The global Context Aware Computing Market size is poised to expand at a whopping CAGR exceeding 30% from 2016 to 2024 (forecast period). Ongoing trends suggest that this market could report revenues surpassing USD 125 billion by 2024. A pattern of computing that takes into account surrounding & situational information about things, places, and people for the delivery of relevant & situation-centric functions & content is known as context aware computing. This specialized pattern of computing aims at predicting the needs based on a certain trend. In simple terms, information that is offered is determined by conditions prevailing in the immediate surroundings. For example, intelligent recommendation engines were adopted by Amazon to endorse products on the basis of shopping history and personal history among others.
Context aware computing enables quick decision making both at the organizational level and at the individual level. The sophisticated software captures, saves, and then analyzes the data by sending it across a network that delivers the required context via an end device. CAC retrieves data that is based on user preferences. It is not just a single technology but an amalgam of big data, cloud & mobile technologies. Developments in sensor technologies, network bandwidth, wireless communication technologies, and embedded systems can boost CAC applications in the years to come. Also, high investments in ‘Augmented Reality Smart Glasses’ could drive the global industry.
Growing popularity of context aware computing in businesses is projected to fuel demand in the years to come. This system ensures quality interaction between businesses and consumers. It also enables the capture of a large customer base. Enterprises nowadays are investing robustly in context-aware applications. Technological advancements could fuel market growth during the forecast period. Demand for mobile computing devices and smartphones may increase awareness & adoption of context aware computing in the forthcoming years. This in turn can positively impact the market. Additionally, the expanding market for smart wearables may directly boost global demand for context aware computing.
Despite favorable demand, there are a number of challenges facing the worldwide market. Concerns regarding energy management, cyber forage, context awareness, user intent, and adaptation strategy hamper demand. However, proper management of privacy & trust issues may restore the same and propel the global industry. Social networking platforms have increased the scope of contextual advertising for marketers. They aid businesses to carry out marketing campaigns and thus enhance earnings in the most effective manner. Popularity of enterprise mobility can fuel high investments in context aware technologies and related applications.
The global context aware computing market is segmented on the basis of products, applications, and geographies. Based on products, the segments are augmented reality & guided systems, cyber guides, active phones, fieldwork, and web-browsers. The remaining ones include shopping assistants, location aware information delivery, people & object pages, and office assistants.
The various areas of application are manufacturing, oil & gas, academia & education, travel & hospitality, retail, banking, and financial services. In addition to these, public sector, government, transportation & logistics, IT (information technology) & telecom, residential, and healthcare are the other applications in the worldwide market. IT & telecom are the biggest end users of context aware computing followed by financial & banking services and even insurance.
In healthcare, the introduction of context aware computing could bring about improvements in medical imagery. Surgeons can see medical imageries with anatomical references; such as the location of blood vessels. With the help of CRM (customer relationship management) systems that identify emotional context, call center managers could address the grievances of customers. Context enriched systems provide organizations with market differentiation as well as greater operational efficiency. Over the forecast period, this may exhibit a positive impact on overall market adoption.
Geographically, the global context aware computing market is categorized into Europe, Asia Pacific, North America, the Middle East & Africa, and Latin America. Asia Pacific and Latin America could contribute significantly to the overall market till 2024. Owing to rapid adoption of technology, the Middle East and Asia Pacific may register remarkable growth rates over the forecast period. North America and Europe can expand robustly from 2016 to 2024. More specifically, the U.S. can drive the North America market since it is by far the largest regional industry worldwide. The consumption of personal electronics is surging significantly across a host of regional markets. This owes to the demand for tablets because of innovation, the BYOD (bring your own device) concept, and dynamic consumer preferences.
Prominent companies in the global context aware computing market are Samsung, Telnic, Intel, Teliasonera, Vodafone, Flytxt, and Verizon Communications Inc. among many others. However, Google, Autodesk, Nokia, Amazon, Facebook, Appear Networks, Microsoft, and Apple are the giant shareholders in the industry. Besides having developed the Context Aware Tablet N95, Nokia has also created a number of context aware computing applications. Google created the Google Glass; a head mounted display in the shape of eyeglasses that presents information like that in a smartphone. It is a hands free device. Players, such as Nokia and Intel focus immensely on the development of context aware Application Programming Interfaces (APIs). Besides innovation, most companies give significance to customized solutions.
Most organizations these days are trying to enhance employee productivity by offering context-rich working environments. For example, location based context awareness plays a key role in areas, such as logistics, sales, and field repair. IBM introduced ‘Smarter Process’; a BPM (business process management) solution that reinvents business operations by equipping each and every process with expertise & intelligence. This has led to enhanced customer-centricity. It puts customers in the spotlight and helps the company forge towards higher growth.
Perceptive Software, a U.S. based enterprise content management company, has developed the ‘Pretrieve technology’. It intelligently anticipates & presents pertinent information to users. This information is based on their interactions, security privileges, and roles with respect to the companies’ processes & applications.
The widespread proliferation of the GPS could increase the adoption of context aware computing over the next couple of years. Furthermore, better management of security & privacy issues may lead to greater context enriched services.
