The catering software market in North America is expected to grow from US$ 70. 60 million in 2020 to US$ 155. 40 million by 2027; it is estimated to grow at a CAGR of 11. 9% 2020-2027. The increasing integration of payment gateway is bolstering the growth of the market.
New York, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Catering Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type and End User" - https://www.reportlinker.com/p06103255/?utm_source=GNW
The payment gateways are broadly used in cashless transactions, and they allow online retail platforms to collect cash via consumer’s bank, without compromising sensitive data. The gateways are becoming increasingly popular with the flexibility to buy products and ability to facilitate smooth delivery at consumer’s place. Growing use of smartphone devices in the market is one of the key factors boosting the adoption of payment gateways systems. Online payment system providers are collaborating with several catering software companies to provide secure and reliable services. Online payments are relatively popular as most consumers use mobiles to pay for goods. Several popular e-payment options are used for mobile digital purchases. Payment gateway companies in these countries offer comprehensive e-payment solutions to various catering software providers to catch with the wave of technological developments. Further, the market growth is attributed to the advancements in payment gateway technology and an increase in the number of mobile wallets being launched. The rising integration of catering software into payment gateway systems and continuous improvements in billing methods fuel the demand for these software, which is further driving the growth of the North America catering software market.
North America is one of the most important regions for the adoption and growth of new technologies owing to favorable policies of government to boost innovation, the presence of a huge foodservice industry, and high purchasing power of consumers, especially in developed countries such as the US and Canada.Hence, any hindrance on the growth of industries adversely affects the economic growth of the region.
Presently, the US is the world’s worst-affected country due to the COVID-19 outbreak.It is a prominent country for catering software market players.
To contain the spread of novel coronavirus, the government imposed travel restrictions and lockdowns.Owing to these measures, the foodservice industry is majorly disrupted.
Hence, owing to significant decline in revenue generation in the foodservice industry, the adoption of catering software was declined. However, to revive the economy, containment measures are now relaxed and revenue generation by the foodservice industry started to pick up pace. Also, restaurants and hotels are picking up pace in terms of revenue generation. Thus, the catering software market in North America is anticipated to gain traction by the end of first quarter of 2021.
Based on deployment type, the cloud segment led the mineral insulated heating cables market in 2019.The deployment of cloud-based catering software incurs lesser deployment costs, which contributes to a larger share of this segment in the total market.
The majority of the catering software market players offer cloud products owing to the rising demand for the same.In addition, the internet infrastructure has matured in developed, as well as in several developing, countries, which is allowing end users in these countries to access the cloud-based software.
Catering software developers are continuously investing in the development of robust and secured cloud-based software that protect customer data.In September 2020, Flex Catering, one of the companies offering cloud, real-time Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP) systems for catering business management, announced the first-ever catering Kitchen Display System (KDS).
Such strategies ultimately drive the growth of the North America catering software market.
The overall North America catering software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the North America catering software market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America catering software market. Aptus Systems Ltd.; Better Cater, Inc; Caterease Software; Catertrax, Inc.; CaterZen; Flex Catering; FooStorm Catering Software (Caterxpress); Curate, Profit Systems Inc.; and Pxier are among the players operating in the market.
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