Bluetooth Beacon Device Market in Retail Globally Grow at a CAGR of 17% by Revenue During the Forecast Period 2017-2020

Albany, NY, 17th FEB : Technavios market research analyst expects the global Bluetooth beacons market in retail to grow at a remarkable CAGR of around 17% during the forecast period. Since a substantial contribution in the retail industry comes from organized retail, which include hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash & carry stores, the growth in organized retailing is expediting the growth of the Bluetooth beacons devices market.

Multichannel marketing as well as in the product distribution in the retail industry has become one of the major trends, which is driving the growth of the market. Bluetooth beacons manufacturers are following this trend and are developing software apps for beacons as well as manufacturing beacon devices. One such example is that Estimote, a top beacon device manufacturer, is developing mobile software app for both the iOS and Android platform.

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Geographical segmentation of the Bluetooth beacons market in retail

APAC
Europe
North America
ROW (Latin America and MEA)
North America has the largest penetration of organized retails, hence this region generates the majority of the revenue in the Bluetooth beacons market in the retail industry. The US being the largest market in this region, holds a market share of close to 84% in terms of the shipments of beacon devices as of 2015.

Segmentation by technology standard of the Bluetooth beacons market in retail

iBeacon
Eddystone
Microsoft 10
The iBeacon technology, which was launched by Apple in late 2013 commands over the Bluetooth beacons market in the retail industry with an enormous share of over 77% as of 2015. However, as per Technavios estimation, the Eddystone technology is expected to grow at a higher CAGR than iBeacon, and it is likely to get close to the market share of iBeacon during the forecast period.

Competitive landscape and key vendors

The global Bluetooth beacons device market is still in its nascent stage as the technology as well as the product is relatively new in the market. Most of the retailers are deploying the beacon devices in try and test mode, and the vendors are at present not in for aggressive marketing for their products. Nevertheless, manufacturers have now started to innovate the end products using the same and standardized technology available in the global market.

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The key vendors in this market are -

BlueCats
Estimote
Kontakt.io
PayPal
Gimbal
The other prominent vendors in the market include Blue Sense Networks, Gelo, Glimworm Beacons, Onyx Beacon, and Sensorberg.

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