The global Queue Management System(QMS) Market size to grow from USD 0.5 billion in 2020 to USD 0.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 4.0% during the forecast period. Factors such as the increasing need to manage customer traffic and customer movement to boost productivity and the rising need to improve staff efficiency and enhance customer engagement during COVID-19 are driving the adoption of the QMS market across the globe. QMS can be used at any location undergoing a significant footfall. Most of the organizations prefer QMS solutions and services to shorten on-site customer wait times and reduce walkaways.
The services segment is expected to grow at a higher CAGR during the forecast period
The global QMS market has been segmented based on components into solutions and services. The solutions segment is further segmented into platform and software, whereas the services segment includes managed services and professional services. The professional services segment is further segmented into consulting, system integration and implementation, and support and maintenance. The services segment is anticipated to grow at a higher CAGR during the forecast period. The growth of the services segment is governed by the complexity of operations and the surge in deployment of QMS software.
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The virtual solution type is expected to grow at a higher CAGR during the forecast period
The global QMS market has been segmented based on solution types into linear queuing and virtual queuing. The availability of a robust QMS in the marketplace enables end users to maintain a structured queue in their premises. Most of the end users in recent years have been showcasing immense interest in linear queuing and virtual queuing systems. The virtual QMS is expected to drive the growth of the market as organizations are seeking demand to avoid in-branch crowding and safeguard customer/staff during pandemic.
Queue Management System (QMS) helps service provider to manage customers in efficient way and ease the customer flow management. It is used to handle customer interactions in person and via the information shown on a screen. This smart system helps manage and control queues of people or customers and offers a range of modules that users can utilize to efficiently handle customer requests or queries in real time. Few of the QMS solutions come up with the capability to be integrated with digital signage solutions and customer feedback solutions to deliver holistic customer experiences. QMS is designed to manage walk-in services and is majorly used to manage interactions with customers, whether it be in person or through information displayed over the screen.
Some of the vendors in the QMS market include Advantech (Taiwan), Wavetec (Dubai), Aurionpro (India), Lavi Industries (US), QLess (US), Qmatic (Europe), SEDCO (UAE), Q-nomy (US), Core Mobile (US), MaliaTec (Lebanon), JRNI (England), Qudini (England), Qminder (UK), ATT Systems (India), XIPHIAS (India), AKIS Technologies (Europe), AwebStar (Singapore), Xtreme Media (India), Skiplino (Bahrain), Business Automation (Bangladesh), Udentify (Turkey), 2Meters (Germany), OnlineToken (US), Hate2wait (India), VersionX (India).These QMS vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global QMS market.
Advantech is one of the leaders in providing trusted, innovative products, services, and solutions. The company offers comprehensive system integration, hardware, software, customer-centric design services, embedded systems, automation products, and global logistics support. To embrace the trends of IoT, big data, and AI, Advantech promotes IoT hardware and software solutions with the Edge Intelligence WISE-PaaS core to assist business partners and clients in connecting their industrial chains. Advantech is also working with business partners to co-create business ecosystems that accelerate the goal of industrial intelligence. The company provides solutions to various verticals, including retail, hospitality, public space and service, and banking service and industrial service. The company offers intelligent QMS. Advantech’s intelligent QMS enables business owners to increase operational efficiency and service quality by shortening queues and reducing customer wait times. By streamlining operations, intelligent QMS can also reduce crowding and improve the overall service by delivering an excellent service experience
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Wavetec is one of the largest manufacturers and suppliers of QMS globally and it helps organizations improve their customer flow and manage queues with virtual and linear queuing solutions, queue displays, appointment bookings, queuing app, queue information, and a sophisticated queue management software. It also provides cutting-edge display technologies for Stock & Commodity Exchanges worldwide. The company caters to different industries, including airports and airlines, banking, DMV, education, healthcare, government, retail, stock exchange, and telecom. Wavetec has established a global footprint of regional offices in Barcelona, Dubai, Mexico, Karachi, Nairobi, Riyadh, Santiago, and Peru. The company provides standard, touchless, and customizable queuing solutions to cater to diverse queuing problems faced by organizations. Wavetec’s queue management software creates a seamless customer journey by providing different solutions, ranging from virtual and linear queuing systems to appointment booking options and a more sophisticated method, such as mobile app. Queuing solutions come with the capability to be integrated with digital signage solutions and customer feedback solutions to deliver holistic customer experiences.
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