Restaurant Digitization Solutions Market by Type and Geography - Forecast and Analysis 2022-2026

Based on Technavio's market sizing methodology, the restaurant digitization solutions market size is predicted to surge to USD 6.56 billion from 2021 to 2026 at a CAGR of 16.27%.

This restaurant digitization solutions market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The restaurant digitization solutions market report offers information on several market vendors, including Clear Solutions, Cognizant Technology Solutions Corp., Digitory Solutions Pvt. Ltd., Flipdish Ltd., Fourth Enterprises LLC, GOFRUGAL, International Business Machines Corp., MustHaveMenus Inc., NCR Corp., Oracle Corp., Panasonic Corp., ParTech Inc., QSIME DMCC, Revel Systems Inc., Sharp NEC Display Solutions of America Inc., Snappy Innovation Inc., Sticky Menus LLC, TapHunter Inc., TouchBistro Inc., and Virtusa Corp. among others.

This report further entails restaurant digitization solutions market segmentations, including:

• Type - Software and hardware
• Geography - North America, Europe, APAC, South America, and Middle East and Africa

What will the Restaurant Digitization Solutions Market Size be During the Forecast Period?

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Restaurant Digitization Solutions Market: Key Drivers, Trends, and Challenges

The growing food service industry and changing consumer preference is notably driving the restaurant digitization solutions market growth, although factors such as complications associated with transitioning from traditional systems may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the restaurant digitization solutions industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Restaurant Digitization Solutions Market Driver

The growing food service industry and changing consumer preference is one of the key drivers fueling the restaurant digitization solutions market growth. Fundamentally, exposure to different cultures and lifestyles has enabled people to experiment with different cuisines, which has created opportunities for the growth of the global restaurant industry. Therefore, foodservice establishments are focusing on enhancing customer service, which is enhancing the demand for restaurant digitization solutions. For instance, the use of restaurant management software solutions helps in automated menu scheduling and customer contact tracing for better customer management. Also, the customer metrics provide insights into customer consumption patterns, such as how often customers visit the restaurant. Hence, the growth of the restaurant industry will drive the growth of the global restaurant digitization solutions market during the forecast period. 

Key Restaurant Digitization Solutions Market Trend

The growing use of digital payment solutions in food service industry is one of the key restaurant digitization solutions market trends contributing to the market growth. Typically, various enterprises in the global foodservice industry are offering digital payment solutions to improve day-to-day processes and gain a competitive edge over their rivals. Digital transactions offer ease, security, and reliability. Moreover, these transactions are well-documented with minimal discrepancies. The foodservice industry involves complex logistics and supply chain maneuvers. Digital solutions can manage asset tracking and transaction monitoring for real-time process management. Such advantages provided by digital payment solutions will propel the restaurant digitization solutions market growth during the forecast period.

Key Restaurant Digitization Solutions Market Challenge

Complications associated with transitioning from traditional systems is one of the limitations hampering the restaurant digitization solutions market growth. To track and analyze customer interactions in a systematic manner, vendors are dependent on advanced solutions. This eventually results in complications while transitioning from conventional systems. For instance, a core lead management software team should be formed to support the management, senior executives, customer service team, IT team, and end-users, which incurs additional costs in the incorporation of restaurant digitization solutions. Further, a defined and enforced method should be implemented to follow the correct process. Clear security measures are also required to ensure that data are not accessed by unauthorized users. These challenges will have a negative impact on the restaurant digitization solutions market growth during the forecast period.

This restaurant digitization solutions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global restaurant digitization solutions market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the restaurant digitization solutions market during the forecast period.

Who are the Major Restaurant Digitization Solutions Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Clear Solutions
• Cognizant Technology Solutions Corp.
• Digitory Solutions Pvt. Ltd.
• Flipdish Ltd.
• Fourth Enterprises LLC
• GOFRUGAL
• International Business Machines Corp.
• MustHaveMenus Inc.
• NCR Corp.
• Oracle Corp.
• Panasonic Corp.
• ParTech Inc.
• QSIME DMCC
• Revel Systems Inc.
• Sharp NEC Display Solutions of America Inc.
• Snappy Innovation Inc.
• Sticky Menus LLC
• TapHunter Inc.
• TouchBistro Inc.
• Virtusa Corp.

This statistical study of the restaurant digitization solutions market encompasses successful business strategies deployed by the key vendors. The restaurant digitization solutions market is fragmented and the vendors are deploying growth strategies such as introducing innovative, customized software solutions to compete in the market.

Product Insights and News

• Cognizant.com - The company offers digital restaurant order management where customers can order directly from restaurants instead of third-party apps.
• Digitory.com - The company offers online ordering restaurant management software for restaurants which will alert the Kitchen and delivery to run the next part of the end mile for delivery.
• Ibm.com - The company offers Blockchain solution which is a shared, immutable ledger for recording transactions, tracking assets and building trust.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The restaurant digitization solutions market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Restaurant Digitization Solutions Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the restaurant digitization solutions market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Restaurant Digitization Solutions Market?

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48% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the restaurant digitization solutions market in North America. Market growth in this region will be faster than the growth of the market in the European regions.

Rapid urbanization, the well-organized nature of the foodservice industry, and the market penetration of vendors will facilitate the restaurant digitization solutions market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 had a negative impact on the restaurant digitization solutions market growth.  However, with the initiation of COVID-19 vaccination drives, restaurant chains slowly reopened in 2021. Therefore, vendors started introducing various contactless payment suites and innovative restaurant management software that fit the new and different post-pandemic environment. These factors will drive the restaurant digitization solutions market growth during the forecast period.

What are the Revenue-generating Type Segments in the Restaurant Digitization Solutions Market?

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The restaurant digitization solutions market share growth by the software segment will be significant during the forecast period. The emergence of industry 4.0 has increased the demand for end-to-end digitization in the restaurant and hotel industry. Moreover, the growth of the foodservice industry in developing countries is another crucial factor driving the growth of the segment. Convenient service, minimal time required for meal preparation, and evolving preferences of people will positively influence the adoption of various restaurant management software and thereby leading to the restaurant digitization solutions market growth. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the restaurant digitization solutions market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Restaurant Digitization Solutions Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive restaurant digitization solutions market growth during the next five years
• Precise estimation of the restaurant digitization solutions market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the restaurant digitization solutions industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of restaurant digitization solutions market vendors

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