Contract Tracing Technology Market Size, Share & Industry Growth 2027
The global Contract Tracing Technology market gathered revenue around USD 4.0 Billion in 2020 and market is set to grow USD 27.9 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 18.2% during the prediction period 2021 to 2027.
Growth Factors:
The market contact tracing technologies are used to locate and isolate people suffering from infectious diseases to prevent a large-scale outbreak of any infectious diseases. These technologies can also aid in understanding virus transmission paths, assess outbreak trends, and developing effective disease management strategies. Since 2020, the adoption of contact tracing technology is rapidly increasing to control the spread of the COVID-19 pandemic thereby driving growth of the contact tracing technology market. Before the COVID-19 pandemic, these technologies were widely used for controlling the spread of infectious diseases such as Ebola, Zika, tuberculosis, and sexually transmitted diseases. For instance, the Ebola Contact Tracing application (ECT app) was developed for the 2014 – 2016 Ebola epidemic. However, the COVID-19 pandemic has drastically increased the global demand for contact tracing technology.
In addition, major tech companies are adopting strategies, such as partnerships and mergers and acquisitions, for enhancing contact tracing technology. In 2020, Google and Apple developed a partnership for building a broader contact tracing platform. In May 2020, Google and Apple introduced APIs for enabling interoperability between iOS and Android devices for contact tracing. In addition, both the companies also launched an Exposure Notifications System to control the spread of the COVID-19 virus. In May 2020, Everbridge, Inc. introduced the Everbridge CEM platform to aid the government and healthcare facilities to automate contact tracing. In July 2020, ImageSoft, Inc. introduced OnBase Patient and Contact Tracing Software to fight against the COVD-19 pandemic.
Tech companies are introducing innovative contact tracing wearable devices to curb the spread of COVID-19. However, restriction on the use of smartphones at workplaces has limited the adoption of COVID-19 tracking apps. Contact tracing wearables are useful in such instances where smartphone usage is prohibited. For instance, in April 2020, Estimote, Inc. launched a range of devices called “Proof of Health” wearables to curb the spread of COVID-19 at the workplace-level. The devices include GPS tracking, Bluetooth-powered proximity sensors, radio connectivity, built-in LTE, and a rechargeable battery. In December 2020, SaferMe introduced a contact tracing wearable device to complement its already existing app called “SaferMe”.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the Contract Tracing Technology market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global Contract Tracing Technology market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
Report Coverage
| Report Scope | Details |
| Market Size | USD 27.9 Billion by 2027 |
| Growth Rate | CAGR of 18.2% From 2021 to 2027 |
| Base Year | 2020 |
| Forecast Period | 2021 to 2027 |
| Historic Data | 2017 to 2020 |
| Report coverage | Growth Factors, Revenue Status, Competitive Landscape, and Future Trends |
| Segments Covered | Technology, Devices, Database Management And Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Google, Apple, Microsoft, Polte Corporation, Triax Technology, Everbridge, Facedrive, Salesforce, IBM, ImageSoft, Inc. |
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
Contract Tracing Technology market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
Competitive Rivalry
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Some of the prominent players in the Contract Tracing Technology Market include: Google, Apple, Microsoft, Polte Corporation, Triax Technology, Everbridge, Facedrive, Salesforce, IBM, ImageSoft, Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Highlights of the Report:
Research Methodology
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the Contract Tracing Technology market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the Contract Tracing Technology market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the Contract Tracing Technology markets more accurate and reliable.
Secondary Research
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
Primary Research
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
Industry participants involved in this research study include:
Key Points Covered in Contract Tracing Technology market Study:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers