The global Queue Management System 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.
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The QMS market is expected to witness an insignificant slowdown in 2020 due to the global lockdown. The COVID-19 pandemic has increased the churn rate and shuddered almost every industry. The lockdown is impacting global manufacturing, and supply chains and logistics as the continuity of operations for various sectors is badly impacted. The sectors facing the greatest drawbacks are manufacturing, transportation and logistics, and retail and consumer goods. The availability of the essential items has been impacted due to the lack of manpower to work on production lines, supply chains, and transportation although the essential items are exempted from the lockdown. The condition is expected to come under control by early 2021 while the demand for QMS solutions and services is expected increase, which is due to the increased demand for enhanced customer experience and build a personalized relationship with the prospects. Several verticals are already planning to deploy a diverse array of QMS solutions and services to enable digital transformation initiatives, which address mission-critical processes, improve operations, and authenticate user’s identification. The reduction in operational costs, better customer experiences, fraud detection and prevention, enhanced authentication processes and operations, and improved real-time decision-making are the key business and operational priorities that are expected to drive the adoption of the QMS market.
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.
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.
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Unique Features in the Queue Management System Market
Online and Offline Integration: Cutting-edge QMS systems frequently offer integration with online and offline channels, enabling users to join lines both in person at physical sites and via web or mobile applications.
Mobile App Integration: A few QMS systems allow users to virtually queue by utilising a mobile app to join a queue from a distance. This improves customer convenience by eliminating the need for actual waiting lines.
Appointment-Based Queues: The QMS may provide capabilities for making and keeping appointments. Clients can reserve particular timeslots for services, cutting down on wait times and guaranteeing a more efficient flow of guests.
Updates in real time: QMS frequently has the ability to notify clients in real time about their queue status, anticipated wait periods, and when it is their turn for service. You can send notifications by email, mobile apps, or SMS.
Automated Check-In: To expedite the check-in process, many QMS solutions come with self-service kiosks where clients may check themselves into a queue, choose services and print tickets.
Data Insights: QMS may give analytics tools that shed light on peak hours, client behaviour, and the effectiveness of its services. Organisations can increase overall service quality and optimise staffing levels with the aid of these insights.
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Top Key Companies in the Queue Management System Market
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
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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