Press release
Beacon Market Size Is Set To Fly High In Years To Come | Apple Inc., BlueCats Australia Pty Limited
They are utilized in various industries, including retail, healthcare, travel & tourism, and education, due to their advantages such as high accuracy, low impact on device battery life, and communication through Bluetooth without an internet connection.
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The market growth is primarily driven by the increasing integration of advanced communication technologies and rising government initiatives in smart city projects. Beacon adoption is also expected to be boosted by the demand for devices based on cutting-edge Bluetooth technology from industries like transportation and logistics, entertainment, and others.
Beacons are deployed in smart city projects to enhance security systems and interact with users in proximity zones. The deployment of beacons is anticipated to increase globally due to the expansion of smart city projects, such as the Chinese government's efforts to develop about 500 smart cities between 2015 and 2020. Additionally, the growth of organized retailing and technological advancements present lucrative opportunities for the beacon market.
However, concerns regarding privacy and security pose challenges to market growth throughout the forecast period.
North America currently dominates the global beacon market in terms of market share, driven by the presence of key market players and increasing demand in the retail and public sectors. The Asia Pacific region is expected to exhibit the highest growth rate during the forecast period due to rising demand for location-based services from industries like entertainment, transportation & logistics, and education & research.
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The major players in the global beacon market include Accent Advanced Systems SLU, Apple Inc., BlueCats Australia Pty Limited, Dell Technologies Inc. (Blue Sense Networks), Estimote Inc., Hewlett Packard Enterprise Company (Aruba Networks), Kontakt.io Inc., Beaconinside GmbH, Onyx Beacon Ltd., and Leantegra Inc.
Recent developments in the market include Uber's launch of Beacon 2.0 in October 2019, an updated version of its device to help riders find the right car in crowded situations.
The market report covers historical data from 2019 to 2021 and provides revenue forecasts, company rankings, competitive landscape analysis, growth factors, and trends. It segments the market based on type, technology, application, and region. The regional scope includes North America, Europe, Asia Pacific, Latin America, and the Rest of the World.
The objective of the study is to define market sizes of different segments and countries in recent years and forecast their values for the coming years. The report incorporates both qualitative and quantitative aspects of the industry and provides insights into driving factors, challenges, opportunities, and the competitive landscape.
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