Queue Management System Market by Component, Solution Type, Application, Queue Type, Organization Size, Deployment Mode, Vertical and Region - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Queue Management System Market by Component, Solution Type, Application (Reporting & Analytics, Real-time Monitoring), Queue Type (Structured, Unstructured, Mobile Queue), Organization Size, Deployment Mode, Vertical, and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global queue management system (QMS) market size to grow from USD 0.5 billion in 2020 to USD 0.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period.

The services segment is expected to grow at a higher CAGR during the forecast period

The global QMS market has been segmented based on components into solutions and services. The solutions segment is further segmented into platform and software, whereas the services segment includes managed services and professional services. The professional services segment is further segmented into consulting, system integration and implementation, and support and maintenance. The services segment is anticipated to grow at a higher CAGR during the forecast period. The growth of the services segment is governed by the complexity of operations and the surge in deployment of QMS software.

The virtual solution type is expected to grow at a higher CAGR during the forecast period

The global QMS market has been segmented based on solution types into linear queuing and virtual queuing. The availability of a robust QMS in the marketplace enables end users to maintain a structured queue in their premises. Most of the end users in recent years have been showcasing immense interest in linear queuing and virtual queuing systems. The virtual QMS is expected to drive the growth of the market as organizations are seeking demand to avoid in-branch crowding and safeguard customer/staff during pandemic.

The mobile queues is expected to grow at a highest CAGR during the forecast period

The global QMS market has been segmented based on queue types into structured queue, unstructured queue, kiosk-based, and mobile queues. Kiosk-based and mobile queues provide a much more customer-oriented approach and have been implemented in a broad range of variations. The mobile queues is expected to grow at a highest CAGR during the forecast period. Ease of handling long queues and reduction in requirement of resources are expected to drive the demand for mobile queues across the world.

The SMEs segment is expected to grow at a higher CAGR during the forecast period

The global QMS market has been segmented based on organization size into SMEs and large enterprises. The large enterprises are the leading adopters of QMS. Enterprises are focusing on delivering enhanced customer experience to customers and gain a leading edge in the market. The SMEs segment is expected to grow at a higher CAGR during the forecast period. Owing to the availability of cost-effective cloud solutions, QMS solutions and services are expected to witness a prominent growth rate among SMEs during the forecast period.

The cloud segment is expected to grow at a higher CAGR during the forecast period

The global QMS market has been segmented based on deployment modes into cloud and on-premises deployment. The cloud segment is expected to grow at a higher CAGR during the forecast period. The cloud deployment mode offers benefits, such as scalability and cost-effectiveness, which are expected to be instrumental in propelling the growth of the overall QMS market.

The workforce optimization segment is expected to grow at the highest CAGR during the forecast period

The global QMS solutions are used across application areas, including reporting and analytics, appointment management, customer service, query handling, in-store management, workforce optimization, real-time monitoring, and others (digital signage, and customer engagement). Waiting in line is one of the most commonly cited reasons for customer frustration. The workforce optimization segment is expected to grow at the highest CAGR during the forecast period. Companies and organizations across the world have started shifting to techno-based systems to optimize workflows and productivity. This, in turn, will drive the workforce optimization segment growth.

Market Dynamics

Drivers

• Increasing Need to Manage Customer Traffic and Customer Movement to Boost Productivity
• Need to Improve and Facilitate Customer Service Across Major Industry Verticals
• Rising Need to Improve Staff Efficiency and Enhance Customer Engagement During COVID-19

Restraints

• High Setup Costs for Queue Management System

Opportunities

• Advent of Advanced Technologies Such as Artificial Intelligence and Analytics

Challenges

• Data Safety and Security Issues

Companies Mentioned

• 2Meters
• Advantech
• Akis Technologies
• Att Systems
• Aurionpro
• Awebstar
• Business Automation
• Core Mobile
• Hate2Wait
• Jrni
• Lavi Industries
• Maliatec
• Onlinetoken
• Q-Nomy
• QLess
• Qmatic
• Qminder
• Qudini
• Sedco
• Skiplino
• Udentify
• Versionx
• Wavetec
• Xiphias
• Xtreme Media

For more information about this report visit https://www.researchandmarkets.com/r/hswq1c