Queue Management System Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), and Application (BFSI, Ho

Queue Management System Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), and Application (BFSI, Hospitals, Retail Outlets, Utility Service Providers and Airports, Restaurants, Government Offices, and Others)

The Queue Management System Market was valued at US$ 482.73 million in 2022 and is expected to reach US$ 738.97 million by 2030; it is estimated to record a CAGR of 5.5% from 2022 to 2030.

The rapid growth in population is increasing customers queues in hospitals, retail shops, clinics, airports, and other facilities, which is one of the major factors fueling the growth of the queue management system market. The growing population has resulted an unorganized queue, which cause frustration among the crowd and deteriorate the service quality. In addition, at the time of peak business hours, the rush in the queue continues to surge, and this results in loss of service quality as the staff tries to manage the queue manually. According to Midlands Technical College data of January 2022, companies are losing their potential customers due to poor service and customer dissatisfaction. The data estimated that poor customer service incurred a loss on business, ranging from US$ 75 billion to US$ 1.6 trillion per year, owing to long queues, cost-cutting strategies, lack of understanding of customer desires, and sacrificing customer satisfaction for growth, among other issues. This loss in revenue is projected to increase in the coming years, which shifts customer preference to competitors’ products, thus resulting in the loss of potential customers. Offering enhanced service quality is of utmost importance among service providers, irrespective of the industry. With an objective to efficiently manage the queue and improve service quality, respective service providers opt for queue management solutions, boosting the growth of the queue management system market.

Automated queuing systems enable customers to check their queuing status at their convenience, which further allows them to utilize the waiting time on other work, propelling the growth of the queue management system market. Several service providers such as Wavetec, and Qmatic have procured and installed automated queue management systems, which automatically request shoppers/customers to move toward the next accessible counter. This eases the workflow, reduces customer waiting time, and improves staff and customer interaction, thereby upgrading the service quality. Thus, these benefits of the queue management system attract a significant number of service providers across industries, driving the growth of the queue management system market.

As the passenger count continues to escalate, airports are challenged with the continuous demand for innovative solutions to control long queues. Per the International Air Transport Association (IATA), in March 2023, air traffic increased by 52.4% globally, which indicates an increased preference for airways facilities among consumers for traveling. Airports face a significant challenge in maintaining an organized queue at the ticketing counter, screening area, and customs section. Hence, there is a high demand for sophisticated solutions that enable the easing of passenger throughput, thereby enhancing service efficiency and return on investment (ROI). As a result, the adoption of the queue management system is on the rise among airports. Thus, the rising focus on service quality enhancement in various sectors drives the queue management system market growth.

In terms of technology adoption, Japan is considered one of the most forefront countries in the world. Both businesses and governments have already adopted queue management systems significantly. According to Seiryo Electric, Docomo shops in Japan have implemented queue management systems in over 600 stores in 2015. The early adoption of such technologies further offers lucrative opportunities for the market. Additionally, a growing number of startups that are continuously focusing on developing advanced technologies are driving the queue management system market. For instance, in January 2020, Queue Q established its subsidiary QueQ Japan Co., Ltd. in Japan. The company was established with the aim of increasing its market presence by offering an online queuing system to customers in Japan. The growing adoption of online queue management systems in stores is anticipated to fuel the queue management system market growth.

Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Skiplino, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, SEDCO Co Ltd, Lavi Industries, and AKIS Technologies UAB are among the key queue management system market players profiled in the report. Several other major queue management system market players were studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The queue management system market report provides detailed market insights, which helps the key players strategize their growth.

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