Catering Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Deployment (Cloud and On-Premise) and End user (Caterers, Restaurants & Hotels, and Others)
The catering software 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.
Catering software manages the various business functions such as management of food processing and distribution for the catering, planning of event, and banquet management industries. This software can be used by caterers to manage bookings, plan events, plan calendar, design menus, and send bills to customers. Thereby, several benefits offered by the software are replacing spreadsheets with catering software. The software enables caterers and restaurants to plan food production according to customer demand and increase the accuracy of their deliveries. Also, it helps analyze the efficiency and quality of the delivery services. Thus, the increasing implementation of such software among the business are triggering the growth of the catering software market. Catering software can easily collect payment information, increase efficiency, send instant proposals, and enhance customer experience, which also creates the demand for the catering software.
The growing emphasis on online marketing tools, including Facebook ads and Google ads, is propelling the e-commerce industry. Facebook is a crucial platform for businesses willing to target consumers from India and Brazil, whereas to target consumers from China, We Chat is a more appropriate social commerce platform; advertisements on these software are leading to increase in online shopping platform usage, making them among the most commonly used applications. Further, catering software help enhance the visibility of e-commerce deals, thereby helping the companies to grab a massive customer base. For instance, Flex Catering offers ecommerce, a seamlessly integrated app, which helps customers order food online, and it also works as the comprehensive event management software. It allows customers to view menus, manage their accounts on the respective websites, and place orders online. Thus, the escalating popularity of e-commerce platforms is boosting the catering software market growth. However, the lockdowns due to the COVID-19 outbreak have drastically hindered businesses, which depend on physical interaction to generate revenues. Thus, several companies are now focusing on driving conversions, interactions, as well as revenue through digital channels.
The overall 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 catering software market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate 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 catering software market.
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