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Catering Software Market is hitting $519.14 Million, Globally by 2027 at 14.4% CAGR: The Insight Partners

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Catering Software Market is hitting $519.14 Million, Globally by 2027 at 14.4% CAGR: The Insight Partners

November 26
17:53 2021
Catering Software Market is hitting $519.14 Million, Globally by 2027 at 14.4% CAGR: The Insight Partners
The Insight Partners
Catering Software Market is emerging with Increasing Integration of Payment Gateway & Growing Popularity of E-Commerce Platforms by 2027

According to The Insight Partners’ latest market study on “Catering Software Market Forecast to 2027 – COVID-19 Impact, and Global Analysis – by Type (Cloud and On-Premises) and End User (Caterers, Restaurants and Hotels, and Others),” the market was valued at US$ 184.29 million in 2019 and is projected to reach US$ 519.14 million by 2027; it is expected to grow at a CAGR of 14.4% from 2020 to 2027. 

Market Size Value in – US$ 201.93 Million in 2020

Market Size Value by – US$ 519.14 Million by 2027

Growth rate – CAGR of 14.4% from 2020-2027

Forecast Period – 2020-2027

Base Year – 2020

No. of Pages – 139

No. Tables – 56

No. of Charts & Figures – 70

Historical data available – Yes

Segments covered – Deployment and End user

Regional scope – North America; Europe; Asia Pacific; Latin America; MEA

Country scope – US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage – Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Get Exclusive Sample Pages of Catering Software Market at https://www.theinsightpartners.com/sample/TIPRE00012438

Machine Learning to Revolutionize Catering Business

In the catering industry, the inadequacy of area mapping, and imbalance between demand and resource availability lead to several challenges. Machine learning and Artificial Intelligence (AI) are the foundations of the next-generation catering technologies. These technologies enable systems to learn from recorded data, which comprise algorithms, patterns, and predictive insights. Several online food delivery companies are adopting the machine learning technology to enhance their catering business and increase their businesses’ efficiency. For instance, Deliveroo, a UK-based food delivery company, invests in advanced technologies such as machine learning to stay competitive in the market by offering more effective food delivery service. Glovo, a Spain-based food delivery company, also uses machine learning to forecast the probability of remaining active on the app. Thus, the integration of machine learning in catering businesses is projected to boost the demand for catering software during the forecast period.

Impact of COVID-19 Pandemic on Catering Software Market

Following the global outbreak of the COVID-19 pandemic, some businesses have been forced to scale back their operations due to various containment measures issued by governments around the world. The virus’s rapid spread has prompted governments around the world to place stringent restrictions on the movement of people and vehicles. Businesses that rely on physical interaction to generate revenue have been severely harmed by the lockdowns. As a result, some businesses are concentrating on increasing conversions, interactions, and revenue through digital media.

Strategic Insights:

Players operating in the catering software market are mainly focused on the development of advanced and efficient products.

  • In 2020, CaterZen invested programming hours since the beginning of March to confirm restaurants and caterers can continue operations by strong focusing on online ordering and food delivery.
  • In 2020, Flex Catering Introduced catering KDS (Kitchen Display System) which is a type of a digital screen that replaces printed or handwritten ticket orders in restaurants and food businesses.

 

The travel and tourism industry is experiencing rapid growth over the years and the region ranks second after Europe by recording the most international tourist arrivals. Increasing purchasing power, growing air connectivity due to rising number of airports, relaxed visa norms, and better exchange rate are among the factors attracting tourists from Europe and North America.

Countries such as India, Vietnam, Malaysia, Indonesia, Philippines, and Australia are experiencing significant number of tourists. Also, countries such as Sri Lanka and Nepal are registering double digit of growth rate in tourism. Meanwhile, APAC is characterized by the presence of the large number of young population coupled with rising deposable income, which is the major factor propelling the tourism industry in this region. Further, fast food restaurant chains are heavily investing in Malaysia, China, India, Indonesia, and South Korea owing to the growing food service industry in this region. Thus, growing rate of tourism in Asia Pacific, increasing inclination of population toward restaurant dining, rising trend of multicultural cuisine, and surging adoption rate of digitization and advanced technologies in this region are anticipated to drive the growth of the catering software market in APAC during the forecast period.

 

Order a Copy of Catering Software Market Shares, Strategies and Forecasts 2021-2027 Research Report at https://www.theinsightpartners.com/buy/TIPRE00012438

 

 

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Sameer Joshi

E-mail: [email protected]  

Phone: +1-646-491-9876

More Research: https://professionaldoordealer.com/author/theinsightpartners/

Media Contact
Company Name: The Insight Partners
Contact Person: Sameer Joshi
Email: Send Email
Phone: +1-646-491-9876
City: Pune
State: Maharashtra
Country: India
Website: https://www.theinsightpartners.com/pr/catering-software-market/