No. of Pages: 158 | Report Code: BMIRE00029868 | Category: Technology, Media and Telecommunications
The South & Central America queue management system market was valued at US$ 31.87 million in 2023 and is expected to reach US$ 46.32 million by 2031; it is estimated to register a CAGR of 4.8% from 2023 to 2031.
The growth of small and medium enterprises (SMEs) is expected to present substantial opportunities for the expansion of the queue management system market during the forecast period. SMEs are often characterized by their agility and adaptability, enabling them to develop tailored solutions that meet specific customer needs more effectively than large-sized corporations. Moreover, in 2021, according to the Organisation for Economic Co-operation and Development (OECD), SMEs play a crucial role in the economic landscape of many countries, contributing approximately 50% of total employment and 40% of gross domestic product (GDP). As SMEs continue to grow and seek competitive advantages, the adoption of queue management systems (QMS) will increase as these businesses recognize the importance of enhancing operational efficiency and customer experience. As SMEs expand, they face rising customer expectations for quick and efficient service, making it essential to manage customer flow effectively. Queue management systems provide these enterprises with the tools to streamline operations, reduce wait times, and improve overall service delivery, which is crucial for retaining customers in a competitive market. Furthermore, the integration of digital solutions in SMEs is becoming more prevalent, allowing for the implementation of advanced QMS that utilize real-time data analytics to optimize service processes. This trend improves customer satisfaction as well as supports SMEs in achieving higher productivity and operational effectiveness, ultimately driving their sustainability in the marketplace.
The South & Central America queue management system market is segmented into Brazil, Argentina, and the Rest of SAM. The region witnessed rapid urbanization, which has resulted in the development of new commercial spaces, including shopping malls, recreation centers, educational institutes, office buildings, and hospitals. The rise in the construction of such buildings is expected to create a demand for efficient queue management systems. However, several countries in the region lack the infrastructure and resources required for utilizing technologically advanced automation solutions in various industries. Favorable measures by governments, amid many obstacles, are facilitating developments in various industries, especially healthcare, retail, and BFSI, at a sustainable pace. In addition, various initiatives are being taken for the development of the healthcare sector. In April 2023, the Government of Argentina announced that the Inter-American Development Bank (IDB) approved a US$ 200 million loan to strengthen Argentina's healthcare system. With a total value of US$ 600 million, this financing represents the first individual operation of a conditional credit line for investment projects. This first-ever individual operation aims to offer enhanced healthcare services in the country. Such initiatives in healthcare sectors are expected to fuel the growth of the market in South & Central America. As per a report published by CEPAL, South & Central America requires a total investment of US$ 53.2 billion during 2016–2040 to fill the capacity gap in airport infrastructure. To meet this challenge, governments, as well as air infrastructure concessionaires, are focusing on making significant investments in airport development projects, including the installation of queue management systems. Thus, the rise in investments is expected to boost the demand for queue management systems across the region during the forecast period.
The South & Central America queue management system market is categorized into type, component, application, and country.
Based on type, the South & Central America queue management system market is bifurcated into virtual queuing and linear queuing. The virtual queuing segment held a larger South & Central America queue management system market share in 2023.
In terms of component, the South & Central America queue management system market is bifurcated into solution and services. The solution segment held a larger South & Central America queue management system market share in 2023.
By application, the South & Central America 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 South & Central America queue management system market share in 2023.
Based on country, the South & Central America queue management system market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America queue management system market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 31.87 Million |
| Market Size by 2031 | US$ 46.32 Million |
| Global CAGR (2023 - 2031) | 4.8% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | South and Central America
|
| 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 South & Central America queue management system market.
The South & Central America Queue Management System Market is valued at US$ 31.87 Million in 2023, it is projected to reach US$ 46.32 Million by 2031.
As per our report South & Central America Queue Management System Market, the market size is valued at US$ 31.87 Million in 2023, projecting it to reach US$ 46.32 Million by 2031. This translates to a CAGR of approximately 4.8% during the forecast period.
The South & Central America 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 South & Central America Queue Management System Market report:
The South & Central America Queue Management System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Queue Management System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Queue Management System Market value chain can benefit from the information contained in a comprehensive market report.
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