Asia Pacific Virtual Queue Management System Market
No. of Pages: 114 | Report Code: TIPRE00025097 | Category: Technology, Media and Telecommunications
No. of Pages: 114 | Report Code: TIPRE00025097 | Category: Technology, Media and Telecommunications
APAC countries are home for several small and medium enterprises (SMEs) that capitalize heavily on advanced technologies. China, India, Japan, South Korea, Singapore, Taiwan, and Malaysia are among the continuously growing economies in this region. APAC is experiencing digitization owing to the affordable prices of internet services and surge in the adoption of computers, laptops, and smartphones. Further, the presence of a large population and robust economic development in the region are driving the growth of the banking, financial services, and insurance (BFSI); retail; hospitability; education; and IT and telecommunications industries. Currently, BFSI is one the industries highly digitalized industries in the region as the governments of APAC countries are highly driven toward encouraging the adoption of digital currency. Further, owing to the increasing adoption of modern lifestyle, coupled with the rising disposal income among masses, the FMCG sector in the region is currently experiencing significant traction, which is subsequently contributing to the growth of the retail industry. Large organizations and SMEs in APAC are incorporating various customer experience management and analytical tools for improving the overall product offering, which is creating significant opportunities for the growth of the virtual queue management system market. With the thriving e-commerce industry and high inclination toward the development of their digital marketplace, companies are investing in various customer experience management and analytics operations to provide enhanced experience to their customers. Meanwhile, supermarket retailers are actively investing in customer experience management and analytics tools to increase retention rate of customer by improving the overall in store experience for them. Industries in APAC countries are facing substantial loss owing to the COVID-19 outbreak. Amid the outbreak, organizations in APAC are investing significantly in digital solutions such as virtual queue management systems. High growth potential in small- and medium-sized enterprises (SMEs) is the major factor driving the growth of the APAC virtual queue management system market.
Asia-Pacific constitutes the world’s two most populated countries that are also hubs for manufacturing – India and China. China virtually imposed strict lockdown and social isolation, which almost halted the manufacturing and production for several weeks. Moreover, the country also suspended the import as well as export of critical raw materials and components, which disrupted the global supply chains in early 2020. India also imposed a nationwide lockdown to keep a check on the growing COVID-19 cases across the country. As a result, lockdown, and disruption of industrial activities across China and India contributed to the disruption of supply chain of various raw material and goods. However, these countries had to permit the manufacturing of a few essential goods. However, growing technology breakthroughs and the introduction of smart queue management systems are promoting their adoption in hospitals, BFSI institutions, retail outlets, and other locations. However, healthcare institutions, airlines, and government offices, among other places, continue to experience long lines on a regular basis, fueling demand for virtual queue systems. However, APAC has seen significant increase in usage of Queue management technology. For instance, In India, the vaccination drive is conducted with the use of virtual slot booking and queuing in order to adhere to social distancing norms and increase effectiveness. Q-nomy Inc., Seehash Softwares Pvt. Ltd., Wavetec, XIPHIAS Software Technologies Pvt. Ltd., Aurionpro Solutions Limited, and Advantech Co. Ltd., are among a few players operating in the Asia-Pacific queue management system market.
Strategic insights for the Asia Pacific Virtual Queue Management System provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 67.20 Million |
| Market Size by 2028 | US$ 118.26 Million |
| Global CAGR (2021 - 2028) | 8.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Virtual Queue Management System refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The virtual queue management system market in APAC is expected to grow from US$ 67.20 million in 2021 to US$ 118.26 million by 2028; it is estimated to grow at a CAGR of 8.4% from 2021 to 2028. Owing to the increasing processing capability of microprocessors, affordable prices of internet, coupled with the decrease in prices of digital devices such as smartphones, tablets, and personal computers, the digitalization of various operations and processes has gained significant traction over the last decades, especially in emerging economies of Asia Pacific. Small- and medium-sized enterprises across the world are investing significantly to improve their business operations with the help of digitalization, as it helps in creating digital presence and new contact channels, improving decision making capabilities, and streamlining communication and collaboration while increasing efficiency and productivity. Thus, with the increasing digital transformations of various enterprises and government processes worldwide, along with growing adoption of digital devices by masses, the virtual queue management system market continues to grow at a significant pace.
The APAC virtual queue management system market is segmented on the bases of component, platform, organization size, end user, and country. Based on component, the market is segmented into solutions and services. The solution segment dominated the market in 2020 and is services expected to be the fastest growing during the forecast period. Based on platform, the virtual queue management system market is segmented into web based, kiosk based, and mobile based. The web-based segment dominated the market in 2020 and is mobile based segment expected to be the fastest growing during the forecast period. Based on organization size, the market is segmented into small and medium enterprises, and large enterprises. The large enterprises segment dominated the market in 2020 and small and medium enterprises segment is expected to be the fastest growing during the forecast period. Based on end user, the virtual queue management system market is segmented into retail, hospitals and clinics, airports, museums and libraries, and others. The others segment dominated the market in 2020 and retail segment is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the virtual queue management system market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are accesso Technology Group, plc; Advantech Co. Ltd.; AKIS Technologies; eGlobe IT Solutions; Hague Australia; Lavi Industries; Ombori; Qmatic; and Queue-it are among others.
The Asia Pacific Virtual Queue Management System Market is valued at US$ 67.20 Million in 2021, it is projected to reach US$ 118.26 Million by 2028.
As per our report Asia Pacific Virtual Queue Management System Market, the market size is valued at US$ 67.20 Million in 2021, projecting it to reach US$ 118.26 Million by 2028. This translates to a CAGR of approximately 8.4% during the forecast period.
The Asia Pacific Virtual 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 Asia Pacific Virtual Queue Management System Market report:
The Asia Pacific Virtual Queue Management System Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Virtual Queue Management System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Virtual Queue Management System Market value chain can benefit from the information contained in a comprehensive market report.
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