Published: Oct, 2018
According to a recent report compiled by Transparency Market Research (TMR), the competitive landscape of the global context rich systems market is presumed to show significant growth owing to the surge in urgency for improved consumer experience offered by companies. It includes various features of the user’s situation and the assessment that they can offer as well as work on.
Some of the major players of the global context rich systems market are Saxmsung Electronics Co., Ltd., IGATE Corporation, Microsoft Corporation, Amazon.com, Inc., IBM Corporation., Facebook, Inc., and Baidu. Players are looking forward to surge in the market as several mobile subscribers is increasing by the day. Apart from that, the number of internet users all over the world has increased drastically in the recent past. This offers lucrative opportunities for context rich systems solutions providers and manufacturers to put their best efforts in order to gain strong revenue in the market worldwide.
As per the TMR report, the global context rich systems market is anticipated to earn US$5.79 bn during the forecast period of 2015 to 2022. The CAGR is estimated to expand by 15.9% by the end of 2022. At present, distinguished players are putting more focus on the developing nations of the Asia Pacific region due to the upselling and cross-selling of Common Reporting Standard or CRS solutions at different levels across companies.
Asia Pacific to Witness Tremendous Growth with Surge in Number of Internet Users
Software Applications are an integral part of the market growth for context rich systems market as they are inclusive of cloud-based services and context-rich computing. Besides that, the software applications also include mobile computing and ubiquitous computing, thus forming an integral part of the context rich systems.
The market is mainly dominated by the regions of Europe, North America, Asia Pacific, Latin America and Middle East and Africa. Among them, North America is seen to be having the lion’s share and is further presumed to continue its dominance in the future years. This is because of the expansion of the IT industry base promoting professional culture with high consumer orientation channels. Europe, is not far behind and is focusing more on advertising online in order to give tough competition in the market. With the advent of video and social media promotions in trend with online advertising, the market in Europe is anticipated to be witness a high demand.
Asia Pacific is projected to be reaching sky limits owing to the rapid growth of internet users and smartphone buyers in the market. The IT infrastructure in this region is also developing at a faster speed contributing to the acceleration of the context rich systems market in the region.
Lack of Compliance to Affect Market Growth in Negative Light
Although the market for context rich systems is seen to be growing up to sky touching revenue shares, factors like privacy and security concerns and the lack of compliance, interoperability and standard issues may act as a hindrance in the long run. Besides that, the Solution Integrator and System Integrator complexities incorporated in the implementation of useful CRS solutions is also expected to hamper the overall context rich systems market in the years to come.
However, the marketing and e-commerce trade along with shopping applications and the offers they use to promote brands is expected to boost the growth of the context rich market within the forecast period.
The information presented in this review is based on a TMR report, titled, “Context Rich Systems Market ( Devices- Netbooks/Laptops, Desktops, Tablets, and Smartphones; Applications - Transportation Sector, Tourism & Hospitality Sector, Banking and Financial Institutions, Healthcare Sector, and E-commerce & Retail Sector) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2022”.
The global context rich systems market has been segmented as follows:
Global Context rich Systems Market by Devices
Global Context rich Systems Market by End-users
- E-commerce & Retail Industry
- Healthcare Sector
- Financial & Banking Services
- Tourism & Hospitality Industry
- Transportation Industry
Global Context rich Systems Market by Geography
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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