Context Rich Systems Market: Rapid rise in Smartphone Users causes Marketing Companies to Prefer CRS
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.
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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.
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