Increasing emphasis by firms on customer satisfaction would boost the queue management system market. Customers get easily frustrated due to disorganized queues leading to longer waiting times, which can hurt the company’s sales. It is estimated that 1 out of 3 potential customers leave the store without making any purchase if they are made to wait for more than 5 minutes in the queue. Hence, it is extremely important that firms adopt queue management system which can measure the customer flow and reduce the waiting time in queues, resulting in superior customer satisfaction.
Global queue management system market was valued at US$ 420.30 million in 2020 and is expected to reach US$ 611.55 million by 2029, growing at an estimated CAGR of 4.3% over the forecast period.
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Vendors currently offer linear queue and virtual queue solutions to firms across various industry verticals. Linear queue management is a traditional way of managing queues. In this system, a single line- first come first serve methodology is applied, which reduces the average waiting time by 30 minutes. However, virtual queue is the latest method which is immensely popular among firms. With the help of virtual queue, customers need not wait in the physical queue, instead an estimated time is given to the customer. During this time the customer can shop or relax which would result in increased customer satisfaction. Virtual queue management segment was valued at US$ 270.76 million in 2018, growing at an estimated CAGR of 4.4% over the next eight years.
Managing queues is extremely important in hospitals and clinics. Because of extended waiting times in the queue, patients are often bothered, thus leading to worsening medical conditions. Queue management systems which are designed for outpatient clinics, diagnostic centers etc. help in optimizing patient flows, resulting in superior customer experience. By application, hospitals and clinic segment was valued at US$ 97.04 million in 2018, exhibiting a significant growth rate over the forecast period. Another factor which would drive the queue management system market, is the increase in staff efficiency which would result in employee satisfaction. With the help of queue management system, customer peak hours can be understood better. This data can be utilized by the company in deploying staff efficiently. This would ensure better management of customers. High cost of the queue management system software could be a concern for smaller firms to adopt the technology. However, technology such as mobile queuing which would further enhance the customer experience, is set to fuel the growth of the market in the coming years.
The report provides both, qualitative and quantitative research of Queue Management System Market, as well as provides comprehensive insights and favored development methods adopted by the key contenders. The report also offers extensive research on the key players in this market and details on the competitiveness of these players. Key business strategies such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts adopted by these major market participants are also recognized and analyzed in the report. For each company, the report studies their global presence, competitors, service offerings, specification, pricing, and gross margin.
Some of the players operating in the queue management system market are Advantech Co. Ltd., AKIS Technologies, QLess Company, XIPHIAS Software Technologies, Wavetec, InfraRed Integrated Systems Ltd, Lavi Industries, Multimex, AURIONPRO, ATT System Group, Qmagik, Onlinet, V-Count, Skiplino, Qudini, Qnomy, Qminder Ltd, Qmatic. amongst others.
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Queue Management System Market:
- By Deployment
- Cloud Based
- On Premise
- By Type:
- Virtual Queuing
- Linear Queuing
- By Application:
- Hospitals & Clinics
- Banks & Financial Institutions
- Retail Outlets
- Private Utility Service Providers/Airline Check in Counters
- Self Service Restaurants
- Government Offices
- Telecom Service Centre
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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