Quick Service Restaurant (QSR) Ecosystem Market
Quick Service Restaurant (QSR) Ecosystem Market (Digital Signage, Kiosks, Drive through terminals, Point of Sales, Handheld devices, Digital menu cards) - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019
Press Release :
Today, increasing consumer preferences has resulted to ever shifting menu landscape of quick service restaurants. The quick service restaurant industry has entered into digital era mainly due to growing consumer demands and increasing commodity cost. Until recently, innovation in quick service restaurant was primarily driven by credit card networks. However, the increasing adoption of digital devices such as signage systems, kiosks, point of sales, handheld devices and digital menu cards have fundamentally changed the nature of employee customer interaction.
The QSR (Quick Service Restaurant) ecosystem market is poised to go through intense transformation in next several years, due to entangled drivers of mobile device proliferation, rapid changes in consumer behavior resulting into new customer and merchant experience, and transition of hardware systems to cloud. These changes are expected to occur under the backdrop of innovation in kiosks, point of sales, digital menu cards, signage systems, handheld devices and software solutions and services.
The U.S. quick service restaurant market is segmented by hardware and software solutions. Hardware solutions include devices such as signage systems, kiosk, drive through terminals, point of sales, handheld devices and digital menu cards. Software solutions include billing and management solutions as well as data analytics solutions. In 2012, digital signage systems were the largest contributors to quick service restaurant ecosystem market. However, kiosks and handheld devices is expected to grow at fast rate as it allows restaurants to replace wired POS thereby allowing employers to process payments at customers table. The success of smartphones and downloadable applications has resulted into numerous innovations in point of sales systems. However, most of the small and proprietary quick service restaurants have traditional cash registers in order to accommodate customers who wish to pay by cash. Today, many of the leading players are focusing on serving broader needs of hospitality sector mainly quick service restaurants.
The key focus areas of leading players include integration of in-store systems with customer mobile devices in order to offer unique opportunities to restaurants so as to efficiently engage customers in personalized ways. Advancements in QSR ecosystem hardware are increasingly reciprocating the software innovations in order to connect and control different types of hardware peripherals. Much of the software innovation is expected to be driven by increasing adoption of cloud solutions and big data analytics, and integration of hardware devices in order to support access from multiple platforms thereby facilitating real-time transaction flows. Taken together, increasing adoption of digital platform is expected to shape the future of quick service restaurants.
The U.S. QSR ecosystem market is fragmented in nature and contains leading players such as Keywest Technology Inc., Nanonation, Inc. NEC Display Solutions Ltd., Cisco System Inc., Hewlett-Packard Company, Omnivex Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., and REDYREF Inc. among others.
The QSR ecosystem market by hardware component is divided into five major segments: signage systems, kiosks, Point of Sales, handheld devices, and digital menu card. Increasing numbers of restaurateurs are searching new ways to make their business effective and efficient. Solutions related to Customer Relationship Management (CRM), Supply Chain Management (SCM), Personnel Management, DSS (Decision Support Systems), and other aspects of the business are being explored to help optimize resource use and revenue generation. Owing to increased popularity of wireless networking coupled with decreased cost of computing, more businesses are adopting these technology driven solutions.
Digital solutions are gaining momentum in a QSR ecosystem as they provide improved accuracy, greater table turnaround, efficient customer checkout, and enhanced productivity. The QSR industry has observed increase in adoption of new generations of connected digital POS and signage systems for three specific reasons: brand building, serve customers quickly, and subsequently increase sales.
Currently, customers are increasingly using social and digital media as part of their lifestyle, quick service restaurants have been quick to recognize the need for digital and social media as medium of interaction to reach wide audience and improve their marketing. Moreover, many customers prefer QSRs with self service options, such as kiosk systems, as it reduces the waiting time. Subsequently, as the QSR industry moves towards digital technology and business intelligence solutions, the demand for POS, kiosks, handheld devices, signage systems, digital menu cards, analytical software solutions (for designing loyalty programs, targeted marketing, operations management, and others) is expected to grow.
The research report on the QSR ecosystem market in U.S. provides a detailed analysis of systems such as kiosks, digital signage systems, Point-of-Sale (POS), digital menu cards, handheld devices and helps in understanding driving forces behind the popularity of these systems in the QSR industry. It also provides an analysis of major sub-segments of the U.S ecosystem market for the next six years. The report includes extensive analysis of the industry drivers, restraints, market trends and market structure. The market study provides comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates the market based on hardware systems, software application and services. The market share analysis of the leading players of QSR ecosystem market in U.S. mentioned in the report exemplifies the scrupulous understanding of their market shares. The report includes a detailed analysis of the prevalent market situation, company profiles and industry trends for ecosystem used in quick service restaurants.
The technology segment includes in-depth analysis and forecast of hardware components, supporting software solutions, and services such as network security and cloud based services. The detailed value chain analysis and porter’s five forces analysis helps the market competitors to formulate their business strategies at every stage of their business. Moreover, the market estimates have been analyzed by keeping in mind the several factors which affect the market including but not limited to technological, economical, social, environmental and legal.
The key players of QSR Ecosystem Market have been profiled with a focus on competitive details such as company and financial overview, business strategies, and recent developments done by them. The company profiles of major players such as Keywest Technology Inc., Nanonation, Inc. NEC Display Solutions Ltd., Cisco System Inc., Hewlett-Packard Company, Omnivex Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., LG Display Co. Ltd., and REDYREF Inc. have been incorporated in this report.
The U.S. quick service restaurant (QSR) ecosystem market is segmented as follows:
U.S. Quick Service Restaurant (QSR) Ecosystem Market, by Component
- Signage systems
- Drive through terminals
- Point of sales (POS)
- Handheld devices
- Digital menu cards
- Billing solutions and management solutions
- Analytics software solutions (big data analytics)
- Services (network security and cloud based services)