New York, US, July 07, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Queue Management System Market information by Vertical, by Components and Region – forecast to 2025” the market is expected to reach USD 650 Million by 2025, registering a CAGR of 6.1%
Queue Management System Market Scope:
With the COVID 19 disruptions likely to continue for a couple of years, the market is expected to garner significant traction worldwide in the years to come.
Dominant Key Players on Queue Management System Market Covered Are:
- Wavetec (UAE)
- AURIONPRO (India)
- Xtreme Media Pvt. Ltd. (India)
- VirtuaQ (US)
- Qmatic (Sweden)
- QLess Inc. (US)
- Qudini (UK)
- Databyte (Australia)
- Tensator (UK)
- KareXpert Technologies Pvt Ltd. (India)
- SEDCO (UAE)
- CampusQ (Australia)
- XIPHIAS Software Technologies (India)
- Advantech Co. Ltd. (Taiwan)
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Market USP Exclusively Encompassed:
Queue Management System Market Drivers
COVID-19 Safety Protocols Foster Contactless Smart Queue Management System
The queue management system market is growing at a rapid pace. Queue management solutions enhance customer experience at key touchpoints by enhancing operational efficiency, organizing and & engaging the crowd and measuring waiting times and statistics from disconnected service areas.
Excessive queuing and waiting are among the leading causes of consumer dissatisfaction in banks, retail stores, hospitals and government institutions. Queue management systems are also crucial for busy transport infrastructures like airports to manage queues at various touchpoints, such as entry, check-in, security, and immigration are key to the enhanced passenger experience and safety.
Passenger safety is the key concern in the present pandemic times. Therefore, adopting safety measures becomes imperative to ensure our passengers feel safe when they transit through the airport. Smart queue management technology takes safety and security experience at airports one notch higher and creates passenger confidence while ensuring seamless operations.
Due to the recent coronavirus crises and following lockdown & social distancing mandates, there is a growing need for queue management solutions across the industry verticals. The pandemic has pushed some creative solutions for long-standing process hurdles, including waiting lists and lineups. These systems facilitate cost-effective and efficient management of lengthy queues, heavy footfall and occupancy limits using people counting and crowd management technology.
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Segmentation of Market covered in the research:
The market is segmented into components, verticals, and regions. The component segment is sub-segmented into solutions and services. Among these, the solution segment accounts for the largest market share. The sub-segment service includes associated services and professional services like support & maintenance services and training services.
The vertical segment is sub-segmented into healthcare, BFSI, Government, retail, telecommunication, education, hospitality, and others. Among these, the retail & consumer goods segment grows at the highest CAGR. The region segment is sub-segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and others.
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Regional Analysis
North America dominates the global queue management system market. Increasing adoption of queue management solutions & services in the healthcare and retail sectors drives the market growth. Besides, the spurring rise in various activities in the BFSI, government offices, telecommunications, and educational institutes creates vast market demand.
Factors such as the early adoption of technologies such as cloud computing, machine learning, and artificial intelligence to improve operational efficiency accelerate the region's queue management system market share. The surge in technology providers offering ERP-based solutions for universities, public & private schools, and management schools positively impacts the market growth. Additionally, the presence of key technology providers in the region, such as VirtuaQ and QLess, Inc., substantiates the market size.
COVID-19 Impact on the Global Queue Management System Market
The COVID 19 pandemic has positively impacted the queue management system industry. Lockdown, physical distancing mandates, and safety protocols imposed to control the pandemic spread forced many retail and restaurant outlets to adopt the queue management systems to reopen and operate safely. This, as a result, increased the adoption of queue management solutions to manage operational efficiency.
In keeping with government regulations and helping businesses manage their customers and operate safely, banks, restaurants, and other retail outlets are required to follow regulations to remain compliant with their respective area's stage 3 reopening plan and the government's capacity guidelines. Resultantly, the queue management system market is expected to increase rapidly hereafter.
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Industry Trends
Queue management solutions are rapidly being implemented across educational institutes and banking sectors worldwide to manage their operations better while enhancing collaboration and productivity. With technology advancements, cloud-based solutions are offering better accessibility to portal features. Moreover, increasing investments by various enterprises across the globe escalate the market growth.
The penetration of smart mobile devices, such as smartphones, laptops, and tablets and improving networking technologies like WiFi and broadband create substantial market demand. Investments in advanced queue management system infrastructure to gain enhanced control over the whole operational gamut boost the market size. On the other hand, the lack of expertise and limited customization options are major challenges projected to impede the market's growth.
With the COVID-19 vaccine administration taking place worldwide, there has been an increase in the number of scheduled appointments and queues at health centers and defined vaccination locations. Nevertheless, the rising demand for online Queue management solutions would support the market growth throughout the review period.
Competitive Analysis
The queue management system market witnesses significant product launches and implementations of several strategic approaches, such as mergers & acquisitions, expansion, collaboration, and product launches. Market players are making strategic investments in research and development activities and fostering their expansion plans.
For instance, recently, on June 28, 2021, EZ Lineup, a leading queue management solutions provider, announced a partnership with Ontario Restaurant Hotel & Motel Association (ORHMA) to provide a creative solution for the hospitality industry as it moves to phase 2 reopening plan.
EZ Lineup would provide ORHMA members solutions to manage queues and maintain contact tracing information, allowing them to reopen and operate safely. The partnership would allow EZ Lineup and ORHMA to work together in reopening safely after COVID 19 lockdowns.
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