July 8, 2020

Impact of COVID-19 on Quick Service Restaurant (QSR) Ecosystem Market: Implications on Business

Transparency Market Research (TMR) has announced the publication of a new market research report on the U.S. quick service restaurant (QSR) ecosystem market. The report states that the U.S. quick service restaurant (QSR) ecosystem market was valued at US,506.9 million in 2012. However, this market is expected to grow at a tremendous rate from 2013 to 2019. The report, titled “Quick Service Restaurant (QSR) Ecosystem Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, offers an in-depth understanding of the U.S. quick service restaurant (QSR) ecosystem market, its growth drivers, market restraints, and possible opportunities in the coming future. In recent years, QSR systems have been adopted in restaurants as they allow seamless listing of orders in restaurants, making payments, and quickly delivering food to customers. The minor enhancements in QSRs are also helping restaurants bring in a huge amount of accuracy, efficiency, clarity, and speed in their everyday operations.

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The U.S. quick service restaurant (QSR) ecosystem market is segmented on the basis of hardware, software, and services. The hardware segment is further divided into signage systems, kiosks, drive through terminals, point of sales (POS), handheld devices, and digital menu cards. Analysts predict that as the trend of self-service grows in the service industry, the kiosk sub-segment will grow the fastest, at a CAGR of 12.3% from 2013 to 2019. The software segment is sub-segmented into billing solutions and management solutions and analytics software solutions (big data analytics). Out of these, billing and management solutions was the largest market segment in 2012. This sub-segment will continue to lead the market, as there is a significant demand for tailored software needs from various restaurants.

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The key players in the U.S. quick service restaurant (QSR) ecosystem market are looking at methods that will help them integrate in-store systems with customers’ mobile devices to create a unique personalized experience. Innovations in QSR ecosystem hardware have complemented software innovations by assisting in controlling and connecting different kinds of hardware peripherals. The recent software innovations in the quick service restaurant (QSR) ecosystem market are being encouraged by popular usage of cloud solutions and the integration of hardware devices, which allow access from other platforms to bring about real-time transactions. To put it simply, increasing dependence on digital platforms to establish efficiency in management is expected to lead the quick service restaurant ecosystem market.Some of the major players in the U.S QSR ecosystem market are LG Display Co. Ltd., Cisco System Inc., Keywest Technology Inc., Nanonation, Inc. NEC Display Solutions Ltd., Hewlett-Packard Company, Samsung Electronics Co. Ltd., Omnivex Corporation, Panasonic Corporation, and REDYREF Inc.

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