Virtual Queue Management System Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The virtual queue management system market size is projected to reach US$ 512.5 million by 2031 from US$ 312.6 million in 2023. The market is expected to register a CAGR of 6.3% during 2023–2031. Growing cloud-based solutions across enterprises is likely to remain a key trend in the market.

Virtual Queue Management System Market Analysis

Virtual queue management can lead to higher customer satisfaction, streamlined communication, enhanced customer flow, and shorter wait times. Companies that use a virtual queue system can also accommodate more clients. Virtual queuing systems provide for improved management of airport passenger traffic. This helps to avoid overcrowding and ensures better transitions between activities like check-in, security checks, and boarding.

Virtual Queue Management System Market Overview

Virtual queuing solutions minimize or eliminate physical queues, ensuring customers spend less time waiting in line. Virtual queues provide real-time updates, keeping customers informed about their position and enhancing their overall experience. Virtual queue management solution reduces additional labor costs and ensures that resources are deployed effectively. Virtual queue management systems also benefit you by allowing one to intelligently direct a customer to the right queue based on their service needs. If a customer chooses the wrong queue by mistake, one can quickly alter it for them.

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Virtual Queue Management System Market: Strategic Insights

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Virtual Queue Management System Market Drivers and Opportunities

Increasing Need to Manage Customer Traffic to Favor Market

Monitoring consumer traffic is critical to a business's performance. Traffic analysis tracks client actions and habits while also interpreting their meaning. Monitoring consumer traffic has several advantages. In terms of security, tracking customer activity and identifying a location's most frequented sections can assist in preventing certain areas from being overrun. Furthermore, traffic monitoring can ensure that these locations are secure and that the incorrect persons do not gain access. Traffic monitoring can be used in a variety of businesses, including financial institutions, retail shops, hospitals, government buildings, office buildings, campuses, warehouses, and many more. Monitoring consumer traffic also helps to ensure that a shopping experience or admission into a secure facility is not unduly delayed due to excessive lines. The ensuing data from monitoring activities enables business owners to gain a solid grasp of which areas are the most popular, which they can then use to their advantage and prepare appropriately. Thus, increasing need to manage customer traffic, driving the growth of the market.

The Advent of AI and Analytics.

As retailers increasingly adopt omnichannel strategies, AI queue management technologies play an important role in connecting online and physical interactions. Customers can use a store's app to see real-time queue lengths, allowing them to decide whether to attend or reserve a slot to avoid waiting. This seamless integration increases consumer happiness and loyalty. Further, AI can be used to estimate consumer wait times in a queue. Customers may see how long they will have to wait for service in real-time. This allows customers to plan their trips and avoid excessive queues, potentially deciding to return later when it is less busy. If this information is provided online, they can choose to arrive when the wait is at its shortest. This will also benefit the business by smoothing demand and making better use of resources. AI can help prioritize clients in a wait. This means that clients with urgent demands, such as those who need to make a bank deposit by a specific time or who are running late for their trip, might be served ahead of those with less pressing needs. This can help to ensure that no one has a terrible outcome and cannot be served.

Virtual Queue Management System Market Report Segmentation Analysis

Key segments that contributed to the derivation of the virtual queue management system market analysis are component, platform, and end user.

• Based on components, the virtual queue management system market is segmented into solutions and services.
• By platform, the market is segmented into web-based, kiosk-based, and mobile-based.
• By organization size, the market is segmented into small & medium enterprises and large enterprises.
• In terms of end-users, the market is segmented into retail, hospitals & clinics, airports, museums & libraries, and others.

Virtual Queue Management System Market Share Analysis by Geography

The geographic scope of the virtual queue management system market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America. North America is a technologically advanced region. The region is increasingly adopting various digital solutions. Further, the presence of IT giants drives the growth of the market. The virtual queue procedure fundamentally alters how individuals wait in line, dramatically increasing the consumer experience. Customers may check in from any place on their phone, view wait times, and contact service members without having to engage in person, due to which the adoption of virtual queue management is growing.

Virtual Queue Management System Market Regional Insights

The regional trends and factors influencing the Virtual Queue Management System Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Virtual Queue Management System Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Virtual Queue Management System Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Virtual Queue Management System Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Virtual Queue Management System Market are:

1. accesso Technology Group, plc
2. Advantech Co. Ltd.
3. AKIS Technologies
4. eGlobe IT Solutions
5. Lavi Industries
6. Ombori

Disclaimer: The companies listed above are not ranked in any particular order.

Virtual Queue Management System Market News and Recent Developments

The virtual queue management system market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the virtual queue management system market are listed below:

• Qtrac by Lavi Industries, the provider of virtual queue management and appointment scheduling systems, today announced the availability of its Qtrac NextGen Platform. The latest edition of Qtrac's queue management system provides enterprises with an improved enterprise platform that is scalable, secure, and comprehensive. It generates new revenue streams by combining powerful business information and digital marketing skills, allowing firms to improve the customer experience while also increasing staff engagement and productivity. (Source: Qtrac, November 2021)
• Monta launches a virtual queuing system for EV charging. The new smart queue' function allows drivers to join virtual queues at one or more charging stations and receive fast notifications when a Chargepoint becomes available, to lower the likelihood of vehicles running out of juice when traveling long distances. (Source: Monta, October 2021)

Virtual Queue Management System Market Report Coverage and Deliverables

The “Virtual Queue Management System Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Virtual queue management system market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Virtual queue management system market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Virtual queue management system market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the virtual queue management system market
• Detailed company profiles