Virtual Queue Management System Market worth US$ 436.00 million, globally, by 2028 at 6.1% CAGR - Exclusive Report by the Insight Partners

The Insight Partners Published latest research study on "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) 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.

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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.

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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.

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

Virtual Queue Management System Market-Company Profiles
• 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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