Beacon Market Trends till 2030 Detail Analysis focusing on Top Players

The Global Beacon Market size was valued at USD 1.35 billion in 2019 and is predicted to reach USD 49.31 billion by 2030 with a CAGR of 38.6% from 2020-2030.

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Market Dynamics and Trends:

The major factors driving the global beacon market growth are, upsurge in location-based services, improved efficacy of targeted marketing, hybridization of advanced communication technologies, as well as commencement of smart city projects. Also, increasing adoption of smartphones and wearable, growing penetration of AI, and IoT technologies, as well as increasing utilization of Beacons in logistics, warehousing and retail, are the factors anticipated to propel the growth of global Beacon market. However, increase in cyber-attacks and concerns regarding privacy and data security are likely to inhibit the beacon market growth.

Moreover, government initiatives in developing the smart cities, shopping malls, advancement in telecommunication infrastructures and Bluetooth technologies, as well as market players launching innovative technologies to gain competitive edge, are some of the factors anticipated to create new opportunities for the market players throughout the forecast period.

Market Segmentations and Scope of the Study:

The global beacon market share has been analyzed based on type, technology, application, and geography.

Based on type, the market is segmented into iBeacon, Eddystone, AltBeacon, and others. Based on technology, the market is fragmented into BLE, Wi-Fi, ultrasound, and combined technology. Based on application, the market is divided into retail, travel, tourism & hospitality, healthcare, BFSI, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

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Geographical Analysis:

North America is expected to dominate the global Beacon market thought the forecast period accounting for the highest market share. This is attributed to factors such as presence of well-establish networking & telecommunication infrastructure, and development of advanced technologies.

Asia Pacific is gaining traction in the global Beacon market, with gradual increase in market share owing to rapid urbanization and surge in population growth in this region. Furthermore, growing adoption of smartphone, increasing inclination towards geo-marketing, and increasing adoption of advanced technologies are expected to further accelerate the growth of beacon market.

Competitive Landscape:

The beacon market is highly competitive and consists of various market players. Some of the major market players include advanced system, Apple Inc., SLU, Blue Sense Networks, BlueCats, Gelo, Estimote, Inc., Glimworm Beacons, Kontakt.io, Gimbal, and Beaconinside GmbH among others.

The key players are employing strategies such as product launches, acquisition, and technical collaboration, in-order to gain stronger position in the Beacon market. The Bluetooth Beacons launched by Accent Systems’ in March 2019, enables organizations to receive online donations via mobile phone. Direct, easy, and completely anonymous transactions can make the lack of cash not become an excuse to fulfill the willingness of the donor to donate.

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This release was published on openPR.