The Global Context Aware Computing Market is estimated to account for US$ 69.5 Bn in terms of value by the end of 2021. Context awareness systems are a key technology in the era of ubiquitous computing. They enable users to interact with technology in a natural manner. They improve situational awareness and allow companies to better understand their customers. Context awareness can also improve the quality of life. A context-aware system can trigger alarms or alerts. These systems can also deliver the right information at the right time. They can also provide real-time traffic information.
Global Context Aware Computing Market: Drivers
Increasing deployment of advanced sensors is expected to fuel adoption of context aware computing, which in turn is expected to boost growth of the global context aware computing market over the forecast period. The rapid integration and development new and advanced sensors in connected devices such as smart wearable, laptops, and smartphones among others is increasing around the world, which is leading to growing adoption of CAC solutions. Different advanced sensors including accelerometers, GPS, light sensors, microphones, and magnetometers are integrated in various connected devices. This enabled solution developers gaining contextual information with the use of mobile-based sensors. Thus, increasing deployment of advanced sensors in various mobile devices is driving growth of the market.
Global Context Aware Computing Market: Opportunities
Growing use of social networking platform and smartphones is expected to create growth opportunities in the global context aware computing market over the forecast period. The growing use of social networking platforms has created new ways for contextual advertising by marketers for pursuing targeted marketing campaigns to increase revenues. Even though the context aware computing is now being seen as a promising form by Location Based Services, there are more intriguing solutions based on context aware computing have emerged in the market that can be used in various industries. Thus, this is creating lucrative opportunities in the global context aware computing market.
Global Context Aware Computing Market: Restraints
Factors such as information access and delivery as well as differentiating context is expected to hinder growth of the global context aware computing market over the forecast period.
Global Context Aware Computing Market - Impact of Coronavirus (Covid-19) Pandemic:
The epidemic of Covid-19 impacted several industries around the world. The global context aware computing market witnessed a moderate impact of the pandemic. Under the lockdown regulations, many companies adopted work from home modules. However, during this period employees working from home were exposed to different security risks. Industries like consumer electronics however were significantly impacted due to the pandemic. The demand for smart devices was steady during the pandemic however, changes in consumer behavior and purchasing power affected the market growth. Thus, the global market for context aware computing witnessed a neutral impact of the Covid-19 pandemic.
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Key Takeaways:
The global context aware computing market was valued at US$ 69.5 Bn in 2021 and is forecast to reach a value of US$ 282.8 Bn by 2030 at a CAGR of 32.4% between 2022 and 2030.
Hardware segment held dominant position in the global context aware computing market in 2021, accounting for 53.1% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Context Aware Computing Market Trends:
Consumer electronics segment is gaining traction in the global context aware computing market over the forecast period. The technological advancement in consumer electronics has made tablets and smartphones highly advanced, as now they also act as storage devices, personal navigators, social hubs, and arcades. Smartphones are equipped with different sophisticated sensors such as GPS, accelerometer, magnetometer, microphone and camera. These context-aware applications enhance user experience of such sensor equipped devices. Thus, this trend is anticipated to continue in the market in the near future.
Europe is anticipated to witness strong growth in the global context aware computing market during the forecast period due to rise in adoption of mobile computing devices such as laptops, smart wearable, iPads etc. Moreover, companies across the region are increasingly investing in machine learning and AI research activities. For instance, in July 2018, the government of Germany stressed on AI in order to become one of the leading countries in AI around the world, and this is likely to attract different investments, which will further positively impact growth of the global context aware computing market.
Global Context Aware Computing Market: Competitive Landscape
Intel Corp., IBM Corporation, Apple Inc., Microsoft Corporation, Samsung Electronics Co. Ltd., Cisco Systems Inc., Verizon Communications Inc., Google LLC, Amazon Web Services Inc., and Oracle Corporation
Global Context Aware Computing Market: Recent Developments
In January 2020, Cisco introduced a security architecture for Internet of Things (IoT) environments based on the other IoT technologies acquired by the company in the previous year. The company’s Cisco Cyber Vision offers a set of software and services that detects irregularities and threats to IoT assets in real-time.
In May 2019, Microsoft rolled out a more intelligent Microsoft Search that is capable of understanding the context of a query and what is being asked. The company also revealed that the Microsoft Search box could be launched in all the services and apps of Microsoft.
