The Global Beacon Market was valued at $9.6 billion in 2023, and is projected to reach $395.9 billion by 2032, growing at a CAGR of 53% from 2024 to 2032.. Beacon is a small device that sends out radio signals to nearby mobile phones and tablets, containing a small amount of data. Mobile apps on compatible devices can listen for signals from beacons on proximity area and then trigger an experience such as sending a promotional notification, coupon, video, URL form and others via the app.
The enhanced feature of beacon represents a significant driving factor for the beacon market. Beacon technology is widely being adopted in various sectors such as retail, healthcare, travel & tourism, and education among others, owing to its features such as employee & asset monitoring, data generation, resource optimization and others. In addition, beacon has made employee and asset monitoring more accurate and easier than before. Beacons create geofences to help track item in and out of specific area or locations. Further, it also provides history of movement which can be used to study trend lines and predictive analysis. Furthermore, beacons enabled name badges enable employers to better manage their workforce, ensuring that the right employees are at the right place at the right time, thereby ascertaining optimal performance. Similarly, beacon attached to restricted area enables automatic notification when unauthorized personnel, customers, or visitors enter the restricted or dangerous work zone, which in turn enhances safety and security. Thus, these enhanced features of beacons are driving the beacon market globally.
On the other hand, upsurge in organized retailing presents a compelling opportunity for the beacon market. Rise in disposable income, improved living standard, rise of consumerism, technological impact, entry of foreign retailers, and entry of corporate sector are fueling the growth of organized retail industry. Further, with the rise in organized retail such as supermarkets, departmental stores, hypermarkets and discounters among others the demand of beacon technology is also expected to rise as beacon makes organized retail store smarter. When a customer enters proximity of the beacons fixed in retail store with smart phone, it emits radio signal to locate the customer and update the information with the associated retail app. Further, based on location and movement of the customer inside the store or nearby, retailer can send targeted message such as offer & discounts on products, available brands on customer choice, new arrivals based on previous purchasing history, and others. Thus, easier access to the products makes the shopping experience more enjoyable. Hence, upsurge of organized retail industry provides numerous growth opportunities for the beacon market.
However, growing concerns regarding privacy and security is a restraint factor for the beacon market. Beacon technology has transformed the traditional marketing process through proximity marketing where it targets potential customers with personalized advertisements based on how near a customer is close to a particular location and attracting them through various promotional notification to make purchasing decisions in the near future. Further, features such as employee & asset monitoring, data generation, resource optimization and others, are fueling the adoption of beacon solution among several industry verticals. However, data security concerns related to data access from Bluetooth networks and IoT (Internet of Things) are expected to hinder the market growth. Furthermore, the increasing threat of cybercriminals targeting organizations via IoT devices is expected to limit the growth in coming years.
The beacon market is segmented on the basis of type, technology, application and region. On the basis of type, the market is divided into iBeacon, Eddystone, AltBeacon, and others. On the basis of technology, the market is classified into BLE, Wi-Fi, ultrasound, and others. On the basis of application, the market is classified into retail, travel tourism & hospitality, healthcare, BFSI, and others.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina, and rest of Latin America), and Middle East and Africa (UAE, Saudi Arabia, Qatar, South Africa, and rest of Middle East & Africa).
The enhanced feature of beacon represents a significant driving factor for the beacon market. Beacon technology is widely being adopted in various sectors such as retail, healthcare, travel & tourism, and education among others, owing to its features such as employee & asset monitoring, data generation, resource optimization and others. In addition, beacon has made employee and asset monitoring more accurate and easier than before. Beacons create geofences to help track item in and out of specific area or locations. Further, it also provides history of movement which can be used to study trend lines and predictive analysis. Furthermore, beacons enabled name badges enable employers to better manage their workforce, ensuring that the right employees are at the right place at the right time, thereby ascertaining optimal performance. Similarly, beacon attached to restricted area enables automatic notification when unauthorized personnel, customers, or visitors enter the restricted or dangerous work zone, which in turn enhances safety and security. Thus, these enhanced features of beacons are driving the beacon market globally.
On the other hand, upsurge in organized retailing presents a compelling opportunity for the beacon market. Rise in disposable income, improved living standard, rise of consumerism, technological impact, entry of foreign retailers, and entry of corporate sector are fueling the growth of organized retail industry. Further, with the rise in organized retail such as supermarkets, departmental stores, hypermarkets and discounters among others the demand of beacon technology is also expected to rise as beacon makes organized retail store smarter. When a customer enters proximity of the beacons fixed in retail store with smart phone, it emits radio signal to locate the customer and update the information with the associated retail app. Further, based on location and movement of the customer inside the store or nearby, retailer can send targeted message such as offer & discounts on products, available brands on customer choice, new arrivals based on previous purchasing history, and others. Thus, easier access to the products makes the shopping experience more enjoyable. Hence, upsurge of organized retail industry provides numerous growth opportunities for the beacon market.
However, growing concerns regarding privacy and security is a restraint factor for the beacon market. Beacon technology has transformed the traditional marketing process through proximity marketing where it targets potential customers with personalized advertisements based on how near a customer is close to a particular location and attracting them through various promotional notification to make purchasing decisions in the near future. Further, features such as employee & asset monitoring, data generation, resource optimization and others, are fueling the adoption of beacon solution among several industry verticals. However, data security concerns related to data access from Bluetooth networks and IoT (Internet of Things) are expected to hinder the market growth. Furthermore, the increasing threat of cybercriminals targeting organizations via IoT devices is expected to limit the growth in coming years.
The beacon market is segmented on the basis of type, technology, application and region. On the basis of type, the market is divided into iBeacon, Eddystone, AltBeacon, and others. On the basis of technology, the market is classified into BLE, Wi-Fi, ultrasound, and others. On the basis of application, the market is classified into retail, travel tourism & hospitality, healthcare, BFSI, and others.
On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), Latin America (Brazil, Argentina, and rest of Latin America), and Middle East and Africa (UAE, Saudi Arabia, Qatar, South Africa, and rest of Middle East & Africa).
The key players profiled in the report include Kontakt.io, Apple Inc., Estimote Inc., BlueCats, Aruba Networks Inc., Blue Sense Networks, Glimworm Beacon, Gelo Inc., Sensorberg GmbH, Accent Advanced Systems, SLU are provided in this report. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the beacon market analysis from 2023 to 2032 to identify the prevailing beacon market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the beacon market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global beacon market trends, key players, market segments, application areas, and market growth strategies.
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- Product Life Cycle
- Market share analysis of players by products/segments
- Patient/epidemiology data at country, region, global level
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
Key Market Segments
By Technology
- Others
- BLE
- Wi-Fi
- Ultrasound
By Type
- iBeacon
- Eddystone
- AltBeacon
- Others
By Application
- Retail
- Travel tourism and hospitality
- Healthcare
- BFSI
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- UAE
- Saudi Arabia
- Qatar
- Rest of Middle East And Africa
- Kontakt.io
- Apple Inc.
- Estimote Inc.
- BLUECATS
- Hewlett Packard Enterprise Development LP
- Cisco Systems Inc.
- sensorberg gmbh
- Gelo Inc.
- Accent Advanced Systems, SLU.
- Qualcomm Incorporated.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: BEACON MARKET, BY TYPE
CHAPTER 5: BEACON MARKET, BY TECHNOLOGY
CHAPTER 6: BEACON MARKET, BY APPLICATION
CHAPTER 7: BEACON MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
Key Market Players in the Beacon Market include:- Kontakt.io
- Apple Inc.
- Estimote Inc.
- BLUECATS
- Hewlett Packard Enterprise Development LP
- Cisco Systems Inc.
- sensorberg gmbh
- Gelo Inc.
- Accent Advanced Systems
- SLU.
- Qualcomm Incorporated.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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