U.S. Quick Service Restaurant (QSR) Ecosystem Market, By Component (Hardware (Signage Systems, Kiosks, Point of Sale, Handheld Devices, Digital Menu Card, Drive Through Terminals), Software (Billing and Management, Analytics Software Solution), Service) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Aug 2020

Code : CMI4060

Pages :120

Formats :

Excel and PDF

Industry : Food and Beverages

Market Challenges And Opportunities

Drivers:

Increasing adoption of the data-centric business model in the QSR ecosystem is driving the market growth. Use of such business model to track voided and purchased items at the point of sale. The data-centric business model also offers a key competitive edge and due to this most of the restaurants are likely to adopt this system in the near future. For instance, McDonald's is continuously pursuing big data analysis to optimize the drive-thru experience.

Increasing preferences for fast food among X, Y, and Z generation is expected to propel the market growth of U.S. quick service restaurant. Factor such as good taste, convenience, and economical in term of time as well as cost is also acting as a catalyst in the growth of the quick-service restaurant market. Moreover, changing lifestyle of the consumer along with the increasing purchasing power is again anticipated to propel the market growth.

Market Restraints

High costs associated with the QSR ecosystem devices are expected to restrict the market growth over the forecast period. For instance, the average price of black menu boards ranges from USD 30 to USD 140. However, the average price of digital signage systems ranges from USD 9,000 to USD 17,000.

Security concerns associated with the data breaches due to network connectivity is one of the major factor hampering the market growth of U.S. quick-service restaurant.

Market Opportunities

Various restaurants have started offering various other services such as take-out, home delivery, and drive-thru which are high in demand across consumer living modern lifestyle. This factor is expected to provide potential market opportunities over the forecast period. Moreover, the shifting preferences among customer towards dinning at home is further expected to contribute to creating demand for home delivery services.

A growing number of restaurants offering vegetarian foods due to veganism is expected to offer lucrative market opportunities. Moreover, increasing adoption of advanced technology such as kitchen-display screens, touchscreen point of sales terminals, and self-order kiosks is again anticipated to foster the market growth of the U.S. quick-service restaurant. All these factors will favor the market growth over the forecast period.

Figure 2. U.S Quick Service Restaurant (QSR) Ecosystem Market– Opportunity Analysis