MarketsandMarkets recently conducted a study on "Context Aware Computing Market - Global Advancements, Emerging Applications, Worldwide Forecasts and Analysis (2013 - 2018)" whichanalyzed and studied the major market drivers, restraints, and opportunities in North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.
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The study reports that the Context Aware Computing (CAC) market is expected to grow from $26.50 billion in 2013 to $119.90 billion by 2018, at an estimated CAGR of 35.2% from 2013 to 2018. Context is the most used type for now and is expected to remain as one in the coming few years. The context market is expected to grow from $12.74 billion in 2013 to $55.71 billion by 2018, at an estimated CAGR of 34.3% from 2013 to 2018.
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The market for context-aware computing technologies is ripe across industry verticals such as Telecommunications and Information Technology (IT), and Banking, Financial Services and Insurance (BFSI). The market in telecom and IT is expected to grow from $3.41 billion in 2013 to $15.23 billion by 2018, at an estimated CAGR of 34.9% from 2013 to 2018. Similarly in the BFSI vertical, the market for context-aware computing technologies is expected to grow from $3.25 billion in 2013 to $13.8 billion by 2018, at an estimated CAGR of 34.9% from 2013 to 2018. The report also covers market opportunities with forecasts for other verticals such as Academia, Education, Gaming, Retail, Energy & Power, Gaming, Healthcare, Logistics & Transportation, Manufacturing, Office & Commercial Buildings, Oil & Gas, Public Sector & Government, Residential & Home Environments, and Travel & Hospitality amongst others.
In the coming years, enterprises are expected to increasingly invest in context-aware applications and technologies, driven by the popularity of trends across enterprise mobility. The report also draws the competitive landscape of this market, providing a comparative analysis of the technological and marketing strategies that the key players are adopting in order to gain an edge over their competitors. The key strategies followed by most companies in this market are new technologies, customized solutions and acquiring relatively small domain expert players. Some of the major players in this market are Apple, Amazon, Facebook, Google, Microsoft, and Nokia.
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