South Africa Hospitality Point Of Sale Software Industry Overview
The South African hospitality point of sale software market size was valued at USD 71.0 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.7% from 2021 to 2028.
The growing demand for POS solutions integrated within restaurant/hotel management systems for streamlining operations is expected to drive market growth. POS solutions allow POS devices to perform multiple tasks, from financial tracking to back-of-the-house ordering. It also helps restaurants with loyalty programs and sales tracking, inventory monitoring, along with managing crucial customer data simultaneously, which is triggering the market growth. Although the POS solutions offer multiple advantages, the decline in South Africa's hospitality industry business due to the COVID-19 pandemic negatively impacted the demand for hospitality POS software in 2020. The market was expected to witness growth in 2021. However, the second wave of the pandemic slowed the market recovery, and currently, the third wave of the pandemic is expected to further negatively affect the hospitality industry.
Gather more insights about the market drivers, restrains and growth of the South Africa Hospitality Point Of Sale Software Market
In the hospitality industry, especially in hotels, POS systems are used to manage transactions at minibars, travel desks, and spas, among others. The POS system at the hotels can act as a standalone system or can be integrated with the property management solution to provide a complete hotel technology solution. The features of the POS software include billing, customer management, order management, labor management, inventory management, loyalty program management, and reporting and analytics, among others. The POS software helps, the hospitality industry to increase its operational efficiency and enhance the guest experience. The aforementioned features and added advantages of integrating POS software are expected to boost the market growth.
For restauranteurs in South Africa, POS expenditures are consistently the largest line items. By transforming tablets and smartphones into POS terminals, restaurants can reduce costs and improve the efficiency of their establishments. The POS terminals with integrated suitable software drive traffic and eliminate wait times at checkout, minimize security risks and enhance customer confidence, and reduces equipment and hardware costs. The POS software is used in restaurants to efficiently perform front-end and back-end applications such as table management, kitchen management, inventory management, delivery management, back-office reporting and analytics, and planning and scheduling.
The growth rate of the hospitality industry was adversely impacted due to the COVID-19 pandemic. The pandemic claimed millions of lives and forced people to stay indoors and the governments including the government of South Africa imposed strict lockdowns. The restrictions on movement and the shutdown of restaurants and hotels negatively impacted the growth of the industry. The slumped businesses further affected the demand for POS terminals and related software across the hospitality industry. The South African tourist hotspots are suffering losses due to international travel restrictions. The hospitality POS software market in South Africa is expected to regain its foothold post the pandemic. Currently, mPOS and contactless payment terminals are in high demand as they contribute to the effort of containing the spread of the coronavirus.
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South Africa Hospitality Point Of Sale Software Market Segmentation
Grand View Research has segmented the South Africa hospitality POS software market based on product and country:
South Africa Hospitality POS Software Product Outlook (Revenue, USD Million, 2017 - 2028)
- Fixed POS Terminal
- Mobile POS Terminal
South Africa Hospitality POS Software Country Outlook (Revenue, USD Million, 2017 - 2028)
- South Africa
Market Share Insights
- May 2020: Clover Network, Inc. introduced the latest feature, Clover Online Ordering, in its Clover POS platform to help restaurants receive and process orders for pick-up and delivery purposes.
- July 2019: Lightspeed acquired iKentoo, a Switzerland-based company with a strong presence in Switzerland, France, and South Africa. The latter company offered POS solutions to SMBs in the hospitality industry.
Key Companies profiled:
Some of the prominent players operating in the South Africa hospitality point of sale software market are:
- ORACLE MICROS (AdaptIT)
- NCR Corporation
- Clover Network, INC.
- Lightspeed
- ThinnPro
- Square, Inc.
- Sapaad
- inTouch Point of Sale
- TouchBistro
- Vectron Systems Pty Ltd.
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