DUBLIN--(BUSINESS WIRE)--The "Context Aware Computing Market - Growth, Trends and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The context-aware computing market was valued at USD 32.76 billion in 2018, and it is expected to reach a value of USD 158 billion by 2024, at a CAGR of 30% over 2019-2024.
With the evolution of ubiquitous computing, which is a concept in computer science where computing is made available at any time and everywhere (due to the third wave of computing becoming popular over desktop computing) context-aware computing has also witnessed a rise in its demand.
Artificial intelligence (AI) is rapidly becoming one of the most critical aspects in both business and science, and an increasing number of leading technology companies are showing interest in AI investment. Google's USD 400 million acquisition of DeepMind is a prime example of rising interest in acquiring AI technology.
Contextual awareness is the ability of computing systems to acquire, fetch, and reason the situational context, and adapt to their applications, accordingly. A context-aware system starts to collect raw, low-level contextual data, interpret the raw contextual data into high-level interpreted context, reason the interpreted context to derive implications, and adapt the application behavior, based on the implications.
The u-Japan Strategy in 2005, which was promoted under the leadership of Japan's Ministry of Internal Affairs and Communications (MIC), describes efforts to realize this environment, where the target was to make 80% of the country's population comfortable with ICT by 2010s and develop the ICT industry. This strategy is now being applied by various countries to gain the prominence over context-aware computing.
Key Market Trends
Consumer Electronics Segment Expected to Witness Rapid Growth
Smartphones and tablets have moved far beyond the capability of sending text messages or making calls, and are now personal navigators, storage devices, arcades, and social hubs.
Moreover, the evolution of smartphones and increasing computational power have enabled developers to create innovative context-aware applications, to recognize user-related social and cognitive actions, in any situation and at any location.
A prominent example of context-aware technologies in smartphones is in the way they react to ambient light, by adjusting screen brightness for optimal readability. As this feature is available in every smartphone in the market, the growth in the sales of smartphones is poised to drive the demand for context-aware technology in consumer electronics.
The augmented reality (AR) market offers significant opportunities, as it is expected to witness an enhanced proliferation of AI, which takes the inputs from a wearable device and combines them with personal data, to determine the current context in real-time and push relevant data to a user, in line with customer requirements.
North America Expected to Dominate the Market
The North American market has the presence of a majority of the market leaders, making it a forerunner in the adoption of this technology.
The region is home to top users, as well as integrators of context-aware computing technology. These include technology leaders, such as Google, e-commerce giant Amazon, financial institutions such as Visa, and telecom giants such as Verizon and AT&T, who have constantly incorporated this technology to enhance their customer service and product offerings.
Apple, Amazon, and Google smart gadgets, such as watches and speakers, have established themselves in the North American market place. Increased integration of smart wearables to IoT devices, driven by the adoption of smart homes in the region, is expected to augment the market.
The context-aware computing market is highly fragmented. Existing players, such as Amazon.com Inc., Apple Inc., Google Inc., Facebook Inc., Microsoft Corporation, etc., are striving to sustain their position in the market, by innovating their offerings.
For instance, Google showcased its AI voice calling the product, Duplex, which enables the application to make a call and seek appointments. With technological developments, these companies are engaging in investments, for enhancing the current context-aware computing solutions.
Some of the key players in the industry are Google, IBM, and Microsoft.
Some key developments in context-aware computing market are as follows:
- Microsoft launched a new intelligent security innovation, to help businesses manage threats ranging from cloud to edge. The application analyzes the past and current data, to prevent attacks and unforeseen threats. This measure is likely to boost the company's revenue and foster market growth.
- Cisco acquired MindMeld Inc., a San Francisco-based company, which developed conversational platforms, based on natural language understanding (NLU). This acquisition is expected to enhance the company's capability to utilize user's data and implement advanced user interaction.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Dynamics
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Integration of Artificial Intelligence into Mobile Apps
4.3.2 Rise in Integrated IoT Offerings
4.4 Market Restraints
4.4.1 Computational Complexities
4.5 Value Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
5 Market Segmentation
5.1 By Vendor
5.1.1 Mobile Network Operator
5.1.2 Device Manufacturer
5.1.3 Online, Web, and Social Networking Vendors
5.2 By End-user Industry
5.2.2 Consumer Electronics
5.2.3 Media and Entertainment
5.2.7 Logistics and Transportation
5.2.8 Other End-user Industries
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East & Africa
6 Competitive Landscape
6.1 Company Profiles
6.1.1 IBM Corporation
6.1.2 Microsoft Corporation
6.1.3 Cisco Systems Inc
6.1.4 Google LLC
6.1.5 Oracle Corporation
6.1.6 Amazon.com Inc.
6.1.7 Verizon Communications Inc.
6.1.8 Samsung Electronics Co. Ltd.
6.1.9 Apple Inc.
6.1.10 Intel Corp.
6.1.11 Onapsis Inc.
6.1.12 Flybits Inc.
6.1.13 Autodesk Inc.
7 Market Investment Analysis
8 Market Opportunities and Future Trends
For more information about this report visit https://www.researchandmarkets.com/research/5b9vnx/insight_into_the?w=4