Quick Service Restaurant (QSR) IT Market Size, Share, Growth and Industry Analysis, By Type (Hardware, Software and Service), By Application (Large Consumers and Small Consumers), and Regional Insights and Forecast to 2032

QUICK SERVICE RESTAURANT (QSR) IT MARKET REPORT OVERVIEW

• 

   Request a Free Sample To Get More Information on this Market

The Quick Service Restaurant (QSR) IT Market size was valued at USD 16.64 billion in 2023 and is expected to reach USD 41.47 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.68% from 2024 to 2032.

The use of innovative applications and tools including; artificial intelligence, cloud, and digital payments have brought change on how QSR’s IT systems are implemented. This can be embodied by such sophisticated equipment, programmes and services that make order accuracy, speed and, customer satisfaction possible. The market analysis based on the metric of 2019-2032 entails the database of market sales, revenue, growth rate based on the geographical area, type, and use.

Moreover, the report provides information and analyses of the market by players with their market share and strategic plans. It provides the strategic outlook with precise emphasis on the macroeconomic factors such as the COVID-19 and Russia Ukraine war, threats and opportunities and investment environment. Sideways with that, topographical areas have been sheltered similar North America, Europe, Asia Pacific, Latin America and Middle East & Africa which stretches a short-lived impression around the Quick Service Restaurant (QSR) IT marketplace.

COVID-19 IMPACTQuick Service Restaurant (QSR) IT Industry Had a Negative Effect Due to supply chain disruption during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The appearance of COVID-19 had a somewhat troublesome result on the QSR IT marketplace, giving the businesses with nearly dangers and forecasts. As the COVID-19 pandemic escalated, employees and patrons practiced social distancing and contactless delivery/service options have become the standards, restaurants have heavily relied on mobile ordering, mobile payments, and delivery applications. This apprising of demand for IT structure hence prompted a surge in operational of new technologies within many QSRs relative to the enhancements in the Quick Service Restaurant (QSR) IT industry.

RUSSIA-UKRAINE WAR IMPACT

"War has been a thorn in the international relations eroding logistic supplies, inflating prices, and the scarcity of raw materials"

The Russia- Ukraine war has had some implications on the flow of imported goods mainly in areas that import most of their goods from eastern Europe. As the global raw materials and energy sources got disrupted several industries inclining the Quick Service Restaurant (QSR) IT market share got impacted with fluctuating prices and manufacturing delays. This has had a negative effect on its operational costs for QSRs all over the world since facets such electronics and raw food necessities were costly or unavailable.

ISRAEL-HAMAS WAR IMPACT

"It has further complicated regional insecurity which has impacts on trade and conducting of businesses."

The relations between Israel and Hamas have caused aggravation of the socio-political turmoil across the Middle East, thus aspiring influence on trade activities and technology advancements in the region. Though the impact was not so significant on the QSR IT market as compared to other sectors, the fluctuations in the regional economies, political instability has affected the investment and business operations. Concentration on geopolitical concerns has led to the shift of resources and efforts away from the development of technology and the necessary network, which has slowed the development of the market in the areas of interest.

LATEST TRENDS

"Higher investments in technologies and the changing consumer needs and preferences are the factors that are leading to the market’s increased digitalization."

A recent trend that has been seen to shape the Quick Service Restaurant (QSR) IT market is the integration of artificial intelligence and machine learning. Use of artificial intelligence in handling customer relations, menu recommendation and intelligent drive-through services are believed to improve the customer experience. Second, with the advancement of technologies, mobile app integrations for ordering, payment, and loyalty programs have become more or less a norm in QSR units. The increase in third-party delivery solutions combined with the KMS is also boosting the development of QSR IT landscape.

QUICK SERVICE RESTAURANT (QSR) IT MARKETSegmentation

By Type

• Hardware: This consist of Point-of-sale systems, self-service terminals and electronic menu displays. Hardware is critical in the contemporary QSRs since it creates structures for order taking, payment, and other operations.

• Software: Includes Order processing software, inventory control and customer relationship management (CRM). Business solutions help to provide efficient back-office processes and enable easier client relations.

• Service: This segment comprises of IT services such as support and installation as well as the provision of maintenance services. These are essential for QSRs that incorporate technology in the running of their businesses on a day-to-day basis.

By Application

• Large Consumers: These are huge QSR outlets which require more complex and sophisticated IT systems to support their complex activities.

• Small Consumers: Independent Quick Service Restaurant outlets need efficient and affordable IT systems that would ensure that the service delivery to the consumer is improved and business operations made more efficient.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

"This is because customers in QSRs are increasingly pressed for time hence pushing for more IT advances"

Another reason that has been seen to be fuelling the Quick Service Restaurant (QSR) IT market is the increasing clientele that requires speedy service delivery. In this regard, as customers want faster food options and shorter waiting times, QSRs have made changes in their IT capabilities including self-service kiosks and mobile order & pay. It has also rendered IT solutions as a factor central to competitiveness and the ever-increasing customer demands.

"Growth of digital payments positively affect the QSR IT market"

One of the factors is the increased use of electronic money systems in today’s world. Seeing that potential customers opt for such payments to avoid direct contact with other people, QSRs are implementing hi-tech POS and mobile payments systems into IT platforms. This trend is making the customer experience even better and at the same time; the ordering and payment process has become efficient.

Restraining Factor

"Lack of adequate capital is one of the concerns that adversely affect the implementation process of QSRs, particularly those that are relatively small in the fast-food market"

A significant threat for the Quick Service Restaurant (QSR) IT market growth is high initial investment that is required to install sophisticated IT solutions. There are also the financial issues that affect small and mid-sized QSRs in integrating technological solutions like AI Kiosks and Mobile App integration. Large operational chains have the money to invest on the advancing technologies while small business faces disadvantage in the increasing demands.

Opportunity

"The movement toward the digital platform as well as introducing automated system offers up new opportunities of expansion in QSR IT market"

This has made more firms within the QSR industry seek efficient IT solutions in their bid to make operations more efficient and customer experience more pleasant. This brings in the fresh prospects for enhancing the market of QSR IT as more of such developments as Artificial Intelligence systems, self-service kiosks and the mobile order platforms among others get implemented. This leads to a door to a variety of opportunities for IT companies to come into add values through developing and implementing tailored solutions that could increase productivity and reduced labour cost and increase customer satisfaction.

Challenge

"This has been viewed to be a major challenge due to the high costs of steering implementation especially to small QSR companies."

Even though several QSRS continue to report improve efficiencies through IT systems, the QSR IT market has challenges, especially the costs of technology adoption. Independently owned outlet that operate as a small QSR cannot always accommodate for the initial capital that is needed for equipment and software as well as the maintenance costs. This financial burden slows down the usage of new technologies hampering the expansion of the market especially for the individual restaurants.

QUICK SERVICE RESTAURANT (QSR) IT MARKETRegional Insights

• 

   Request a Free Sample To Get Analysis on Major Geographic Market

• North America

Leading market of United States Quick Service Restaurant (QSR) IT Market where there is high demand for service efficiency with value added technology solutions. Currently US-based QSRs have implemented digital ordering systems, intelligent kiosks, mobile application interfaces and hence resulting into a competent market for IT solutions in the area.

• Europe

The Quick Service Restaurant (QSR) Information Technology (IT) market is promising in Europe especially with countries like United Kingdom, Germany and France. More and more European QSRs are turning to IT solutions to adapt to the shifting customer and regulatory trends. The trend towards the use of contacts less payments, use of applications and other online ordering mechanisms has further supported market expansion in the region.

• Asia

An emerging trend in Quick Service Restaurant (QSR) IT market is the growth of Asia Pacific region especially China, Japan, and India etc. The urbanization of the region, together with the adoption of digital solutions, and a rising middle class, is putting pressure towards the optimization of QSR businesses, which induce the necessity of incorporation of IT solutions.

Key Industry Players

"Key Industry Players Shaping the Market Through Innovation and Market Expansion"

The global market for Quick Service Restaurant (QSR) IT is huge and cut-throat and a few vendors control most of its growth. Large business organizations such as NCR Corporation and Oracle Corporation are front runners in offering integrated Information Technology for QSRs throughout the world. Some of the other leading players including Panasonic and Revel Systems also provide hardware and software solutions which are specific to the QSR segment needs. These companies aim at offering customers high value services by adopting technologies in their operations and innovation as a strategic tool. This is particularly evident in the competition that is witnessed among key players in the market as the market develops since companies have to find new ways to start offering other services such as Artificial Intelligence integration as well as Cloud Services.

List of Top Quick Service Restaurant (QSR) IT Companies

• Revel Systems (U.S)
• NEC Display Solutions of America, Inc. (U.S)
• LG (South Korea)
• PAR Technology Corporation (U.S)
• Delphi Display Systems, Inc. (U.S)
• HM Electronics, Inc. (U.S)
• Verifone Systems Inc. (U.S)
• SZZT Electronics (China)
• PAX Technology (China)
• NCR Corporation (U.S)
• Cognizant (U.S)
• Panasonic Corporation (Japan)

Key Industry Development

Aug 2023: The Quick Service Restaurant (QSR) IT market is fairly young but enjoys high industrial growth presently with notable emphasis on digitalization. Some of these are implementing AI enabled tools for customer relations and automated kitchen, and the use of cloud solution for managerial tasks. These are the factors that are contributing towards improvement in the operational efficiency and in the quality service delivery at QSRs. Third, the availability of third-party delivery services that are integrated into QSR IT infrastructure has also propelled market expansion in post-pandemic market recovery.

Report Coverage

This global Quick Service Restaurant (QSR) IT market insight has taken the predicted period from 2019 to 2030 into account while focusing over both the thickness and elasticity qualities. As such, it provides information on growth trends and opportunities in the market besides giving segmental analysis based on product type and application. Further, competition on the market is analyzed, and the key players are defined with the assessment of their activity.

In addition, it considers macroeconomic factors like COVID-19 and Russia and Ukraine conflict’s nature on the business. The strategic segmentation of the markets based on regions also provides an insight to the consumption, revenue and rates of growth in each region to give a better picture on the existing market and its potential.