What's Driving the Beacon Technology Market Growth? Beaconinside, Estimote, Sensorberg, Glimworm Beacons, Kontakt.io, blueSense Networks, Madison Beacons, Gimbal, BlueCats, Apple, Google, Swirl, Texas Instruments

Graphical Research 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 market in tandem with its competitive terrain.

The market for beacon technology or beacon tech is likely to boom over the next few years with emerging new applications in retail, tourism, healthcare, transportation, and many other areas. Recent upsurge in the adoption of the technology can be also tied with the growing popularity of cloud based platforms among small and medium size businesses.

Beacons work with smartphone applications to act as a bridge between the digital and the retail world. With efficient management and enhancement of the UX, these applications could play a pivotal role in taking customers’ shopping experiences to the next level.

As beacons work with mobile applications, they have tremendous potential of increasing both customer engagement and retention rates. Consequently, the widespread adoption of smartphones in emerging markets is encouraging retail and other sectors to incorporate advanced proximity marketing technologies.

Highlighted below are some of the most impactful trends driving the proliferation of beacon technology industry in the near future.

iBeacon and Eddystone platforms to gain traction in North America

The Eddystone platform has been gaining a lot of traction in the North America market and it is slated to grow at an impressive 75% CAGR through 2024 in the region. The platform completely eliminates the need for native applications by accessing the chrome app on smartphones and offers a contextual mobile experience.

Access sample pages of the report, “North America Beacon Technology Market Forecasts 2024” in detail along with the table of contents (ToC) @
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The iBeacon platform segment, on the other hand, dominated North America beacon technology market during 2016 and will show similar trends in the coming years. The platform is emerging as a pioneer in commercializing beacon technology and will continue to gain popularity in the region.

Emerging applications of beacon technology in Europe’s retail sector

In the European region, the use of beacon transmitters has increased tenfold in recent years as retailers aim to boost customer revisits and encourage impulsive purchases. It is estimated that the retail sector will capture about 40% revenue share of Europe beacon technology industry by the year 2024.

Numerous major retailers are deploying beacons to interact with shoppers by offering them useful information about the latest products and ongoing offers. The technology also provides interior mapping facility for retail outlets and simplifies customers’ shopping experience through the use of maps.

Presence of smartphone manufacturers across China

In 2016, China accounted for nearly one-fourth revenue share of Asia Pacific beacon technology market and this percentage is expected to grow substantially in the next few years. The presence of notable smartphone manufacturers, growing popularity of smartphones, and their low cost availability have been among the key factors fueling the regional technology adoption.

Access sample pages of the report, “APAC Beacon Technology Market Forecasts 2024” in detail along with the table of contents (ToC) @
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The mobile user penetration, which signifies the number of unique individuals using smartphones compared to the national population, was estimated to be about 78% in 2016, while the country’s mobile broadband penetration reached 73%.

Increasing adoption of beacon tech among retail giants in the U.S.

The U.S. could dominate North America beacon technology industry trends over the forthcoming years led by widespread adoption of the technology in retail and numerous other end-use sectors. The country is home to several retail giants such as Walmart, Target, and Macy’s that are deploying beacons in their outlets in order to deliver a personalized shopping experience to customers and boost their location based marketing strategy.

In the near future, the penetration of smartphones, internet of things, and connected devices will open up new possibilities and opportunities for regional market.

Rising number of beacons in tourism & hospitality sector in the U.K.

The U.K. is expected to lead Europe beacon technology market trends, capturing a revenue share of over 35% by the year 2024. The region is witnessing widespread application of beacons in various industries including retail, hospitality, tourism, and transportation.

Back in February 2016, global entertainment company FOX had leveraged Exterion Media’s beacon network for the promotion of the movie Kung Fu Panda 3 on London buses. It had also collaborated with Shazam to deliver personalized content, including the movie trailer on commuters’ smartphones.

Access sample pages of the report, “Europe Beacon Technology Market Forecasts 2024” in detail along with the table of contents (ToC) @
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The popularity and increasing adoption of beacon tech in tourism, transportation, and hospitality sectors will emerge as a prominent factor driving future trends in beacon technology. The technology can assist tourists and visitors with location based services. The Castle of Formigine in Italy, for example, has incorporated beacons that allow tourists to virtual tour of the castle. The ArtPlace Museum app which is available for Android as well as Apple devices guides tourists with interactive content which includes 3D graphics, storytelling, illustrations, and music.

This is just one example which illustrates how beacon tech is enabling an enhanced experience for customers. As the technology continues to evolve, the beacon technology industry is bound to witness countless such applications in the years to come.

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