Customizable module footprints are available to fit specific space and application requirements. Also, Molex VaporConnect Optical Feedthrough Modules are designed to minimize external patching and shuffle requirements by leveraging Molex FlexPlane™ optical circuitry technology. As a result, complex optical shuffles and high-density fiber routing are integrated seamlessly within the module for simpler installation and plug-and-play operation.

Reliable, Versatile, Upgradeable Optical Interconnects
A sealing gasket comes with every VaporConnect module, which is thoroughly tested using industry-standard, helium-leak testing to ensure a reliable seal with the tank wall. This also assures a seamless transition from the server line cards inside the tank to outside cabling infrastructure. Testing is underway for compliance with industry-standard GR-1435-CORE.

VaporConnect modules are designed to accommodate customer specifications, with the number of fiber channels dependent on the number and type of connectors used. As many as 576 fibers can be integrated into a single module. A range of form factor options are available, including MPO, LC and very small form factor (VSFF) options, such as MMC, MDC, SN and SN-MT. This ensures conformance to existing infrastructure and streamlines system upgrades. As part of Molex’s continued investment in this area, an EBO connector option is currently in development, with availability slated for the first half of 2025.

Molex’s Commitment to Optical Network Innovations on Display at ECOC 2024
As the largest manufacturer of Optical Feedthrough Modules for two-phase immersion cooling, Molex has shipped more than 350,000 optical channels to date. At this year’s ECOC’24, Molex will reinforce its commitment to optical network infrastructure innovations with on-site product displays, including the new VaporConnect Optical Feedthrough Modules. The company’s extensive line of optical connectivity products, optoelectronics solutions and wavelength management systems also are being featured at Stand C75. As a participating member in OIF, Molex is part of an interoperability demonstration, which takes place at Booth B83, to spotlight optical networking innovations and solutions for data centers, AI/ML technologies and disaggregated systems.

About Molex
Molex is a global electronics leader committed to making the world a better, more-connected place. With a presence in more than 40 countries, Molex enables transformative technology innovation in the automotive, data center, industrial automation, healthcare, 5G, cloud and consumer device industries. Through trusted customer and industry relationships, unrivaled engineering expertise, and product quality and reliability, Molex realizes the infinite potential of Creating Connections for Life. For more information, visit www.molex.com.

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SOURCE Molex Incorporated

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CASIO Aims to Capture the Capital’s Fashion-Centric Urban Youth with its New Exclusive Store at Kamla Nagar

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NEW DELHI, Sept. 23, 2024 /PRNewswire/ — Casio Computer Co. Ltd, headquartered in Japan and the parent company of Casio India, launches its exclusive store in Kamla Nagar. With this endeavour, the brand has strengthened its retail footprint to 64 stores across India with the fifth exclusive Casio store in New Delhi.

Located in the heart of Kamla Nagar market, a vibrant hub for Delhi University students, the new Casio Exclusive store is poised to become an emblem of trendsetting timepieces, blending Japanese quality and craftsmanship with sophisticated style. The store features G-SHOCK’s Limited-Edition drops, all iconic styles of 5000, 5600, 6900, 110 & 2100 Series and the latest launches from the G-STEEL range. Customers will find timepieces that showcase precision and design—from the rugged durability of G-SHOCK to the timeless elegance of Casio watches to the sophisticated chronographs of Edifice, and the nostalgic appeal of Vintage—catering to a wide array of tastes and preferences.

Speaking about the launch, Mr. Hideki Imai, Managing Director of Casio India, said, “We are thrilled to announce the opening of our newest CASIO store in Kamla Nagar, marking our fifth milestone in Delhi and our 64th across India. This launch represents a significant step in our nationwide expansion and our commitment to engaging with the students and watch enthusiasts who frequently visit and reside in the North campus of Delhi University.

“Kamla Nagar, with its vibrant community of young, creative minds, is the ideal location for our newest store. This launch reinforces our dedication to delivering unique and immersive experiences to our consumers in Delhi NCR, aligning with their evolving lifestyles and preferences. We look forward to welcoming our customers to the new store, where they can experience a fine blend of Japanese craftsmanship, unmatched durability and trendsetting style.”

Set to open its doors to Delhi University’s fashion and watch enthusiasts who value individuality and a unique sense of style, this store promises an enthralling experience unlike any other. Located at Shop No. 33/34, Kamla Nehru Marg, Bungalow Road, the brand invites visitors to explore its newly curated space, where every corner embodies the spirit of innovation and creativity. The store is operational from 10:30 AM to 09:30 PM on all days of the week.

About Casio India Co. Pvt. Ltd.:

Casio India Co. Pvt. Ltd.(CIC) is the Indian subsidiary of Casio Computer Co., Ltd., Tokyo, Japan, one of the world’s leading manufacturers of consumer electronics and business equipment solutions. Casio India has established a dynamic presence in the Indian market since 1996, emerging as a leading and cherished consumer goods manufacturer. Casio India’s range of products includes the sales and marketing of Timepieces, Electronic Musical Instruments, Desktop Calculators, Scientific Calculators, Label Printers, and Clocks.

 Setting the benchmark for excellence, Casio India is dedicated to embodying the spirit of innovation and quality that defines the Casio legacy. With a strong commitment to its corporate creed of ‘creativity and contribution,’ Casio has consistently translated this ethos into the creation of innovative products making a positive impact on society.

For more information, visit https://www.casio.com/in/

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Hospital in Greenland chooses Sectra’s radiology solution–enhanced cross-country collaboration for improved patient care

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LINKÖPING, Sweden, Sept. 23, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra (STO: SECT B) will provide its enterprise imaging solution to Dronning Ingrids hospital (DIH) in Greenland. The solution will enhance DIH’s ongoing collaboration with hospitals in Denmark, addressing resource and subspecialty challenges, and ultimately improving patient care in the region. 

“The partnerships we have with hospitals in Denmark are highly important to us as we, being sparsely populated, struggle to recruit staff and cover medical specialties locally. To deliver care at the speed and quality we want, we need to both increase the efficiency of our internal radiology workflows and facilitate the cooperation with healthcare providers in Denmark. Sectra’s unified platform enables this by providing easy access to images, data, patient portfolio and necessary tools, along with the ability to efficiently share information,” says Cosmus Pyndt, Manager of the diagnostic and therapeutic department in the region.

DIH is Greenland’s central hospital. It is located in the city of Nuuk, also supporting 15 clinics spread around the country. The contract for Sectra’s enterprise imaging solution was signed in the second quarter of Sectra’s 2024/2025 fiscal year following a donation to the hospital from Kirsten og Freddy Johansens Fond. DIH will initially utilize the solution’s module for radiology.

“Sharing resources, expertise and workload between hospitals within a region or, as in this case, even across borders, is crucial in handling the increasing workloads in healthcare and resource shortages. Therefore, the sharing of information and images between hospitals should be efficient and easy. It is encouraging to witness the collaboration between DIH and hospitals in Denmark. The involvement of Rigshospitalet in Denmark, which went live with Sectra this summer, and particularly the expertise of Chief Radiologist Martin Lundsgaard Hansen, has been helpful in shaping this project,” says Sune Henriksen, Managing Director, Sectra Denmark.

He continues: “I am honored to support Dronning Ingrids hospital in delivering high-quality patient care, and we are excited about this new chapter for Sectra as we extend to support healthcare in Greenland.”

Sectra’s enterprise imaging solution provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in ‘Best in KLAS‘.

About Sectra
Sectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2023/2024 fiscal year totaled SEK 2,964 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.

For further information, please contact:
Dr. Torbjörn Kronander, CEO and President Sectra AB, +46 (0)705 23 52 27
Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, +46 (0)708 23 56 10

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