Context Rich System Market worth 2.48 Bn USD by 2020, According to a New Study on ASDReports
The report, now available on ASDReports, "Context Rich System Market by Component (Sensor, Mobile Processor, Software), Device Type (Smartphone, Tablet, Desktop/Laptop, Biometrics), Vertical (Healthcare, E-Commerce, BFSI, Tourism and Hospitality), and Geography - Global Forecast to 2020", is expected to be worth USD 2.48 Billion by 2020 at a CAGR of 17.39% during the forecast period.
Software components expected to lead the context-rich system market
The market for software components is expected to grow at the highest CAGR between 2015 and 2020. Software applications play an important role in the context-rich system market; these include context-rich computing, ubiquitous computing, mobile computing, and cloud-based services. Context-rich systems are based on computing technologies and use software APIs to develop apps for smartphones. The advancement in software technologies and networking services will lead the context-rich system market. Thus software components hold the largest market for context-rich systems, in terms of value.
Context Rich System Market - Global Forecast to 2020
Market in the e-commerce and marketing vertical expected to grow at the highest CAGR between 2015 and 2020
The market for e-commerce and marketing is expected to grow at the highest CAGR between 2015 and 2020. The high demand for shopping apps and promotional offers through smartphones for shopping products is growing rapidly. In the e-commerce sector, by using context-rich applications, customers get the required product with value-added information such as best prices, quality reviews, availability, and offers. This enhances the overall experience of customer experience that helps drive the market in the e-commerce and marketing sector.
North America expected to hold the largest market share and grow at a high CAGR during the forecast period
The context-rich system market in North America accounted for the largest share in 2014 and is expected to grow at the highest CAGR among its peers between 2015 and 2020. Reasons for this growth are adoption of new information technologies (cloud services, web development, and other computing technologies)and rising demand for upgraded technologies. Thus, the increasing development of software applications and the presence of big players are expected to drive the context-rich system market in this region.
Key players in the ecosystem of the context-rich system market profiled in this report are Amazon.com, Inc. (U.S.), Apple, Inc. (U.S.), Google, Inc. (U.S.), Microsoft Corporation (U.S.), iGATE Corporation (U.S.), Baidu, Inc. (China), DS-IQ Inc. (U.S.), Flytxt (Netherlands), InMobi (Singapore), and Securonix (U.S.).
This research report categorizes the global context-rich system market based on components, devices, verticals, and geography. This report describes drivers, restraints, opportunities, and challenges with respect to the context-rich computing market. The Porter’s five forces analysis has been included in the report with a description of each of its forces and their respective impact on the context-rich system market.
Source : ASDReports - Market Research - view original press release