Queue Management System Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), Application (BFSI, Hospital

Queue Management System Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), Application (BFSI, Hospitals, Retail Outlets, Restaurants, Utility Service Providers and Airports, Government Offices, and Others), and Geography

The queue management system market size was valued at US$ 748.18 million in 2023 and is anticipated to reach US$ 1,331.48 million by 2031. The queue management system market is estimated to record a CAGR of 7.5% from 2023 to 2031.

The queue management system market in Europe is further segmented into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Germany, Italy, the UK, Spain, and other economically strong countries have been significantly implementing advanced solutions. The European Commission has set a plan to invest US$ 191.1 million in digital technologies under its latest Horizon Europe Programme. This program supports researchers in the region in developing digital technologies. In addition, the region is witnessing a rise in digitization in various industries, including BFSI. Nearly every notable banking institution in Europe has a digital transformation strategy. Offering digital services and goods around the clock and enhancing the customer experience are the main goals of most banking digitalization plans. Queue management systems are used to schedule appointments through smart digital signage and integrated web check-in, leading to the rising demand in banking organizations. Thus, the growing digitization in the banking sector is expected to fuel the growth of the queue management system market in Europe.

Europe is also looking forward to developing artificial intelligence (AI), robotics, and new materials to adopt sustainability in business activities. For instance, in March 2023, 28 projects were selected for a peer review evaluation process. Among these, six AI and robotics-based projects received an investment of US$ 21.2 million for advancing European Artificial Intelligence (AI) and robotics. These projects aim to provide automation in business operations. Implementing AI in the queue management system helps the user monitor the customer in real time, optimize the customer flow through queues, and analyze the customer's status to make decisions. Thus, the rise in technological advancements is expected to fuel the growth of the market during the forecast period. Moreover, countries such as Germany, France, and the UK have increased their adoption of queue management systems to avoid long queues, ensure proper resource planning, and manage staff strategically, which is expected to boost the queue management system market growth in the coming years.

Based on end user, the queue management system market is segmented into hospitals, BFSI, retail outlets, utility service providers and airports, restaurants, government offices, and others. The retail outlets segment held the largest queue management system market share in 2023. Retail outlets are among the prime users of queue management systems across the globe. This is majorly attributed to the control and management of significantly long queues at every payment counter. The retail sector has expanded over the years with hypermarkets, supermarkets, and convenience stores, which observe large footfall on a regular basis. The benefits offered by queue management solutions have impressed a substantial number of retail outlet owners; as a result, the demand for the solutions continues from the retail sector. By deploying a queue management system, the retailer can obtain insights into understanding, anticipating, and meeting the customer's expectations by gaining better control over customer flows and allocating necessary resources and self-service choices based on demand on the premises. Thus, all the above factors are boosting the demand for queue management systems in retail outlets.

Q-Matic Group Ab, Qminder Ltd, Qminder Ltd, Skiplino, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, Sedco Co Ltd, Lavi Industries, Akis Technologies UAB, Proside Design and Implementation of Computer Solutions LDA, Waitwell, Verint Systems Inc, Qless, Offtec Holding Group, and Waitwhile, Inc are among the prominent players profiled in the queue management system market report. Several other major players were also studied and analyzed in the queue management system market report to get a holistic view of the market and its ecosystem.

The overall queue management system market share has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the queue management system market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts 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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