Europe Queue Management System Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 81 | Report Code: TIPRE00012201 | Category: Technology, Media and Telecommunications
No. of Pages: 81 | Report Code: TIPRE00012201 | Category: Technology, Media and Telecommunications
The Europe queue management system market was valued at US$ 205.83 million in 2023 and is expected to reach US$ 375.18 million by 2031; it is estimated to register a CAGR of 7.8% from 2023 to 2031.
As businesses in industries such as retail, healthcare, and hospitality experience a surge in customer foot traffic, the necessity for effective queue management becomes increasingly critical. The foot traffic to the three leading wholesale club chains has shown a remarkable year-over-year increase, for instance, visits to Costco risen by 7.2% when compared to 2019 figures. Furthermore, in the first fiscal quarter of 2022, Costco reported a significant increase in in-store sales, rising by 15%, accompanied by a 6.8% growth in global foot traffic. These figures indicate a strong and sustained consumer loyalty to the wholesaler within the US as well as internationally. This surge in customer visits indicates a growing consumer preference for bulk purchasing and value-driven shopping experiences, likely fueled by economic factors and changing consumer behaviors. As customers seek to maximize their expenditures, these wholesale clubs have become increasingly attractive destinations, providing a wide range of products at competitive prices. This trend highlights the importance of effective inventory management and staffing solutions to accommodate the influx of shoppers, as well as the need for enhanced customer experience strategies, such as efficient queue management systems, to ensure that high foot traffic translates into customer satisfaction and loyalty. A well-implemented queue management system (QMS) can significantly enhance customer experience by ensuring that the flow of customers is smooth and efficient, ultimately leading to higher satisfaction and retention rates.
In 2021, according to BestDoc Technology, its hospital queue management software provides real-time information regarding queue status, enabling patients to understand their position in line and anticipate their turn. This feature proved particularly beneficial during the COVID-19 pandemic, as it allowed individuals to wait in their vehicles and arrive only 5–10 minutes before their scheduled appointment, thereby minimizing their time spent within the hospital environment. Even post-pandemic, real-time notifications significantly enhance the patient experience and facilitate better management for hospital staff. In addition, this software aids in efficiently managing queues for various services, including laboratory and radiology, ultimately reducing wait times for both outpatient and inpatient departments, thereby alleviating patient anxiety.
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% worldwide, 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. Therefore, there is a high demand for sophisticated solutions that enable the easing of passenger throughput, thereby enhancing service efficiency and return on investment (ROI).
A restaurant chain often experiences high foot traffic during weekends and holidays, leading to long waits for tables. To enhance the dining experience, the restaurant adopted a waitlist management system that allows customers to add their names to a digital waitlist via a mobile app. Customers receive real-time updates on their wait status and can be notified when their table is ready. This not only reduces congestion at the entrance but also allows diners to explore nearby shops or enjoy a drink at the bar while waiting. As a result, the restaurant has witnessed an increase in customer retention and positive reviews, as patrons appreciate the convenience and efficiency of the system. Thus, the rising adoption of queue management systems and increasing foot traffic in various sectors drive the queue management system market.
The Europe queue management system market is segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. Germany, Italy, the UK, Spain, and other economically strong countries have been significantly implementing advanced solutions. The European Commission has set a plan to invest US$ 191.1 million in digital technologies under its latest Horizon Europe Programme. This program supports researchers in the region in developing digital technologies. In addition, the region is witnessing a rise in digitization in various industries, including BFSI. Nearly every notable banking institution in Europe has a digital transformation strategy. Offering digital services and goods around the clock and enhancing the customer experience are the main goals of most banking digitalization plans. Queue management systems are used to schedule appointments through smart digital signage and integrated web check-in, leading to the rising demand in banking organizations. Thus, the growing digitization in the banking sector is expected to fuel the growth of the queue management system market in Europe. Europe is also looking forward to developing artificial intelligence (AI), robotics, and new materials to adopt sustainability in business activities. For instance, in March 2023, 28 projects were selected for a peer review evaluation process. Among these, six AI and robotics-based projects received an investment of US$ 21.2 million for advancing European Artificial Intelligence (AI) and robotics. These projects aim to provide automation in business operations. Implementing AI in the queue management system helps the user monitor the customer in real time, optimize the customer flow through queues, and analyze the customer's status to make decisions. Thus, the rise in technological advancements is expected to fuel the growth of the market during the forecast period. Moreover, countries such as Germany, France, and the UK have increased their adoption of queue management systems to avoid long queues, ensure proper resource planning, and manage staff strategically, which is expected to boost the demand for queue management systems in the coming years.
The Europe queue management system market is categorized into type, component, application, and country.
Based on type, the Europe queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held a larger Europe queue management system market share in 2023.
In terms of component, the Europe queue management system market is segmented into solution and services. The solution segment held a larger Europe queue management system market share in 2023.
By application, the Europe queue management system market is divided into BFSI, hospitals, retail outlets, restaurants, utility service providers and airports, government offices, and others. The retail outlets segment held the largest Europe queue management system market share in 2023.
Based on country, the Europe queue management system market is categorized into France, Germany, the UK, Italy, Russia, and the Rest of Europe. The UK dominated the Europe queue management system market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 205.83 Million |
| Market Size by 2031 | US$ 375.18 Million |
| Global CAGR (2023 - 2031) | 7.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Skiplino, Wavetec, Aurionpro Solutions Ltd, Advantech Co Ltd, SEDCO Co Ltd, Lavi Industries, AKIS Technologies UAB, WaitWell, Verint Systems Inc, QLESS, OFFTEC Holding Group, and Waitwhile Inc are some of the leading companies operating in the Europe queue management system market.
The Europe Queue Management System Market is valued at US$ 205.83 Million in 2023, it is projected to reach US$ 375.18 Million by 2031.
As per our report Europe Queue Management System Market, the market size is valued at US$ 205.83 Million in 2023, projecting it to reach US$ 375.18 Million by 2031. This translates to a CAGR of approximately 7.8% during the forecast period.
The Europe Queue Management System Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Queue Management System Market report:
The Europe Queue Management System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Queue Management System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Queue Management System Market value chain can benefit from the information contained in a comprehensive market report.
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