Queue Management System Market Drivers Shaping Future Growth, Revenue USD 1.4 Billion by 2031 | CAGR 7.2%
The rise of services segments such as system integration & implementation, maintenance and support, and consulting are stimulating the growth of the QMS market.
PORTLAND, PORTLAND, OR, UNITED STATE, October 31, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “Queue Management System Market Drivers Shaping Future Growth, Revenue USD 1.4 Billion by 2031 | CAGR 7.2% .” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Rise in need to manage customer traffic and customer movement to boost productivity and surge in emphasis on customer service have boosted the growth of the global queue management system market. However, high cost of set-up of queue management systems hinders the market growth. On the contrary, present of several SMEs to offer advanced solutions for queue management system would open new opportunities in the future.
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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 system enhance customer experience.
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 from remote areas.
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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 rise in digital infrastructure in region and 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 increase in smart city projects and adoption of QMS solutions by SMEs in the region.
The key players that operate in the queue management system market analysis are 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 and SEDCO These players have adopted various strategies to increase their market penetration and strengthen their position in the queue management system industry.
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Covid-19 Scenario:
• The Covid-19 pandemic positively affected the market due to increase in adoption of queue management system in verticals such as healthcare and retail sector. The system reduces waiting time and eliminate 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 global adoption of work from home culture, the demand for cloud-based solutions and SaaS-based model increased.
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