Global Beacon Market is projected to grow at a CAGR of 89.76% by 2025

REPORT DESCRIPTION: BEACON MARKET

Beacon Market Insights

The global beacon market is anticipated to grow at a CAGR of 89.76% and is projected to reach USD 45.59 billion by 2025. Factors such as recent developments in the electronics and information technology including Internet of Things are likely to contribute towards the overall market growth.

A Beacon is a small Bluetooth radio transmitter that sends Bluetooth Low Energy signals to smartphones and tablets. Once emitted, these signals reach the phones in the vicinity of the Beacon device and interact with the mobile applications installed on those phones.

Also, increasing acceptance of beacon technology coupled with low power requirement and relatively lower cost is projected to boost the market growth. However, factors such as limited transmit-only protocol, frequency variation, privacy & security issues are likely to hamper the market growth over the coming years.

Beacon Market: Technology Insights

The global beacon market is segmented into iBeacon, Eddystone, AltBeacon, and GeoBeacon among others. iBeacon segment is projected to account for a significant market share over the forecast period due to its applications in various industry verticals such as museums, retail and travel industries.

Eddystone is also anticipated to grow at a considerable rate over the forecast period. Factors such as open format & flexibility coupled with integration with google products are likely to account for the market growth.

The demand for AltBeacons is expected to increase over the projected period due to a number of advantages including open source, more flexibility with a customizable source code, and compatibility with other mobile operating platforms.

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Beacon Market: End-Use/ Organization Size Insights

The global beacon market is classified into retail & commercial, museums, healthcare, building & infrastructure, airports & airlines, banking, hospitality, and automotive, among others.

The demand for beacons in healthcare segment is projected to increase significantly over the forecast period. Factors such as management of queue coupled with integration of Wearable and Staff Communication are likely to influence the market demand.

The retail & commercial segment accounted for a considerable revenue share in 2016 due to increasing beacon deployment for enhancing customer experience. Location based campaigns are especially relevant for retailers, as these campaigns notify relevant information at the right time.

Based on Organization size, the beacon market is divided into large enterprises and Small & Medium Enterprises.

Beacon Market: Regional Insights

North America is anticipated to account for a considerable revenue share in retail industry owing to growing number of organized retails across the region.

Europe is also likely to grow at a flourishing CAGR over the projected period due to growing multichannel marketing along with product distribution in the retail industry across these regions.

The demand for beacons is likely to increase in Asia-Pacific due to increasing adoption of iBeacon, particularly in countries such as India, China, Japan, and Philippines. Factors such as increasing spending capacity along with rising consumer awareness for iBeacon and smart beacons are likely to boost the regional market.

High internet penetration coupled with enhancement in technology infrastructure is projected to foster beacon market growth in Middle East & Africa.

Beacon Market: End-Use Landscape

The end-use landscape includes a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase products from global beacon market. The major consumers of the product are Palomar Medical Center, Johns Hopkins Hospital, and El Camino Hospital among others

Beacon Market: Competitor Analysis

Some of the leading players profiled in the global beacon market include BlueCats, Gimbal, Inc., Kontakt.io, Inc., Estimote, Inc., Apple Inc., Aruba, Gelo Inc., Blue Sense Networks, Sensorberg GmbH, Glimworm Beacon, Accent Advanced Systems, SLU., Onyx Beacon Ltd., and Bluvision, Inc. among others.

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