Context Rich System Market - Forecast(2024 - 2030)

Context Rich System Market Overview

The Global Context Rich System market size is forecast to reach $3.8 billion by 2027, growing at a CAGR 9.5% during the forecast period 2022-2027. Increasing penetration of connected devices establishing a digital ecosystem by leveraging adaptive and reactive technologies have been impacting the market growth forward. Context Rich System utilizes Application Program Interface (API) as a part of creating applications on the basis of heterogeneous computing technology. Context aware system is a part of an interactive platform, involved in sensing contextual situations such as facial detection and recognition, location, and so on. Factors such as burgeoning demand among retailers to understand consumer context better, growth in context aware digital signage, growing adoption of context-rich systems across banking or financial firms can be considered vital in boosting the market growth in the long run. Increasing adoption of human computer interaction (HCI) platform with an aim to understand the contextual situations efficiently while anticipating immediate requirements and offering situation-aware solutions proactively is further impacting the market growth. In addition, rising investment towards development of networking, artificial intelligence and software technologies is also set to foster the market growth during 2022-2027.

Report Coverage

The report: “Context Rich System Market Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Context Rich System Market.

By Offering: Software, Hardware (Sensors, Mobile Processors, Bluetooth Low Energy Chip), Services
By Technology: Ubiquitous Computing, Mobile Computing
By End Device: Smartphones, Tablets, Desktops/Laptops, Satellite Navigation System, Others
By Application: Active Maps, Adaptive Mobiles, Augmented reality and Virtual Reality gaming, Virtual Shopping Assistants, Others
By Industry Vertical: Healthcare, Retail & E-commerce, Education, Consumer Electronics, Transportation & Logistics, Gaming, Media & Entertainment, Tourism & Hospitality, BFSI, Others
By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain and Others), APAC (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others) and RoW (Middle east and Africa)

Key Takeaways

• Mobile computing segment is analyzed to witness the highest growth in the global Context Rich System Market during 2022-2027, due to rising demand towards mobile devices including smartphones, wearables and others, along with penetration of high-speed internet or wireless services.
• North America Context Rich System Market held the largest share in 2021, attributing to factors like high investment towards ubiquitous computing platforms, proliferation of new mobile sensing applications and many others.
• Rising integration of advanced technologies like artificial intelligence within context rich systems along with growing advancement of applications based on context rich systems as a part of enhancing security in BFSI sector are analyzed to significantly drive the global Context Rich System Market during the forecast period 2022-2027.

Context Rich System Market Segment Analysis – By Technology

By technology, Context Rich System Market has been segmented into Ubiquitous Computing and Mobile Computing. Mobile Computing segment is estimated to witness the highest growth with a CAGR of 10.3% in the global context rich system market during the forecast period 2022-2027. Rising demand towards mobile devices including smartphones, wearables and others, along with penetration of high-speed internet as well as wireless services, have been attributing to its market growth. Mobile computing systems incorporate context in sensor equipped devices, aiming towards statistically analyzing circumstances while offering a proactive situation aware solution. Additionally, growing ubiquity of mobile devices and increasing demand for interactive applications have been raising the use of contextual information in modern mobile applications. With the growth in machine learning algorithms, context-aware mobile phones create efficient user context model, enhancing the interaction between user and apps, eventually driving the market growth forward. In November 2021, OnePlus announced about the launch of OnePlus Nord 2 5G smartphone series. This model utilizes context awareness functions to facilitate detection of content on the screen with an aim to convert content into high dynamic range (HDR) from standard dynamic range. Such developments are further set to fuel the market growth of context rich mobile computing devices in the long run.

Context Rich System Market Segment Analysis - By Industry Vertical

By industry vertical, Context Rich System Market has been segmented into Healthcare, Retail & E-commerce, Education, Transportation & Logistics, Gaming, Media & Entertainment, Tourism & Hospitality, BFSI and Others. BFSI sector dominated the global Context Rich System market with a share of 39% in 2021, and is also anticipated to witness a significant growth during the forecast period 2022-2027. Growing investment towards cybersecurity solutions in banking sector to ensure seamless digital banking experience can be considered as one of the prime factors driving its market growth. With the rising demand towards user validation and verification as a part of facilitating secured online transaction solutions, fin-tech companies have started adopting cybersecurity solutions which are context-aware, aiming towards mitigating the risks of potential data breaches as well as sophisticated cyber-attacks, which in turn have contributed towards the market growth. According to the report published by UK Finance, in 2020, UK has faced a financial loss of US$ 222.4 Million due to remote banking fraud cases. In July 2021, Epiphany Systems announced about the launch of offensive context-aware platform, equipped with cyber risk decision capability to mitigate the risk of huge financial loss owing to digital bank frauds. Such factors are set to boost the market growth of context rich market across BFSI industry in the coming time.

Context Rich System Market Segment Analysis - By Geography

By geography, Context Rich System Market has been segmented under North America, Europe, APAC, South America and RoW. North America dominated the global Context Rich System Market with a share of 35% in 2021 and is also set to witness significant growth during 2022-2027. Factors like proliferation of new mobile sensing applications, high investment towards ubiquitous computing platforms, along with rise in R&D activities from some of the key market players, have attributed to the market growth in this region. Rising penetration of social media applications, growing demand for smartphones, tablets, wearables and so on, along with adoption of bring your own device (BYOD) or internet-connected devices across enterprises, have been also impacting the market growth overtime. Additionally, rising adoption of context-aware digital signage, increased penetration of artificial intelligence and machine learning algorithms within varied industries can also help in fueling the market growth in the long run. According to Enterprise Engineering solution report, in 2021 North America has witnessed the highest usage of machine learning algorithms securing a market penetration rate of more than 80%. In September 2021, Google Inc. announced about the launch of several new features to enhance the search experience of users by leveraging its new Multitask Unified Model (MUM) machine learning technology. These new features will help in providing more detailed and context-rich answers for complicated as well as multimodal searches. Such factors are analyzed to propel the market growth of context rich system during 2022-2027.

Context Rich System Market Drivers

Rising integration of advanced technologies like artificial intelligence within context rich systems, is positively impacting its market growth

Rising integration of advanced technologies like artificial intelligence (AI) within context rich systems, can be considered as one of the major driving factors boosting its market growth. Factors like adoption of AI for simplifying industrial workloads, improving personalization and advanced analytics to help capture online shopping interests of consumers, along with growing collaboration with application program interface (API) providers for enabling context aware computing and so on acts as major factor driving the global context rich system market. Context rich systems integrated with AI platforms facilitates analysis and extraction of emotions and other data from the situation or context and thus, have been gaining wide popularity. Real-time analysis of heterogeneous data from the context results in precise decision-making, which in turn, have significantly helped in driving the market growth overtime. Furthermore, growing investment towards heterogeneous computing software ecosystem and AR/VR immersive platform as a part of developing context-aware technique for real-time scenarios are also the factors driving the market. In June 2021, TrueEra, an artificial intelligence startup announced about the launch of tools to enhance the capabilities of monitoring platform for enterprises. This development was done to conduct a root cause analysis of the issues leveraging machine learning algorithms with an aim to provide a real-time instantaneous contextualization. Such factors will fuel the growth of global context rich system market during the forecast period.

Growing advancement of applications based on context rich systems as a part of enhancing security in BFSI sector drives the market forward

Growing advancement applications based on context rich systems as a part of enhancing security in BFSI sector drives the market forward. Increasing penetration of biometric technologies such as passive authentication of users through facial detection and recognition have proved helpful in addressing enhanced security concerns for digital banking. Rising inclination towards combination of behavioral biometric with context aware computing is also a factor expected to fuel the growth of the global context-rich system market. In June 2020, deVere, a global financial advisory firm announced about the launch of a user identity verification app. This app is based on a biometric selfie and document capturing systems, consisting of three step authentication process. Such factors are analyzed to propel the global Context Rich System market growth in the long run.

Context Rich System Market Challenges

Concerns related to user data privacy and security of context-rich solutions hinders its market growth

Concerns related to user data privacy and security of context-rich solutions can be considered as a major factor restraining its market growth. In comparison to traditional systems, context rich systems are more advanced due to its capabilities of offering heterogeneity, high complexity and ubiquity. Since context aware systems include contextual information including fingerprint, voice and facial data and so on, can be subjected to potential security data breaches or data hacking incidents. Transition of database storage towards cloud infrastructure encourage cyber-criminals to take part into illegal activities such as identity theft, false data injection or unauthorized access, which in turn contributes towards significant financial losses of businesses. Such factors have been eventually creating an adverse impact on the market growth of context rich systems.

Context Rich System Industry Outlook

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in this market. Context Rich System top 10 companies include:

• Amazon.Com, Inc.
• Google LLC
• Microsoft Corporation
• Apple Inc.
• DS-IQ, Inc
• Baidu, Inc.
• Securonix, Inc.
• InMobi Pte Ltd
• Igate Corporation
• Flytxt B.V.

Recent Developments

• In November 2021, Microsoft announced about the collaboration with Arista as a part of joining the Microsoft Intelligent Security Association (MISA), in order to defend against cyber-threats. This collaboration was done to analyse entity-centric context efficiently as a part of mitigating increasing threat detection.
• In October 2021, InMobi, a leading context-aware, interactive video advertising platform announced about the acquisition of Appsumer, a London-based insights platform for mobile app advertisers for an undisclosed amount. This acquisition was done with an aim to enhance predictive capabilities leveraging artificial intelligence as a part of strengthening marketing efforts of the advertisers.
• In December 2020, Securonix announced about the launch of Secronix 6.3.1 in their cloud security information and event management (SIEM) platform, adding more features like machine learning based detection and context-aware capabilities. This development was done to enhance security measures as a part of mitigating sophisticated cyber-attacks.

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