Global beacon market
Dublin, August 12, 2022 (GLOBE NEWSWIRE) — The “Global Beacon Market: Forecasts from 2022 to 2027” Report has been added to ResearchAndMarkets.com offering.
The Beacon Market was valued at US$1,215.257 million in 2020 and is expected to grow at a CAGR of 41.91% over the forecast period to reach a total market size of US$14,087.993 million in 2027 .
Beacons are small, inexpensive devices that transmit Bluetooth Low Energy signals or Bluetooth Smart signals using Bluetooth Low Energy (BLE). Compatible apps on mobile devices can listen for signals from adjacent beacons and trigger a variety of experiences, including sending a promotional notification, video, URL form, and more, through the app.
Additionally, beacon technology is widely used in a wide variety of industries such as retail, healthcare, travel and tourism, and education due to its advantages such as superior accuracy compared to other geolocation methods. , low battery consumption and does not require an Internet connection. , among others.
One of the key market trends that is gaining traction is the adoption of Bluetooth smart technology, loop-through technology, and artificial intelligence-based wireless technology (OTA). Companies are increasingly adopting technology to improve their presence in the market. For example, Uber announced in October 2019 that an updated version of the colorful Beacon device would be available as Beacon 2.0, which will sit inside the car and reflect the color chosen by drivers in the app to help them find their places. cars in crowded situations.
An increase in investment in proximity marketing by companies is driving the growth of the global beacon market. For example, the fast food chain used a new proximity marketing strategy through beacons at 15 McDonald’s outlets in Istanbul to improve customer relations and promote a new line of coffee-flavored beverages. The need to monitor employees, manage assets, ensure safety, and optimize resources is also contributing to market growth. Several companies have developed advanced beacon protocols, including Apple Inc. and Google LLC, which are called iBeacon and Eddystone, respectively.
Integration of advanced communication technologies
There are several factors driving the growth of the beacon market, such as the increasing adoption and popularity of advanced communication technologies such as Bluetooth, Wi-Fi, NFC (Near Field Communication), RFID (Radio Frequency Identification), and others. Increasing demand for beacon-enabled devices using Bluetooth 5.2, Bluetooth 5, and Bluetooth 4 across industries, including transportation, logistics, entertainment, and more, is expected to drive their adoption over the forecast period.
Approximately 4 billion bluetooth devices were manufactured in 2018, according to a report by Bluetooth SIG, Inc. Therefore, Bluetooth technology has become a key enabler of the beacon market globally. The approach of large companies towards this technology is also helping in its expansion. For example, GE and Walmart have partnered to launch a unique test using iBeacon technology.
The retailer used GE light bulbs to showcase beacon technology and provide customers with push notifications of special offers and discounts. Nisa, a popular convenience store group, has launched a pilot program using iBeacon technology. Beacons attached to shopping carts and baskets to track shoppers’ movements around the store along with sensors installed on the ceiling. The second largest general merchandise retailer in the US, Target, has started testing beacon technology in 50 of its stores.
Ongoing smart city projects
Beacons are used in smart city projects by different central and state governments to enhance the security of infrastructure assets by allowing greater interaction with users within their proximity zone. As smart cities continue to grow globally, beacons are expected to see increased deployment during the forecast period. iBeacon Living Lab in Amsterdam is an example of smart city technology.
The IoT Sandbox is a large, public, open test bed that offers a wealth of iBeacon installations and easy-to-use platforms for developers to generate actionable open data. RLSB’s (Royal London Society for the Blind) Wayfindr, a smartphone app, aims to change the way people with disabilities navigate the world. The app uses beacon technology to track a user’s location and provide location-based audio-based directions and advice.
Privacy & Security
The market is limited by data security concerns related to wireless networks and the Internet of Things (IoT). Through the use of beacon technology, the information is transmitted directly to the corresponding mobile application, which then stores all the personal information of the user. Additionally, increasing cybersecurity threats targeting businesses via IoT devices are expected to hamper the growth of the beacon market during the forecast period.
Impact of COVID-19 on Global Beacon Market:
Governments are implementing beacons as a security measure in public places. AI and ML along with Bluetooth enabled low energy beacons will create greater opportunities for market players. Estimote, for example, plans to introduce a wearable bluetooth tracking device to support workplace safety and prevent the spread of Covid-19.
Key Topics Covered:
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. market indicators
4.2. market restrictions
4.3. Porter’s Five Forces Analysis
4.3.1. The power of provider’s negociation
4.3.2. Bargaining powers of buyers
4.3.3. Threat of substitutes
4.3.4. The threat of new entrants
4.3.5. Competitive rivalry in the industry
4.4. Industry value chain analysis
5. GLOBAL BEACONS MARKET, BY TECHNOLOGY
6. GLOBAL BEACONS MARKET, BY END USERS
6.3. Retail sale
6.4. Health care
7. GLOBAL BEACONS MARKET, BY GEOGRAPHY
7.2. North America
7.3. South America
7.4.3. United Kingdom
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.5.2. United Arab Emirates
7.6. Pacific Asia
7.6.3. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major players and strategy analysis
8.2. Emerging players and market profitability
8.3. Mergers, Acquisitions, Agreements and Collaborations
8.4. Supplier competitiveness matrix
9. COMPANY PROFILES
9.1. blue cats
9.2. Estimote, Inc.
9.3. Glimworm Beacons
9.4. gimbal, inc.
9.7. Kartographers Technologies Pvt. Limited.
9.8. Verve Wireless, Inc.
9.9. G24 Power, Ltd.
For more information on this report, visit https://www.researchandmarkets.com/r/5svqz9
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