According to The Insight Partners’ research, the queue management system market was valued at US$ 435.0 million in 2019 and is projected to reach US$ 618.9 million by 2027 to grow at a CAGR of 4.9% from 2020 to 2027. The focus on service quality enhancement and rising demand for customer retention and cost optimization solutions are the critical factors credited for market expansion.

With an objective to manage queues efficiently and improve service quality, service providers opt for queue management solutions. It offers automated queuing systems that allow customers to keep track of their queuing status at their convenience and simultaneously utilize the waiting time for other work. These pre-installed systems request shoppers to move forward to the next accessible counter, alleviate the crowd, and reduce the waiting time, thereby improving overall service quality.

Retaining potential customers is crucial for any service provider across any industry. This is primarily achieved by improving the service quality frequently. In today’s competitive market ecosystem, customers have a pool of options to shop from if their expectations are not fulfilled by certain outlet. For instance, an unorganized queue in a retail store that makes customers wait longer create a risk of losing a major chunk of shoppers. To mitigate such instances, several retailers are switching toward queue management system to retain customers. All these parameters boost the global queue management system market.

On the contrary, the stupendous growth in e-commerce worldwide and evolution of mobile apps in the BFSI sector to facilitate customers hinder the growth of global queue management system market.

Based on type, the market is split into virtual queuing and linear queuing. The former held 62.0% market share in 2019, generating the sum of US$ 269.5 million. It is anticipated to garner US$ 401.8 million by 2027 and expand at a CAGR of 5.5% during 2020–2027.

As per component, the queue management system market sphere is arrayed into solutions and services. The solutions segment led the domain in 2019, capturing 75.8% market share worth US$ 329.5 million. It is further speculated to amass US$ 452.0 million by 2027 to rise at an annual growth rate of 4.4% during the forecast period.

According to application, the global queue management system market is categorized into BFSI, hospitals, retail outlets, utility service providers & airports, restaurants, government offices, and others. With 30.3% share of the business, the BFSI segment dominated the market in 2019, amounting to the sum of US$ 131.7 million. It is expected to accrue US$ 168.0 million by 2027 to mark a CAGR of 3.4% throughout the forecast period.

Our regional analysis states that North America captured 37.0% market share in 2019, i.e., US$ 160.8 million. It is further expected to account US$ 194.6 million by 2027 to exhibit a CAGR of 2.7% along the forecast period. Meanwhile, Asia Pacific featured the highest CAGR at 7.1%. The regional business stood at the valuation of US$ 97.1 million in 2019 and can reach US$ 164.6 million by 2027.

The leading players in the global queue management system market are Qmatic, Qminder Limited, Q-nomy Inc, Seehash Softwares Pvt. Ltd, Skiplino, Wavetec, XIPHIAS Software Technologies Pvt. Ltd., Aurionpro Solutions Limited, Advantech Co. Ltd, and SEDCO, among others.

·         In May 2020, Qmatic expanded its partner network by collaborating with players from the US, Myanmar, India, Sweden, and Guatemala. Some of these major companies are Unified Technologies and Customer Computer Cables from the US, while DTSolutions from Guatemala.

·         In October 2018, Skiplino raised ‘Series A’ investment for its cloud-based queue management system from Kuwait’s KISP Ventures. This funding can enable Skiplino to access all its retail branches and subsidiaries worldwide.

In December 2018, Wavetec deployed its queue management system at Samsung’s stores in France, Kenya, and Spain. These locations witness a major influx and Wavetec’s system can streamline customers.