Industry Background:
To enhance the hospitality services as well as customer relationship management the hotel management software are introduced to the market. That enables the hotel staff from managing rooms to serving orders as well as in helps in preparing automated bills. Due to open source application development and minimum initial investments, number of software companies are trying to enter in the restaurant management software market.
According to AMA, the market for Restaurant Management Software is expected to register a CAGR of 9.5% during the forecast period to 2026. This growth is primarily driven by Assists in Process Speedup, Projects Accurate and Daily Revenue Reports and Easy Integration of Various Departments.
Globally, a noticeable market trend is evident Service Automation
. The Hotels, Resorts & Cruise Lines sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as TToast POS (United States), Comcash (United States), Brigade (India), CrunchTime (United States), PeachWorks (United States), Epicor (United States), Schedulefly, Inc. (United States), Ordyx (United States), Upserve (United States) and Marketman (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
The Oyo Hotels founder has commented that the five-year-old startup for booking hotel rooms, is aiming to become the world's largest hotel chain and hotel management software by 2023 as it expands into newer countries in the Middle East, South East Asia and Europe. The company has began with one hotel in Gurgaon in 2013, has grown to over 330,000 rooms in 500 cities globally. While India was its first playground, it now has more rooms in China.
Market Drivers
- Assists in Process Speedup
- Projects Accurate and Daily Revenue Reports
- Easy Integration of Various Departments
Market Trend
- Service Automation
- Location Based Services
Restraints
- Maximum Power Consumption
- Increased Waiting Time in case of Power Interruptions
Opportunities
Increasing Prevalence in Developing Economies and Increased User Friendliness
Challenges
Skilled Workforce Required and Rising Instances of Cyber Security Attacks
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Restaurant Management Software Study Sheds Light on
The Restaurant Management Software Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Restaurant Management Software industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Restaurant Management Software industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.