Know Worldwide specifications of the Global Smart Beacon Market Size 2023-2033 | Top Key Players: Estimote, Bluvision, Onyx Beacon, Leantegra, Aruba, Kontakt.io, Cisco, Gimbal, Accent Systems, Swirl Networks, Sensoro, JAALEE Technology, and other key vend

According to a research report published by Spherical Insights & Consulting, Global Smart Beacon Market Size Expected to Grow from USD 7.17 Billion in 2023 to USD 112.43 Billion by 2033, at a CAGR of 31.68% during the forecast period 2023-2033.

Bluetooth Low Energy (BLE) beacons, also known as smart beacons, continuously transmit signals to nearby devices. They provide proximity-based notifications and serve as an indoor positioning system, communicating with smartphones to calculate users' approximate location. This technology allows mobile apps to detect users' micro-local market positions and deliver highly relevant content depending on their immediate surroundings. The growing need for proximity marketing, combined with the use of location-based services in retail, healthcare, hospitality, and transportation, is propelling the smart beacon industry forward. Because enterprises see smart beacons' revolutionary potential for customer engagement and operational efficiency, the global smart beacon industry has room for substantial growth. However, the limited range and precision of smart beacons may hamper their efficacy, particularly in large indoor and outdoor areas, impeding industrial growth. This constraint affects businesses that rely on precise location-based services and limits widespread adoption.

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The iBeacon segment is expected to hold the largest share of the global smart beacon market during the anticipation timeframe.

Based on beacon standard, the global smart beacon market is categorized into iBeacon and Eddystone. Among these, the iBeacon segment is expected to hold the largest share of the global smart beacon market during the anticipation timeframe. Since the debut of iBeacon, several companies have developed beacons-iBeacon-compatible hardware transmitters that broadcast their presence to nearby mobile devices via Bluetooth low energy (BLE).

The hardware segment is expected to grow at the fastest CAGR during the anticipation timeframe.

Based on the offering, the global smart beacon market is categorized into hardware, software, and service. Among these, the hardware segment is expected to grow at the fastest CAGR during the anticipation timeframe. Smart beacons and beacon pro are used in a range of settings, including airports, museums, hospitals, enterprises, retail stores, and college campuses. Navigation is the most appropriate use for their characteristics; nonetheless, their battery life, signal interval, and transmission power are all designed to provide excellent performance in a range of settings.

The retail segment is expected to hold the largest share of the global smart beacon market during the anticipation timeframe.

Based on end-user, the global smart beacon market is categorized into retail, hospitality, BFSI, education and others. Among these, the retail segment is expected to hold the largest share of the global smart beacon market during the anticipation timeframe. Retailers can use Bluetooth-enabled gadgets that link to mobile phones within a business to send clients quick notifications based on their exact position. There are three main ways that businesses could benefit from beacons. They initially enable real-time interactions between a store and its customers based on their precise geographic locations.

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Europe is projected to hold the largest share of the global smart beacon market over the anticipation timeframe.
Europe is projected to hold the largest share of the global smart beacon market over the anticipation timeframe. The rising need for smart beacons in the retail sector has resulted in rapid developments, with big offline retailers installing unique beacons to increase productivity. Furthermore, firms in the micro-location and mobile proximity industries are constantly improving their data analytics services to better target customers.

North America is expected to grow at the fastest CAGR growth of the global smart beacon market during the anticipation timeframe. Smart beacons are increasingly used in consumer-facing and service industries such as retail, public transportation, logistics, and hospitality. The rising prevalence of digitization across industries, together with merchants' adoption of business intelligence, aided the region's market expansion.

Major vendors in the global smart beacon market are Estimote, Bluvision, Onyx Beacon, Leantegra, Aruba, Kontakt.io, Cisco, Gimbal, Accent Systems, Swirl Networks, Sensoro, JAALEE Technology, Others.

Key Target Audience

Market Players
Investors
End-users
Government Authorities
Consulting and Research Firm
Venture capitalists
Value-Added Resellers (VARs)

Recent Developments

In June 2022, Axians and Cisco worked together to help businesses in Germany and the Netherlands digitize and improve their IoT capabilities, using Cisco's Private 5G network. This cooperation aimed to provide improved connectivity and new solutions for businesses looking to implement IoT technologies.

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Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global smart beacon market based on the below-mentioned segments:

Global Smart Beacon Market, By Beacon Standard
iBeacon
Eddystone

Global Smart Beacon Market, By Offering
Hardware
Software
Service

Global Smart Beacon Market, By End-User
Retail
Hospitality
BFSI
Education
Others

Global Smart Beacon Market, By Regional
North America
US
Canada
Mexico

Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific
China
Japan
India
South Korea
Australia
Rest of Asia Pacific

South America
Brazil
Argentina
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa

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About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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