An online food ordering system is a piece of software that allows restaurants, coffee shops, and bars to take orders over the internet. It usually allows customers to select and pay for food before informing the kitchen that an order has been placed. This occurs without any interaction between employees and customers. Despite the lack of personal touch, the program offers online clients the same features as those who visit the restaurant or place an order over the phone. This includes full customization of the entire menu as well as a variety of payment options such as card, PayPal, or cash on delivery or pickup. Customers should be able to order from their homes or offices using a browser-based system, as well as using an app to purchase while on the go. Customers have complete ordering flexibility as a result of this. Revenue in the Online Food Delivery market is expected to reach US$13.99 billion in 2022, according to Statista.
Major Key Players for Online Food Ordering System Market:
- Pizza hut
- Burger King
- Domino’s Pizza
- Dunkin Donuts
- Dairy Queen
- Papa John’s
- Just Eat
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Market Dynamics and Factors:
Since many people purchase their food through online channels, cloud kitchens are becoming increasingly popular in the food delivery business. As a result of the convenience aspect, consumers’ hectic lifestyles, and high internet penetration, the number of food orders placed through cloud kitchens is expanding. Online meal delivery is not just eroding traditional dine-in restaurant market share, but it is also displacing home cooking. The home delivery option has gained traction as a result of a shift in client preferences and an increased sense of inconvenience when dining out. This has resulted in a transformation in the restaurant sector since food now dominates the dining experience. Furthermore, while the global impact of the Covid-19 pandemic accelerated market hypergrowth, it was the (relatively) recent proliferation of delivery models and fleet types that enabled its success: same-hour, same-day, and next-day delivery; single fleet, multi-fleet, crowdsourced fleets, and in-house fleets; deliver from a store, curbside pickup, delivery from robotic warehouses, and so many others. With all of this opportunity comes a lot of competition, so restaurants, supermarkets, and other food providers must stay on top of what’s going on in the market. However, restaurants’ inability to accommodate multiple deliveries and inefficiencies in dealing with volumes are limiting industry expansion.
Online Food Ordering Market System Report Highlight:
- By solution, the independent segment is estimated to register a significant CAGR over the forecast period. The independent approach addresses the logistics and resource concerns of food delivery while also providing shipment services to businesses that lack in-house delivery capabilities.
- By Payment Method, the online payment segment is expected to witness a considerable growth rate over the forecast period. Payments via payment portals, net banking, or credit/debit cards are all examples of online payment services. Increasing consumer knowledge of digital money, as well as a growing number of agreements between banks and online meal delivery service providers, are driving up the use of online payment methods.
- Due to high user penetration rates in the United States, the North American market has a large market share in the global market. It is one of the world’s major marketplaces for online meal delivery. It is currently the world’s largest online meal delivery market.
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Key Industry Development:
In 2021, Delivery Hero purchased Hugo’s food and grocery delivery verticals, expanding its presence in Central America and the Caribbean.
In 2021, Grab Holdings, Southeast Asia’s largest ride-hailing and food delivery company, announced a USD 40 billion merger with Altimeter Growth Corp.
Online Food Ordering System Market Segmentation:
By Solution Type
By Payment Method
- Cash on Delivery
For this report, Introspective Market Research has segmented the Online Food Ordering Market based on the region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Online Food Ordering Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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