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Bluetooth Beacon and iBeacon Market is projected to grow at an enormous rate to reflect a CAGR of 91.4% by 2025 end
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Global Bluetooth Beacon and iBeacon Market: Dynamics
The global Bluetooth beacon and iBeacon market is influenced by several aspects such as implementation of beacons in retail stores to engage customers, consistent growth in smartphone technology, emergence of smart home automation, growing adoption of RTLS, increasing use of beacons in the hospitality sector, rising use of beacons in the industrial sector to enhance security measures, development of virtual beacons, growing penetration of internet, contactless payments and mobile marketing and increasing use of beacons in fleet management. These aspects have pushed the growth pace of the Bluetooth beacon and iBeacon market to a large extent. There are certain factors that can pose a challenge to the growth of the global market. Aspects such as problems associated with Bluetooth and less awareness are posing hindrances to the growth of the global market.
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Global Bluetooth Beacon and iBeacon Market: Forecast Highlights
The global Bluetooth beacon and iBeacon market is projected to grow at an enormous rate to reflect a CAGR of 91.4% throughout the forecast period to reach an estimation of more than US$ 37 Bn by the end of the assessment year (2025) from a valuation of about US$ 200 Mn in 2017.
Global Bluetooth Beacon and iBeacon Market: Segmental Highlights
The global Bluetooth beacon and iBeacon market is segmented by technology (iBeacon, eddystone and others), by end user (retail and non-retail) and by region (North America, Latin America, Europe, Asia Pacific and Middle East and Africa).
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By region, the North America region is expected to be the largest region for Bluetooth and iBeacons. The market for Bluetooth and iBeacons in this region is anticipated to grow at a high 90.6% CAGR to reach a huge estimation that exceeds US$ 14 Bn by 2025. Asia Pacific Bluetooth beacon and iBeacon market is projected to grow at a high CAGR of 95.4 % during the period of forecast
By technology, the iBeacon segment is expected to be highly lucrative and is estimated to reach a value exceeding US$ 26 Bn by the end of 2025. The eddystone segment is projected to grow at the highest pace to reflect a CAGR of 93% throughout the period of assessment
By end user, the retail segment is the largest owing to high adoption of beacons in the retail stores. The retail segment is poised to grow at a CAGR of 90.4% during the period of forecast to reach a value of more than US$ 19 Bn by the end of 2025. The non-retail segment has also caught high traction since few years and is projected to grow at a comparatively high CAGR of 92.5% during the 2017-2025 timeline
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Global Bluetooth Beacon and iBeacon Market: Competitive Assessment
The global Bluetooth beacon and iBeacon market research report has covered in-depth analysis on key players operating in the market. Key strategies, developments and innovations, product portfolio, mergers and acquisitions, geographical spread and key financials of major players in the Bluetooth beacon and iBeacon market such as Texas Instruments Inc., Nordic Semiconductor ASA, Silicon Laboratories Inc., Onyx Beacon LTD, Estimote, Inc., Kontakt Micro-Location Sp. Z.o.o., BlueCats Australia Pty Limited, Gimbal, Inc., Blue Sense Networks Ltd., Accent Advanced Systems, SLU, Glimworm Beacons, Aruba Networks, Sensorberg Gmbh and Radius Networks, Inc., have been systematically crafted in this research report.
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