Beacon Market by Type (iBeacon, Eddystone, AltBeacon, and Others), by Technology (BLE, Wi-Fi, Ultrasound, and Combined Technology), by Application (Retail, Travel, Tourism & Hospitality, Healthcare, BFSI, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030
Industry: Semiconductor & Electronics | Publish Date: 08-Oct-2020 | No of Pages: 306 | No. of Tables: 172 | No. of Figures: 142 | Format: PDF | Report Code : N/A
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Market Defination:
The global Beacon Market size was valued at USD 1.35 billion in 2019 and is predicted to reach USD 49.31 billion by 2030 with a CAGR of 38.6% from 2020-2030.
Beacon is a small, battery-powered, electronic device that runs on Wi-Fi, low energy Bluetooth, ultrasound, or hybrid technologies. It is used for transmitting digital information to nearby devices such smartphones, tablets, laptops, and other smart gadgets. With the help of Beacons, marketers can send timely and targeted messages to potential customers present in and around their physical location. Once beacons are placed in a brick-and-mortar store, detailed information about the customer movements can be gathered by the retailers, which help them optimizing the in-store experience and create highly personalized marketing campaigns. The promotional content can be in the form of videos, URL, notifications, and others.
The use of Beacon is gaining momentum across industries such as healthcare, tourism, hospitality, retail, BSFI and others, due to its advantages such as indoor navigation, delivery tracking, and real time information sharing among others.
Market Dynamics and Trends:
The major factors driving the global beacon technology market growth are, upsurge in location-based services, improved efficacy of targeted marketing, hybridization of advanced communication technologies, as well as commencement of smart city projects. Also, increasing adoption of smartphones and wearable, growing penetration of AI, and IoT technologies, as well as increasing utilization of Beacons in logistics, warehousing and retail, are the factors anticipated to propel the growth of global Beacon market.
However, increase in cyber-attacks and concerns regarding privacy and data security are likely to inhibit the beacon market growth.
Moreover, government initiatives in developing the smart cities, shopping malls, advancement in telecommunication infrastructures and Bluetooth technologies, as well as market players launching innovative technologies to gain competitive edge, are some of the factors anticipated to create new opportunities for the market players throughout the forecast period.
Market Segmentations and Scope of the Study:
The global beacon market share has been analyzed based on type, technology, application, and geography.
Based on type, the market is segmented into iBeacon, Eddystone, AltBeacon, and others. Based on technology, the market is fragmented into BLE, Wi-Fi, ultrasound, and combined technology. Based on application, the market is divided into retail, travel, tourism & hospitality, healthcare, BFSI, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis:
North America is expected to dominate the global Beacon market thought the forecast period accounting for the highest market share. This is attributed to factors such as presence of well-establish networking & telecommunication infrastructure, and development of advanced technologies.
Asia Pacific is gaining traction in the global Beacon market, with gradual increase in market share owing to rapid urbanization and surge in population growth in this region. Furthermore, growing adoption of smartphone, increasing inclination towards geo-marketing, and increasing adoption of advanced technologies are expected to further accelerate the growth of beacon market.
Competitive Landscape:
The beacon industry is highly competitive and consists of various market players. Some of the major market players include Advanced system, Apple Inc., SLU, Blue Sense Networks, BlueCats, Gelo, Estimote, Inc., Glimworm Beacons, Kontakt.io, Gimbal, and Beaconinside GmbH among others.
The key players are employing strategies such as product launches, acquisition, and technical collaboration, in-order to gain stronger position in the Beacon market.
The Bluetooth Beacons launched by Accent Systems’ in March 2019, enables organizations to receive online donations via mobile phone. Direct, easy, and completely anonymous transactions can make the lack of cash not become an excuse to fulfill the willingness of the donor to donate.
The world’s richest man and Amazon CEO, Jeff Bezos, made an announcement in May 2020, to buy stakes in a start-up initiated by the UK Digital Freight Forwarding Companies. This start-up named ‘BEACON,’ is a ‘series-A’ fundraising startup that amounts to $15 million. Freight Forwarding being a trillion-dollar industry, aims to make its ‘BEACON’ a booking agent between the exporters and importers; thereby facilitating trade finance and Logistics with the help of AI, data science, search optimization, cloud, and automation technologies.
In June 2020, React Mobile announced a strategic partnership with Brady Corp raising $6 million fund, for developing innovative safety solutions with enhanced productivity and efficacy. React Mobile’s safety platform assist in deploying resources to the exact location utilizing GPS geolocation and Bluetooth beacon technology, thereby locating the employees in distress during an emergency within seconds of an alert.
KEY BENEFITS:
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The beacon market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
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The study comprises a deep dive analysis of the market trend including the current and future trends for depicting the prevalent investment pockets in the market.
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The report provides detailed information related to key drivers, restraints and opportunities and their impact on the market.
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The report incorporates competitive analysis of the market players along with their market share in the global market.
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The SWOT analysis and Porters Five Forces model is elaborated in the study of the market.
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Value chain analysis in the beacon market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
By Type
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iBeacon
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Eddystone
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AltBeacon
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Others
By Technology
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BLE
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Wi-Fi
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Ultrasound
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Combined Technology
By Application
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Retail
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Travel, Tourism & Hospitality
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Healthcare
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BFSI
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Others
By Geography
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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India
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Japan
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Australia
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Rest of Asia-Pacific
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RoW
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Latin America
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Middle East
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Africa
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Beacon Market Key Segments:
|
Parameters |
Details |
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Analysis Period |
2019–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2020–2030 |
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Market Size Estimation |
Billion (USD) |
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Market Segmentation |
By Type (iBeacon, Eddystone, AltBeacon, Other Type) By Technology (BLE, Wi-Fi, Ultrasound, Combined Technology) By Application (Retail, Travel, Tourism & Hospitality, Healthcare, BFSI, Other Application) |
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Geographical Segmentation |
North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, Australia, India, Rest of APAC), Rest of the World (Latin America, Middle East, Africa) |
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Companies Profiled |
Advanced system, Apple Inc., SLU, Blue Sense Networks, BlueCats, Gelo, Estimote, Inc., Glimworm Beacons, Kontakt.io, Gimbal, and Beaconinside GmbH. |
KEY PLAYERS:
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Accent Advanced system
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Apple Inc.
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SLU
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Dell Technologies Inc.
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BlueCats
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Hewlett Packard Enterprise Company
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Estimote, Inc.
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Onyx Beacon Ltd
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Kontakt.io
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Leantegra Inc
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Beaconinside GmbH
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