Pune, India, March 11, 2021 (GLOBE NEWSWIRE) -- The global context aware computing market size is projected to reach USD 153.37 billion by 2028, exhibiting a CAGR of 20.8% during the forecast period. According to a recent report by Fortune Business Insights™, titled “Context-Aware Computing Market Size, Share & COVID-19 Impact Analysis, By Component (Solutions and Services), By Vendor (Mobile Network Operator, Device Manufacturer, and Online, Web, and Social Networking Vendors), By End-User (BFSI, Consumer Electronics, Media and Entertainment, Automotive, Healthcare, Telecommunication, Logistics and Transportation, and Others), and Regional Forecast, 2021-2028”, the value of the market was USD 35.12 billion in 2020.
Rising Uptake of Remote Working Facilities amid COVID-19 Aid Market Growth
The sudden outbreak of the COVID-19 pandemic forced companies around the globe to quickly provide work from home (WFH) facilities to their employees, in compliance with lockdown and social distancing measures. Context-aware computing (CAC) has played an instrumental role in ensuring safe, secure, and efficient access to company data and resources for employees. For example, CAC solutions restrict employee access to company networks not only based on identity, but also on the basis of the location from which the employee is accessing information, the device being used, etc. With remote working models becoming popular among enterprises, several CAC providers are looking to capture this unprecedented opportunity. For example, in January 2021, CipherCloud launched its Zero-Trust Remote Access solution to support the expanding remote working operations, whilst safeguarding company information from unauthorized users. Such innovations have, thus, helped the global market achieve a CAGR of 15.4% in 2020.
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Market Segments
Based on components, the market has been classified into solutions and services. By vendor, the market segments include mobile network operators, device manufacturers, and online, web & social networking vendors. On the basis of end-user, the market has been divided into BFSI, consumer electronics, media & entertainment, automotive, healthcare, telecommunication, logistics & transportation, and others. The BFSI segment held a market share of 12.2% in 2020. In terms of region, the market has been grouped into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
What Does the Report Offer?
The report provides an in-depth and unmatched analysis of the market drivers, trends, and constraints. The report also offers an exhaustive examination of the regional opportunities and investment pockets for the market, along with comprehensive profiling and assessment of key market players and their strategies. Besides this, a detailed evaluation of all possible market segments is also contained in the report.
Driving Factor
Steady Rollout of 5G in Major Economies to Benefit the Market
The advancing deployment of 5G infrastructures in some of the world’s largest economies is set to propel the context-aware computing market growth over and beyond the forecast period. For example, in April 2019, SK Telecom, the top telecom operator in South Korea, became the first mobile carrier in the world to launch 5G services on 5G-enabled smartphones. The company strategically rolled out its 5G services in line with the launch of the Samsung Galaxy S10 5G smartphone. Similarly, in the UK, Vodafone UK, Three UK, and O2 UK commercially deployed 5G services throughout 2019 in the country. Context-aware computing can make enormous gains with 5G capabilities as this computing system requires fast and efficient network connectivity that 5G can provide. Moreover, as more devices get 5G-enabled, the adoption of CAC solutions is likely to spike in the next few years.
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Regional Insights
North America Slated to Grow Exponentially; the Asia Pacific to Make Phenomenal Progress
North America is expected to dominate the context-aware computing market share during the forecast period owing to the extensive adoption of smartphones in the region. Furthermore, the trend of ‘bring your own device (BYOD)’ is enjoying soaring popularity among businesses, which will contribute to the regional market growth. The region’s market size stood at USD 16.10 billion in 2020.
Asia Pacific is anticipated to grow the fastest on account of the rapidly expanding access to smart devices and speedy digitization of businesses in the region. The demand for context aware computing systems is also increasing in Asia Pacific due to the growing emphasis of regional players on augmenting customer experience. In Europe, the market will be primarily driven by improving network speeds and 5G deployments.
Competitive Landscape
Heavy Investments in Innovation by Key Players to Power the Market
Large tech companies, such as Google and IBM, are dictating the competitive dynamics of this market. These companies are making massive investments in innovative, next-generation connectivity technologies and fastening their hold on the market. However, a few newer players are also developing path-breaking context aware computing solutions and brightening the outlook of the market.
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Industry Development:
- July 2020: Portshift released its novel K8SHIELD Framework and also introduced its CAC-based security policy enablement. The solutions are designed to support DevOps and security experts in fighting cyber-crime activities with environmental clarity.
List of Key Players Covered in Context Aware Computing Market Report:
- Nokia Corporation (Espoo, Finland)
- Infosys Limited (Karnataka, India)
- Teliasonera (Stockholm, Sweden)
- Apple Inc. (California, United States)
- Amazon.com, Inc. (Washington, United States)
- Cisco Systems, Inc. (California, United States)
- IBM Corporation (New York, United States)
- Google LLC (California, United States)
- Verizon Communications Inc. (New York, United States)
- Onapsis Inc. (Massachusetts, United States)
- Samsung Electronics Co. Ltd (Seoul, South Korea)
- Oracle Corporation (California, United States)
- Microsoft Corporation (Washington, United States)
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Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities, and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Key details are subjected to data available in the public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Context Aware Computing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Solution
- Services
- By Vendor (Value)
- Mobile Network Operator
- Device Manufacturer
- Online, Web, and Social Networking Vendors
- By End-user (Value)
- BFSI
- Consumer Electronics
- Media and Entertainment
- Automotive
- Healthcare
- Telecommunications
- Logistics and Transportation
- Other
- By Region (Value)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Component (Value)
- North America Context Aware Computing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Component (Value)
- Solution
- Services
- By Vendor (Value)
- Mobile Network Operator
- Device Manufacturer
- Online, Web, and Social Networking Vendors
- By End-user (Value)
- BFSI
- Consumer Electronics
- Media and Entertainment
- Automotive
- Healthcare
- Telecommunications
- Logistics and Transportation
- Other
- By Country (Value)
- United States
- Canada
- Mexico
- By Component (Value)
- Global Context Aware Computing Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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