Global Contact Tracing Application Market – Overview
The global public health agencies such as the World Health Organization (WHO) are increasingly adopting multipronged approaches to handle and control the COVID-19 crisis. Thus, the organizations are inclined to adopt digital technologies, which are giving utmost importance in various sectors including healthcare and information distribution. Thus, the market for contact tracing application is gaining traction.
Global Contact Tracing Application Market – Notable Developments
The market for contact tracing applications has become competitive as large players are increasingly entering the market. Currently, the key players such as Google Inc. and Apple Inc. dominate the market. The players are majorly focused on pandemic control and monitoring by tracing contacts; in order to achieve this, they are increasingly developing their applications and offering several features based on different technologies. Hence, the key players are entering into strategic collaborations and partnerships.
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Some of the key players identified in the contact tracing application market are Google Inc., Apple Inc., SAP SE, ServiceNow, Siemens AG, Oracle Corporation, and IBM Corporation.
- In 2020, Siemens AG has also played its role by developing a manual contact-testing feature for workers in China in collaboration with Salesforce.com to identify and limit the spread of COVID-19. Such initiatives fuelled the adoption of contact tracing application and benefited the market growth.
- Additionally, SAP SE developed the Corona-Warn-App in collaboration with Telekom, which is the open-source application developed based on the Google-Apple platform.
- In addition, recently, Saudi Arabia introduced the contact tracing application to restrict outbreak of the deadly virus in the region.
Global Contact Tracing Application Market – Drivers and Restraints
Earlier, the contact tracing applications were based on gathering data regarding contact history and user health. However, the increasing adoption of newer technologies is increasing the trust in the contact tracing application and in turn driving the growth of the global contact tracing application market.
On the other side, the data and privacy concerns among people are major push back for the growth of the market. Thus, some of the governments are introducing decentralized applications, which restrict accessing private data in order to gain trust in contact tracing applications. These efforts and robust use of smartphones are offering newer and lucrative opportunities for growth of the market in the coming years.
Additionally, the increasing government support to deploy the applications and several trust-building efforts are boosting the adoption of the contact tracing applications, which in turn fuelling the market growth. This factor is estimated to remain the same for the next few years until the war against COVID-19 is finally won globally.
The contact tracing applications offer the benefits of issuing warnings against scalable contagion by tracking the contact and reducing the burden on healthcare professionals. Thus, the adoption of contact tracing applications is witnessed significantly in short term. Furthermore, the increasing innovations regarding short-term data storage and voluntary participation set higher standards of confidentiality are further encouraging the adoption of contact tracing application and support the growth.
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Global Contact Tracing Application Market – Geographical Outlook
Europe is one of the key dominant in the contact tracing application market owing to the increasing need for contact tracing applications and the most recent outbreak of COVID-19. Europe region is the major consumer for the contact tracing applications with 20 countries introducing smartphone applications aiming to track and limit the outbreak of COVID-19. The government funding and collaborations with major companies to improve their service and issue a timely warning to potential infections and carrier is encouraging other countries to adopt these applications as well. This is a key factor driving the growth of the global contact tracing application market.
The applications are playing a vital role in limiting the coronavirus outbreak in North America as well. However, the number of states adopting these applications is limited, which is restraining the growth of the market in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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