Context rich systems are the latest rage in the global IT industry. Gartner Inc., has included this technology in the list of top ten strategic technology trends for 2015. The publication predicts an immense rise of the trend of context rich systems, which are said to have the ability to understand their users and make appropriate responses.
Rising Requirement for Adaptive and Reactive Technologies Boosts Context Rich Systems Market
Transparency Market Research (TMR), a market intelligence and research firm, has recently published a market study on the global context rich systems market. According to the report, the trend of context-rich systems is inlined with the rising demand for more adaptive as well as reactive technology. The customization of the experience is another reason, driving the demand for context rich systems.
The report states that the global market for context rich systems market stood at US$1.7 bn in 2014. Expanding at a CAGR of 15.90% between 2015 and 2022, the market is predicted to reach US$5.8 bn by the end of 2022.
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The increasing focus on user experience has boosted the worldwide context rich systems market to a high level. The rising penetration of mobile phones, the augmenting demand for laptops, smartphones, and tablets from consumers across the world, and increasing expenditure on IT infrastructure are also some of the significant reasons for the exceptional growth of this market.
Though the market looks thriving at once; however, concerns over privacy and data security and unavailability of appropriate standards are likely to hamper the development. Upselling and cross selling, on the other hand, are expected to benefit market players at all levels in the near future.
North America or Asia Pacific – Identifying the Future Market Leader
North America is the leading regional market for context rich systems. In 2014, it emerged as the biggest revenue generator, accounting for around 35% in the global context rich systems market.
The huge demand for context rich systems from B2B companies and the presence of many of the leading market players such as Apple (iPhone series), Research in Motion (Blackberry), and Google (Motorola and Android) in this region are the two main reasons for the dominance of North America.
Europe also boasts of the presence of major market participants and, owing to this, it has acquired the second position in the global market. However, it is the Asia Pacific region, which has taken the global market to storm. Analysts have projected the context rich systems market in Asia Pacific to report the fastest growth during the period from 2015 to 2022 and achieve a significant chunk of the overall market share.
The economic development of the emerging Asian nations, together with the rising investment for R&D activities in the area of context rich systems, is driving this regional market extensively.
Flytxt, IGATE Corp., Amazon.com Inc., DS-IQ Inc., Microsoft Corp., Apple Inc., Baidu, Google Inc., Facebook Inc., and InMobi are the major players operating in the global context rich systems market.