Beacon Technology - Global Market Outlook (2019-2027)

Beacon Technology - Global Market Outlook (2019-2027)

According to Stratistics MRC, the Global Beacon Technology market is accounted for $1.58 billion in 2019 and is expected to reach $34.48 billion by 2027 growing at a CAGR of 47.0% during the forecast period. The extensive usage of technology in industry verticals, growing adoption of IoT, demand for location-based marketing solutions, and increasing penetration of mobile devices are the major factors driving the market growth. However, presence of alternatives, high initial setup cost and security issues are restraining the market growth.

Beacons are small wireless transmitters that use Bluetooth low energy (BLE) technology to send signals to smart devices by conducting a location-based search. The beacon technology is mostly used in location-based technology. Most of the beacons come in a standard size of a Wi-Fi router; each beacon has a unique number and letter ID, and Bluetooth broadcasts identification information several times a second. Beacons are used as proximity technology to detect human presence in nearby areas with an average range of 70 meters. These beacons get activated after detecting the human presence and record human actions to deliver contextual, personalized, and informational experiences.

Based on the deployment model, the on-cloud segment is going to have high growth during the forecast period due to the rising implementation of cloud-enabled BLE networks, which will eliminate the high costs related to overlay networks and complicated deployment & operation of these networks. These cloud-based networks aid in finding the accurate location, marketing & engagement, and replacements of battery-powered beacons through network-managed virtual beacons with simplicity and scalability which accelerates the demand for cloud-based platforms.

By geography, North America is going to have lucrative growth during the forecast period due to the early adoption of the technology in numerous industries across the region because of the increasing demand for proximity tools in the retail and public sectors. The government in this region is focusing on smart city initiatives, which, in turn, is resulting in the deployment of Bluetooth low energy (BLE) devices.

Some of the key players profiled in the Beacon Technology Market include Accent Advanced Systems, Apple Inc., Beaconinside, Blue Sense Networks, BlueCats, Estimote Inc., Gimbal, Glimworm Beacons, Google Inc., Kontakt.io, Madison Beacons, Onyx Beacon Ltd, Radius Networks Inc., Sensorberg, Swirl Networks, Samsung, Bluvision Inc., and ROXIMITY

Components Covered:
• Hardware
• Software

Technologies Covered:
• Bluetooth Low-Energy (BLE)
• Combined Technologies
• Ultrasound
• Wi-Fi

Deployment Models Covered:
• On-Premise
• On-Cloud

Applications Covered:
• Travel, Tourism & Hospitality
• Financial Institutions
• Transportation & Logistics
• Healthcare
• Education
• Retail
• Real-Estate
• Banking, Financial Services, and Insurance (BFSI)
• Automotive
• Sports
• Aviation
• Hotels
• Indoor Positioning and Navigation
• Employee Attendance and Tracking
• Facilities Management
• Payments

Platforms Covered:
• iBeacon
• GeoBeacon
• AltBeacon
• Eddystone
• Paypal

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances