What is Online Food Ordering System Market?
Online food ordering system provides simple and convenient way to order food as it does not require visiting the restaurant. This system runs on internet which connects the restaurant with the customer. Hence, the customer visits the website or app provided by the company, selects the food items and proceeds for payments. The company provides various payment options such as debit or credit cards, cash on delivery or wallets. After, payment is done, the ordering process is completed. This system is safe and becoming popular in food industry.
The market study is being classified by Type (Mobile app and Website) and major geographies with country level break-up.
MenuDrive (United States), Toast Inc. (United States), ChowNow (United States), Upserve (United States), Square Inc. (United States), Restolabs (United States), Netwaiter (United States), iMenu 360 (United States), Gloria Food (Romania) and 9Fold (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are MenuDrive (United States) and Ordering.co(United States).
The market of Online food ordering system market is fragmented as it consists of emerging players. They are looking for new product launch or expansion to gain competitive advantage in upcoming years. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Online Food Ordering System market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Online Food Ordering System market by Type, Application and Region.
On the basis of geography, the market of Online Food Ordering System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Popularity of Online Food Delivery is Fueling the Market Growth
- Advantages Such as Ease, Speed and Precision
Market Trend
- Placing Order Using Virtual Assistants, Smart Watches and Smart TVs
Restraints
- High Costs Associated with the Initial Installments of Software
Opportunities
- Increasing Penetration of Smartphones and Internet Connections
- Lockdown Due to Coronavirus Pandemic is leading to Adoption of Online Food Ordering System by Various Restaurants
Challenges
- High Competition among the Restaurants
Market Leaders and some development strategies
On 24th July 2019, Toast has acquired StratEx which is a provider of HR and payroll software for restaurants. This acquisition helps in support of restaurant of all sizes and simplifies HR, payroll and talent management.
Key Target Audience
Online food ordering system providers, Restaurants, Government associations, Research organizations, software vendors and Others