Market Penetration of POS Systems in the Restaurants Industry in the US
- In the United States, Point-Of-Sale systems have 97% market penetration into the restaurant market as of 2019.
- The market size of restaurant POS systems in the United States was $4.56 Billion USD in 2020.
- The largest segment by market share is on-premises deployment with a 70% market share.
In 2020, the United States restaurant POS market was valued at $4.56 billion USD with a CAGR of 6.4% between 2021 and 2028 with a 97% market penetration. Hardware and on-premises systems dominate the market with 67% and 70% segmented market shares, respectively. Additional insights into the market including a market breakdown, market drivers, and key players have been provided below.
- In 2019, only 3% of restaurants in the United States did not use a form of technology for POS capabilities indicating a market penetration of 97%.
- According to a 2019 survey, penetration in terms of vendors is as follows:
- Restaurants that use one technology vendor: 26%
- Restaurants that use two technology vendors: 23%
- Restaurants that use three technology vendors: 22%
- Restaurants that use four or more technology vendors: 26%
- The same survey also reported the most important capabilities for POS systems which are as follows:
United States Restaurant POS Market
- The Global Restaurant POS market was valued at $15.46 Billion USD in 2020 with a CAGR of 6.4% between 2021 and 2028.
- North America is the second-largest region by market share behind APAC with the United States leading the segment.
- In 2020, the United States accounted for 29.5% of the total market amounting to $4.56 Billion USD (15.46 billion*0.295).
- In the United States, 84% of restaurants stated that the POS system is the most important technology used in their business.
Market Segmentation 2020
- PAX Technology Limited
- Verifone Systems Inc.
- NCR Corporation
- Revel Systems
- Aireus Inc.
- Dinerware, Inc.
- POSsible POS
- Oracle Corporation
- ShopKeep (acquired by LightSpeed)
- Squirrel Systems
- Upserve, Inc.
- Emerging trends in the mobile and self-service kiosk segments are expected to drive growth in the market as companies shift to more affordable options.
- The Covid-19 pandemic decreased sales temporarily due to revenue loss from stay-at-home orders, however, this increased the need for online ordering systems and may have impacted the shift to mobile technologies in the POS market.