1、November 2024Restaurant Technology Market UpdateRestaurant Technology Market Update2Restaurant technology has continued to attract both strategic and private equity investment as operators increase technology spending to improve operational efficiency to combat margin compression.Strategic consolida

2、tors have shown a continued appetite for M&A,with multiple significant transactions(Paytronix/Access,Tock/American Express,Revel Systems/Shift4,Cuboh/ChowNow)announced in 2024.Financing activity has picked up momentum,with several growth-stage technology leaders completing financing rounds(Restauran

3、t365,Pepper,Wonder)in recent months.The restaurant industry continues to see strong momentum,with U.S.food and beverage sales expected to surpass$1.1 trillion(2)for the first time in 2024.Restaurant operators are seeing continued revenue growth,fueled by resilient consumer spending and increasing ut

4、ilization of online takeout and delivery solutions.Despite strength in top-line growth,rising food and labor costs have created challenges for operators as margins have continued to compress.There is a significant opportunity for further tech adoption across the restaurant technology sector as innov

5、ative solutions enable operators to maximize efficiency,grow customer loyalty,and create top-tier guest experiences.The restaurant technology market continues to gain momentum.We expect to see sustained strength in investment activity going forward as growth in consumer spending boosts restaurant re

6、venue to record levels and operators accelerate the adoption of technology to maximize revenue and improve efficiency.Sources:PitchBook,company filings,company websites,and press releases.(1)Deal values represent Enterprise Values.(2)National Restaurant Association,“State of the Restaurant Industry