Beacon Technology Market By Platform (ibeacon, Altbeacon, Eddystone), Deployment Model (cloud And On-premise), Application (retail, Tourism & Hospitality, Financial Institutions Real-estate Education, Travel, Healthcare) And Technology (wi-fi, Ble, Combin

Industry Outlook and Trend Analysis
The Beacon Technology Market was worth USD 54.34 million in 2014 and is expected to reach approximately USD 10474.30 million by 2023, while registering itself at a compound annual growth rate (CAGR) of 79.43% during the forecast period. The beacon technology market is picking up traction because of reliably developing interest for proximity-based marketing solutions in the retail condition. As there is an expanding requirement for customized service experience by clients, retailers are exploring modern technological options for enhancing in-store advertising endeavours. With smartphones ready to develop as the pervasive technology of the 21st century, their fast adoption around the globe is boosting the development of the beacon technology market. In addition, government offices around the globe are concentrating on creating smart city projects to modernize the urban framework and make very associated urban areas by utilizing innovative technologies.

Platform Outlook and Trend Analysis
The iBeacon platform is anticipated to command the market by 2024 with a major share of the market of more than 55% as the stage is the pioneer in launching Bluetooth Low Energy (BLE) wireless technology. As different vendors forcefully started producing and commercializing iBeacon compatible beacon transmitters not long after Apple introduced this platform in 2013, it got the first mover's benefit and caught a tremendous share of the beacon technology market.

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Deployment Outlook and Trend Analysis
The on-premise deployment model holds the significant share of the beacon technology market in 2016, and it is anticipated to keep up this predominance over the forecast period as the vast majority of the beacon makers offer low-cost beacon transmitters which make it exceedingly reasonable even for private companies to send them with negligible processing foundation. However, with expanding implementation of cloud computing technology and its ability of viably manage large fleets of beacons, the segment is anticipated to grow tremendously.

Application Outlook and Trend Analysis
The retail segment holds the biggest share of the market in 2016 and will keep up the biggest share of the market over the forecast period because of the extensive scale adoption of beacon technology by retailers to effectively actualize proximity marketing campaigns. As it enables the retailers to drive customer-specific and location-specific advertising messages onto the clients' cell phones continuously, the achievement rate of promoting efforts can be fundamentally made strides.

Technology Outlook and Trend Analysis
BLE commanded the beacon technology market in 2016 with a substantial market share of more than 85% because of its low power usage capacities contrasted with different advancements in the market, for example, Wi-Fi, Geofencing and GPS. As it is less expensive to fabricate BLE modules, the general cost of reference point equipment can be essentially decreased which makes the innovation the most favoured choice for working beacons.

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Regional Outlook and Trend Analysis
North America is anticipated to command the beacon technology market over the forecast period inferable from the broad adoption of the innovation in the area, particularly in the retail segment. Expansive scale U.S. retailers, for example, Walmart and Target have adopted beacons in various retail stores for beaming coupons, promotions, and store maps and products information through their mobile applications. As conventional retailers in the locale are becoming more skilled at utilizing innovation to maintain against e-commerce retail models, beacons have risen as the go to innovation to empower a rich digital shopping experience for their clients.

Competitive Insights
The leading players in the market are Gimbal Inc, Beaconinside, Sensorberg, Glimworm Beacons, Google, Onyx Beacon SRL, Estimote Inc, Texas Instruments, Radius Networks, BlueCat, blueSense Networks and Apple. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

The Beacon Technology Market is segmented as follows-
By Platform:
iBeacon
AltBeacon
Eddystone

By Deployment Model:
Cloud
On-premise

By Application:
Retail
Tourism & Hospitality
Financial Institutions Real-estate Education
Travel
Healthcare

By Technology:
Wi-Fi
BLE
Combined Technologies
Ultrasound

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