Solution Segment to Dominate APAC Virtual Queue Management System Market during 2021–2028
According to The Insight Partners market research study on “APAC Virtual Queue Management System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component, Platform, Organization Size and End-User” is expected to reach US$ 118.26 million by 2028 from US$ 67.20 million in 2021. The market is estimated to grow at a CAGR of 8.4% from 2021 to 2028. The report provides trends prevailing in the APAC virtual queue management system market along with the drivers and restraints pertaining to the market growth. High growth potential in small- and medium-sized enterprises (SMEs) is the major factor driving the growth of the APAC trade virtual queue management system market. However, issues associated with the lack of adoption in developing countries hinder the growth of APAC virtual queue management system market.
The APAC virtual queue management system market is segmented on the bases of component, platform, organization size, end user, and country. Based on component, the market is segmented into solutions and services. The solution segment dominated the market in 2020 and is services expected to be the fastest growing during the forecast period. Based on platform, the virtual queue management system market is segmented into web based, kiosk based, and mobile based. The web-based segment dominated the market in 2020 and is mobile based segment expected to be the fastest growing during the forecast period. Based on organization size, the market is segmented into small and medium enterprises, and large enterprises. The large enterprises segment dominated the market in 2020 and small and medium enterprises segment is expected to be the fastest growing during the forecast period. Based on end user, the virtual queue management system market is segmented into retail, hospitals and clinics, airports, museums and libraries, and others. The others segment dominated the market in 2020 and retail segment is expected to be the fastest growing during the forecast period. In terms of country, the APAC virtual queue management system market is segmented into— Australia, China, India, Japan, South Korea, and the rest of APAC.
Asia-Pacific constitutes the world’s two most populated countries that are also hubs for manufacturing – India and China. China virtually imposed strict lockdown and social isolation, which almost halted the manufacturing and production for several weeks. Moreover, the country also suspended the import as well as export of critical raw materials and components, which disrupted the global supply chains in early 2020. India also imposed a nationwide lockdown to keep a check on the growing COVID-19 cases across the country. As a result, lockdown, and disruption of industrial activities across China and India contributed to the disruption of supply chain of various raw material and goods. However, these countries had to permit the manufacturing of a few essential goods. However, growing technology breakthroughs and the introduction of smart queue management systems are promoting their adoption in hospitals, BFSI institutions, retail outlets, and other locations. However, healthcare institutions, airlines, and government offices, among other places, continue to experience long lines on a regular basis, fueling demand for virtual queue systems. However, APAC has seen significant increase in usage of Queue management technology. For instance, In India, the vaccination drive is conducted with the use of virtual slot booking and queuing in order to adhere to social distancing norms and increase effectiveness. Q-nomy Inc., Seehash Softwares Pvt. Ltd., Wavetec, XIPHIAS Software Technologies Pvt. Ltd., Aurionpro Solutions Limited, and Advantech Co. Ltd., are among a few players operating in the Asia-Pacific queue management system market.
accesso Technology Group, plc; Advantech Co. Ltd.; AKIS Technologies; eGlobe IT Solutions; Hague Australia; Ombori; and Queue-it among the leading companies in the APAC virtual queue management system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Snoqualmie Casino has inked a three-year arrangement with accesso Technology Group plc to deliver its accesso ShoWare box office ticketing solution. The solution will give customers with a straightforward online box office experience, allowing them to purchase tickets in a few simple clicks, with the Casino's two performance venues featuring top-tier talent all year.