MENA Restaurant Management Software Market
Rise in the adoption of quick service restaurant (QSR) services primarily drives the growth of the global restaurant management software market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 12, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, the MENA restaurant management software market was valued at $93.78 million in 2021, and is projected to reach $233.07 million by 2027, registering a CAGR of 16.5%.
Modern restaurant software systems combine the capabilities of a computer with a checkout counter in the restaurant business, enabling them to process credit card payments, generate receipts, visualize data on a user-friendly screen, and perform service station responsibilities. A centralized digital ordering system known as a kitchen display system (KDS), helps streamline communication and efficiency in both, front-of-the-house (FOH) and back-of-the-house (BOH) throughout most eatery establishments by replacing paper tickets in the kitchen at the back end. Due to technological advancements, restaurant management software is being implemented in numerous eating & dining end-use sectors.
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The key factors such as rapid modernization and increasing number of disputes are driving the growth of the intellectual property software market. However, rise in costs associated with protection and enforcement is hampering the market growth. On the contrary, rapid digitalization is expected to provide lucrative opportunities for market growth during the forecast period.
Depending on deployment type, the on-premise segment held the highest market share in 2022, accounting for more than two-thirds of the global intellectual property software market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that on-premise solutions allow companies to have greater control over data and intellectual property, thus reducing concerns in relation to data breaches and compliance issues. Therefore, the demand and use of in-premise solutions is more as compared to cloud solutions. However, the cloud segment is projected to register the highest CAGR of 17.9% from 2022 to 2032. This is attributed to the fact that the cloud technology is increasingly integrating with upcoming technologies such as artificial intelligence (AI) and machine learning (ML). These technologies are helping to enhance patent search capabilities, prior art analysis, and automating intellectual property tasks.
By application, the licensing segment held the highest market share in 2022, accounting for nearly one-third of share in the global intellectual property software market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that subscription and usage-based licensing models are getting popular. In addition, the filings of intellectual property are growing at an increasing rate and therefore, businesses and organizations are increasingly relying on intellectual property software for efficient management and tracking of license agreements. However, the patent management segment is projected to register the highest CAGR of 20.5% from 2022 to 2032. This is attributed to the fact that large-, medium-, and small-scale companies are growing globally at an increasing rate and are demanding patent management software to secure their rights to ownership of their patents.
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As per the industry vertical, the IT & segment held the largest share in 2022, thus contributing to more than one-fourth of share in the intellectual property software market and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the fact that IT & telecom industry is a highly innovative industry and the IT and software companies require IP software to protect their assets from time to time. However, the manufacturing segment is expected to portray the largest CAGR of 22.5% from 2022 to 2032 and is projected to maintain its lead position during the forecast period. This is attributed to high amount of physical products generated and produced in the manufacturing segment, thus demanding intellectual property software to protect their assets.
Leading Market Players: –
• Clarivate Plc
• Patsnap,
• Anaqua Inc.
• LexisNexis (RELX)
• Alt Legal Inc.
• Patseer Technologies Limited
• Questel,
• Patrix AB,
• Flextrac
• Innovation Asset Group, Inc.
The report provides a detailed analysis of these key players in the global intellectual property software market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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1. Cloud-Based Solutions
• Like in many regions, the MENA market is seeing a shift towards cloud-based restaurant management software. This offers several advantages such as scalability, remote access, and cost-effectiveness.
2. Mobile Ordering and Payments
• With the rise of smartphone usage across MENA countries, restaurants are increasingly adopting mobile solutions for ordering and payments. This includes apps that allow customers to order ahead, pay digitally, and even earn rewards.
3. Integration with Delivery Services
• Delivery and online ordering have become essential for restaurants, especially during the pandemic. Software that integrates seamlessly with popular delivery platforms like Talabat, Zomato, or Deliveroo is in high demand.
4. Data Analytics for Decision Making
• Restaurants are recognizing the value of data analytics in understanding customer preferences, optimizing menus, managing inventory, and improving overall operations. Software that offers robust analytics features is gaining popularity.
5. Contactless Solutions
• Post-pandemic, there’s a continued demand for contactless solutions. This includes everything from contactless payments to digital menus and QR code ordering systems.
6. Table Management and Reservation Systems
• Especially in upscale restaurants or during peak times, efficient table management and reservation systems are crucial. Software that helps optimize seating, manage waitlists, and track reservations is in demand.
7. Inventory and Supply Chain Management
• Given the challenges of importing certain ingredients in the MENA region, software that helps manage inventory, track ingredients, and optimize supply chains is becoming more important for restaurants.
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