Global Smart Beacon Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Smart Beacon Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global smart beacon market report has been segmented on the basis of beacon standard, connectivity type, end-use industry, and region.
Global Smart Beacon Market: Overview
A smart beacon is a small device transmits signal with the help of Bluetooth low energy proximity sensing technology to other smart devices nearby by using compatible application or operating system. When smart device such as smartphone or tablet is in beacon’s range, it automatically detects physical location of that device and started tracking customer, then triggers allocation based notification on the device. For example, if smart beacons are used in brick and mortar retail stores for mobile commerce to send notification to customers regarding special offers.
Global Smart Beacon Market: Dynamics
Increasing digitalization and rising adoption of smart devices is a key factor expected to drive growth of the global market over the forecast period.
Increasing demand and adoption of smart devices and the concept of smart cities are expected to be key driving factors for the global smart beacon market. This growth is further expected to be assisted by the increasing penetration of internet and growing customer expenditure across the globe.
In addition, rising demand for smart beacons from transportation and logistics industry, owing to its features such as real-time tracking, etc., is another factor expected to further fuel growth of the target market over the forecast period.
Moreover, introduction of innovative products such as Eddystone by manufacturers and technological advancements are some other factors expected to boost growth of the global market over the forecast period.
However, lack technological resources for implementation of smart beacon across various countries is a key factor expected to restrain growth of the global market over the forecast period. In addition, lack of awareness regarding smart beacon technology among people across the globe is another factor expected to hamper growth of the target market over the forecast period.
Ongoing trend observed in the global market is introduction of hybrid connection type smart beacons, this trend is expected to support growth of the global market over the forecast period.
Global Smart Beacon Market: Segment Analysis
Among the beacon standards segments, the Eddystone segment is expected register significant growth and is expected to dominate in the target market over the forecast period., owing to it offers extended functionality beyond iBeacon. Eddystone provides relevant information to customers based on their choice, behavior, priority, location, and buying habits.
Global Smart Beacon Market: Regional Analysis
The market in North America is expected to dominate in the global market in terms of revenue and is expected to continue its dominance over the forecast period, owing to increasing demand for smart beacon technology across various end-use industries such as retail, public transportation, logistics, hospitality, etc.
The market in Asia Pacific is expected to register significant growth in terms of revenue over the forecast period, owing to increasing demand for smart beacons across various end-use industries such as healthcare, retail, education, automotive, etc., across various countries in this region.
Global Smart Beacon Market Segmentation:
Segmentation by beacon standards:
- Others (URIBeacon, AltBeacon)
Segmentation by connectivity type:
- Bluetooth Low Energy (BLE)
Segmentation by offering:
Segmentation by end-use industry:
- Transportation & Logistics
- Public Gatherings and Spaces
- Banking, Financial Services, and Insurance (BFSI)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Estimote Inc.
- Aruba Networks Inc.
- io, Inc.
- Cisco Systems Inc.
- Bluvision, Inc.
- Onyx Corp.
- Leantegra Inc.
- Gimbal, Inc.
- Swirl Networks, Inc.
- Sensoro Inc.
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