What's driving the Beacon Technology Market trends? Google Inc., Accent Systems, Apple Inc., Beaconinside, BlueCats, Blue Sense Networks, Estimote Inc., Gimbal, Glimworm Beacons, Kontakt.io, KS Technologies, Madison Beacons, Onyx Beacon, Radius Networks I

Market Study Report LLC has added a new report on Beacon Technology market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Beacon Technology market in tandem with its competitive terrain.

Beacon Technology Market is set to exceed USD 25 billion by 2024; according to a new research report. The beacon technology market growth is attributed to increasing penetration of smartphones around the world and need for location-based proximity marketing solutions to improve customer experience. Mobile devices have become an integral component of marketing and communication strategies of businesses to attract customers who use smartphones as the primary channel to conduct research and make purchase decisions.

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Company Profiles

o Google Inc.
o Accent Systems
o Apple Inc.
o Beaconinside
o BlueCats
o Blue Sense Networks
o Estimote Inc.
o Gimbal
o Glimworm Beacons
o Kontakt.io
o KS Technologies
o Madison Beacons
o Onyx Beacon
o Radius Networks Inc.
o RECO
o Swirl Networks
o Sensorberg
o Texas Instruments

The business owners are becoming aware of these customer preferences and thus, they are leveraging proximity-based beacon transmitters to enable real-time communication with the customers. Furthermore, proliferation of smart cities around the world is also favorably contributing to the growth of beacon technology market as beacons can facilitate highly connected urban infrastructures. However, factors such as data security concerns and networking and precision challenges can restrain the market growth during the forecast period.

iBeacon is expected to account for over 50% market share by 2024 owing to large scale early adoption of the platform by key vendors to develop beacons. As Apple was the first company to introduce a beacon standard, iBeacon has received rapid adoption in the past five years since its inception in 2013. Google's Eddystone is projected to exhibit high growth between 2017 and 2024 due to an extensive Android user-base and consistent upgradation of the platform by the company.

On-premise beacon technology market will account for considerable share by 2024 due to the availability of numerous vendors developing and commercializing beacons that can be locally deployed by businesses with ease and without much technical expertise or assistance. However, cloud deployment model is expected to witness accelerated growth during the timeline owing to rapid adoption of cloud computing technology, as it offers a cost-effective approach to store and manage huge volumes of customer data. With vendors such as Kontakt.io and Cisco offering cloud-based beacon solutions to their customers, the adoption of this model is likely to increase consistently over the forecast period.

The retail sector is expected to gain a major share of the beacon technology market by 2024 accounting to over 55%. This dominance can be attributed to rapid adoption of the technology by retailers to strengthen their marketing strategies by incorporating proximity marketing using beacon transmitters. Beacons have proved to be effective in increasing revisits and enabling impulse purchases while enabling an omnichannel shopping experience. This is expected to fuel the further adoption of the technology by the retail industry over the timeline. On the other hand, the healthcare sector is expected to witness high growth between 2017 and 2024 as the technology offers to improve the hospital management functions by facilitating better patient and staff monitoring.

BLE holds a major beacon technology market share in 2016 and is expected to dominate the market throughout the timeline as it is a low-cost wireless technology alternative to Wi-Fi, NFC and GPS technologies for location-based services. As BLE-enabled devices consume considerably less power compared to those running on these technologies, customers tend to prefer such devices to increase the productivity of their location-based marketing functions. These factors result in a relatively low cost for manufacturing and deploying BLE beacons compared to setting up Wi-Fi networks. Hence, BLE has been the most preferred choice for operating beacons.

North America beacon technology market growth can be credited to the large-scale adoption of the technology by retailers in the U.S. along with extensive penetration and of mobile devices. These retailers are using beacons to provide customers with flash sales, product information, customized deals and other offers to motivate them to make purchase decisions. With a growing e-commerce ecosystem in the region, especially in the U.S., retailers are leveraging this modern technology to offer a personalized, digital and rich content-driven shopping experience to the customers in their stores.

The players operating in the beacon technology market include platform providers, beacon technology providers, and hardware providers. Apple and Google are the key providers of beacon platforms whereas companies such as Estimote, Kontakt.io, and Gimbal are aggressively trying to acquire a larger share of the beacon technology market by developing innovative beacons.The competition in the market is characterized by new product development and innovation strategies leading to the emergence of several new players producing beacons with enhanced performance capabilities.

Beacon technology market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2024, for the following segments:

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Beacon Technology Market, By Platform

iBeacon
Eddystone
AltBeacon

Beacon Technology Market, By Deployment Model

On-premise
Cloud

Beacon Technology Market, By Application

Retail
Travel, Tourism and Hospitality
Healthcare
Financial Institutions
Real-estate
Education

Beacon Technology Market, By Technology
BLE
Wi-Fi
Ultrasound
Combined Technologies

Report Content

Chapter 1. Methodology & Scope
1.1. Methodology
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Beacon technology industry 360� 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
Chapter 4. Competitive Landscape, 2016
4.1. Introduction
4.2. Comparative analysis of platform providers
4.3. Comparative analysis of technology providers
Chapter 5. Beacon Technology Market, By Platform
5.1. Beacon technology market share by platform, 2016 & 2024
5.2. iBeacon
5.2.1. iBeacon market, by region, 2015-2024
5.2.2. iBeacon market, by deployment model, 2015 - 2024
Chapter 6. Beacon Technology Market, By Deployment Model
6.1. Beacon technology market share by deployment model, 2016 & 2024
6.2. On-premise
6.2.1. Market estimates & forecast, by region, 2015-2024
6.3. Cloud-based
6.3.1. Market estimates & forecast, by region, 2015-2024
Chapter 7. Beacon Technology Market, By Application
7.1. Beacon technology market share by application, 2016 & 2024
7.2. Retail
7.2.1. Market estimates & forecast, by region, 2015-2024
7.3. Travel, tourim and hospitality
7.3.1. Market estimates & forecast, by region, 2015-2024
7.4. Healthcare
Chapter 8. Beacon Technology Market, By Technology
8.1. Beacon technology market share by technology, 2016 & 2024
8.2. BLE
8.2.1. Market estimates & forecast, by region, 2015-2024
8.3. Wi-Fi
Chapter 9. Beacon Technology Market, By Region
9.1. Beacon technology market share by region, 2016 & 2024
Chapter 10. Company Profiles
10.1. Accent Systems
10.2. Apple Inc.
10.3. Beaconinside
10.4. BlueCats
10.5. Blue Sense Networks
10.6. Estimote Inc.
10.7. Gimbal
10.8. Glimworm Beacons
10.9. Google Inc.
10.10. Kontakt.io
10.11. KS Technologies
10.12. Madison Beacons
10.13. Onyx Beacon
10.14. Radius Networks Inc.
10.15. RECO
10.16. Swirl Networks
10.17. Sensorberg
10.18. Texas Instruments

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