Context Rich Systems Market - Rapidly Growing Dynamic Markets

Context rich systems or also known as context aware computing systems is a direct response to the growing demand of reactive & adaptive technology and personalization of the user experience. Context Rich systems is the accumulation of raw data with the help of analytics. The raw data include awareness of the surrounding environment and subsequently responds to the user actions. Some of the software’s designed for consumer centric/ commercial use at mobile platform level include Siri, Cortana and Google Now. The major beneficiaries of context rich systems can be realized at both commercial and enterprise level depending upon the requirement of the user.

The different applications wherein context rich systems can play a pivotal role in steering the growth of respective markets include e-commerce & retail industry, healthcare sector, financial & banking (BFSI) services, travel & hospitality industry and transportation industry. The ecosystem of the context rich systems market is inclusive of both hardware and software components.

The different hardware assisting the collection of raw data include sensors and actuators embedded into the various portable devices. Social networking sites wherein most of the customer information and preferences are generally available in public include, Facebook, Twitter, Pinterest, Instagram and Google+.
In total, there are currently more than 1.40 billion registered users on Facebook, 1 billion on Google+, 300+ million on Twitter and the number of registered users continue to grow. Companies are leveraging on the technology and tools to outreach to vast numbers of active users among these social networking sites. Most of the companies are expected to leverage on tools and techniques to gather information and provide context rich and right information to the customers at the right time.

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North America was the leading region for context rich systems solutions in the recent past and is expected to continue leading the demand for CRS solutions till 2022. This factor is attributed to the large IT industry base along with a highly consumer-oriented professional culture and the prominent presence of key players in the region. The large number of companies in North America that is currently implementing or deploying context rich systems solutions across multiple product and service offerings is instrumental to the staggering demand for CRS in the region. By the end of 2022, the revenue earned by CRS players from North America is expected to reach US$1.64 bn.

The scope of context rich systems solutions implementation in Europe is also very high at the moment, while organizations are focusing greatly on online advertising. Adding social media promotion and video promotions to the flurry of online advertising, the scope of context rich systems solutions in Europe is expected to remain very high for the coming years.

Meanwhile, the demand for context rich systems in Asia Pacific is expected to skyrocket owing to a speedily developing IT infrastructure and the increasing Internet user population. Between 2015 and 2022, Asia Pacific demand for context rich systems solutions is expected to expand at a CAGR of 19.1%.

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