Summary

The global Context Rich Systems Market is expected to grow at a significant rate of around 17% during the forecast period.
Context Rich Systems personalize the user data by diverse signals about the users as well as their context. Also, it could use the signal to adjust the input method & display method, and content depending on the user’s current situation. The Context Rich Systems increases the user’s personalization by drawing information related to the situation and surrounding environment including people, things, and places.

The growing adoption of Context Rich Systems is mainly attributed to the increasing smartphone penetration around the globe. For instance, according to TechCrunch, in the year 2020, more than 6 billion people were using smartphones. Furthermore, the development of networking services and software technologies are additionally expected to drive the Context Rich Systems market.

Meta, Apple Inc, Capgemini, Google, Securonix, Amazon.Com Inc, Microsoft, Baidu Inc, Ciklum, and InMobi Inc are some of the key players in the market.

Insights Presented in the Report
“Amongst component, the software category to witness higher CAGR during the forecast period”
Based on component the market is bifurcated into hardware and software. The software segment is expected to grow significantly during the forecast period. The reason for this growth is mainly attributed to the development of various Context Rich Systems. Furthermore, the growing volume of enterprise data and increased automation of business processes across industries such as retail, manufacturing, and healthcare are driving market growth.

“Amongst vertical, the BFSI segment is expected to grow with a significant CAGR during the forecast period”
Based on verticals, the market is segmented into E-commerce & marketing, tourism & hospitality, gaming, transportation, BFSI, and others. The BFSI segment is expected to grow with a significant CAGR during the forecast period, owing the growing investment towards and R&D activities in the BFSI sector. Furthermore, the growing adoption of mobile banking is expected to significantly influence the BFSI Context Rich Systems market.

“North America to hold a significant share in the market”
In 2020, the North American context rich systems market is expected to grow significantly during the forecast period (2022-2028). This is mainly due to the growing smartphone penetration in the region. Additionally, the adoption of IoT, machine learning algorithms, and artificial intelligence by the enterprise will propel the market. For instance, according to the Enterprise Engineering Solution, North America registered the highest growth for machine learning algorithms which is around 80% for the year 2021. Moreover, the launch of technologically advanced products in the region supports the market for Context Rich Systems market. For instance, Dynatrace launches a cloud-based new product named Grail for security, observability, and business analytics which helps the data leakages with MPP (Massively Parallel Platform) for context-rich log analytics.

Reasons to buy this report:
• The study includes market sizing and forecasting Analytics validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers in-depth Analytics of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level Analytics of the industry.

Customization Options:
The global context rich systems market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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