The Global Context Rich Systems Market is expected to foresee significant growth. North America to lead the growth!

Context rich systems help users in real-time with their daily activities by sensing information such as location, time, and device type. It identifies those who are involved, their goals, and their immediate environment. Context-rich systems then utilize these parameters to adjust the content, display, and input methods, based on the user’s situation. This enables effective feedback for the user, in turn allowing them to smoothly link various services for seamless execution of operations and enhanced personalized experience.

The growing adoption of context-rich systems is mainly attributed to the increasing smartphone penetration around the globe. For instance, according to TechCrunch, in the year 2020, more than 6 billion people were using smartphones. Furthermore, the development of networking services and software technologies are additionally expected to drive the context-rich systems market.

The Context Rich Systems Market is expected to grow at a steady rate of around 17% during the forecast period (2022-2028)

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Based on component, the market is bifurcated into hardware and software. The software segment is expected to grow significantly during the forecast period. The reason for this growth is mainly attributed to the development of various context-rich systems. Furthermore, the growing volume of enterprise data and increased automation of business processes across industries such as retail, manufacturing, and healthcare are driving the market growth.

Based on vertical, the market is segmented into E-commerce & marketing, tourism & hospitality, gaming, transportation, BFSI, and others. The BFSI segment is expected to grow with a significant CAGR during the forecast period, owing the growing investment towards and R&D activities in the BFSI sector. Furthermore, the growing adoption of mobile banking is expected to significantly influence the BFSI context rich systems market.

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For a better understanding of the market adoption of the context rich systems industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. In 2020, the North American context rich systems market is expected to grow significantly during the estimation period. This is mainly due to the growing smartphone penetration in the region. Additionally, the adoption of IoT, machine learning algorithms, and artificial intelligence by the enterprise will propel the market. For instance, according to the Enterprise Engineering Solution, North America registered the highest growth for machine learning algorithms which is around 80% for the year 2021. Moreover, the launch of technologically advanced products in the region supports the market for context-rich systems market. For instance, Dynatrace launches a cloud-based new product named Grail for security, observability, and business analytics which helps the data leakages with MPP (Massively Parallel Platform) for context-rich log analytics.

Meta, Apple Inc, Capgemini, Google, Securonix, Amazon.Com Inc, Microsoft, Baidu Inc, Ciklum, and InMobi Inc are some of the key players in the market

Global Context Rich Systems Market Segmentation

Market Insight, by Component

· Hardware

· Software

Market Insight, by Devices

· Biometrics

· Desktop/laptops

· Tablets

· Smartphones

· Satellite navigation systems

Market Insight, by Vertical

· E-commerce & marketing

· Tourism & hospitality

· Gaming

· Transportation

· BFSI

· Others

Market Insight, by Region

· North America

o The U.S.

o Canada

o Rest of North America

· Europe

o Germany

o The U.K.

o France

o Italy

o Spain

o Rest of Europe

· Asia-Pacific

o China

o Japan

o India

o Rest of Asia-Pacific

· Rest of the World

Top Company Profiles

· Meta

· Apple Inc

· Capgemini

· Google

· Securonix

· Amazon.Com Inc

· Microsoft

· Baidu Inc

· Ciklum

· InMobi Inc