Industry Background:
Contact tracing applications, are applications on smart phones that help you trace down or track down a person. These came in to use extensively in 2020 because of the Covid 19 Pandemic. Several Countries launched these Mobile Tracing applications. Contact Tracing is a Procedure to identify people exposed to a certain disease. Mobile tracing can be done using GPS or Bluetooth and in some cases these applications include both. Others that have been in close proximity to the infected person may be identified, allowing for more precise and timely contact tracing than the conventional manual method. Today half of the population of the world carries a smartphone with a GPS and a Bluetooth. Government programmes that encourage social distancing and patient monitoring have also had a positive effect on the industry. The industry's growth prospects are improving thanks to advancements in GPS, Bluetooth, and ultrasonic technology. To meet the high demand for data privacy standards, app developers are pushing for the creation of decentralized data collection approaches through device-based databases.This growth is primarily driven by Increased Use of Smartphones across the World among All Age Groups and Increasing Regulations in Various Industries to Improve Safety, Workflow, and Security.
Globally, a noticeable market trend is evident Growing Trend of Real Time Locations System. Major Players, such as Google Inc (United States), Apple Inc. (United States), SAP SE (Germany), ServiceNow (United States), Oracle Corporation (United States) and IBM Corporation. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
June 2020 – SAP SE in Collaboration with Deutsche Telekom subsidiary T-Systems developed the Corona-Warn-App’ for Contact racing in Germany
Market Drivers
- Increased Use of Smartphones across the World among All Age Groups
- Increasing Regulations in Various Industries to Improve Safety, Workflow, and Security
Market Trend
- Growing Trend of Real Time Locations System
Restraints
- Concerns Regarding Data Security and Privacy
- Use of Bluetooth Technologies Has Proven Inaccurate In Detecting the Exact Distance
Opportunities
Growing Need of Contact Tracing Because of the COVID 19 Pandemic and Increased investment by Governments on Contact Tracing Applications
Challenges
System Incompatibility and Lack of Uniform Standards and Poor Adoption of Contact Tracing Applications among Populations in Developing Countries And Rural Areas
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Contact Tracing Application Study Sheds Light on
— The Contact Tracing Application Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Contact Tracing Application industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Contact Tracing Application industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.