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Demand for Better Service from Tech Savvy Consumers to Drive US Quick Service Restaurant IT Market

Blog Description

The quick service restaurant IT market in the US is undergoing rapid transformation. With the latest technologies making inroads in the restaurant industry, several leading restaurateurs in the US have shown keenness for integrating advanced devices for better monitoring and control of core operations. 

Browse the full US Quick Service Restaurant IT Market Report

For quick service restaurants (QSR), where timely delivery or order and good relations with customers are considered the core of success, incorporating the latest technologies could offer excellent improvements in delivery time and revenue alike. Furthermore, tech savvy customers nowadays prefer visiting restaurants linked to technologies enabling quicker delivery of meals and bill payments. 

A considerable number of restaurant owners are thus likely to allocate larger share of their budgets for advancements in the next few years, as they realize the manifold advantages of quick service restaurant IT. According to a report added to Market Research Reports Search Engine the quick service restaurants IT market is projected to exhibit a CAGR of 7.4% between 2016 and 2024. Rising at this rate, the market is projected to reach US$6.2 bn in 2024. Earlier in 2015, the market stood at a valuation of US$3.2 bn. 

Demand for Better Consumer Service to Augment Demand 

In response to the increasing number of quick service restaurants in the U.S., competition among the restaurant owners has soared as well. They are seeking ways for delivering the best-in-class services to meet consumer expectations. This is chiefly bolstering the adoption of digital channels for easing transaction in quick service restaurants across the country. Many of the QSRs in the U.S. are investing in updating their internal systems to make their core operations of meal orders and payments compatible with mobile wallets and near field communication. Contactless payment solutions are being tested to smoothen transactions. This is expected to create options for quick payments. 

Additionally, the rising number of smartphone users across the country has made the gadgets the central point of contact with consumers for the quick service restaurants. Thus technologies enabling ordering, payment, and purchase via smartphones is expected to find massive acceptance.

Small-sized QSRs Demand Cost-effective Customized Solutions 

The presence of several players on the U.S. QSR IT market has resulted in its high level of fragmentation. The top five companies operating in the market accounted for a share of 25% in 2015. Due to the presence of several software providers, the buyers have attained a commanding position in the U.S. QSR IT market. On the flip side, the high installation and maintenance cost and cost incurred on upgrading and hardware products makes digitization a costly affair, which could hinder the penetration of the technology across small-sized QSRs across the U.S 

Browse the full Press Release of US Quick Service Restaurant IT Market at :

Nevertheless, to overcome this challenge, leading vendors have started offering more economic customizable solutions. The technology enables using pre-existing IT infrastructure for the benefit of the business. Extended financing and cloud-based solutions are also offered in collaboration with financial institutions to gain better traction.