SMART BEACON MARKET TO REACH USD 34.8 BILLION BY 2027 | CAGR 52.9% – FORENCIS RESEARCH

Global Smart Beacon Market: Key Highlights

• According to the new market research report “Smart Beacon Market by Standard (AltBeacon, Eddystone, iBeacon), by Connectivity (Wi-Fi, Bluetooth, Hybrid), by Component (Hardware, Software, Services), by End Use Industry (Healthcare, Automotive, Retail, Aerospace, BFSI, Sports, Transportation & Logistics, Hospitality, Others), by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) – Global Forecast (2020 to 2027)”, the global Smart Beacon market is estimated to reach USD 34.8 Billion by 2027 at a CAGR of around 52.9% during the review period.
• Beacon devices are small and wireless transmitters works on Bluetooth Low-Energy technology to send signals to other smart devices nearby. These are one of the latest developments in location technology and proximity marketing.
• The technology works on three standards: iBeacon, Eddystone, and AltBeacon. These beacons are mainly used for advanced data gathering, improved offline attribution with Google Ads, and out-of-store marketing.

Global Smart Beacon Market: Key Market Dynamics

• Increasing use of smartphone, and increasing need for spatial data for analyzation will drive the market during growth period
• Moreover, growing opportunities in transportation & logistics and increasing need for safety and security will create some new opportunities in next five years.
• However, restricted sensing capabilities and security concerns will hamper on the growth of the market during assessment period.

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Global Smart Beacon Market: Regional Overview

• Asia-Pacific

Asia-Pacific is expected to dominate the smart beacon market during assessment period. India, China, Japan, and South Korea will drive the market during growth period. Increasing population, use of smartphones, BFSI industry, and transportation industry will drive the smart beacon market in APAC. St. George Bank in Australia tested iBeacon trials in three of its Sydney branches. In current situation, the technology delivers a personalized experience each time a customer enters a branch by sending a welcome message and tailored information directly to their iPhone. Customers can respond to the message or cancel the interaction.

• North America

North America is expected to grow at faster rate during growth period. US and Canada will drive the smart beacon market in North America and Mexico is expected to grow at stable rate during forecast period. Presence of Leading technology inventors such as Google and Apple Inc. and presence of leading hardware and solution providers such as HPE, Cisco Systems Inc., and HID Global Corporation will add fuel in the growth of the market. Moreover, early adoption of wireless infrastructures will give opportunities to leading players to develop new technologies to grow the market.

Global Smart Beacon Market: Key Players Overview

• Kontakt.io:

The company is one of leading provider of location IoT services and solutions. portfolio of complete IoT and location solutions combine hardware, software, and cloud to bring real-time visibility, analytics, and AI to operations. The company provides smart beacon, beacon pro, tough beacon, heavy-duty beacon for various applications: tracking, navigation, interaction, security, and analysis. For various end use industries such as retail, BFSI, healthcare, hospitality, aerospace, and education.    

• Cisco Systems Inc.:

The company engages in the provision of products, software, and solutions of networking, wireless, security, cloud, data centers, and unified computing system. The company provide beacon point module, a Bluetooth Low Energy beacon module that is mounted on supported access points. With Cisco Beacon Point Module, smart client devices can receive different signal strengths from the multiple integrated beacon to improve location calculations. In 2016, the company launched beacon system which offers high accuracy. Moreover, it is a part of CMX mobile platform for providing and analyzing location data.

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