Jun 5, 2020 7:20 AM ET
iCrowd Newswire – Jun 5, 2020
According to our latest market study on “Queue Management System Market to 2027 – COVID-19 Impact and Global Analysis and Forecast – by Type (Virtual Queuing and, Linear Queuing); Component (Solutions and, Services); Application (Hospitals, BFSI, Retail Outlets, Utility Service Providers and Airports, Restaurants, Government Offices, and Others); and Geography,” the 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 report highlights the key factors driving the market growth, and prominent players and their developments in the market.
Growing Focus toward Service Quality Enhancement to Lead Queue Management System Market Growth at 4.9%CAGR during 2019–2027
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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. Further, to minimize human-to-human contact in ecommerce delivery, companies such as Meituan and JD.com are experimenting with “contactless” end-to-end solutions. Several hospitals are also using queue management systems and apps to avoid crowding of people. This could potentially be an area of opportunity for companies to develop technology that could automate tasks in a public setting.
The queue management system market has been growing at a steady rate over the years as a result of the rise in demand for structuring and managing queues efficiently and conveniently. The userbase of queue management systems has been expanding since years. The populations in the developed countries, as well as in the developing countries, are increasingly becoming tech-savvy, which is generating significant demand for advanced technologies. With an objective to enhance work efficiency and reduce disorder in queues in various application areas, the demand for a technologically advanced queue management system is growing, which is supporting the growth of the queue management system market. The constantly rising emphasis toward the enhancement of customer satisfaction is generating significant demand for linear queuing systems and virtual queuing systems. As a result of the availability of several alternatives to products, the end users are increasingly focusing on procuring and deploying advanced technologies, which include queue management systems, to ensure customer satisfaction by allowing them sufficient time on the counter for interaction; this allows them to tackle the risk of losing customers.
The rise in demand for these systems, coupled with low entry barriers to the market, the queue management system market continuously witnesses a rise in the number of emerging players either as a hardware provider or a software provider or both hardware & software provider. Aurionpro, Advantec Co. Ltd., Qmatic, Qminder Ltd., Q-Nomy Inc., Seehash Software Pvt. Ltd., Skiplino, Wavetec, Xiphias Software Technologies, and SEDCO are among the leading players operating in the queue management system market.
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Keywords: Queue Management System Market, Queue Management System Market 2020, Queue Management System Market 2027