Beacon Technology Market By Top Key Players: Accent Advanced Systems, SLU, Apple, Beaconinside GMBH, BlueCats, Blue Sense Networks, Estimote, Gimbal, Glimworm Beacons, Google, Kontakt.io, KS Technologies

Market Overview: -

Global Beacon Technology market is set to cross USD 25 billion by 2024. Beacons are small radio transmitters that transmit data to mobile devices present within a specific range. Beacons are being increasingly utilized in retail environments where they enable functions such as proximity marketing and mobile payment systems. Other than retail establishments, beacons are used in many other applications such as travel and tourism, banking and financial institutions, real estate, and healthcare facilities.

The technology has been creating a buzz since for a while now, particularly post the introduction of Apple’s first Bluetooth based ibeacon protocol in the year 2013. How beacon technology is making a head way across myriad end-use domains in a comparatively short span has been a subject of contention for tech investors. Given the backdrop of a tech-driven era, the surging demand for proximity based merchandizing solutions in the retail space, as per experts’ opinion, can be fundamentally credited for the increasing popularity of beacon technology industry over the recent years.

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Top Key Players: -

Some of the key players in the beacon technology market include Accent Advanced Systems, SLU, Apple, Beaconinside GMBH, BlueCats, Blue Sense Networks, Estimote, Gimbal, Glimworm Beacons, Google, Kontakt.io, KS Technologies, Madison Beacons, Onyx Beacon, Radius Networks, RECO (Perple Inc.), Sensorberg GMBH, Swirl Networks, and Texas Instruments.

Market share calculation in this report is not done based on companies covered in it. The calculation of beacon technology market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

North America will hold majority of the share in beacon technology market throughout the forecasted period owing to the increase adoption of the BLE in the region for proximity marketing. With high penetration of mobile devices in U.S. and Canada, marketers are leveraging the technology to increase their operating profits and maximize their ROI.

With extensive presence of beacon platform providers such as Apple and high investment opportunities for advancing beacon technology, the market is experiencing exponential growth in this region. It is expected that APAC will have huge opportunity due to increasing investment in marketing especially in countries such as India, Japan, and China.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope, definition and research parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Beacon technology industry 360º synopsis, 2013 - 2024
2.1.1. Region trends
2.1.2. Platform trends
2.1.3. Deployment Model trends
2.1.4. Application trends
2.1.5. Technology trends
Chapter 3. Beacon Technology Industry Insights
3.1. Introduction
3.2. Benefits of beacons
3.2.1. Relevant, real-time information
3.2.2. Cheap and easy to adopt and implement
3.2.3. Reduced waiting time and queuing
3.2.4. Assistance with indoor navigation
3.2.5. Increased customer visits and purchases
3.2.6. Personalized marketing with relevant offers and discounts
3.2.7. Increased app engagement and retention
3.3. Industry segmentation
3.4. Evolution of Beacons
3.5. Addressable Market
3.6. Industry landscape, 2015 - 2024
3.7. Industry ecosystem analysis
3.8. Beacon architecture analysis
3.9. Regulatory landscape
3.10. Technology & innovation landscape
3.10.1. Bluetooth 5
3.10.2. Online retargeting and attribution
3.10.3. Acquisitions
3.11. Industry impact forces
3.11.1. Growth drivers
3.11.1.1. Growing adoption of IoT
3.11.1.2. Demand for location-based marketing solutions
3.11.1.3. Increasing penetration of mobile devices
3.11.1.4. Emphasis on developing smart cities
3.11.2. Industry pitfalls & challenges
3.11.2.1. Data security and privacy concerns
3.11.2.2. Networking and precision challenges
3.12. Porter's analysis
3.13. PESTEL Analysis

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Having been recognized as a technology that is a breakthrough in itself in reaching out consumers, beacon technology market penetration in the retail space can be aptly quoted as revolutionary. In fact, experts claim, it has taken contextual marketing completely to a new level. One of the major factors that was somewhat standing in the way of beacon technology adoption even until a few years back, is the difficulty of integrating beacon-enabled app into the business model.

However, with the introduction of Eddystone by Google in the year 2015, the scenario completely changed. This new beacon protocol has removed the necessity of an app, allowing the business model to connect to customers via Google Chrome browser on iOS and other Android mobile devices using beacon. Claimed as the immediate rival of ibeacon component, the growth prospect of Eddystone platform in beacon technology market is likely to be exceptionally phenomenal over 2017-2024.

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