Asia Pacific Queue Management System Market Forecast to 2030
Asia Pacific Queue Management System Market Forecast to 2030 – Regional Analysis – By Type (Virtual Queuing and Linear Queuing), Component (Solution and Services), and Application (BFSI, Hospitals, Retail Outlets, Utility Service Providers and Airports, Restaurants, Government Offices, and Others)
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Description
Implementing Artificial Intelligence in Queue Management System Drives Asia Pacific Queue Management System Market
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.
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 implementation of AI-based queue management systems is likely to generate several growth opportunities for the market players during the forecast period.
Asia Pacific Queue Management System Market Overview
The queue management system in Asia Pacific is likely to grow during 2022-2030 attributed to the presence of industry-recognized queue management system manufacturers that are engaged in developing queue management systems. Numerous technology startups in Asia Pacific are focusing on implementing AI in business to improve operational efficiency. Per the recent International Data Corporation (IDC) report, in September 2023, 26% of companies in Asia Pacific (including Japan) had already made investments in Generative AI (GenAI), while 44% of companies underwent initial exploration before investing in GenAI. These companies are primarily impacted by AI technology in the areas of product development/design, research and development, sales and marketing, and customer engagement. The integration of AI in queue management systems helps reduce the customer’s waiting time. In addition, APAC is experiencing strong growth in the number of hospitals, banks, and retail outlets, catalyzing the queue management system market in the region.
Asia Pacific Queue Management System Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Queue Management System Market Segmentation
The Asia Pacific queue management system market is segmented based on type, component, application, and country.
Based on type, the Asia Pacific queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held a larger share in 2022.
By component, the Asia Pacific queue management system market is bifurcated into solution and services. The solution segment held a larger share in 2022.
By application, the Asia Pacific queue management system market is segmented into BFSI, hospitals, retail outlets, utility service providers and airports, restaurants, government offices, and others. The BFSI segment held the largest share in 2022.
Based on country, the Asia Pacific queue management system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific queue management system market in 2022.
Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Aurionpro Solutions Ltd, and Advantech Co Ltd are some of the leading companies operating in the Asia Pacific queue management system market.
Summary Info
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According to the Research Team’ research, the Asia Pacific queue management system market was valued at US$ 115.08 million in 2022 and is expected to reach US$ 196.58 million by 2030, registering a CAGR of 6.9% from 2022 to 2030. Increasing adoption to manage customer traffic and retain customers and implementing artificial intelligence in queue management system are among the critical factors attributed to the Asia Pacific queue management system market expansion.
The queue management system is an automated system designed to manage walk-in services. This system benefits organizations in managing as well as controlling queues of customers. It allows a business to accurately understand inefficiencies in the queues and address them on a regular basis to ensure a consistently positive experience. Queue management system offers benefits by enhancing business productivity and improving customer satisfaction.
Standing in a queue is a time-consuming process for both the customers and service providers, which increases the adoption of queue management systems in hospitals, banks, and clinics, among other businesses, for efficient management of queues. The system allows businesses to capture visitor data and extract intelligent customer reports that hold valuable data, which is used for informed decision-making.
Customer retention is among the crucial parameters for any service provider across industries. Improvements in service quality help service providers retain their customers for an extended period. In the modern era, customers have a wider range of options that are easily accessible; they can opt for other options in case the services offered by the business fail to meet their expectations. In December 2022, Yotpo Ltd. surveyed that various businesses are implementing loyalty programs to retain their customers. The loyalty programs influence over 83% of shoppers to buy again from the same store and mandate that stores adopt a queue management system. An unorganized queue in a retail store could lead to a loss in customers as shoppers tend to opt for competitor stores for better services. Owing to mitigate such scenarios, several retail service providers are opting for queue management systems in an effort to retain customers for an extended period. This factor supports the Asia Pacific queue management system market growth.
In addition, queue management solutions facilitate service providers in optimizing operational costs. The adoption and deployment of smart customer management systems enable service providers to understand the customer flow easily. Implementation of these smart technologies enables the service provider to conduct insightful analysis related to customer behavioral patterns, customer affluence, and distribution of services. The service providers benefit from the analysis as the data allows the service providers to strategically plan staff placement, thereby reducing the demand for increased human resources and ultimately optimizing cost. Owing to the benefits offered by queue management solutions, its adoption is rapidly increasing across the globe. Thus, the rising adoption of queue management systems in order to manage customer traffic and retain customers fuels the growth of the Asia Pacific queue management system market.
Thus, the rising focus on service quality enhancement in various sectors drives the growth of the Asia Pacific queue management system market.
On the contrary, tremendous growth in e-commerce worldwide hampers the growth of Asia Pacific queue management system market.
Based on type, the Asia Pacific queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held 64.8% share of the Asia Pacific queue management system market in 2022, amassing US$ 74.52 million. It is projected to garner US$ 134.44 million by 2030 to expand at 7.7% CAGR during 2022-2030.
By component, the Asia Pacific queue management system market is bifurcated into solution and services. The solution segment held 78.8% share of the Asia Pacific queue management system market in 2022, amassing US$ 90.65 million. It is projected to garner US$ 159.33 million by 2030 to expand at 7.3% CAGR during 2022-2030.
By application, the Asia Pacific queue management system market is segmented into BFSI, hospitals, retail outlets, utility service providers and airports, restaurants, government offices, and others. The BFSI segment held 31.4% share of the Asia Pacific queue management system market in 2022, amassing US 36.11 million. It is projected to garner US$ 52.92 million by 2030 to expand at 4.9% CAGR during 2022-2030.
Based on country, the Asia Pacific queue management system market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 25.5% share of Asia Pacific queue management system market in 2022, amassing US$ 29.31 million. It is projected to garner US$ 54.22 million by 2030 to expand at 8.0% CAGR during 2022-2030.
Key players operating in the Asia Pacific queue management system market are Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Aurionpro Solutions Ltd, and Advantech Co Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific queue management system market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the queue management system market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Queue Management System Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain:
5. Asia Pacific Queue Management System Market – Key Industry Dynamics
5.1 Drivers
5.1.1 Rising Focus on Service Quality Enhancement in Various Sectors
5.1.2 Increasing Demand in Healthcare Sector
5.1.3 Increasing Adoption to Manage Customer Traffic and Retain Customers
5.2 Market Restraints
5.2.1 Tremendous Growth in E-commerce Worldwide
5.2.2 Evolution of Mobile Apps by BFSI Sector
5.3 Market Opportunities
5.3.1 Implementing Artificial Intelligence in Queue Management System
5.4 Future Trends
5.4.1 Escalating Demand for Virtual Queue System
5.5 Impact of Drivers and Restraints:
6. Queue Management System Market – Asia Pacific Market Analysis
6.1 Asia Pacific Queue Management System Market Revenue (US$ Million), 2022 – 2030
6.2 Asia Pacific Queue Management System Market Forecast and Analysis
7. Asia Pacific Queue Management System Market Analysis – Type
7.1 Virtual Queuing
7.1.1 Overview
7.1.2 Virtual Queuing Market Revenue and Forecasts to 2030 (US$ Million)
7.2 Linear Queuing
7.2.1 Overview
7.2.2 Linear Queuing Market Revenue and Forecasts to 2030 (US$ Million)
8. Asia Pacific Queue Management System Market Analysis – Component
8.1 Solution
8.1.1 Overview
8.1.2 Solution Market Revenue and Forecasts to 2030 (US$ Million)
8.2 Services
8.2.1 Overview
8.2.2 Services Market Revenue and Forecasts to 2030 (US$ Million)
9. Asia Pacific Queue Management System Market Analysis – Application
9.1 BFSI
9.1.1 Overview
9.1.2 BFSI Market Revenue and Forecasts to 2030 (US$ Million)
9.2 Hospitals
9.2.1 Overview
9.2.2 Hospitals Market Revenue and Forecasts to 2030 (US$ Million)
9.3 Retail Outlets
9.3.1 Overview
9.3.2 Retail Outlets Market Revenue and Forecasts to 2030 (US$ Million)
9.4 Utility Service Providers and Airports
9.4.1 Overview
9.4.2 Utility Service Providers and Airports Market Revenue and Forecasts to 2030 (US$ Million)
9.5 Restaurants
9.5.1 Overview
9.5.2 Restaurants Market Revenue and Forecasts to 2030 (US$ Million)
9.6 Government Offices
9.6.1 Overview
9.6.2 Government Offices Market Revenue and Forecasts to 2030 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others Market Revenue and Forecasts to 2030 (US$ Million)
10. Asia Pacific Queue Management System Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific Queue Management System Market Breakdown by Countries
10.1.1.1 Australia: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.1.1 Australia: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.1.2 Australia: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.1.3 Australia: Asia Pacific Queue Management System Market Breakdown by Application
10.1.1.2 China: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.2.1 China: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.2.2 China: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.2.3 China: Asia Pacific Queue Management System Market Breakdown by Application
10.1.1.3 India: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.3.1 India: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.3.2 India: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.3.3 India: Asia Pacific Queue Management System Market Breakdown by Application
10.1.1.4 Japan: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.4.1 Japan: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.4.2 Japan: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.4.3 Japan: Asia Pacific Queue Management System Market Breakdown by Application
10.1.1.5 South Korea: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.5.1 South Korea: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.5.2 South Korea: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.5.3 South Korea: Asia Pacific Queue Management System Market Breakdown by Application
10.1.1.6 Rest of Asia Pacific: Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.1.6.1 Rest of Asia Pacific: Asia Pacific Queue Management System Market Breakdown by Type
10.1.1.6.2 Rest of Asia Pacific: Asia Pacific Queue Management System Market Breakdown by Component
10.1.1.6.3 Rest of Asia Pacific: Asia Pacific Queue Management System Market Breakdown by Application
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Queue Management System Market Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
13. Company Profiles
13.1 Q-MATIC Group AB
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Qminder Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Q-nomy Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Aurionpro Solutions Ltd
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Advantech Co Ltd
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1. Asia Pacific Queue Management System Market Segmentation
Table 2. Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 5. Asia Pacific Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. Asia Pacific Asia Pacific Queue Management System Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 7. Australia: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 8. Australia: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 9. Australia: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 10. China: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. China: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 12. China: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. India: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 14. India: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 15. India: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 16. Japan: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 17. Japan: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 18. Japan: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 19. South Korea: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 20. South Korea: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 21. South Korea: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 22. Rest of Asia Pacific: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 23. Rest of Asia Pacific: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 24. Rest of Asia Pacific: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 25. Company Positioning & Concentration
Table 26. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Queue Management System Market Segmentation, By Country
Figure 2. Ecosystem: Asia Pacific Queue Management System Market
Figure 3. Asia Pacific Queue Management System Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Asia Pacific Queue Management System Market Revenue (US$ Million), 2022 & 2030
Figure 6. Asia Pacific Queue Management System Market Share (%) – Type, 2022 and 2030
Figure 7. Virtual Queuing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Linear Queuing Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Asia Pacific Queue Management System Market Share (%) – Component, 2022 and 2030
Figure 10. Solution Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Services Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Asia Pacific Queue Management System Market Share (%) – Application, 2022 and 2030
Figure 13. BFSI Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Hospitals Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Retail Outlets Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Utility Service Providers and Airports Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Restaurants Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Government Offices Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Asia Pacific Queue Management System Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 21. Asia Pacific Queue Management System Market Breakdown by Key Countries, 2022 And 2030 (%)
Figure 22. Australia: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. China: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 24. India: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Japan: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 26. South Korea: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 27. Rest of Asia Pacific: Asia Pacific Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. Heat Map Analysis By Key Players
The List of Companies – Asia Pacific Queue Management System Market
1. Q-MATIC Group AB
2. Qminder Ltd
3. Q-nomy Inc
4. Aurionpro Solutions Ltd
5. Advantech Co Ltd
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