Global Smart Beacon Market Size, Trends, Share, Industry Analysis, Demand & Growth Opportunity Assessment, Regional Outlook, And Forecast 2016-2024

Global Smart Beacon Market Analysis 

Market Overview

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 Research analyst forecast that the global beacon market size is set to reach USD 25,068.47 billion by 2024 growing 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.

Covered in This Global Smart Beacon Market Report

The report covers the present ground scenario and the future growth prospects of the smart beacon market for 2016-2024 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.

Global Smart Beacon Market Segmentation

By Beacon Standards

• iBeacon
• Eddystone
• Others

By Beacon Offering

• Hardware
• Software
• Services

By Connectivity Type

• Bluetooth Low Energy
• Hybrid

By End-User

• Retail Industry
• Healthcare industry
• Transportation and Logistics Industry
• Events Management Industry
• Aviation Industry
• Hospitality Industry
• Banking and Financial Industry

Based on Geography

• North America (U.S. & Canada)  smart beacon market {Market Share (%), Market Size (USD Billion)}
• Latin America (Brazil, Mexico, Argentina & Rest of Latin America)  smart beacon market {Market Share (%), Market Size (USD Billion)}
• Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden & RoE)  smart beacon market {Market Share (%), Market Size (USD Billion)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)  smart beacon market {Market Share (%), Market Size (USD Billion)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA)  smart beacon market {Market Share (%), Market Size (USD Billion)}

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.

Smart beacon market outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the smart beacon market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global smart beacon market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Smart Beacon Market Trends, Drivers and Challenges

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.

Global Smart Beacon Market Analysis

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.

Key Players

Global smart beacon market report comprises of the following companies as the key players in the smart beacon market: Estimote, Aruba, Kontakt.io, Cisco, Bluvision, Onyx Beacon, Leantegra, Gimbal, Accent Systems, Swirl Networks, Sensoro, JAALEE Technology, Beaconinside, Blesh, BlueUp.

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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Key questions answered in this Global Smart Beacon Market Report

• What is the total market size by 2024 and what would be the expected growth rate?
• What is the revenue of smart beacon market in 2015-16 and what would be the expected demand over the forecasted period?
• What are the key market trends?
• What are the factors which are driving this market?
• What are the major barriers to market growth?
• Who all are the key vendors in this market space?
• What are the market opportunities for the existing and entry level players?
• What are the recent developments and business strategy of the key players?

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