South & Central America Queue Management System Market Forecast to 2030 - Regional Analysis - By Type, Component, and Application

The South & Central America queue management system market was valued at US$ 25.39 million in 2022 and is expected to reach US$ 33.07 million by 2030; it is estimated to grow at a CAGR of 3.4% from 2022 to 2030.

Escalating Demand for Virtual Queue System Drives South & Central America Queue Management System Market

According to the United Nations Department of Economic and Social Affairs, the total population is expected to reach 8.6 billion and 9.8 billion by 2030 and 2050, respectively. The data also represented that ~83 million people are being added to the world's population annually, and the upward trend in population size is anticipated to continue to rise in the coming years. With the rise in population, individuals seeking services from various businesses such as healthcare, banking & financial, government offices, and retail outlets are also likely to increase. Pertaining to this, numerous service providers have adopted various linear queuing management solutions to manage the queue efficiently. However, healthcare facilities, airports, and government offices still witness long queues of customers on a regular basis. In an attempt to reduce queues at various businesses, several queue management system market players are innovating and designing virtual queue systems, which enable customers to gather information about their queue status. The demand for the virtual queue system is gradually increasing among the above-mentioned sectors as this system allows customers to wait remotely. This is achieved through the use of smart technologies. Customers scan QR codes placed outside the premise and are able to receive an electronic token (e-token) number or queuing number, which can be used to gather information on queuing status. Thus, attributing to these benefits, the demand for virtual queuing systems is on the rise, which is anticipated to fuel the South & Central America queue management system market in the coming years.

South & Central America Queue Management System Market Overview

The South 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, among others. 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 October 2019, Qmatic partnered with Agia Technology to strengthen its presence in South America. The partnership agreement allows Qmatic to improve Agia Technology's customer experience offerings by delivering cloud-based solutions, valuable data insight solutions, streamlined customer journeys, and smart queue management systems. Thus, rising technological developments in these industries are increasing the adoption of queue management systems across the region.

Further, as per a report published by CEPAL, South 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.

South & Central America Queue Management System Market Segmentation

The South & Central America queue management system market is segmented based on 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 share in 2022.

By component, the South & Central America queue management system market is bifurcated into solution and services. The solution segment held a larger share in 2022.

By application, the South & Central America queue management system market is segmented into BFSI, hospitals, retail outlets, utility service providers and airports, restaurants, government offices, and others. The BFSI segment held the largest share in 2022.

Based on country, the South & Central America queue management system market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America queue management system market in 2022.

Q-MATIC Group AB, Qminder Ltd, Q-nomy Inc, Wavetec, and Advantech Co Ltd are some of the leading companies operating in the South & Central America queue management system market.