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2020-09-01
720
Global
Smart beacon (Bluetooth low energy beacon) is a proximity beacon that sends signals using Bluetooth technology. When a smartphone or tablet is in the beacon’s range, it triggers a notification on the device depending on the distance of the device. The regions which have high penetration of smart phones and tablets are the ones using beacons at a large extent. Apple and Google have come up with their protocols namely iBeacon and Eddystone respectively. Both the protocols work at different kind of spaces, filling different requirements of the user. Beacon technology is quite new and over the forecast period it is expected 500 million units of beacons will be out in the market. In 2016, there were 550 million smartphone devices that were Bluetooth enabled to receive the signals transmitted by the beacons. The advertisement through the use of beacons had 85% higher response from the retail consumers as compared to the other advertising methods. The cost effective feature of the beacon has increased its popularity over the various parts of the world.
Goldstein Market Intelligence analyst forecast that the global beacon market size is set to grow at a CAGR of 54.5% over the forecast years. The adaptation of IoT, high use of Bluetooth enabled smart phones and tablets, piercing advertisements, and more factors are expected to move the smart beacon market to grow as per the forecast.
By Beacon Standards
By Beacon Offering
By Connectivity Type
By End-User
Based on Geography
On the basis of end-user, retail industry had the largest market share of 63.4% in 2016 of the total global smart beacon market. The retail industry is highly impacted by the effective advertising and marketing strategies adopted. Use of smart beacons has raised the impact of advertising on the people and this segment is expected to grow at a rate of 54.1% CAGR over 2016-2024. The penetration of smart beacon in healthcare industry has been rising at a rate of 35% annually, being the opportunistic segment in future.
The smart cities development has a rising trend of using smart beacons to leverage their infrastructure assets and locations by increasing interaction with people in their proximity. Beacons are great for city promotions, surveys and location based marketing.
According to the report, major driving factor for the growth of smart beacon market is the rising demand for instant communication to transfer information from any sector to the people around. Smart beacons have become one of the important aspects of IoT, which is pushing the growth of smart beacon market.
Further, the major challenge for the global smart beacon is testing a beacon based application, which is not easy like testing other applications. The problems such as range of beacons, internet connectivity, placement of beacon, multiple geo-locations hinder the testing of application.
Based on geography, North America has the largest market share of 33.4% in 2016, of the total global smart beacon market. North America construction industry had maximum conversion rate from using traditional materials to sustainable materials in order to combat climate change and other environmental issues through LEED certified plans. Asia-Pacific is growing at a fastest rate of 8.3% CAGR on the back of opportunities available in rapid growth of construction activities to replace the traditional materials with sustainable materials at the affordable prices due to the presence of large raw material sources to make the smart beacons.
The report covers the present ground scenario and the future growth prospects of the smart beacon market for 2017-2030 along with the sales and revenue of the smart beacon. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of shipment data of the smart beacons, manufacturers and distributors of the smart beacons, number of existing application to run smart beacons.
The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Smart Beacon Market " along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
Global smart beacon market report comprises of the following companies as the key players in the smart beacon market:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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