Growing Adoption of Parking Meters in Developing Nations to Provide Growth Opportunities for Virtual Queue Management System Market During 2021–2028
According to our new research study on “Virtual Queue Management System Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Component, Platform, Organization Size, End User, and Geography,” the market is projected to reach US$ 436.00 million by 2028 from US$ 287.37 million in 2021; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
The virtual queue management system market is presently dominated by large enterprise customers across various geographies, especially in regions such as North America and Europe. Complex operations, high operational costs, the prevailing trend of real-time work, and the fast adoption of advanced solutions are among the key reasons driving the demand for virtual queue management solutions and services across large enterprises globally. Although large enterprises are at the forefront of digital transformation to improve operations, SMEs are also witnessing a huge growth in the adoption of advanced technology solutions such as virtual queue management systems by replacing traditional queue management solutions. With the growing popularity of cloud-based virtual queue management systems, SMEs are increasing their investment in such solutions, thereby offering a huge growth opportunity for the market players. Likewise, the growing trend of digital transformation to improve business processes by analyzing the data, enhancing productivity, and reducing costs will further boost the adoption of virtual queue management solutions and services among SMEs. This, in turn, will provide growth opportunities to the market players during the forecast period.
The virtual queue management system market is segmented based on component, platform, organization size, end user, and geography. Based on component, the market is segmented into solutions and services. Based on platform, the virtual queue management system market is segmented into web-based, kiosk-based, and mobile-based. Based on organization size, the market is segmented into small and medium enterprises and large enterprises. Based on end user, the virtual queue management system market is segmented into retail, hospitals and clinics, airports, museums and libraries, and others. In terms of geography, the virtual queue management system market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
Impact of COVID-19 Pandemic on Virtual Queue Management System Market
The lockdown hindered the operations of various industries, including manufacturing and IT. However, essential industries such as fast-moving consumer goods (FMCG) and pharmaceuticals had to continue their operations. Several industries are aiming to implement a wide range of virtual queue management system solutions and services to support digital transformation programs that address mission-critical processes, optimize operations, and validate user identification. Organizations across the globe are adopting virtual queue management systems to implement social distancing and control large crowds. Thus, the outbreak of COVID-19 has positively affected the virtual queue management system market.
accesso Technology Group, plc; Advantech Co. Ltd.; AKIS Technologies; eGlobe IT Solutions; Lavi Industries; Ombori; Queue-it; Qmatic; SEDCO; and Hague Australia are among the major companies operating in the virtual queue management systems market.
Virtual Queue Management System Market — by Geography
Virtual Queue Management System Market to Grow at a CAGR of 6.1% to reach US$ 436.00 million from 2020 to 2028
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Virtual Queue Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Platform (Web-Based, Kiosk Based, and Mobile Based), Organization Size (Small & Medium Enterprises and Large Enterprises), and End-User (Retail, Hospitals & Clinics, Airports, Museums & Libraries, and Others)
Virtual Queue Management System Market to Grow at a CAGR of 6.1% to reach US$ 436.00 million from 2020 to 2028
Download Free SampleVirtual Queue Management System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Platform (Web-Based, Kiosk Based, and Mobile Based), Organization Size (Small & Medium Enterprises and Large Enterprises), and End-User (Retail, Hospitals & Clinics, Airports, Museums & Libraries, and Others)
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