Virtual Queue Management System Market Size, Trends and Growth Analysis by 2027

The virtual queue management system market is projected to expand from US$ 276.82 million in 2020 to US$ 436.00 million by 2028, reflecting a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.

As competition intensifies across various sectors, businesses are increasingly focusing on customer retention strategies to maintain their competitive edge. Recently, the significance of customer service has surged, prompting investments in advanced technologies, including virtual queue management systems, aimed at optimizing customer service processes and enhancing the overall customer experience. These systems incorporate features such as online appointment scheduling, smartphone-based virtual queuing, customer feedback mechanisms, and real-time monitoring capabilities. By utilizing these solutions, customers can enter a virtual waiting line to request services via digital devices like smartphones or computers, thereby eliminating the need to stand in physical queues.

Implementing virtual queue management systems allows organizations to minimize wait times, enhance communication, boost staff productivity, and improve service quality, ultimately leading to better management of customer flow and increased customer satisfaction. Notable companies such as Samsung, Nike, NHS, Tesco, NatWest, Walmart, Tickets.com, and Five Guys have made significant investments in these solutions. Consequently, the growing emphasis on customer service in today?s market is a key driver for the expansion of the virtual queue management system sector.

The market for virtual queue management systems is categorized by various factors including component, platform, organization size, end user, and geographical region. In terms of components, the market is divided into solutions and services. The platform segmentation includes web-based, kiosk-based, and mobile-based systems. Regarding organization size, the market is classified into small and medium enterprises and large enterprises. The end-user segmentation encompasses retail, hospitals and clinics, airports, museums and libraries, among others. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), The Middle East & Africa (MEA), and South America (SAM). In 2020, North America dominated the market share, followed by Europe and APAC, with APAC anticipated to exhibit the highest CAGR from 2021 to 2028.

The impact of the COVID-19 pandemic varied across Europe?s economically diverse nations. Countries like Germany, the UK, the Netherlands, and France implemented strict government measures and border closures to mitigate the virus's spread. Conversely, nations such as Italy, Russia, and Spain experienced significant case surges, leading to temporary business and manufacturing shutdowns. Nevertheless, many European countries began to recover swiftly from the fourth quarter of 2020. Despite the rise in COVID-19 cases and prolonged business closures, manufacturers of essential goods resumed production earlier than other sectors. However, the suspension of travel and the closure of public venues, including offices and corporate buildings, severely affected the virtual queue management system market.

On a positive note, the pandemic accelerated the adoption of virtual queue management systems as government offices, banks, healthcare facilities, and other public venues sought to implement social distancing measures and enhance public safety. For example, Raiffeisen Bank has deployed SEDCO's comprehensive client visit management technology across 36 branches in Bosnia and Herzegovina, aiming to transform into a smart branch capable of monitoring performance from the head office. Additionally, British Airways has partnered with Qmatic to trial a digital queuing solution at Heathrow Terminal 5, allowing customers to secure a virtual queue spot before arriving at the airport. Companies like Akis Technologies are also innovating their marketing strategies to promote queue management solutions throughout Europe.

The overall size of the virtual queue management system market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. This approach also provided an overview and forecast for the virtual queue management system market across all segments and regions. Furthermore, numerous primary interviews were conducted with industry stakeholders and experts to validate the data and gain deeper analytical insights. Participants included industry professionals such as VPs, 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 virtual queue management system market. Key players in this market include accesso Technology Group, plc, Advantech Co. Ltd., AKIS Technologies, eGlobe IT Solutions, Lavi Industries, Ombori, Queue-it, Qmatic, SEDCO, and Hague Australia.