According to a new market report published by Transparency Market Research titled “Context Rich Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2022”, the global context rich systems market, in terms of revenue, was valued at US$1.74 bn in 2014 and is forecast to grow at a CAGR of 15.9% during the period 2015 to 2022. Connected devices and high rate of mobile penetration are the key factors driving the growth of the context rich systems market globally. In addition, companies leveraging disruptive technology for enhanced customer reach and an increase in worldwide enterprise IT spending across verticals is further expected to drive the growth of this market over the forecast period.
The global context rich systems market, by devices category, was dominated by the smartphones segment with a market share of 36.2% in 2014. The advent of technology and declining prices of electronic devices are adding more users to the connected world, which is in turn driving the smartphones devices segment. The share of tablets and netbooks/laptops is forecast to grow at a moderate rate during the forecast period from 2015 to 2022. The desktops segment is expected to have moderate to limited growth during the forecast period.
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By end-use application sector, the e-commerce and retail sector, with over 33% share in 2014, was the largest market in the overall context rich systems market in terms of revenue. Many of the customers are moving towards the web for shopping and consequently, there is an increase in the usage of smartphones for mobile commerce. This has created an opportunity for organizations in this sector to enhance online experience by means of context, there having a direct impact on sales and customer loyalty as well as better engagement with intended target audiences.
North America led the global context rich systems market in 2014 with a share of about 36% in 2014. More than 50% of marketers are planning to increase their content marketing budget in the coming years as the use of social media has reached unprecedented levels thanks to technological developments in electronics devices, communication networks, and infrastructure. Most content marketing activities are based on different contexts gathered from various users across these social media platforms. North America is among the regions that boast the highest mobile penetration rate. On account of new opportunities, the MEA and Latin America context rich systems markets are expected to report a CAGR of 17.1% and 16.5%, respectively, from 2015 to 2022.
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The key companies in the context rich systems market are Amazon.com, Inc., Apple, Inc., Baidu, Inc., DS-IQ, Inc., Facebook, Flytxt, Google, Inc., InMobi and Microsoft Corporation, and IGATE Corporation, among others.
The Global Context Rich Systems market has been segmented as follows:
Context Rich Systems Market, by Devices
Context Rich Systems Market, by Application Sector
E-commerce & retail industry
Financial & Banking services
Tourism & Hospitality industry
Context Rich Systems Market, by Geography
Rest of the North America
EU5 (U.K., Italy, Spain, France and Germany)
Rest of Europe
Asia Pacific (APAC)
Oceania (Australia and New Zealand)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
Rest of the Latin America