Beacon Technology Market Trends & Forecast To 2024| Keu Companies- Apple Inc., Estimote Inc., Google, Kontakt.io, Madison Beacons, Swirl Networks, Texas Instruments
They are the latest developments in location technology and proximity marketing. Beacons facilitate the transmission of information to smart devices making location-based searches and interaction simplified, reliable and precise. Eddystone platform segment in beacon technology market is poised to register more than 90% CAGR between 2017-2024.
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The major companies covered in this beacon technology market report: -
o Accent Systems
o Apple Inc.
o Blue Sense Networks
o Estimote Inc.
o Glimworm Beacons
o Google Inc.
o KS Technologies
o Madison Beacons
o Onyx Beacon
o Radius Networks Inc.
o Swirl Networks
o Texas Instruments
Sensors that are used in retail stores allow the customers to gain adequate information at the right time thereby enhancing the shopping experience and reducing the time. Demand for small sensors is estimated to witness robust growth in the coming years owing to their assistance in streamlining operations and improving the customer base of any business.
The presence of a strong retail industry in countries like China, Japan, India, U.S., and South Korea will support the global beacon technology industry outlook. As per Indian Brand Equity Foundation (IBEF), the total consumption expenditure of India's retail industry will surpass USD 3000 billion in 2020 as compared to USD 1824 billion in the year 2017.
This has driven innovations and demand for different types of BLE sensors, like special beacons and USB in order to monitor the in-store visits, bolstering beacon technology market trends.
Real estate market is estimated to showcase commendable growth rate over 2017-2024. With the rise in disposable income among people even across the developing economies, the real estate market is witnessing high demand and is constantly transforming to meet the changing consumer preferences and abilities.
Several industry players are venturing into the production of proximity-based cameras and sensor items that assist the real estate agents to market their property in a personalized and real-time, location-centric manner thereby magnifying the global beacon technology market trends.
Regionally, Asia pacific beacon technology market is anticipated to exhibit a rapid growth rate during the forecasted period. With the rise in affordability level in emerging countries like India, China, Korea, Singapore and Japan pertaining to higher employment level, the consumers are increasingly depending on e-commerce sites for purchasing items owing to their variety and cost-efficiency.
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Due to this, brick and mortar retailers are compelled to adopt innovative marketing strategies to influence the consumers to attract them to their stores. In the year 2017, the America multinational e-commerce giant launched Amazon Prime in Singapore in order to support its expansion across the region.
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