Contact Tracing Application Market Set for Rapid Growth during 2024 – 2030

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.

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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.

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 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 – 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.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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