In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global queue management system market. The global queue management system market by revenue is expected to grow at a CAGR of close to 6% during the period 2020–2025.
New York, Nov. 13, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Queue Management System Market - Global Outlook and Forecast 2020-2025" - https://www.reportlinker.com/p05986835/?utm_source=GNW
The global queue management system market size will reach USD 671 million by 2025. The market is likely to witness rapid growth in the coming years. One of the key reasons for the rapid market growth is a shift in the usage of products from optional to mandatory, especially after the COVID-19 pandemic outbreak the rising awareness for personal hygiene and increased focus on saving the work environment in various geographies has propelled the demand for social distancing solutions, including queue management systems. The market is witnessing increased demand from healthcare, hospitality, and manufacturing setups where these products are used in operations areas, admin blocks, and several other places. The focus on a healthy environment for work professionals is increasing due to the elderly workforce’s presence in developed economies such as Japan and the US.
The following factors are likely to contribute to the growth of the queue management system market during the forecast period:
• Adoption of Artificial Intelligence
• Rapid Development of IoT and Wireless Communication Technology
• Smart Infrastructure Development
The study considers the present scenario of the queue management system market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Queue Management System Market Segmentation
This research report includes a detailed segmentation of the following segments by product, deployment, end-user,geography. Virtual queuing solutions are expected to deliver significant advantages in the prevailing COVID-19 environment, which is likely to drive these systems’ demand during the forecast period. As lockdown regulations are eased across the globe, companies, and service sectors are expected to increase footfalls. Hence the segment is expected to witness demand. Moreover, to manage customer traffic, avoid unplanned visits, and decrease waiting times, virtual queuing systems are expected to observe high adoption. Companies and organizations across the world have started shifting to techno-based systems to optimize workflows and productivity.
Linear queuing is one of the oldest methods of managing queues. This method effectively prevents messy scenes within or outside the business, thereby providing a greater understanding. It helps in the right queue discipline and queue management approach. The market understands customer journeys better by moving beyond the old-fashioned way of queuing, which helps to gain a broader perspective on how customers engage, providing the insight and resources that businesses need to succeed. Thus, the demand for linear queuing models is expected to show sluggish growth during the forecast period.
With the growing number of end-users, Europe and APAC queue management system markets are highly competitive. However, the APAC region is expected to grow at a substantial growth CAGR during the forecast period. European countries are technologically mature, and in the UK, Germany, France, Spain, Italy, and Russia, the acceptance rate of advanced technology is higher. The presence of well-established queue management system manufacturers in these countries has led to significant cloud-based systems procurement. On the other hand, APAC is witnessing vigorous growth in the number of hospitals, banks, and retail outlets, catalyzing and furnishing the region’s queue management system market. The cloud-enhanced production of next-generation manufacturing technologies would seek a cloud network to demonstrate their digital capabilities. The on-premises segment is expected to grow at a CAGR of over 2% during 2019–2025. On-premise frameworks are gaining higher consistency in managing customer queues in the service-based environment and providing new ways to communicate with consumers.
Queue management systems domain the healthcare segment. The segment is expected to account for over 20% revenue share during the forecast period. Queue management solutions are specially designed for outpatient clinics, laboratory diagnostic centers, and hospitals. The segment is likely to be driven due to queue solutions’ ability to enable high-quality services and enhance the patient experience. Implementing these systems in the healthcare sector has been growing due to the increased awareness of contagious infections and the importance of maintaining social distancing among individuals.
Segmentation by Product
• Pharmacy and Offline Retail
• Financial Institutions
• Retail Market Places
Insights by Geography
North America has exhibited high potential for queue management systems. In terms of growth, the market has achieved new heights in the last decade. North America, which includes the US and Canada, constitutes key geography as it hosts the most advanced and largest economies of the world. The region has a high impact on the utilization of queue management systems. Despite hosting several technological innovations, the US and Canada are set to grapple with massive investments required to maintain and upgrade the existing technological infrastructure setup. With an estimated 5% of the region’s GDP invested in innovations and tech-specific developments, the region hosts some of the finest and prominent technology developers. Further, the US and Canada have some of the most regulated standards and certifications in the world, emphasizing catering to the individual’s needs and areas of interest. Queue management systems are prominent in the region, driven by better availability of internet infrastructure and high ownership of smartphones and tablets.
• North America
o South Korea
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
Insights by Vendors
The global queue management system market is currently highly fragmented with many local players in the market. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and extra emphasis on tech advanced products. Vendors can alter and refine their unique value proposition to achieve a strong market presence in the upcoming days. The global market is dominated by the influx of domestic players, including small-scale proprietorship firms. Several domestic players are expected to expand their presence worldwide during the forecast period due to the COVID-19 pandemic outbreak, especially in APAC and Latin America. Improving global healthcare conditions would also fuel market growth as it is a suitable time for the launch of new products to cater to consumers’ rising needs.
• Bauerfeind Advantech Co. Ltd.
• Aurionpro Solutions Limited
Other Prominent Vendors
• QLess Inc.
• Infrared Integrated Systems
• SeeHash Softwares Pvt. Ltd.
• ATT Systems Group
• QMAGIK (GrandTrust InfoTech)
• Q-nomy Inc.
• XIPHIAS Information Technologies
• Lavi Industries
• POS Market
• UAB AKIS Technologies
• Xtreme Media
Key Questions Answered::
What is the queue management system market size and growth rate during the forecast period?
What are the factors affecting the growth of the queue management system market share?
How is the information in the report going to help the market players?
Who are the leading vendors in the queue management system market?
Which segment will expect the highest growth in the global queue management system market post-COVID pandemic?
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