The market for queue management systems was valued at approximately US$ 748.18 million in 2023 and is projected to grow to around US$ 1,331.48 million by 2031. This market is expected to experience a compound annual growth rate (CAGR) of 7.5% from 2023 through 2031.
In Europe, the queue management system market is further divided into several regions, including the UK, Germany, France, Italy, Russia, and the rest of Europe. Countries such as Germany, Italy, the UK, and Spain, which have robust economies, are increasingly adopting advanced queue management solutions. The European Commission has announced a significant investment of US$ 191.1 million in digital technologies as part of its Horizon Europe Programme, aimed at supporting regional researchers in the development of digital innovations. Furthermore, various industries, particularly the banking, financial services, and insurance (BFSI) sector, are experiencing a surge in digitization. Almost every major banking institution in Europe is implementing a digital transformation strategy focused on providing 24/7 digital services and enhancing customer experiences. Queue management systems facilitate appointment scheduling through smart digital signage and integrated web check-in, which is driving demand within banking organizations. Consequently, the ongoing digitization in the banking sector is likely to propel the growth of the queue management system market across Europe.
Additionally, Europe is committed to advancing artificial intelligence (AI), robotics, and innovative materials to promote sustainability in business practices. For example, in March 2023, 28 projects were selected for a peer review evaluation, with six AI and robotics initiatives receiving a total investment of US$ 21.2 million aimed at enhancing European AI and robotics capabilities. These projects are designed to automate business operations. The integration of AI into queue management systems allows for real-time customer monitoring, optimization of customer flow through queues, and analysis of customer status to inform decision-making. Therefore, the rise in technological advancements is anticipated to further stimulate market growth during the forecast period. Moreover, countries like Germany, France, and the UK are increasingly adopting queue management systems to minimize long wait times, ensure effective resource allocation, and strategically manage staff, which is expected to contribute positively to the growth of the queue management system market in the near future.
The queue management system market is categorized by end users, which include hospitals, BFSI, retail outlets, utility service providers, airports, restaurants, government offices, and others. In 2023, the retail outlets segment accounted for the largest share of the queue management system market. Retail outlets are among the primary adopters of queue management systems globally, primarily due to the need to manage and control long queues at payment counters. The retail sector has seen significant growth with the emergence of hypermarkets, supermarkets, and convenience stores, which regularly experience high customer traffic. The advantages provided by queue management solutions have attracted a considerable number of retail owners, leading to sustained demand for these systems within the retail sector. By implementing a queue management system, retailers can gain valuable insights into customer behavior, anticipate needs, and effectively manage customer flows while allocating resources and self-service options based on real-time demand. These factors collectively enhance the demand for queue management systems in retail environments.
Key players in the queue management system market include Q-Matic Group Ab, Qminder Ltd, Skiplino, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, Sedco Co Ltd, Lavi Industries, Akis Technologies UAB, Proside Design and Implementation of Computer Solutions LDA, Waitwell, Verint Systems Inc, Qless, Offtec Holding Group, and Waitwhile, Inc. These companies, along with several other significant players, have been analyzed in the queue management system market report to provide a comprehensive overview of the market landscape and its ecosystem.
The overall market share for queue management systems has been determined through a combination of primary and secondary research methods. Extensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative data related to the queue management system market. This research process aids in developing an overview and forecast of the market across all segments. Additionally, numerous primary interviews have been carried out with industry stakeholders to validate the findings and gain deeper analytical insights. This includes discussions with industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the queue management system market.