Smart Beacon Market Size is Expected to Reach $103.94 Billion By 2030

Allied Market Research released a new report on the global smart beacon market. The Global Smart Beacon Market size is expected to reach $103.94 billion by 2030 from $3.28 billion in 2020, growing at a CAGR of 37.70% from 2021 to 2030. This research report serves as a valuable resource for economic investments, key industry statistics, top market segments, emerging trends, and the competitive landscape. In addition, this detailed study is performed by utilizing Porter's five forces framework that examines industry structure, including competitive rivalry and the bargaining power of buyers & suppliers.

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A smart beacon is a small device that constantly sends out radio signals to nearby smartphones and tablets, containing a small amount of data. Cost-effective, easy to deploy, and straightforwardly effective, beacons have become one of the most popular ways to engage customers across industries, especially in retail and marketing. Most of the aforementioned beacon types emerged in the years since the inception of beacon technology to accommodate the business needs of different companies, so new ones may come into being in the future, giving companies new options to engage customers.

Apple introduced the iBeacon protocol at the Apple Worldwide Developers Conference in 2013. iBeacon opened doors to a host of opportunities for location-data and proximity marketing. This protocol enables seamless interactivity between iOS and Android devices, and an iBeacon hardware, such as BLE beacons. iBeacon technology has been empowering businesses by letting them welcome customers, provide location-relevant information and promote ongoing offers. iBeacon compliant beacons allow smartphones to detect BLE signals and display the notifications and campaigns linked to them.

Key benefits for stakeholders:

The report offers an in-depth analysis of market segments, prevailing trends, forecasts, and dynamics within the global smart beacon market from 2023 to 2032, with a primary focus on identifying business opportunities.

It incorporates various analytical tools, including PORTER's five forces analysis, value chain analysis, opportunity map analysis, drivers & restraints impact analysis, and the market attractiveness index to provide a holistic market assessment.

In addition, the research examines key players in the global smart beacon market, offering insights into their company profiles, market strategies, and supply-demand dynamics. It evaluates the competitive landscape, helping stakeholders identify potential partners or rivals.

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Market player positioning provides a comparative analysis of competitors, delivering valuable insights into each company's current standing within the market environment.

Important questions answered in the report:

What are the key factors driving the growth of the global smart beacon market?

What is the projected market size and growth rate of the global smart beacon industry?

Who are the prominent players featured in the market?

Which region is anticipated to lead the market during the forecast period?

What are the emerging trends shaping the future of the global smart beacon market?

Segmentation of the global smart beacon industry:

The smart beacon market is segmented on the basis of standard type, connectivity, offering, end use, and region. By standard type, the market is divided into iBeacon, Eddystone, and others. On the basis of connectivity, it is segregated into Bluetooth low energy (BLE), Wi-Fi, and hybrid. By offering, it is divided into hardware, software, and services. The hardware segment further sub segmented into standard beacon, sticker beacon, and card beacon. Depending on end use, it is separated into retail, hospitality, transportation & logistics, healthcare, BFSI, education, and others. By region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Italy, Germany, Spain, France, UK, and the rest of Europe), Asia-Pacific (China, Australia, South Korea, India, Japan, and the rest of Asia-Pacific), and LAMEA (Africa, the Middle East, and Latin America).

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Key Findings of the Study

In 2020, the iBeacon segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 35.40% during the forecast period.

The Bluetooth Low Energy (BLE) segment accounted for more than 70% of the global market share in 2020.

The education segment witness highest growth rate during the forecast period.

Germany was the major shareholder in the Europe smart beacon market share, accounting for approximately 30% share in 2020.

In conclusion, the AMR report on the smart beacon sector offers crucial insights into various industry segments, enabling companies to make well-informed investment choices. Its recent findings support businesses in developing effective growth strategies for global expansion.

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