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Queue Management System Market is expected to reach US$ 738.97 million by 2030

Queue Management System Market size is expected to grow at a CAGR of 5.5% during 2022-2030, to surpass US$ 738.97 Million by 2030, from US$ 482.73 Million in 2022.

By The Insight Partners

Implementing Artificial Intelligence in Queue Management System Provide Opportunities for Queue Management System Market During 2022–2030

According to our latest market study on "Queue Management System Market Size and Forecast (2020–2030), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Type, Component, and Application," the market was valued at US$ 482.73 million in 2022 and is expected to reach US$ 738.97 million by 2030; it is estimated to record a CAGR of 5.5% from 2022 to 2030.

The rise in customer expectations associated with their time influences service providers to adopt queue management systems. The most common customer complaints include long queues at banks, retail stores, airports, hospitals, and other public places, especially during peak hours or holidays. In order to access services in public facilities, consumers are often impatient and stressed and progress through queues. Moreover, according to the World Health Organization, the proportion of the geriatric population is expected to increase from 12% in 2015 to 22% by 2050. Older people suffering from cardiovascular disease, osteoporosis, and dementia require frequent visits to hospitals. Per the National Institute of Health Data, in 2022, approximately 21% of the geriatric population in India have at least one chronic disease such as Alzheimer's, arthritis, asthma, and cancer. Similarly, hypertension and diabetes account for ~68% of all chronic diseases; these diseases increase the number of patient visits to hospitals. Hence, long queues at medical facilities can be a physical burden to them, which generates the demand for AI-based queue management software, propelling the growth of the queue management system market. 

Queue Management System Market — by Geography, 2022

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Source: The Insight Partners Analysis

The use of an AI-based queue management system supports healthcare and other facilities to solve their customer's problems. An AI-based queue management system leverages artificial intelligence to minimize wait times, manage queues, and improve patient experience. It uses real-time data to predict customer traffic and allocate resources accordingly by providing customers with a seamless and hassle-free experience. AI-based queue management systems help reduce customer frustration and improve overall customer’s satisfaction. It is capable of monitoring customer traffic and queue length in real time, providing business owners with accurate data to make informed decisions. Thus, the growing implementation of AI-based queue management systems is likely to generate lucrative opportunities for the queue management system market growth during the forecast period.

Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Skiplino, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, SEDCO Co Ltd, Lavi Industries, and AKIS Technologies UAB are among the key queue management system market players profiled in the report. Several other major queue management system market players were also studied and analyzed during this market research study to get a holistic view of the market and its ecosystem. The queue management system market report provides detailed market insights, which help the key players strategize their growth.

The British Retail Consortium (BRC) directed businesses about the way to operate their shops after the relaxation of lockdown. These included the adoption of queue management in shopping centers, thereby driving the growth of the queue management system market in the UK. Retailers across the country are adopting efficient queue management solutions to enhance customer retention. On a yearly average, British retailers lose ~US$ 1.23 billion owing to long queues at the checkout, as per the research conducted by EE Ltd., a mobile network operator company. Many manufacturers are focusing on developing queue management systems to attract more customers. For instance, in October 2020, ufirst launched a queue management system in the UK. The system is licensed to client businesses and allows users to join a single queue or different queues remotely by using an app and the web. The queue management system shows customers where they are in each queue. It is also used to check a specific time and date to access a service by booking a slot in advance. Thus, all the above factors are fueling the queue management system market growth in the UK.

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