Context Rich Systems Market
Context Rich Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022
Global Context Rich Systems Market: Snapshot
Most consumer-oriented companies are constantly looking for ways to improve the consumer experience they can offer. This involves the analysis of various aspects of a user’s situation and the feedback they can offer. With the help of context rich systems, a company can analyze the entirety of the consumer experience spectrum through the combined use of big data, embedded sensors, and SMAC. Context rich systems can also offer a situational dynamic data entry for various environments for a stronger position for a client company. This forms the key driver supporting the growth of the global context rich systems market.
Additionally, the context rich systems players can look forward to the immense number of mobile subscribers that are still increasing in number at a high rate. 3.6 billion unique mobile subscribers were present in 2014 and the ITU expects another billion to be added by 2020. This is an almost overwhelming addition of Internet users over the coming years and a great opportunity for the providers of context rich systems solutions to put their strongest foot forward.
Current opportunities for most context rich systems providers lie in the cross selling and up selling of CRS across companies at different levels. Globally prominent players can focus on emerging economies from the APAC region for greater opportunities.
Owing to the above factors and others, the global market revenue for context rich systems is expected to progress at a CAGR of 15.9% from 2015 to 2022. This revenue is expected to reach US$2.43 bn by the end of 2016 and US$5.79 bn by the end of 2022.
North America and Europe to Remain Leading Markets for CRS Solutions
North America was the leading region for context rich systems solutions in the recent past and is expected to continue leading the demand for CRS solutions till 2022. This factor is attributed to the large IT industry base along with a highly consumer-oriented professional culture and the prominent presence of key players in the region. The large number of companies in North America that is currently implementing or deploying context rich systems solutions across multiple product and service offerings is instrumental to the staggering demand for CRS in the region. By the end of 2022, the revenue earned by CRS players from North America is expected to reach US$1.64 bn.
The scope of context rich systems solutions implementation in Europe is also very high at the moment, while organizations are focusing greatly on online advertising. Adding social media promotion and video promotions to the flurry of online advertising, the scope of context rich systems solutions in Europe is expected to remain very high for the coming years. Meanwhile, the demand for context rich systems in Asia Pacific is expected to skyrocket owing to a speedily developing IT infrastructure and the increasing Internet user population. Between 2015 and 2022, Asia Pacific demand for context rich systems solutions is expected to expand at a CAGR of 19.1%.
Smartphone User Base Soars, Pushes Demand for CRS Solutions
The massive influx of connected devices across the world, especially smartphones, is expected to be a significant driver of the demand for context rich systems. The more the number of connected devices come into existence, the greater will be the need for enhanced data mining solutions and context rich systems solutions. Mobile-based advertising is expected to be a key aspect considered by most consumer-based companies. This form of advertising is expected to become the leading segment that will revolutionize the way companies market their products. The high demand for smartphones and the consequent fall in demand for desktop and laptop PCs is expected to create a shift in paradigm for most consumer-oriented businesses, thereby creating greater opportunities for context rich systems players.
Key providers of context rich systems in a global sense include Facebook, Inc., Amazon.com, Inc., Baidu, Microsoft Corporation, DS-IQ, Inc., InMobi, Apple, Inc., Intel Corporation, IGATE Corporation, Google, Inc., Samsung Electronics Co., Ltd., and IBM Corporation.
Context rich systems or also known as context aware computing systems is a direct response to the growing demand of reactive & adaptive technology and personalization of the user experience. Context Rich systems is the accumulation of raw data with the help of analytics. The raw data include awareness of the surrounding environment and subsequently responds to the user actions. Some of the software’s designed for consumer centric/ commercial use at mobile platform level include Siri, Cortana and Google Now. The major beneficiaries of context rich systems can be realized at both commercial and enterprise level depending upon the requirement of the user. The different applications wherein context rich systems can play a pivotal role in steering the growth of respective markets include e-commerce & retail industry, healthcare sector, financial & banking (BFSI) services, travel & hospitality industry and transportation industry. The ecosystem of the context rich systems market is inclusive of both hardware and software components. The different hardware assisting the collection of raw data include sensors and actuators embedded into the various portable devices. Social networking sites wherein most of the customer information and preferences are generally available in public include, Facebook, Twitter, Pinterest, Instagram and Google+. In total, there are currently more than 1.40 billion registered users on Facebook, 1 billion on Google+, 300+ million on Twitter and the number of registered users continue to grow. Companies are leveraging on the technology and tools to outreach to vast numbers of active users among these social networking sites. Most of the companies are expected to leverage on tools and techniques to gather information and provide context rich and right information to the customers at the right time.
This research study on the global content rich systems (CRS) market provides a detailed analysis of various types of devices which enable context rich analytics and thus driving the rising demand for this service in various application sectors. The report also offers an in-depth analysis of various factors such as market drivers, restraints, and growth opportunities affecting the market dynamics. These factors enable the analysis of various trends that would impact the market during the forecast period from 2015 to 2022. The report includes a comprehensive coverage of the underlying economic and technological factors under key trend analysis influencing the CRS market. Furthermore, the report aims to provide strategic insights into the ecosystem of CRS market by applying value channel analysis. The market positioning analysis of key players throws a light on the prevalent competition in this market.
Based on the device type, the CRS market is segmented into Smartphones, Tablets, Desktops and Netbooks/Laptops. Based on factors such as budget, scalability, flexibility, and ease of use, user tend to choose a best-fit device in order to cater to their requirements and daily usage. Another factor that plays a key role in the adoption of CRS services and solutions is the type of application sector. Depending on the application sector, CRS solutions vary in terms of individual company requirements and compliance according to government regulations and statutory bodies. These applications include E-Commerce & Retail Sector, Healthcare Sector, BFSI Sector, Tourism & Hospitality Sector and Transportation Sector.
Various factors that affect the growth of CRS market have been identified in this report. The report aims to provide a comprehensive cross-sectional analysis of the CRS market across geographies including North America, Europe, Asia Pacific, Middle-East and Africa (MEA) and Latin America. In addition, the report provides a competitive landscape of the CRS market and identifies various business strategies adopted by the leading players. Under the company profiles section, the report provides an overview of the companies operating in the market, strategies deployed by them in the bid to gain competitive advantage, annual revenue generated by them in the past two/three years, and recent developments. The company profiles section of this report provides an overview of the companies operating in the market, strategies deployed by them to gain competitive advantage, annual revenue generated for past financial year, and recent developments. The companies profiled in this report include Amazon.com, Inc., Apple, Inc., Baidu, Inc., DS-IQ, Inc., Facebook, Flytxt, Google, Inc., InMobi, IGATE Corporation and Microsoft Corporation.
The Global Context Rich Systems market has been segmented as follows:
Context Rich Systems Market, by Devices
Context Rich Systems Market, by Application Sector
- E-commerce & retail industry
- Healthcare Sector
- Financial & Banking services
- Tourism & Hospitality industry
- Transportation industry
Context Rich Systems Market, by Geography
- North America
- Rest of the North America
- EU5 (U.K., Italy, Spain, France and Germany)
- Rest of Europe
- Asia Pacific (APAC)
- Oceania (Australia and New Zealand)
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- Latin America
- Rest of the Latin America