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Beacon Technology Market: Drivers, Restraint & Future Growth | Apple Inc., Estimote Inc., Google, Kontakt.io, Madison Beacons, Swirl Networks, Texas Instruments

Beacon Technology Market

Beacon Technology Market

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.

With beacons enabling retailers to ensure vendor compliance, track vendor activity, and monitor deliveries, beacon technology industry outlook from the retail sector is certain to witness a massive change of dynamics. As per estimates, the retail sphere would emerge as the dominant end-use segment of beacon technology market in terms of revenue by 2024, driven by the huge adoption of this technology by retailers for efficiently implementing proximity marketing campaigns and enabling them to push customer-centric and location-specific marketing messages onto consumers' mobile devices in real-time.

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Sum and substance, higher customer engagement is presently the prime focus for retailers today - the profound factor behind the exceptional beacon technology market proceeds from retail applications. Whether e-commerce giants launching full-fledged mobile applications or brick-and -mortar storeowners launching companion mobile apps to enhance instore shopping experience, penetration of beacon technology has become imperative to keep pace with the consumers expectations.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Accent Systems
2. Apple Inc.
3. Beaconinside
4. BlueCats
5. Blue Sense Networks
6. Estimote Inc.
7. Gimbal
8. Glimworm Beacons
9. Google Inc.
10. Kontakt.io
11. KS Technologies
12. Madison Beacons
13. Onyx Beacon
14. Radius Networks Inc.
15. RECO
16. Swirl Networks
17. Sensorberg
18. Texas Instruments

Ever since its inception in the mainstream tech cosmos, beacon technology market has been gaining widespread recognition, on account of the fact that beacons possess the exceptional ability to promptly send radio frequency signals to transmit information by notifying Bluetooth devices about their presence. Supported by high-grade technologies such as Bluetooth, Wi-Fi, digital signage, wireless charging, and the like, beacons have emerged as the go-to mechanism for most of the industrial verticals, by enabling location-based messaging functions for detecting mobile devices.

Having been chronicled as one of the most opportunistic business spheres for potential investments, the growth chart of beacon technology market is forecast to be exponential over the coming seven years. The commercialization potential of the entire business space is quite evident from the estimates by Global Market Insights, Inc., that claims beacon technology market to exceed a valuation of USD 25 billion by 2024. 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.

As per estimates, nearly 570 million Apple and Android smartphones have been found to be compatible with BLE (Bluetooth low energy) technology - used by beacons in order to trigger smartphone apps. By the end of 2020 in fact, close to 8.4 billion BLE devices may be shipped to the Indian shores, driven by popular demand. On these grounds, it is arguably precise to state that BLE technology is one of the most prominent ones that is deployed to manufacture beacons, and will massively propel beacon technology market in the years ahead

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About DEC Research:
DecResearch.com, powered by Global Market Insights, is an online aggregator of information on market research reports. The website provides comprehensive information as well as a detailed 'Table of Contents' for reports being regularly published by GMI.

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