North America Queue Management System Market Forecast to 2030
North America 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
Escalating Demand for Virtual Queue System Drives North America Queue Management System Market
According to the United Nations Department of Economic and Social Affairs, the total population is expected to reach 8.6 billion and 9.8 billion by 2030 and 2050, respectively. The data also represented that ~83 million people are being added to the world’s population annually, and the upward trend in population size is anticipated to continue to rise in the coming years. With the rise in population, individuals seeking services from various businesses such as healthcare, banking & financial, government offices, and retail outlets are also likely to increase. Pertaining to this, numerous service providers have adopted various linear queuing management solutions to manage the queue efficiently. However, healthcare facilities, airports, and government offices still witness long queues of customers on a regular basis. In an attempt to reduce queues at various businesses, several queue management system market players are innovating and designing virtual queue systems, which enable customers to gather information about their queue status. The demand for the virtual queue system is gradually increasing among the above-mentioned sectors as this system allows customers to wait remotely. This is achieved through the use of smart technologies. Customers scan QR codes placed outside the premise and are able to receive an electronic token (e-token) number or queuing number, which can be used to gather information on queuing status. Thus, attributing to these benefits, the demand for virtual queuing systems is on the rise, which is anticipated to fuel the North America queue management system market in the coming years.
North America Queue Management System Market Overview
North America dominated the queue management system market, followed by Europe and Asia Pacific. The dominance of the market in North America majorly pertains to the existence of numerous end users across industries. The development of the North America queue management system market in North America is driven by the rising usage in the healthcare, aviation, and retail industries. The investment in the healthcare industry to adopt advanced technologies is rapidly growing across the region. According to JAHANI AND ASSOCIATES LLC, in 2022, the healthcare sector in the US observed an increase in capital market activities due to the impact of the COVID-19 pandemic. The healthcare industry received an investment of US$ 110 billion for the development of technology to improve healthcare services. Moreover, approximately 45% of the transactions in the healthcare industry were merger and acquisition (M&A) deals, which were performed by companies to develop the existing technology. The expansion of the healthcare industry owing to an increased number of patients visiting hospitals is fueling the market across the region. In addition, the country has a higher concentration of queue management system hardware manufacturers and software developers, which enables the end users to procure the systems from a variety of providers. The North America queue management system market in Canada and Mexico is also gaining popularity rapidly, as the number of system providers as well as end users is constantly increasing. Thus, the rising procurement rate is propelling the North America queue management system market.
North America Queue Management System Market Revenue and Forecast to 2030 (US$ Million)
North America Queue Management System Market Segmentation
The North America queue management system market is segmented based on type, component, application, and country.
Based on type, the North America 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 North America queue management system market is bifurcated into solution and services. The solution segment held a larger share in 2022.
By application, the North America 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 North America queue management system market is segmented into the US, Canada, and Mexico. The US dominated the North America queue management system market in 2022.
Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, and Lavi Industries are some of the leading companies operating in the North America queue management system market.
Summary Info
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According to the Research Team’ research, the North America queue management system market was valued at US$ 169.05 million in 2022 and is expected to reach US$ 246.30 million by 2030, registering a CAGR of 4.8% from 2022 to 2030. Rising focus on service quality enhancement in various sectors and escalating demand for virtual queue system are among the critical factors attributed to the North America queue management system market expansion.
The rapid growth in population is increasing customers queues in hospitals, retail shops, clinics, airports, and other facilities. The growing population has resulted an unorganized queue, which cause frustration among the crowd and deteriorate the service quality. In addition, at the time of peak business hours, the rush in the queue continues to surge, and this results in loss of service quality as the staff tries to manage the queue manually. According to Midlands Technical College data of January 2022, companies are losing their potential customers due to poor service and customer dissatisfaction. The data estimated that poor customer service incurred a loss on business, ranging from US$ 75 billion to US$ 1.6 trillion per year, owing to long queues, cost-cutting strategies, lack of understanding of customer desires, and sacrificing customer satisfaction for growth, among other issues. This loss in revenue is projected to increase in the coming years, which shifts customer preference to competitors’ products, thus resulting in the loss of potential customers. Offering enhanced service quality is of utmost importance among service providers, irrespective of the industry. With an objective to efficiently manage the queue and improve service quality, respective service providers opt for queue management solutions.
Automated queuing systems enable customers to check their queuing status at their convenience, which further allows them to utilize the waiting time on other work. Several service providers such as Wavetec, and Qmatic have procured and installed automated queue management systems, which automatically request shoppers/customers to move toward the next accessible counter. This eases the workflow, reduces customer waiting time, and improves staff and customer interaction, thereby upgrading the service quality. Thus, these benefits of the queue management system attract a significant number of service providers across industries.
As the passenger count continues to escalate, airports are challenged with the continuous demand for innovative solutions to control long queues. Per the International Air Transport Association (IATA), in March 2023, air traffic increased by 52.4% globally, which indicates an increased preference for airways facilities among consumers for traveling. Airports face a significant challenge in maintaining an organized queue at the ticketing counter, screening area, and customs section. Hence, there is a high demand for sophisticated solutions that enable the easing of passenger throughput, thereby enhancing service efficiency and return on investment (ROI). As a result, the adoption of the queue management system is on the rise among airports.
Thus, the rising focus on service quality enhancement in various sectors drives the growth of the North America queue management system market.
On the contrary, tremendous growth in e-commerce worldwide hampers the growth of North America queue management system market.
Based on type, the North America queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held 62.5% share of the North America queue management system market in 2022, amassing US$ 105.69 million. It is projected to garner US$ 162.82 million by 2030 to expand at 5.6% CAGR during 2022-2030.
By component, the North America queue management system market is bifurcated into solution and services. The solution segment held 75.5% share of the North America queue management system market in 2022, amassing US$ 127.56 million. It is projected to garner US$ 191.88 million by 2030 to expand at 5.2% CAGR during 2022-2030.
By application, the North America 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 28.2% share of the North America queue management system market in 2022, amassing US 47.74 million. It is projected to garner US$ 59.67 million by 2030 to expand at 2.8% CAGR during 2022-2030.
Based on country, the North America queue management system market is segmented into US, Canada, and Mexico. The US held 81.7% share of North America queue management system market in 2022, amassing US$ 138.18 million. It is projected to garner US$ 195.60 million by 2030 to expand at 4.4% CAGR during 2022-2030.
Key players operating in the North America queue management system market are Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, and Lavi Industries, 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 North America 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 North America 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. North America Queue Management System Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Vendors in Value Chain:
5. North America 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 – North America Market Analysis
6.1 North America Queue Management System Market Revenue (US$ Million), 2022 – 2030
6.2 North America Queue Management System Market Forecast and Analysis
7. North America 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. North America 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. North America 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. North America Queue Management System Market – Country Analysis
10.1 Overview
10.1.1 North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2 North America Queue Management System Market Revenue and Forecasts and Analysis – By Countries
10.1.2.1 US: North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.1.1 US: North America Queue Management System Market Breakdown by Type
10.1.2.1.2 US: North America Queue Management System Market Breakdown by Component
10.1.2.1.3 US: North America Queue Management System Market Breakdown by Application
10.1.2.2 Canada: North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.2.1 Canada: North America Queue Management System Market Breakdown by Type
10.1.2.2.2 Canada: North America Queue Management System Market Breakdown by Component
10.1.2.2.3 Canada: North America Queue Management System Market Breakdown by Application
10.1.2.3 Mexico: North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.2.3.1 Mexico: North America Queue Management System Market Breakdown by Type
10.1.2.3.2 Mexico: North America Queue Management System Market Breakdown by Component
10.1.2.3.3 Mexico: North America 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 Wavetec
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 Aurionpro Solutions 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
13.6 Advantech Co Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Lavi Industries
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
14. Appendix
14.1 Word Index
LIST OF TABLES
Table 1. North America Queue Management System Market Segmentation
Table 2. North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 5. North America Queue Management System Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. North America Queue Management System Market, by Country – Revenue and Forecast to 2030 (USD Million)
Table 7. US: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 8. US: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 9. US: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 10. Canada: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Canada: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 12. Canada: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 13. Mexico: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 14. Mexico: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Component
Table 15. Mexico: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn) – By Application
Table 16. Company Positioning & Concentration
Table 17. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Queue Management System Market Segmentation, By Country
Figure 2. Ecosystem: North America Queue Management System Market
Figure 3. North America Queue Management System Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. North America Queue Management System Market Revenue (US$ Million), 2022 & 2030
Figure 6. North America 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. North America 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. North America 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. North America Queue Management System Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 21. North America Queue Management System Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 22. US: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Canada: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 24. Mexico: North America Queue Management System Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 25. Heat Map Analysis By Key Players
The List of Companies – North America Queue Management System Market
1. Q-MATIC Group AB
2. Qminder Ltd
3. Q-nomy Inc
4. Wavetec
5. Aurionpro Solutions Ltd
6. Advantech Co Ltd
7. Lavi Industries
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