Everything You Need to Know about Beacon Market! Investment Strategies by Major Industry Players for 2020-2030
Beacon is small device that sends out radio signals to nearby mobile phones and tablets, containing a small amount of data. Mobile apps on compatible devices are able to listen for signals from beacons on proximity area and then trigger an experience such as sending a promotional notification, coupon, video, URL form, and others through the app.
Beacon technology is widely adopted in various sectors such as retail, healthcare, travel & tourism, and education owing to its features such as employee & asset monitoring, data generation, resource optimization, and others. In addition, beacon has made employee and asset monitoring more accurate and easier than before. Beacons create geofences to help track item in and out of specific area or locations. Further, it also provides history of movement, which can be used to study trend lines and predictive analysis.
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What is Market Size of Beacon?
According to a recent report published by Allied Market Research, titled, Beacon Market by Type, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2018-2024, the global beacon market was valued at $626.5 million in 2017, and is projected to reach at $14,838.8 million by 2024, growing at a CAGR of 61.5% from 2018 to 2024.
What's Drives the Beacon Market Growth?
Increase in investment in proximity marketing, enhanced features of beacon solution such as employee & asset monitoring, data generation, resource optimization, and others drive the growth of the beacon market. However, rise in data security and privacy concern is expected to limit the market growth.
Which are the Top growing Companies in GLobal Market?
Key Market Players Profiled
o Advanced system, SLU
o Apple Inc.
o Blue Sense Networks
o Estimote, Inc.,
o Glimworm Beacons,
o Beaconinside GmbH
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Which Region Holds Largest Revenue Share?
At present, North America dominates this market. In 2017, China registered the highest growth in Asia-Pacific. Similarly, the UK led the overall beacon market in Europe in 2017. In the same year, the U.S. dominated the North America market.
Which Segment Generating Maximum Revenue?
In 2017, based on type, the ibeacon was the dominant segment in terms of revenue, and is anticipated to continue this trend during the forecast period. However, based on application, retail segment dominated the global market in the same year. By technology, BLE segment accounted for the majority market share of the beacon market.
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What You Get from this Report?
The report includes a micro-level study of different regions adopting beacon solution for various applications. In addition, it discusses the potential opportunities for market players to enter the market. Moreover, it provides an in-depth market analysis of automotive filter outlining current trends, key driving factors, and potential areas for product investments.
Key Findings of the Beacon Market:
o Based on type, the ibeacon segment is anticipated to dominate the global beacon market, in terms of revenue. However, based on application, retail segment dominated the market in 2017.
o In 2017, the BLE segment accounted for the highest revenue.
o North America held the majority of the market share in 2017.
o Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
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