Quick Service Restaurant IT Market Scope
A restaurant that serves fast food and provides services very fast by utilization new devices based on IT technologies is known as quick-service restaurant IT. QSRs are modernizing and adopting IT solutions such as digital signage, digital point of sales solutions, digital menu cards, software handheld devices, and kiosks, this enables to speed up the process and make it more convenient for the customers. Increasing adoption of mobile payment solutions and launching of restaurant applications with track mapping benefits, drives the growth of QSR IT market. This requires quick service restaurants to be equipped with a robust & up to date IT infrastructure.
According to AMA, the Global Quick Service Restaurant IT market is expected to see growth rate of 7.8% and may see market size of USD18.33 Billion by 2026.
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Quick Service Restaurant IT market throughout the predicted period.
Abcom Pty Ltd., (Australia), CAKE Corporation (United States), Cognizant (United States), Delphi Display Systems, Inc. (United States), GoFrugal Technologies Pvt. Ltd. (India), HM Electronics, Inc. (United States), Imagine! Print Solutions (United States), LG Display Co. Ltd. (South Korea), Microsoft Corporation (United States), NCR Corporation (United States), NEC Display Solutions of America, Inc. (United States) and Oracle Corporation (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Panasonic Corporation (Japan), PAR Technology Corporation (United States), Revel Systems, Inc. (United States) and Verifone Systems, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Quick Service Restaurant IT market by Type (Hardware, Software and Service), by Application (Front of House, Inventory Management, Reconciliation, Labor Management, HR Software, Data Analytics, Marketing, Restaurant Operation, Support Operation and Franchise Management) and Region with country level break-up.
On the basis of geography, the market of Quick Service Restaurant IT 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).
For the quick-service industry, FDA federal mandate requires greater transparency into the nutritional content of menu items and marks a dynamic shift in the way information is communicated to consumers. According to the government, all Indian restaurants must have self-regulations to satisfy all the guidelines as per Food Safety and Standards Authority of India (FSSAI) and FDA.
Market Trend
- Digital menu cards
- Modern kiosks with billing system
- Restaurant mobile applications with track mapping facility
Market Drivers
- Increasing number of fast food restaurants
- Growing need for accuracy in financial processing
- Emergence of adoption of advanced technology
- Fastest Home Delivery of food products and availability of mapping software
Opportunities
- Making improvement as per robust updates in IT infrastructure
- rising adoption of mobile payment solutions
Restraints
- Variations in food commodities prices
Key Target Audience
Manufacturer, Raw material supplier, Distributors/traders/dealers, Channel partners, Industry Association, Governments and investment communities and Research organizations and associations