Contact Tracing App Market 2022-2030 Future Prospects

A latest report from Absolute Markets Insights covers insights into the global Contact Tracing App market. This comprehensive report offers insights into the market, models and drivers of business growth. Also includes Contact Tracing App market share, sales volume and education charts. Research analysts have combined important and additional information, such as commitments from market leaders, into a well-crafted report. This report is an essential insight into strategies and information and is primarily aimed at business leaders. The main objective of this Contact Tracing App report is to provide industry knowledge and help our clients achieve natural growth in their respective fields. The Contact Tracing App report also shows a new uptrend that includes market conditions and market forecast 2022-2030.

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Some of the major players operating in the global Contact Tracing App market include: Allsoft Consulting, COCOA, Entro labs, Evros Technology Group, Intugine Technologies, Kreativzirkel UG, PwC, SwissCovid and Twenty Labs, LLC. amongst others.

Global contact tracing app market was valued at US$ 147.6 Mn in 2022 and is anticipated to grow at a CAGR of 35.2% over the forecast period to reach US$ 1,218.9 Mn in 2030. 

The competitive landscape of the market study contains a broader analysis of the regions including North America, Europe, Asia-Pacific, Middle East and Africa, Latin America, which are expected to capture the essence of the market in its broadest category. The list encompasses significant players who manage the sector based on the system’s overall production capabilities, environmental contributions, appropriate channels, and territorial proximity through a system of primary and secondary research methodologies followed by an in-house analytical model. Furthermore, the generated income and a generalized market share for the market is presented with the help of graphs, charts and tables.

Furthermore, the report also contains important collaborations, mergers and acquisitions, key market trends and business policies are evaluated. The study contains primary and secondary information pertaining to the Contact Tracing App Market in terms of its global status, market size, growth forecasts, trends, segments, and a detailed forecast.

Key insights from the report:

  • The report provides key statistics on the market status of Contact Tracing App Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
  • The report provides a basic overview of the industry, including its definition, applications and manufacturing technology.
  • The report features the company profile, product specifications, capacity, production value and market share 2022-2030 for the top vendors.
  • The total market is further divided by company, by country and by application/type for the analysis of the competitive landscape.
  • The report then estimates the 2022-2030 market development trends of the P2P Loans industry.
  • Analysis of upstream raw materials, downstream demand and current market dynamics is also performed.
  • The report makes some important proposals for a new project of Contact Tracing App Market before evaluating its feasibility.

Covid-19 cumulative impact:

This study presents insights into COVID-19 on consumer behavior and changes in demand, purchasing patterns, supply chain reorganization, dynamics of market forces, and substantial government involvement. The new research provides insights, analysis, estimates and predictions in light of the effect of COVID-19 on markets. The Contact Tracing App Market report provides a solid observation on the prominent players in terms of strategic analysis, micro and macro market trends and opportunities, pricing trends, and a generalized overview of the market. The Contact Tracing App Market is a detailed study packed with primary and secondary market factors, market share, leading segments and a proper geographic analysis.

Key questions answered in this report:

  • What will the market size and growth rate be in 2030?
  • What are the key drivers of the global market?
  • What are the key market trends impacting the growth of the global market?
  • What are the market growth challenges?
  • Who are the key vendors in the global market?
  • What are the global market opportunities and challenges for sellers?
  • What are the key findings of the global five-point analysis of the Contact Tracing App market?

Global contact tracing app market was valued at US$ 147.6 Mn in 2020 and is anticipated to grow at a CAGR of 35.2% over the forecast period to reach US$ 1,218.9 Mn in 2027. Rise in outbreak of pandemic in recent years increase the demand for contact tracing apps. Contact tracking apps are developed by governments or public enterprises, private enterprises and other to track infected persons in these pandemics. Emergence of super bugs (antibiotic resistant bacteria, viruses, parasites and fungi) and other drug resistant microorganisms resulting from various laboratory research activities and other medical activities are resulting in high prevalence of infectious diseases among global population. Rapid urbanization along with increase in human to human contact and other travel and trade activities have caused a rapid spread of these infections among general population causing resulting in pandemics.

According to Health Emergency Information and Risk Assessment program of World Health Organization (WHO) 7,000 new signals of potential outbreaks occur each month which generate 300 follow-ups, 30 investigations and 10 risk assessments which are later distributed to inform its operational partners globally.  In 2009 there was swine flu pandemic and in 2014 Ebola virus outbreak or the very recent outbreak of COVID-19 or coronavirus required contact tracking. These pandemics not only affect the human life but also has severely impact geopolitical and economy of impacted nations. In January 2019, research study of the World Economic Forum (WEF) states that these frequent outbreaks of pandemics will result in annual economic losses of 0.7% of global GDP. Rising events of pandemics creates demand for innovative solutions to track and stop the spread of infections until an effective vaccine is discovered. Contact tracing is an effective tool for identifying the chain of infection and arresting its spread further to other people who contacted the patient as they are at higher risk of becoming infected and potentially infecting others. Contact tracing works in three basic steps as defined by World Health Organization (WHO).

First is contact identification, which is performed as soon as a person is identified with active symptoms of infection, under which analysing the patient’s activities and his contact with other people is his vicinity. In second step, all the persons who have come in contact with the patient after onset of illness are listed down and to contact them with information related to further steps. In the last step a regular follow-up of these contacts is maintained to monitor symptoms of illness. The effectiveness of contact tracing is recognized by many national and international entities and have been used during various pandemics. For instance, in 2015 Centers for Disease Control and Prevention of the U.S in partnership with World Health Organization (WHO) released an emergency guideline for implementation of contact tracing during outbreak of Ebola virus disease. App based contact tracing is a more effective way for identifying and arresting the spread of infections. A significant portion of global population own a smartphone and has access to a network. Authorities can easily track the people through these apps and communicate with them. When two people meet and have installed contact tracing app on their respective smart device, their devices exchange a key code. When one of these two persons is infected his status is updated on the app. If the app works on a centralised system, then it provides anonymised IDs and codes gathered from other devices which the affected person met and the computer server sends these contacts alerts. While in decentralised system the app provides only anonymised ID of the user to the server which then analyses the database for contact identification and sending alerts. Thus, the efficiency of app-based solutions to effectively tackle the spread of diseases during outbreak of pandemic is propelling the growth of contact tracing app market across the globe.

However, the contact tracing apps have been plagued with risks for mobile app security, including user location data and other information with privacy concerns which are hampering the growth of global contact tracing app market. Some apps, have already experienced security threats which has raised legitimate fear about users’ data being broadcast and stolen. For instance, in May 2020 a flaw in Qatar’s EHTERAZ contact tracing app, which was mandated by the government, was identified which exposed sensitive information of more than one million users. In similar instance, in May 2020 the Arogya Setu app of Indian government faced allegations of excessive data gathering and lack in security measures. These concerns regarding unethical data gathering and its security has created demand for code hardening and runtime application self-protection (RASP) to protect contact tracing apps in use.

Global Contact Tracing App Market Segmentation:

Global Contact Tracing App Market By Origin Of App (Private, Multistakeholder, Government); By Type Of App (Contract Tracking, Medical Reporting, Information, Self-Diagnostics, Others); By Connectivity (Bluetooth, GPS); By Competition Type (Minor League, Major League); By Region (U.S., Canada, Mexico, Rest Of North America, The UK, France, Germany, Italy, Spain, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest Of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest Of Southeast Asia), Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest Of Middle East & Africa, Brazil, Argentina, Rest Of Latin America) – Global Insights, Growth, Size, Comparative Analysis, Trends And Forecast, 2022–2030

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