About the Bluetooth Beacon Devices Market
Bluetooth beacon devices are developed with BLE technology. BLE version 4.0 was the first version used for developing Bluetooth beacons. The BLE technology standard for beacons was introduced by Apple for the first time in September 2013. Apple launched its beacon technology under the brand name iBeacon in October 2013. In mid-2015, Google and Microsoft also developed beacon technology standards: Eddystone and Microsoft 10. These different beacon technology standards support three different smartphone operating systems. iBeacon supports iOS; Eddystone supports Android; and Microsoft 10 supports Windows.
Technavio’s analysts forecast the global Bluetooth beacon devices market to grow at a CAGR of 222.8% by volume during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global Bluetooth beacon devices market for 2016-2020. To calculate the market size, the report takes into account the shipments of Bluetooth beacon devices worldwide for the following segments:
Technavio Announces the Publication of its Research Report – Global Bluetooth Beacon Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global Bluetooth beacon devices market: PLUS Location Systems (BlueCats), Blue Sense Networks, Estimote, General Electric, Gelo, Glimworm Beacons, Kontakt.io, Onyx Beacon, PayPal, Sensorberg, and Qualcomm (Gimbal).
Commenting on the report, an analyst from Technavio’s team said: “A trend which is contributing majorly to market growth is the availability of standardized BLE technology. Beacon devices are developed based on BLE technology. The first version of BLE is 4.0, which was introduced in 2012. Using BLE technology, mobile platform manufacturers are now developing their own beacon software code. The software code is based on Java. The currently available beacon technologies are iBeacon, Eddystone, and Microsoft 10. These software types are available for beacon device manufacturers, which are required to buy licenses from software builders.”
According to the report, a key growth driver is the increasing use of beacon devices in organized retail. Hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash-and-carry stores are the formats that fall under organized retail. This classification is based on the size of the stores. Among these formats, hypermarkets and supermarkets are the most prominent users of Bluetooth beacons. Retailers can also be classified as Tier-1, Tier-2, and Tier-3 retailers, based on the annual revenue generated. Tier-1 retailers are those with annual sales of more than $1 billion. Tier-2 retailers generate annual sales in the range of $500 million to $1 billion while Tier-3 retailers have annual sales below $500 million. Tier-1 and Tier-2 retailers are the leading users of Bluetooth beacons.
Further, the report states that one challenge that could restrict market growth is the growing privacy concerns among consumers.
PLUS Location Systems (BlueCats), Blue Sense Networks, Estimote, General Electric, Gelo, Glimworm Beacons, Kontakt.io, Onyx Beacon, PayPal, Sensorberg, Qualcomm (Gimbal).
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook