The global market for smart beacon 2020 is on track to grow from the value of USD 1,240.0 million it reached in 2018 to a valuation of USD 25,000.0 million by 2025, asserts Market Research Future (MRFR). The market has the capacity to attain a spectacular growth rate of 54% over the forecast period (2019 to 2025).
Primary Drivers and Key Restraints
A prominent trend making its way into the smart beacon market is the increasing adoption of Bluetooth smart technology, over-the-air (OTA) technology, and loop technology, backed by artificial intelligence (AI) capabilities. Smart beacons are witnessing massive demand from a variety of industries like hospitality, retail, BFSI, entertainment, transportation and logistics, and others.
Renowned companies like Google LLC and Apple, Inc. have come up with their own advanced smart beacon protocol called iBeacon and Eddystone respectively. Both protocols are used via different platforms depending on customer preference. One of the prime functionalities of a smart beacon is that there is no need for the internet for connection with the users’ smartphone. Smartphones within the proximity range of the smart beacon are able to pick up signals even if there is no internet connection. A number of manufacturers are focusing on the development of smart beacons with cloud storage capability that can help elevate the customer experience. These kinds of efforts by the manufacturers are bound to propel the market growth in the following years.
Mounting demand for smart beacon that is based on advanced Bluetooth technology such as Bluetooth 5, Bluetooth 4 and Bluetooth 5.2, across different industries like entertainment, transportation, and logistics, and others can benefit the global market. The annual report by Bluetooth SIG, Inc., issued in 2018 said that roughly 4.0 billion Bluetooth devices were manufactured across the globe, making Bluetooth technology an enabler of the global smart beacon market.
Market Synopsis
Smart beacon are used for indoor navigation. The technology uses low energy bluetooth technology to send and receive signals to nearby smart gadgets. Smart beacons are being used across retail outlets, airports, offices, transportation, and education industries. The surge in demand for smart beacons for indoor navigation is expected to be the underlining factor for the global smart beacon market to grow. Additionally, the incorporation of IoT and cloud computing technologies is also expected to surge the market growth. Smart beacons are also noted to control entertainment units, thermostats, home appliances, security systems, surveillance cameras, and fixtures via smartphones. This is likely to bolster the market expansion. Self-powered and use of small transmitters are major features of smart beacons. Hence, they assist in generating accurate and timely data. These beacons are also applied to broadcast advertising services and information for publicity and promotional events or message. These can also escalate the market.
Market Segmental Analysis
The global market of smart beacon is studied in segments. The segmental analysis of the market is done by connectivity type, beacon standard, component, and end user. By beacon standard, the market is segmented into Eddystone, iBeacon, and others. By connectivity type, the market is segmented into Wi-Fi, hybrid, and Bluetooth low energy (BLE). By component, the market is segmented into hardware, service, and software. By end user, the market is segmented into transportation & logistics, retail, hospitality, automotive, aviation, healthcare, BFSI, education, and others.
Market Key Players
The companies that are operating in the market are expected to encounter a wide range of opportunities to enhance their smartphone apps with the advent of BLE beacons. These eminent companies are extensively focusing on scrutinizing strategies of their co-contenders and analyse scopes for emerging rivals. This, in turn, is allowing them to stay ahead of game-changing innovations. The significant key players of the smart beacon market that are listed by MRFR are; Aruba-Hewlett Packard Enterprise Company (US), Estimote, Inc. (US), Cisco Systems Inc. (US), Kontakt.io (Poland), Leantegra Inc. (US), Bluvision-HID Global Company (US), Accent Advanced Systems, Gimbal, Inc. (US), SLU (Spain), Sensoro Co., Ltd (US), Swirl Networks (US), JAALEE Technology (China), Blue Cats (Australia), BlueUp Srls (Italy), Square Metrics GmbH (Germany), Radius Networks Inc. (US), Bleesk Benelux Sprl (Spain), Resono (Netherlands), and others.
More Information@ https://www.marketresearchfuture.com/reports/smart-beacon-market-8181
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: sales@marketresearchfuture.com
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