PUBLISHER: IMARC | PRODUCT CODE: 1560928
PUBLISHER: IMARC | PRODUCT CODE: 1560928
The global context aware computing market size reached US$ 55.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 196.4 Billion by 2032, exhibiting a growth rate (CAGR) of 14.6% during 2024-2032.
Context aware computing (CAC) refers to the system used for gathering, monitoring and acquiring environmental and situational information regarding individuals and events. It is deployed through wireless cellular networks, local area networks (LAN), personal area network (PAN) and body area network (BAN). CAC is integrated with tablets, personal computers, adaptive phones and smart wearable devices for operating assistant tools and active maps. It collects and interprets low-level raw data and converts it to comprehensive insights for generating appropriate responses. As a result, it finds extensive applications across various industries, including banking, financial services and insurance (BFSI), electronics, media and entertainment, education, logistics, automotive and healthcare.
Significant growth in the electronics industry, along with the increasing adoption of consumer electronics, is one of the key factors creating a positive outlook for the market. CAC is integrated with devices, such as smartphones, tablets and personal computers, for personal navigation, data storage, adjusting screen brightness and social computing capabilities. Moreover, the utilization of artificial intelligence (AI) and data science solutions in smartphone applications is providing a thrust to the market growth. These technologies provide enhanced contextual awareness and adapt the application behavior according to the implications. In line with this, the increasing demand for CAC solutions in self-driving, connected and autonomous cars is also contributing to the growth of the market. Additionally, the adoption of the work-from-home (WFH) model by organizations due to the onset of the coronavirus (covid-19) pandemic is acting as another growth-inducing factor. CAC solutions are widely used by enterprises for location-awareness technologies, such as global positioning system (GPS), navigation and device tracking applications. Other factors, including the widespread utilization of advanced sensors in connected devices, along with significant improvements in the 5G infrastructure, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global context aware computing market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, vendor type, context type, network type, and industry vertical.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon.com Inc., Autodesk Inc., Cisco Systems Inc., Facebook Inc., Flybits Inc., Google LLC (Alphabet Inc.), Intel Corporation, Microsoft Corporation, Onapsis Inc., Openstream Inc. and Securonix Inc.