Pune, May 20, 2020 (GLOBE NEWSWIRE) -- The global context aware computing market size is predicted to reach USD 132.15 billion by 2026, exhibiting a CAGR of 21.8% during the forecast period. The rising demand for advanced computing solutions will encourage the healthy growth of the market during the forecast period, states Fortune Business Insights in a report, titled “Context Aware Computing Market Size, Share & Industry Analysis, By Vendor (Mobile Network Operator, Device Manufacturer, and Online, Web, & Social Networking Vendors), By End-user (BFSI, Consumer Electronics, Media and Entertainment, Automotive, Healthcare, Telecommunication, Logistics & Transportation and Others), and Regional Forecast, 2019-2026” the market size stood at USD 27.46 billion in 2018. The booming electronic industry will promote the growth of the market during the forecast period.
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An Overview of the Impact of COVID-19 on this Market:
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Market Driver:
Penetration of Advanced Gadgets to Boost Market
The rising deployment of computing solutions in devices for applications such as emergency alerts, location tracking, and navigation will subsequently propel the growth of the market. The rising penetration of smart gadgets such as tablets, PC, smartphones, and wearable devices will spur lucrative opportunities for the market in the foreseeable future. The growing investment in context-aware applications by companies will propel the growth of the market.
The growing implementation of innovative technologies for customized solutions by companies such as Apple Inc., Amazon Inc, and Microsoft Corporation will bolster the healthy growth of the market. For instance, Apple announced, “Aware Programming Interfaces” (APIs) to innovate and develop enterprise applications. The unveiling of groundbreaking technology from Apple included Core ML, an advanced API to maneuver machine learning more efficiently on devices including iPhones, iPad, and others. Furthermore, the growing integration of artificial intelligence (AI) to perform superior tasks will further enable the speedy expansion of the market. The growing investment in the development of AI by major players will augment the growth of the market. For instance, Google announced the acquisition of Deepmind, a major technology Provider company based in the UK. The acquisition will aid the development of AI for e-commerce, games and other computer applications
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Regional Analysis:
Growing Popularity of Smart Wearables to Propel Growth in North America
The market in North America generated a revenue of USD 11.16 billion in 2018 and is expected to rise tremendously during the forecast period owing to the presence of major market leaders in the region. The surge in users of context-aware technology will further improve the market in the region. The rising integration of Internet of Things technology in smart wearable devices will aid expansion in the US. The growing adoption of smart homes along with the popularity of smart wearables will boost the market in North America. Moreover, the rising enterprise investments in context-aware applications and technologies by prominent players will promote growth in North America. The demand for context-aware computing applications for search engine recommendations and preference enhancement will foster the growth of the market. For instance, Amazon, an E-commerce platform uses an intelligent recommendation engine to understand purchases based on individual preferences, shopping history, specific feature product interest, and others.
Key Development:
2015: IBM announced the launch of context computing platforms to support security and information transmission without any context breach. IBM provides context-aware computing platforms to various industries including banking, financial, and insurance (BFSI), retail, government, and others.
List of the Key Companies Operating in the Context Aware Computing Market are:
- IBM Corporation
- Microsoft Corporation
- Cisco Systems Inc.
- Google LLC
- Oracle Corporation
- Amazon.com Inc.
- Samsung Electronics Co. Ltd
- Apple Inc.
- Intel Corporation
- Onapsis Inc.
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Detailed Table of Content
- Introduction
- Scope of the Study
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Overview
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunity
- Present and Future Market Trends
- Ecosystem Analysis
- Porter's Five Forces Analysis
- Threat of New Entrants
- Bargaining Power of Buyers/Consumers
- Bargaining Power of Suppliers
- Threat of Substitute Products
- Intensity of Competitive Rivalry
- Market Investment Analysis
- Use Case Analysis
- Global Context Aware Computing Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecasts
- By Vendor (Value)
- Mobile Network Operator
- Device Manufacturer
- Online, Web, and Social Networking Vendors
- By End User (Value)
- BFSI
- Consumer Electronics
- Media and Entertainment
- Automotive
- Healthcare
- Telecommunication
- Logistics and Transportation
- Others
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Vendor (Value)
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Context Aware Computing Market to Reach USD 132.15 Billion by 2026; Heavy Demand for Advanced Computing Solutions to Support Growth, states Fortune Business Insights™ - GlobeNewswire
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