DUBAI, U.A.E, Sept. 22, 2020 /PRNewswire/ — Future Market Insights (FMI) in its recent report projects that the global contact tracing application market will be reflecting a notable CAGR of 15% over the forecasted period of 2020-2030. The contact tracing applications gained popularity worldwide for its role in tracing infection as well as disease control programs, particularly after COVID pandemic. Moreover, the adoption scope of this application soared after recommendations from key regulatory bodies such as WHO to control the outbreaks.
The report further states that digital technologies’ role in controlling the infectious disease as well as several sectors such as healthcare and public information distribution is projected to foresee sturdy growth over the years to come.
“Functional benefits of contact tracing applications are effective tracking and monitoring of larger numbers of people, superior data quality, real-time analysis, and the substantial improvements to coordination and management of manual contact tracing teams”,says the FMI analyst.
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- In terms of connectivity, the Bluetooth based connectivity has gained traction in contrast to GPS based connectivity.
- Based on the operating system, although iOS phones hold about 20% of all smartphone sales, android phones are highly adopted to contact tracing applications.
Contact Tracing Application Market – Key Trends
- Rising smartphone users have prompted the success of contract tracing applications which further plays an important part of market growth.
- Increasing confidentiality concerns have prompted tech giants to voluntarily participate in resolving data confidentiality and short term data storage.
- The market is highly dependent on the community engagement, through public health agencies and application developers, to boost awareness and market growth.
Contact Tracing Application Market – Regional Analysis
- Europe will be the frontrunner with about 20 nations launching or developing a smartphone application to track or limit infection chains during the assessment period.
- North America will remain below average particularly in the US with merely 8 states releasing or planning to release COVID-19 contact tracing applications.
- East Asia will reflect lucrative growth opportunities due to mandatory use in China.
Contact Tracing Application Market – Competitive Landscape
Market players are focusing on strategic collaborations inside the sector for application development efforts for multiplatform compatibility attributes. Additionally, developers are pushing for contracts to push their offerings via government channels to increase user base and regional footprint. For instance,
Industry giants such as Google Inc. and Apple Inc. have collaborated with the Exposure Notification, a framework to position their superficial applications without requiring to put resources in core development. Apple is further planning to drive the platform via an internal software update for novel iOS devices that would allow users to attain similar features without government apps.
Siemens AG entered into a collaboration with Salesforce.com to develop a manual contact testing attribute for Chinese workers.
Major producers identified in the global contact tracing application market are Google Inc., Apple Inc., Oracle Corporation, SAP SE, ServiceNow, Siemens AG, T-Systems, Salesforce.com Inc., IBM Corporation, and Microsoft Corporation.
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Contact Tracing Application – Taxonomy
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Valuable Insights into the Contact Tracing Application Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global contact tracing application market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the contact tracing application market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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SOURCE Future Market Insights