In the most recent publication from Report Ocean, titled “Exploring the Dynamics of the Beacon Market: Trends, Market Share, Size, Projected Growth, Lucrative Prospects, and Forecasts Spanning 2023-2031,” a thorough and all-encompassing scrutiny of the sector is presented. Within its pages, you will uncover not only penetrating market insights but also a detailed examination of competitive forces and geographical factors influencing the landscape. Furthermore, the document delves into the cutting-edge innovations driving the evolution of this market realm.
What is the Size of the Beacon Market?
Global Beacon Market is valued at approximately USD 4.49 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 48.90% over the forecast period 2022-2029. A beacon is a small, wireless device that uses Bluetooth Low Energy (BLE) or Bluetooth SMART technology to transmit signals. Mobile apps running on compatible devices can detect signals from nearby beacons and initiate experiences such as sending a marketing notification, coupon, video, URL form, and others.
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Additionally, beacon technology is widely used in a variety of industries, including retail, healthcare, travel & tourism, and education, due to its advantages, including its high degree of accuracy when compared to other geo-location technologies, low impact on device battery life, the fact that it communicates through Bluetooth without an internet connection, and others. The key factor driving the market growth is the increasing integration of advanced communication technologies and rising government initiatives in ongoing smart city projects. Beacon adoption is anticipated to be boosted by the rising demand for Beacon devices based on cutting-edge Bluetooth technology, such as Bluetooth 5.2, Bluetooth 5, and Bluetooth 4, from a variety of industries, including transportation and logistics, entertainment, and others.
Furthermore, in smart city projects, Beacon is utilized to enhance the security system and related infrastructure by increasing interaction with users in its proximity zone. The deployment of beacons is anticipated to increase throughout the forecast period due to the expansion of numerous smart city projects around the world. For instance, the Chinese government is concentrating its efforts between 2015 and 2020 on funding the development of about 500 nations thru the smart city project. Also, an upsurge in organized retailing is anticipated to create a lucrative opportunity for the market during the forecast period and rising technological advancement. However, the increasing concerns regarding privacy and security stifle market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Beacon Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the dominating region across the world in terms of market share, owing to the presence of key market players and increasing demand for proximity tools in the retail and public sectors in the region. Whereas, Asia Pacific is also anticipated to exhibit the highest growth rate over the forecast period, owing to factors such as rising demand for location-based services from industries including entertainment, transportation & logistics, and education & research sectors that would create lucrative growth prospects for the Beacon market across the Asia Pacific region.
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Major market player included in this report are:
Accent Advanced Systems SLU
Apple, Inc.
BlueCats Australia Pty Limited
Dell Technologies Inc. (Blue Sense Networks)
Estimote, Inc.
Hewlett Packard Enterprise Company (Aruba Networks)
Kontakt.io, Inc.
Beaconinside GmbH
Onyx Beacon Ltd.
Leantegra Inc.
Recent Developments in the Market:
In Oct. 2019, Uber announced the launch of an updated version of its colourful Beacon device known as Beacon 2.0., where the digital display is intended to sit on the car’s dashboard and will glow a specific colour that riders chose in the app to assist them to find the right car in crowded situations.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
iBeacon
Eddystone
AltBeacon
Others
By Technology:
BLE (Bluetooth)
Wi-Fi
Ultrasound
Combined Technology
By Application:
Retail
Travel, Tourism & Hospitality
Healthcare
BFSI
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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