Virtual Queue Management System Market Scope
The virtual queue management system allows queue management to be provided as a service to customers and eliminates traditional queue ordering rules that are currently designed and implemented in various organizations, restaurants, education institutes, and many others. Also, it provides benefits for customers waiting in line and business offering the virtual waiting experience. It provides various benefits such as increase basket size, eliminates long lines, and collect data about who is waiting. The customer has various advantages of the virtual queue management system including they can add and leave the queue, they can do it by Kiosk at the location, customers can predict their wait time by using the algorithm. Customers can add them using the booking process. Text messages will alert the customer as they’re nearing the beginning of the queue.
The Virtual Queue Management System market study is segmented by Type (Structured Queue, Unstructured Queue, Kiosk-Based Queue and Mobile Queue), by Application (Hospitals and Clinics, Banks and Financial Institutions, Private Utility Service Providers, Retail Outlets, Airline Check, Self-Service Restaurants, Government Offices, Telecom Service Centers and Others) and major geographies with country level break-up. According to AMA, the Global Virtual Queue Management System market is expected to see growth rate of 5.1% and may see market size of USD362.0 Million by 2026.
The Players having a strong hold in the market are wavetec (Dubai), Q-nomy Inc. (United States). Research Analyst at AMA estimates that Indian Players will contribute to the maximum growth of Global Virtual Queue Management System market throughout the predicted period.
Aurionpro Solutions Limited (India), wavetec (Dubai), Q-nomy Inc. (United States), Qminder Ltd (England), Seehash Softwares Pvt. Ltd. (India), Lavi Industries (United States), Advantech Co., Ltd. (Taiwan), ATT Systems (India), QLess, Inc. (United States), Qmatic (Sweden), XIPHIAS Software Technologies (India) and AKIS Technologies (Lithuania) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Virtual Queue Management System market by Type, Application and Region. On the basis of Type, Structured Queue are dominating the market in the year 2020 where as Mobile Queue stood as second largest market share.
On the basis of application, Retail Outlets segment is dominating the market in the year 2020 where as Banks and Financial Institutions segment stood as second largest market.
On the basis of geography, the market of Virtual Queue Management System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
On 7th October 2019, Qmatic has announced a partnership with Asia Technology. Through this, the company can strengthen its presence in Latin America. Through this agreement, the company can enhance its product offering including data insight solutions, cloud-based solutions, streamlined customer journeys, and smart queue management systems in Latin America.
On 14th October 2018, SkiplinoThe announced the investment for its cloud-based queue management system from Kuwait’s KISP Ventures. The financial details of the deal were not disclosed but Skiplino’s CEO Zaman AH. Zaman speaking to MENAbytes has confirmed that it’s a seven-figure USD deal, adding that further details will be disclosed soon.
Market Trend
- Growing Usage of Cloud in the Virtual Queue Management System
- High Adoption of Online Services Worldwide
Market Drivers
- Development of New Revenue Chanel in The Form of Restaurants
- Enhanced Customer Throughput
Opportunities
- Rising Demand for Customized Virtual Queue Management System
- Technological Innovation in the Queue Management
Restraints
- High Implementation and Maintenous Cost
Challenges
- Growing Concern Regarding Security and Authentication
Key Target Audience
Virtual Queue Management System Developers, Government Regulatory Bodies, Private Research Organizations, government Research Organization and Others
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