The virtual queue management system market was valued at US$ 287.37 million in 2021 and is projected to reach US$ 436.00 million by 2028; it is expected to grow at a CAGR of 6.1% from 2021 to 2028.
A virtual queue allows businesses to create online waiting lines, which allows customers to get assistance without having to wait in real queues. In contrast, a traditional queue tethers the customers to the specified site as they wait to checkout or seek assistance. Companies providing virtual waiting experiences and customers using this service both profit from virtual queuing. Though consumers only see a smooth experience, the technology that supports these high-value simultaneous interactions must be improved. Further, the ongoing technological advancements are likely to enable front-line employees, shop managers, and corporate headquarters, among others, to assess and track important performance indicators such as wait times, staff service times, and service outcomes using suitable enterprise solutions. There is a continuous rise in the number of people visiting supermarkets and discount grocery stores, hospitals and clinics, and airports. This leads to crowded waiting rooms and long queues at these places, which can cause inconvenience for clients and, in turn, affects the business performance of the respective businesses. The adoption of virtual queue management systems market is likely to help enterprises overcome these issues.
North America held the largest share of the market. The region has been at the forefront of embracing the most recent technology breakthroughs such as mobile and cloud technologies along with virtual queue management solutions. It is also known for high GDP per capita, mass adoption of new technologies, and dynamic consumer behavior, all of which, encourage organizations in various industries to invest in the collection of insightful data for product developments, as well as in providing improved consumer experience. Several industries including retail, telecommunications, hotels, fast-moving consumer goods, and media, are implementing advanced techniques to improve customer experience, as well as overall product and service offerings.
Impact of COVID-19 Pandemic on Virtual Queue Management System Market
In North America, the US witnessed a large number of COVID-19 cases, with more than 20 million COVID cases; California, Texas, Florida, and New York are among the majorly affected areas. The federal government in the country did not impose nationwide lockdown in 2020; however, governors of few states decided to impose lockdown in their respective states. 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. By early 2021, the condition is projected to be under control, while the demand for QMS solutions and services is expected to rise, owing to the rising need for improved customer experience and the development of individualized relationships with prospects. Several industries are aiming to implement a wide range of QMS solutions and services to support digital transformation programs that address mission-critical processes, optimize operations, and validate user identification. Many companies in North America are adopting virtual queue management systems to implement social distancing and control large crowds. For instance, Snoqualmie Casino has agreed to deploy accesso Technology Group plc's accesso ShoWare box office ticketing solution for a three-year period. Customers will have an easy online box office experience with the solution, which will allow them to purchase tickets in a few simple clicks, with the Casino's two performance venues offering top-tier talent all year. Also, accesso technology’s QSmart is currently being tested in Seattle SeaTac Airport and Boston Logan Airport, with promising results so far. Concession profits are up, and crowding is less of an issue. Guests may relax before flights. According to a survey, 96% of customers thought QSmart helped them relax while traveling. All these factors are helping the virtual queue management system market grow in North America after the pandemic.
Lucrative Regions for Virtual Queue Management System Market
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Market Insights
Growing Penetration of Digitalization
With the increase in processing capability of microprocessors and affordable prices of the internet, coupled with the decrease in prices of digital devices such as smartphones, tablets, and personal computers, the digitalization of various operations and processes has gained significant traction over the last decades, especially in emerging economies of Asia Pacific. Small- and medium-sized enterprises across the world are investing significantly to improve their business operations with the help of digitalization, as it helps in creating a digital presence and new contact channels, improving decision-making capabilities, and streamlining communication and collaboration, while increasing efficiency and productivity. Moreover, as digitalization is paving the way for the creation of new economic sectors, governments across the globe are implementing initiatives such as Digital India, Saudi Arabia Vision 2030, US Digital Government Strategy, The European Digital Strategy introduced by European Union, and MyDIGITAL initiative by the Malaysian government, to boost digitalization. Thus, with the increasing digital transformations of various enterprises and government processes worldwide, along with the growing adoption of digital devices by the masses, the virtual queue management system market is growing at a significant pace.
Platform-Based Market Insights
Based on platform, the virtual queue management system market is segmented into web based, kiosk based, and mobile based. The web-based solution for virtual queue management systems allows the users to book an appointment for service via the website of the service provider. With the help of digital devices such as personal computers, mobile phones, or tablets, the service provider or the end user of the service can book a service appointment. The details of the appointment are sent to the respective service provider and end user after the appointment is booked via email or SMS, or both. End users from various verticals such as consumer electronics, BFSI, healthcare, and government are widely adopting the web-based virtual queue management systems for managing and scheduling their appointments. For instance, NatWest, a British retail and commercial bank, is currently using a web-based virtual queue management system for managing their video banker / telephonic appointments, in-branch walk-in appointments, and community banking appointment scheduling.
Virtual Queue Management System Market, by Platform – 2020 and 2028
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Component-Based Market Insights
Based on component, the virtual queue management system market is segmented into solution and services. The solution is developed and deployed according to the end user requirement and regular software updates are provided by the market players to the end users. The solution can also be integrated with the in-house CRM of the end users. Furthermore, these solutions are powered by advanced analytics and reporting tools, which allow the end user to map their service operations accordingly. Thus, with the increasing need for optimizing customer handling operations, the virtual queue management system is experiencing significant growth.
End-User-Based Market Insights
Based on end user, the virtual queue management system market is segmented into retail, hospitals and clinic, airports, museums and libraries, and others. The retail industry is a prominent user of virtual queue management systems. Owing to the highly volatile dynamics of the retail industry, customer retention is of paramount importance. As the retail industry players are realizing the importance of customer experience, they are significantly investing in various technologies, including consumer virtual queue management systems. By using virtual queue management systems, the organizations can offer an enhanced shopping experience at their retail outlets as it allows to manage the flow of customers. For instance, Samsung Electronics deployed a virtual queue management system at 40 Samsung Experience Stores and Samsung Support Centre stores across the Netherlands, the UK, Germany, Belgium, and Canada to deliver an enhanced customer experience. As a result, Samsung Electronics witnessed an increase in footfall and high customer retention & satisfaction across their business.
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Virtual Queue Management System Market: Strategic Insights
Market Size Value in US$ 287.37 million in 2021 Market Size Value by US$ 436.00 Million by 2028 Growth rate CAGR of 6.1% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Virtual Queue Management System Market: Strategic Insights
| Market Size Value in | US$ 287.37 million in 2021 |
| Market Size Value by | US$ 436.00 Million by 2028 |
| Growth rate | CAGR of 6.1% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Product development is the commonly adopted strategy by companies to expand their product portfolio. Qmatic; SEDCO; accesso Technology Group, plc; Advantech Co. Ltd.; and AKIS Technologies are among the key players implementing strategies to expand their customer base and gain significant share in the global virtual queue management system market, which, in turn, permit them to maintain their brand name. A few of the recent key developments are:
- In 2021, Boston Logan International Airport teamed with accesso Technology Group plc to pilot a virtual security line. This is accesso's first venture into the airline business, and it establishes Boston Logan International Airport as a leader in the deployment of technology that is proven critical to improving customer safety, trust, and loyalty while following the pandemic-related regulations.
- In 2021, Snoqualmie Casino inked a three-year arrangement with accesso Technology Group plc to deliver its accesso ShoWare box office ticketing solution. The solution will give customers 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.
Virtual Queue Management System Market Segmentation:
By Component
- Solution
- Services
By Platform
- Web Based
- Kiosk Based
- Mobile Based
By Organization Size
- Small & Medium Enterprises
- Large Enterprises
By End-User
- Retail
- Hospital and Clinic
- Airports
- Museums and Libraries
- Others
Company Profiles
- accesso Technology Group, plc
- Advantech Co. Ltd.
- AKIS Technologies
- eGlobe IT Solutions
- Lavi Industries
- Ombori
- Queue-it
- Qmatic
- SEDCO
- Hague Australia
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Platform , Organization Size , and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Owing to the increasing processing capability of microprocessors, affordable prices of internet, coupled with the decrease in prices of digital devices such as smartphones, tablets, and personal computers, the digitalization of various operations and processes has gained significant traction over the last decades, especially in emerging economies of Asia Pacific. Small- and medium-sized enterprises across the world are investing significantly to improve their business operations with the help of digitalization, as it helps in creating digital presence and new contact channels, improving decision making capabilities, and streamlining communication and collaboration while increasing efficiency and productivity. Moreover, as digitalization is paving the way for creation of new economic sectors, governments across the globe are implementing initiatives such as “The Digital India,†Saudi Arabia Vision 2030, US Digital Government Strategy, The European Digital Strategy introduced by European Union, and MyDIGITAL initiative by the Malaysian government to boost digitalization. Thus, with the increasing digital transformations of various enterprises and government processes worldwide, along with growing adoption of digital devices by masses, the virtual queue management system market continues to grow at a significant pace.
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, prevailing trend of real-time work, and 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 in the forefront of digital transformation to improve operations, SMEs are also witnessing huge growth in the adoption of advanced technology solutions such as virtual queue management system by replacing traditional queue management solutions. With the growing popularity of cloud-based virtual queue management system, SMEs are increasing investment in such solutions, thereby offering a huge growth opportunity for the market players operating in the market. 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 global virtual queue management system market was dominated by the solution segment with market share of 72,1% in 2020. However, the services is expected to grow with a higher CAGR 7.2% over the years.
In 2020, North America led the market with a substantial revenue share, followed by Europe and APAC. However, the APAC virtual queue management system market is expected to grow with the highest CAGR over the forecast period.
The major companies in virtual queue management system includes accesso Technology Group, plc; Advantech Co. Ltd.; AKIS Technologies; eGlobe IT Solutions; Lavi Industries; Ombori; Queue-it; Qmatic; SEDCO; and Hague Australia.
The major industries in virtual queue management system includes retail, hospitals and clinic, airports, museums and libraries, and others. The others segment led the virtual queue management system market globally with a market share of 37.4% in the year 2020 and is expected to continue its dominance during the forecast period.
The List of Companies - Virtual Queue Management System Market
- accesso Technology Group, plc
- Advantech Co. Ltd.
- AKIS Technologies
- eGlobe IT Solutions
- Lavi Industries
- Ombori
- Queue-it
- Qmatic
- SEDCO
- Hague Australia
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
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The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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