Context Rich Systems Market to Expand at 15.90% CAGR from 2015 to 2022 owing to Increase in Enterprise IT Spending

Transparency Market Research has published a new report on the global context rich systems market. As per the report, the global context rich systems market was valued at US$1.7 bn in 2014. The report, titled ‘Context Rich Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022’, states that the global context rich systems market is expected to expand at a 15.90% CAGR during the period between 2015 and 2022.

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The emergence of context rich systems, commonly known as context aware computing systems, is a direct response to the increasing demand for adaptive and reactive technology. Tablets, smartphones, personal computers, and netbooks are some of the portable devices in which users can easily personalize the technology. Context rich systems present an accumulation of raw information by using analytics. Raw data include awareness of the surrounding environment and a context rich system thus responds to the actions of the users. The global context rich systems market is primarily driven by increased enterprise IT spending and focus on customer experience. Increasing demand for devices such as tablets and smartphones is expected to boost the global context rich systems market in the years to come.

The global context rich systems market is segmented on the basis of device, application, and geography. By device, the global context rich systems market is classified into smartphones, tablets, netbooks/laptops, and desktops. In 2014, in terms of revenue, the global context rich systems market was dominated by the smartphones segment. Increased use of smartphones has resulted in enhancements in mobile-based advertisements to support marketing activities. The desktops segment is expected to register minimum demand for context rich systems during the forecast period due to the increased use of smartphones.

Based on application, the global context rich systems market is classified into e-commerce/retail, BFSI (banking, financial services, and insurance), healthcare, transportation, and tourism and hospitality. In 2014, in terms of revenue, the e-commerce segment dominated the global context rich systems market. The e-commerce segment accounted for 33% of the global market in 2014 and is predicted to maintain its dominant position during the forecast period. The increased number of customers opting for online shopping is expected to propel the e-commerce segment in the years to come.

Based on geography, the global context rich systems market is divided into North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. In terms of revenue, in 2014, North America dominated the global context rich systems market. In 2014, in terms of revenue, Europe was the second largest region and is expected to maintain its position in the years to come. Apple, Inc.’s iPhone series, Google, Inc.’s Android Series, Motorola Series, and Research in Motion (RIM), Inc.’s Blackberry are some of the leading players in the global context rich systems market.

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Concerns of privacy and security and lack of standards are two of the primary factors expected to restrict the growth of the global context rich systems market during the forecast period. However, economic growth of new entrants and increasing investments will encourage the growth of the global context rich systems market.

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