Facts and Factors Market Research has published a new report titled “Catering Software Market By Deployment Mode (Cloud-Based and On-Premise): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
According to the report, the global catering software market is anticipated to be valued at approximately USD 213 million in 2018 and is projected to hit the revenue of around USD 730 million by 2027, at a CAGR of around 14.6 % between 2019 and 2027.
Catering software helps the caterers to organize everyday business activities in a proficient manner. It also helps in integrating functions such as invoicing, booking options, catering management, and delivery procedures. The software also assists in effective & accurate distribution of information to the customers.
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Moreover, the growing prominence of online catering activities among the catering service is likely to boost the sales of the catering software over the forecast period. Apparently, web-based food suppliers make use of the catering software to form a partnership with food distribution vendors for delivering food services at events organized by corporate houses.
Growing trend of using cloud-based software to steer the market growth
The catering software industry is likely to gain traction over the forecast timeframe due to massive usage of cloud-based software in the catering business. Moreover, cloud-based software helps in effectively handling the data as well as retrieve the data from distant servers. Furthermore, catering cloud POS system can function from distant servers and does not have to incur any deployment costs. It also blends with analytics, loyalty management, CRM, and inventory management to make system comprehensive, thereby attracting more customers and propelling the expansion of cloud-based catering software market.
Furthermore, CRM software offers information on wastage of food, profit-making food outlets or stores, and staff attrition. These beneficial features of the software will propel the market trends over the forecast timeline.
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Cloud-based deployment mode segment to dominate the overall market share
The cloud-based deployment mode segment is predicted to accumulate revenue of nearly USD 390 million by 2027. Apart from this, the segment is expected to record the highest CAGR during the period from 2019 to 2027. The growth of the segment can be attributed to the massive demand for cloud catering software as the cloud solutions are cost-efficient and flexible.
North America to lead the overall market revenue during the forecast timeframe
North American market is projected to amass the revenue worth USD 279 million by the end of the forecast period. The growth of the catering software market in the region can be attributed to massive awareness about the new catering technologies along with high internet speed as well as catering software penetration in the region. The U.S. is likely to be the major regional revenue contributor over the forecast timeline.
Furthermore, the Asia Pacific market is predicted to register the highest CAGR of 15.3 % during the period from 2019 to 2027. The regional market growth can be credited to growing innovation & integration activities taking place in the catering software.
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Key players involved in the catering software industry include CaterTrax, Inc., CaterZen by Restaurant & Catering Systems, Gather Technologies, Inc., Horizon Business Services, Inc., Infor, OPTIMO software, Pxier, and Total Party Planner.
This report segments the catering software market as follows:
Global Catering Software Market: By Deployment Mode Segment Analysis
Global Catering Software Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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