The queue management system market was valued at US$ 435.0 million in 2019 and is projected to reach US$ 618.9 million by 2027; it is expected to grow at a CAGR of 4.9% from 2019 to 2027.The queue management system market in Europe and APAC compete closely, with a rising number of suppliers and end users. However, the market in APAC is expected to observe a significant CAGR during the forecast period. The European countries are technologically advanced, and the adoption rate of advanced technologies is much higher in countries such as the UK, Germany, France, Spain, Italy, and Russia. The presence of industry-recognized queue management system manufacturers in these countries has enabled the countries to experience substantial growth in the procurement of these systems. APAC, on the other hand, is experiencing robust growth in the number of hospitals, banks, and retail outlets, which is catalyzing and furnishing the queue management system market in the region.
Based on type, the queue management system market is categorized into virtual and linear queuing.In 2019, the virtual queuing segment dominated the queue management system market.
The increasing popularity of virtual queuing systems is mainly attributed to greater awareness regarding advanced technologies among the populations in the developed countries.In addition, a fair percentage of the population in developing countries is much aware of technologies.
This factor is benefiting the virtual queuing system developers as well as the end users.The usage of smartphones has considerably risen over the years, which is allowing the customers to gather information on the waitlist on their smartphones using a mobile app.
This helps the queue management system end users to optimize operations in their premises with a lesser volume of the crowd.
The queue management system market, by component, has been segmented into solutions and services. The solutions segment held a larger share of the global queue management system market in 2019.This segment is further segmented into hardware and software. The hardware developers provide kiosk-based queue management systems, mobile-based queue management systems, and signage and signaling systems, and automatic queue management systems, among others.
The leading players operating in the queue management system market across the globe include Aurionpro (US), Advantec Co. Ltd. (Taiwan), Qmatic (Sweden), Qminder Ltd. (UK), Q-Nomy Inc. (US), Seehash Software Pvt. Ltd. (India), Skiplino (Bahrain), Wavetec (United Arab Emirates), Xiphias Software Technologies (India). Several other companies are functioning in the market and are contributing substantial revenues to propel the growth of the queue management system market.
Impact of COVID-19 Pandemic on Queue Management System Market
Despite different opinions on the damage COVID-19 might lead to in the coming months, its ongoing spread is remains major concern worldwide.New cases are rising in the US, Canada, Europe, Africa, the Middle East, India, Australia, South Korea, Japan etc.
The queue management market is likely to witness negative impact during the lockdown announced in different parts of the world.Retail stores, hospitals, government offices, and other businesses worldwide need to keep running during the global pandemic.
Following social distancing norms is a key priority to reduce the risk of infection both within the premises of organizations/stores as well as in queues. It is possible to control the number of people in stores and reduce the waiting line leveraging a simple virtual queuing system.
The overall global queue management system market size has been derived in accordance to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the queue management system market.
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