NEW YORK, May 15, 2020 (GLOBE NEWSWIRE) — The global beacon technology market was valued at USD 1.7 billion in 2019 and is expected to reach USD 14.7 billion by 2025, growing at a CAGR of 44.0% during 2020-2025.
Due to growing competition among e-commerce giants such as Amazon and various other merchants all across the globe, retailers’ are in search of a technology that offers techniques for grabbing customer attention as well as providing them a customized buying experience is growing every other day. However, the development of beacon technology has allowed vendors to obtain a substantial amount of insights into consumer behavior. Hence, the market for beacon technology is now growing and is expected to foresee significant development in the coming years.
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The Wi-Fi technology segment is expected to generate highest revenue by 2025 in the global beacon technology market
On the basis of technology, the market is segmented into Wi-Fi, Combined Technologies, BLE, Ultrasound and others. The Wi-Fi technology segment is likely to lead the beacon technology sector by 2025. This is mainly because of the widespread use of Wi-Fi hotspots in hotels, stadiums and restaurants to offer internet access. This technology is well equipped in detecting neighboring Wi-Fi enabled systems which is quite affordable owing to which smart proximity sensors are utilizing underlying technology for supporting the communication procedure. Moreover, this technology can also be utilized for navigational applications at site and along with beacons that can help in communication processes.
Geography Insight
Geographically, North America is the largest beacon technology market and is expected to generate largest revenue by 2025. This is owing to the several smart city initiatives undertaken on a large-scale in this region along with the rising usage of BLE technology in various sectors.
The Asia-Pacific region is expected to witness the fastest growth in the global beacon technology market during the forecast period. This growth is majorly due to the growing disposable incomes in this region along with many initiatives taken by the people towards smart homes and smart cities.
Competitive Insight
Some of the key players operating in the global beacon technology market are Kontakt.io, Apple Inc., Glimworm Beacons, Google Inc., Madison Beacons, Qualcomm Inc., RECO, blueSense Networks, Gimbal, Swirl, Estimote Inc., BlueCat’s, Onyx Beacon, Beaconinside, Cisco Systems Inc., and Accent Systems.
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Global Beacon Technology Market Coverage
Deployment Model Insight and Forecast 2015 – 2025
Platform Insight and Forecast 2015 – 2025
- iBeacon
- AltBeacon
- Eddystone
Application Insight and Forecast 2015 – 2025
- Travel, Tourism and Hospitality
- Real-Estate
- Retail
- Healthcare
- Education
- Financial Institutions
Technology Insight and Forecast 2015 – 2025
- Wi-Fi
- Combined Technologies
- BLE
- Ultrasound
Geographical Segmentation
Beacon Technology Market by Region
North America
- By Deployment Model
- By Platform
- By Application
- By Technology
- By Country – U.S., Canada, and Mexico
Europe
- By Deployment Model
- By Platform
- By Application
- By Technology
- By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe
Asia-Pacific (APAC)
- By Deployment Model
- By Platform
- By Application
- By Technology
- By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific
Rest of the World (RoW)
- By Deployment Model
- By Platform
- By Application
- By Technology
- By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
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