The potential growth difference for the restaurant management software market forecast between 2022 and 2027 is USD 4.5 billion, according to latest figures from the United States. The growth of the food service industry drives the market growth.
Rapid urbanization across the world has significantly increased the disposable income of people. In addition, it generates job opportunities, which encourages people from rural areas to migrate to urban areas. Therefore, the demand for convenient and easy-to-prepare food products has increased due to rapid urbanization and the high participation of women in the workforce, which in turn drives the market growth.
System integration and interoperability issues significant challenges hindering market growth. There is an increase in the adoption of advanced technologies in the global restaurant industry which is leading to system integration and interoperability issues. In addition, minor system glitches can also cause considerable costs to restaurants and minimize operational efficiency. Hence, such factors hinder the market growth during the forecast period.
The market share growth by the on-premises segment is significant during the forecast period. This segment is the traditional and preferred method of installation of restaurant management software solutions. In addition, it enables the real-time monitoring of restaurant management software solutions. In addition, it ensures the complete security of enterprise data, such as source codes, and version enhancements which is fuelling the growth of this segment which in turn drives the market growth.
North America accounts for 48 percent of the market growth during the forecast period. Factors such as rapid urbanization, the well-organized nature of the food service industry, and the market penetration of companies are significantly contributing to the growth of the market in North America during the forecast period.
