Europe Virtual Queue Management System Market
No. of Pages: 118 | Report Code: TIPRE00025096 | Category: Technology, Media and Telecommunications
No. of Pages: 118 | Report Code: TIPRE00025096 | Category: Technology, Media and Telecommunications
Germany, Italy, Russia, France, the UK, and Italy are among major countries in Europe. Western European countries are known for high standard of living and high-income levels of people, thus resulting in high purchasing power of masses. It also has greater GDP per capita than the other parts in the region, which supports the positive outlook for the adoption of new technologies and products. Enterprises from various sectors such as retail, telecommunications, hospitality, FMCG, and media emphasize on investing in consumer experience management tools such as virtual queue management systems. For instance, Guarnieri Clinic, a multispecialty healthcare center in Italy, has deployed a virtual queue management solution in the form of a 17-inch touch-screen kiosk, installed at an entrance of the clinic, to streamline processes for consumers. The patients were continuously informed about waiting times, and the system also engages patients with various content and messages that might be of their interest. Asda Stores Ltd., one of the leading retailers’ chains in Europe, deployed a virtual queue management system across its 600+ stores in the UK during the pandemic, as one of the measures taken to ensure adherence to social distancing norms. 65% of the of customers rated the queuing service a 5 out of 5, and 67% of the customers voted the queuing service's effectiveness at enforcing social distancing a 5 out of 5. Further, 19% of customers joined the queue via QR code, while 81% joined via SMS. Similarly, Andermatt Swiss Alps ski resort was able to retain 66% of season revenue during the peak season in 2020, and its virtual queue management solutions played a major role in this performance. Several end-to-end technology providers and startups are increasingly investing in customer experience and analytics tools to enhance their offerings. Increasing emphasis on customer service across major industry verticals is the major factor driving the growth of the Europe virtual queue management system market.
The European region witnessed a varying impact of the COVID-19 pandemic across its economically diverse countries. For instance, countries such as Germany, the UK, the Netherlands, and France imposed stringent government restrictions and closed their borders to curb the virus spread. Additionally, countries such as Italy, Russia, and Spain witnessed a significant surge in cases, which led them to shut down business and manufacturing operations for a few months. However, numerous European countries witnessed swift recover from quarter 4 of 2020. Irrespective of the surge in number of COVID-19 cases and shutting down of business operations for months, manufacturers had to continue the production of essential products, resume it earlier than other businesses. However, since the travel activities were closed and theme parks, public places such as offices and corporate buildings were shutdown, the virtual queue management system market was heavily impacted. However, the pandemic brought a lot of positives for virtual queue management system market as many government offices, banks, healthcare, and other public places started using this technology in order to implement social distancing laws and improve public safety. For instance, in 36 branches in Bosnia and Herzegovina, Raiffeisen Bank has officially deployed SEDCO's full client visit management technology. Raiffeisen is taking this step to become a smart branch, with the ability to monitor the performance of all branches from the head office. In addition, British Airways and Qmatic have formed a new partnership. Also, companies operating in the region such as Akis Technologies are implementing new marketing strategies to offer their queue management solutions across Europe.
Strategic insights for the Europe 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$ 75.29 Million |
| Market Size by 2028 | US$ 123.34 Million |
| Global CAGR (2021 - 2028) | 7.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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 Europe is expected to grow from US$ 75.29 million in 2021 to US$ 123.34 million by 2028; it is estimated to grow at a CAGR of 7.3% from 2021 to 2028. The rising adoption of cloud technology is transforming the work pattern across diverse industry verticals by augmenting security, IT, and DevOps. Owing to the potential benefits, such as easy scalability and operational flexibility at reduced costs and low operational risks, the adoption of cloud-based solutions among enterprises has increased drastically over the past few years. The integration of advanced features in cloud solutions and constant development in the cloud architecture and algorithms are fueling the adoption of these solutions in diverse industry verticals such as retail, healthcare, BFSI, and consumer electronics. Real-time feedbacks from customers, improved communication with customers, regular data backup, high security, comparatively low operations costs, and instant provisioning features are among the other benefits of cloud-based virtual queue management solutions, thereby making these solutions an attractive option for companies, which will further boost its adoption among enterprises in the coming years.
The Europe 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 Europe 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; Hague Australia; Ombori; Qmatic; and Queue-it are among others.
The Europe Virtual Queue Management System Market is valued at US$ 75.29 Million in 2021, it is projected to reach US$ 123.34 Million by 2028.
As per our report Europe Virtual Queue Management System Market, the market size is valued at US$ 75.29 Million in 2021, projecting it to reach US$ 123.34 Million by 2028. This translates to a CAGR of approximately 7.3% during the forecast period.
The Europe 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 Europe Virtual Queue Management System Market report:
The Europe 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 Europe Virtual Queue Management System Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Virtual Queue Management System Market value chain can benefit from the information contained in a comprehensive market report.
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