Queue Management System Market 2021-2031 | Complete Overview, Leading Key Players and Global Industry Forecast
The surge in emphasis on customer service has boosted the growth of the global queue management system market.
PORTLAND, PORTLAND, OR, UNITED STATE, February 21, 2023 /EINPresswire.com/ — The rise in the need to manage customer traffic and customer movement to boost productivity and the surge in emphasis on customer service have boosted the growth of the global queue management system market. However, the high cost of the set-up of queue management systems hinders market growth. On the contrary, presence of several SMEs offering advanced solutions for queue management systems would open new opportunities in the future.
As per the report, the global queue management system industry accounted for $706.0 million in 2021, and is expected to reach $1.4 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.
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Covid-19 scenario:
• The Covid-19 pandemic positively affected the market due to the increase in the adoption of queue management systems in verticals such as the healthcare and retail sectors. The system reduces waiting time and eliminates the dependency on staff availability during the pandemic.
• The prolonged lockdown disrupted the supply chain. Critical industries such as fast-moving consumer goods and pharmaceuticals suffered major losses.
• On the other hand, due to the global adoption of work-from-home culture, the demand for cloud-based solutions and SaaS-based model increased.
By mode, the virtual queuing segment held the largest share in 2021, accounting for nearly three-fourths of the global queue management system market, and is expected to maintain its leadership position during the forecast period. In addition, the segment is projected to showcase the highest CAGR of 8.0% during the forecast period. This growth is because queue management systems enhances customer experience.
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By deployment model, the cloud segment is projected to manifest the highest CAGR of 8.0% from 2022 to 2031, owing to its ability to run the solution within the agency’s physical infrastructure. However, the on-premise segment held the largest share in 2021, contributing to nearly three-fifths of the global queue management system market, as it helps to access remote areas.
By offering, the solution segment held the largest share in 2021, accounting for nearly three-fourths of the global queue management system market. This is due to the wide adoption of queue management solutions in verticals such as healthcare and BFSI for better customer experience. However, the service segment is estimated to register the highest CAGR of 8.4% during the forecast period, owing to a surge in the adoption of cloud-based QMS solutions and an increase in demand for professional services.
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By region, the market across North America dominated in 2021, accounting for more than two-fifths of the global queue management system market, due to the rise in digital infrastructure in the region and the presence of key players in U.S. However, the market across Asia-Pacific is expected to register the highest CAGR of 8.7% during the forecast period, due to an increase in smart city projects and the adoption of QMS solutions by SMEs in the region.
Major market players:
• Advantech Co. Ltd
• AKIS Technologies
• ATT Systems
• Aurionpro solution ltd.
• AwebStar
• Business Automation
• Core Mobile
• Hate2wait
• JRNI
• Lavi Industries
• MaliaTec
• QLess
• Q-Matic
• Qminder
• Q-nomy
• Qudini
• SEDCO
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The report analyzes these key players of the global queue management system market. These players have adopted various strategies such as expansion, partnerships, new product launches, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
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