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The global beacon market size was valued at USD 1.36 billion in 2018 and is exhibiting a CAGR of 48.9% during the forecast period. The market is projected to reach USD 31.61 billion by 2026 and further expand to USD 231.36 billion by 2031. North America dominated the Beacon Market with a market share of 43.38% in 2018.
The global beacon market is undergoing sustained expansion as organizations increasingly deploy proximity-based technologies to enhance contextual engagement, operational intelligence, and location-aware automation. Beacon technology, enabled primarily through Bluetooth Low Energy (BLE), has evolved beyond proximity marketing to support asset tracking, indoor navigation, customer analytics, and smart infrastructure deployment across multiple industries. The market’s trajectory reflects rising digital transformation investments, greater smartphone penetration, and the growing integration of Internet of Things (IoT) ecosystems.
Market growth is reinforced by rising adoption across retail, transportation, healthcare, and smart city initiatives. Enterprises are prioritizing real-time location intelligence to improve customer experience, operational efficiency, and data-driven decision-making. Retail environments increasingly rely on beacon-enabled personalization, while logistics operators adopt beacon-based asset visibility systems to optimize movement and reduce losses. Public infrastructure projects also deploy beacons to support indoor navigation, safety monitoring, and traffic flow optimization.
Technological advancements continue to reshape the competitive landscape. Enhanced Bluetooth Low Energy protocols, improved battery efficiency, and edge analytics integration have expanded beacon functionality while reducing deployment costs. Integration with cloud platforms and application programming interfaces (APIs) allows enterprises to scale beacon ecosystems efficiently. The shift toward software-driven analytics platforms has further elevated the strategic value of beacon data beyond simple location detection.
Geographically, adoption remains strongest in North America and parts of Europe, where digital infrastructure maturity and enterprise digitization initiatives are well established. However, Asia-Pacific is emerging as a high-growth region, supported by smart city investments and expanding mobile ecosystems. As data privacy frameworks mature and interoperability improves, the global beacon market is positioned for sustained expansion through 2032.
Beacon is a wireless transmitter device that operates on low-energy Bluetooth, Wi-Fi or hybrid technology to transfer information to nearby smart devices such as smartphones, tablets and others. The Beacon generate information in the form of promotional notifications, videos, coupons, URL forms, and others. Beacon devices are enabled with “received signal strength indicator” (RSSI) estimates and generally used for applications such as mapping and location-based services. Technically, Beacon transmit multiple type of signals namely radio, ultrasonic, optical, and laser that helps to search and identify the location of the device to perform a task.
Key players in this market are emphasizing on integrating advanced communication technologies in beacon devices to meet the rising demand from various industries. At present, one of the key trends in the Beacon market includes the rising adoption of Bluetooth smart technology, loop technology, and over-the-air (OTA) technology based on AI capabilities. Beacon are experiencing rising demand from industries such as retail, hospitality, transportation and logistics, entertainment, BFSI, and others.
Companies including Apple, Inc. and Google LLC have developed their own advanced Beacon protocol namely iBeacon and Eddystone respectively. Both protocols are operated through different platforms as per the customer or user preference. One of the key functionalities of Beacon is, it does not require an internet connection to connect with the users' smartphone. Smartphones near the proximity range of Beacon can pick up signals without any internet connection. Several manufacturers are developing Beacon with cloud storage capability to enhance the customer experience.
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Further, key beacon manufacturers are focused on developing Beacon based on hybrid technology. In hybrid technology, single Beacon can be connected to multiple smartphones through connectivity platforms including Wi-Fi, Bluetooth and others simultaneously. Beacon are also used to generate graphical data and used in applications like analytics, indoor navigation, location-based services, asset tracking, and others. The government in developing countries including China, Japan, India and others are focusing on installing smart Beacon at airports, bus stands, and railway stations among others. For instance, in October 2018, high-precision indoor positioning Beacon were installed at Narita Airport, Tokyo, Japan by NTT Corp and GiPStech. Moreover, with the introduction of several government initiatives like smart city projects, key players in the market are developing IPIN systems for establishing connection between Beacon and connectivity modules, across public places including airports and commercial centers.
Further, several key manufacturers are integrating cloud platforms and related technologies with Beacon to deliver advanced solutions to their customers. With the development of Beacon based on cloud platform capabilities, users would be able to track, navigate, interact, secure, and analyze data on their smartphones.
“Rising Integration of Advanced Communication Technologies are Leading Towards the Adoption of Beacon”
The rising adoption of advanced communication technologies such as Bluetooth, Wi-Fi, NFC (near-field communication), RFID (radio-frequency identification) and others along with rising popularity of IoT technology are few of the key drivers promoting the beacon market growth.
Also, rising demand for Beacon based on advanced Bluetooth technology including Bluetooth 5.2, Bluetooth 5, and Bluetooth 4, from various industries such as transportation and logistics, entertainment and others is expected to boost the adoption of Beacon. According to an annual report of Bluetooth SIG, Inc., in 2018, around 4.0 billion Bluetooth devices were manufactured. This has made Bluetooth technology a global enabler of the Beacon market. With the increasing market popularity of Bluetooth technology-enabled devices, the market for Beacon is expected to grow with a substantial CAGR during the forecast period.
“Increasing Government Initiatives in Ongoing Smart City Projects to Boost the Market”
Under smart city projects by the government, Beacon are being deployed in public zones for providing location-based services, city promotions, generic surveys, and other marketing activities. Additionally, in smart city projects, Beacon are used to enhance the security system and infrastructure assets by increasing interaction with the users in its proximity zone. With the growth of various smart city projects across the world, the Beacon market is projected to experience growing deployment during the forecast period. For instance, during 2015-2020, the government of China is focusing on investing in the development of around 500 countries under the smart city project “PATH”. Similarly, during 2016-2017, the Indian government initiated a “Smart City Mission” for building 100 Smart Cities enabled with advanced devices and related technologies.
The global beacon market is primarily driven by the rising demand for real-time location intelligence across commercial and public environments. Retailers increasingly deploy beacon technology to enable proximity-based marketing, in-store navigation, and personalized consumer engagement, improving conversion rates and dwell time. Growing adoption of smart devices and mobile applications further accelerates beacon utilization, as smartphones act as core interaction points within beacon-enabled ecosystems.
In parallel, smart city initiatives are expanding rapidly, particularly across urban transportation, public safety, and infrastructure monitoring. Beacons support wayfinding, crowd management, and asset tracking within transit hubs, airports, and municipal facilities. The integration of beacon systems with Internet of Things (IoT) frameworks allows municipalities to collect contextual data that enhances operational efficiency and urban planning accuracy.
Enterprise digital transformation also contributes significantly. Warehousing, logistics, and healthcare organizations deploy beacon technology to track assets, improve workflow visibility, and reduce operational bottlenecks. As data-driven decision-making becomes a strategic priority, demand for precise indoor positioning systems continues to strengthen. Combined with declining hardware costs and improving interoperability standards, these factors collectively sustain long-term growth across the beacon market.
Despite strong adoption momentum, the beacon market faces several structural and operational constraints. Data privacy and security concerns remain prominent, particularly as beacon systems collect location-based behavioral information. Regulatory frameworks such as data protection and consent requirements increase compliance complexity for enterprises deploying large-scale beacon networks.
Technical limitations also restrict broader adoption. Signal interference in dense environments, limited accuracy in certain indoor layouts, and maintenance challenges related to battery life can affect system reliability. These factors increase total cost of ownership, especially for large facilities requiring thousands of deployed devices.
Interoperability issues further limit scalability. Beacon ecosystems often rely on proprietary protocols or platform-specific integrations, creating fragmentation across vendors. This complicates multi-vendor deployments and slows standardization efforts. Additionally, organizations lacking in-house technical expertise may struggle with deployment planning, analytics integration, and long-term system optimization.
Budget constraints, particularly among small and medium-sized enterprises, also limit adoption. While hardware costs have declined, expenses related to system integration, data analytics, and ongoing maintenance remain significant. Together, these barriers continue to moderate adoption speed in price-sensitive and highly regulated sectors.
The beacon market is undergoing structural evolution driven by advancements in connectivity, analytics, and edge computing. A notable trend is the integration of beacon data with artificial intelligence and machine learning platforms, enabling predictive analytics and behavioral insights. This shift allows organizations to move from reactive to proactive engagement strategies.
Another emerging trend involves the convergence of beacon technology with Internet of Things ecosystems. Beacons increasingly function as data nodes within larger sensor networks, supporting use cases such as smart retail shelves, intelligent transport hubs, and automated building management systems. The adoption of Bluetooth Low Energy (BLE) advancements has also improved signal accuracy, energy efficiency, and device lifespan.
Cloud-based beacon management platforms are gaining traction, offering centralized monitoring, remote configuration, and real-time analytics. These platforms reduce operational complexity and support scalable deployments across geographically dispersed locations. Additionally, the market is witnessing growing interest in privacy-centric designs, including anonymized data processing and on-device analytics, aligning with evolving regulatory expectations.
Cross-industry adoption continues to broaden, with healthcare, education, and manufacturing increasingly integrating beacon-based solutions to enhance operational visibility and safety compliance.
Significant growth opportunities exist as organizations seek to bridge physical and digital experiences. Retailers are expanding investments in personalized engagement technologies, where beacons enable real-time promotions, indoor navigation, and customer behavior analytics. As omnichannel strategies mature, beacon-enabled insights offer measurable value in optimizing customer journeys.
Smart infrastructure development presents another major opportunity. Governments and municipalities are investing in smart city programs that rely on location-aware technologies to manage transportation, energy usage, and public safety. Beacons play a foundational role in enabling these systems at relatively low cost.
Healthcare environments also present strong growth potential. Hospitals and clinics are adopting beacon technology for asset tracking, patient flow optimization, and staff coordination, improving operational efficiency and patient outcomes. Similarly, industrial facilities are leveraging beacon-based tracking for safety monitoring and workflow optimization.
Advancements in interoperability standards and cloud-native platforms are expected to lower adoption barriers, opening opportunities for small and mid-sized enterprises. As analytics capabilities mature and integration becomes simpler, the beacon market is positioned to expand into new verticals, supporting long-term revenue growth and ecosystem diversification.
“Rising Demand for Location-based Services Anticipated to Boost the Market Growth”
Based on component, the market is classified into hardware and platform/software development kit (SDK).
Among them, the hardware segment is expected to hold a dominant beacon market share during the forecast period. Beacon hardware devices can be easily installed across any location with minimum complexity. The demand for the Beacon is rising primarily from industries such as retail, transportation and logistics, and others, owing to the increasing emphasis on location-based applications and services. Key players in the Beacon market are focusing on adopting hybrid communication technologies to integrate with Beacon.
The beacon market is fundamentally shaped by the interplay between physical hardware components and software-driven intelligence layers. Hardware, primarily comprising Bluetooth Low Energy (BLE) beacons, anchors overall system performance. Continuous advancements in miniaturization, battery efficiency, and signal stability have expanded deployment feasibility across dense indoor and outdoor environments. Manufacturers are focusing on extended battery life, ruggedized enclosures, and flexible mounting options to support retail, industrial, and public infrastructure applications.
These advanced Beacon are prominently developed for location-based services and are being installed in public places like shopping complexes, airports, amusement parks, trade fairs, stadiums, events, conferences, and others. The factor mentioned above is likely to help this segment earn high beacon market share in the forecast period as well.
Whereas, the platform/software development kit (SDK) segment is expected to grow at a stagnant CAGR during the forecast period. Key companies in this market are providing platforms or SDKs to the users to customize the software according to their requirements. Both the hardware and platform/SDKs are necessary to setup beacon system. Providers are offering both components as well as standalone software and hardware products to the end-users.
On the software side, platform and software development kits (SDKs) play a decisive role in value creation. These layers enable data processing, device management, analytics, and integration with enterprise systems. Cloud-based beacon management platforms increasingly dominate adoption, offering centralized dashboards, real-time monitoring, and scalable deployment control. SDKs allow enterprises to customize applications for navigation, analytics, and engagement without building systems from scratch. As organizations prioritize data-driven operations, the software component is capturing a larger share of total solution value, particularly in analytics-led deployments.
“Increasing Popularity of Upcoming Bluetooth 5.0 and Bluetooth 5.2 Technology would help to Fuel the Demand for Beacon”
Based on connectivity type, the Beacon market is categorized into Bluetooth low energy (BLE), Wi-Fi, hybrid and others (NFC or RFID). Out of these, the Bluetooth low energy (BLE) segment is projected to grow at a healthy CAGR during the forecast period. One of the most energy-efficient technologies for Beacon is Bluetooth, due to which the BLE segment is majorly contributing to the Beacon market growth.
Bluetooth Low Energy remains the dominant connectivity protocol within the beacon ecosystem due to its low power consumption, cost efficiency, and widespread smartphone compatibility. BLE-based beacons support long operational lifecycles, making them suitable for large-scale deployments in retail, healthcare, and transportation environments. Continuous improvements in BLE standards have enhanced accuracy and signal stability, strengthening its position as the industry benchmark.
Additionally, Bluetooth has a wide range of around 80 to 100 meters and provides a stable and established ecosystem for Beacon connectivity due to which BLE Beacon are broadly adopted among various industries. BLE Beacon are deployed in a wide range of indoor applications. In recent years, Bluetooth technology has transformed intensely, enabling the maturation and growth of the Beacon industry. With the help of the emerging IoT standards, Bluetooth is rapidly replacing ongoing technologies and strengthening beacon solutions. Bluetooth is also being used in combination with Wi-Fi as a hybrid communication technology in beacon devices. The increasing adoption of Bluetooth 5.0 and 5.2, would help to attract high Beacon market revenue during the forecast period.
Wi-Fi-based beacon systems are gaining selective adoption in enterprise environments where existing wireless infrastructure can be leveraged. These systems offer broader coverage and deeper integration with enterprise networks, though they typically require higher power consumption. Hybrid solutions, combining BLE with Wi-Fi or other radio-frequency technologies, are increasingly adopted in complex facilities requiring high precision and redundancy. Emerging connectivity models also explore ultra-wideband and ultra-narrowband capabilities, expanding use cases in high-accuracy location tracking and industrial automation.
“Growing Smart City Projects Expected to increase the deployment of Outdoor Beacon”
Based on deployment, the market is segmented into indoor and outdoor.
The outdoor segment is expected to hold a dominant beacon market share during the forecast period. This is owing to the rising demand for Beacon in ongoing smart city projects across various countries such as China, India, U.K., and others. According to the Consumer Technology Association, the global investment for the development of smart city projects is expected to reach a value of around USD 34.35 billion, by the end of 2020.
Outdoor deployments are expanding steadily, particularly within smart cities, transportation hubs, and large-scale venues. Outdoor beacon networks support applications such as parking management, traffic monitoring, public safety alerts, and tourist navigation. Advances in weather-resistant hardware and improved signal reliability have expanded the viability of outdoor installations. As municipalities invest in connected infrastructure, outdoor beacon deployments are expected to accelerate, complementing broader smart city initiatives.
Similarly, Beacon are highly preferred to be deployed in public places to provide enhanced location-based services, generic public surveys, city promotions, and other marketing activities. With the rising investment for smart city projects in developed countries such as U.K., Germany and developing countries, the demand for the Beacon is also expected to rise with a decent growth rate.
Indoor deployment remains the dominant application segment, driven by retail stores, airports, hospitals, and corporate facilities seeking location intelligence within enclosed environments. Indoor beacons enable navigation assistance, space optimization, asset tracking, and proximity-based engagement. Their adoption continues to grow as organizations prioritize data-driven spatial insights and customer experience optimization.
Further, Beacon based on the indoor environment are expected to grow with a steady CAGR during the forecast period, owing to the development of the home automation market and related technologies. Beacon are deployed in a residential environment to provide information related to buildings, society, parking, and other household activities.
“Rising Demand from Retail, Transportation & Logistics Industries aid to Drive the Beacon market”
Based on end-use, the market is bifurcated into the residential and commercial segments. The residential segment is expected to grow with a gradual CAGR during the forecast period. This is owing to the limited availability of the products in the market for residential applications.
Residential applications of beacon technology are emerging alongside the growth of smart homes and connected living environments. Use cases include home automation, energy optimization, and personalized user experiences. While adoption remains nascent compared to commercial settings, increased consumer awareness and integration with smart home ecosystems are driving gradual uptake.
On the other hand, the commercial segment is expected to dominate the market during the forecast period. The rising development of IoT standards in commercial centers and offices is projected to increase the deployment of Beacon during the forecast period. Under the commercial segment, the market is sub-segmented into retail, hospitality, entertainment, healthcare, banking, financial services, insurance (BFSI), transportation & logistics, and others (education, etc.). The retail industry is expected to dominate the market during the forecast period. This is owing to the rising number of digitalized offline stores including apparel, footwear, food & drinks, electronics, sports equipment and others. Additionally, indoor Beacon are also anticipated to see strong demand from the retail industry. This demand is primarily due to the growing emphasis of enterprises on in-store analytics to enhance the customer experience and engagement.
Commercial applications account for the majority of market demand. Retail remains the most prominent sector, leveraging beacons for customer engagement, footfall analytics, and in-store navigation. In healthcare, beacons support patient tracking, asset management, and operational efficiency. Transportation and logistics companies use beacon-enabled systems to monitor assets, manage fleets, and improve safety. Corporate offices and educational institutions also adopt beacon solutions to optimize space utilization and enhance user experiences.
Collectively, these segmentation trends highlight a market transitioning from experimental deployments to scalable, enterprise-grade implementations. As interoperability improves and analytics capabilities mature, beacon technology is becoming an integral component of connected infrastructure across industries.
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Global retail players are deploying Beacon in their retail stores to increase daily footfall and generate high Beacon market revenue. For instance, in November 2013, Beacon were first deployed in the United States, by Titan in their Manhattan retail stores, for maintenance services. Furthermore, Beacon are also being deployed in offline retail stores to offer customers with in-store notifications about product reviews, ongoing offers, and customized deals.
Furthermore, companies operating in the Beacon market are focused on forming a strategic partnership with other players to cater to the demand for customized Beacon from retail stores. For instance, in April 2018, Cassia Networks, a Bluetooth IoT solution provider, completed a partnership with Kontakt.io. With this partnership Cassia Networks started to provide enhanced Beacon offerings based on Bluetooth technology to its customers.
The beacon market research report covers information on different regional segments including North America, Asia Pacific, Europe, Middle East & Africa, and Latin America.
Among all the regions, North America is expected to hold the highest market share during the forecast period. In 2018, North America generated a prominent revenue in the market. This is attributed to the strong presence of key players in the region as well as the rising adoption of core communication technologies such as Bluetooth, NFC, Wi-Fi, and ongoing IoT (internet of things) technology.
North America remains the most mature and technologically advanced beacon market, driven by early adoption of location-based services and strong digital infrastructure. Retail, healthcare, and transportation sectors lead deployments, supported by high smartphone penetration and advanced analytics capabilities. Continuous investments in smart infrastructure and data-driven customer engagement sustain regional momentum.
Other key drivers for this market include increasing investment by North American countries and rising demand for proximity tools in the retail and public sector. For instance, during 2016-2018, in the U.S., various large offline retailers namely Walmart, Target, and Macy’s invested extensively to deploy Beacon based on proximity sensors in their business stores. This deployment of Beacon will help them boost their location-based marketing strategies and provide a customized shopping experience to their customers.
United States Beacon Market
The United States dominates regional demand, supported by large-scale retail networks, airports, and smart city initiatives. Enterprises increasingly deploy beacon solutions to optimize customer journeys, enhance in-store analytics, and improve operational visibility. Strong vendor presence and ongoing investments in Internet of Things (IoT) ecosystems reinforce sustained adoption.
North America Beacon market Size, 2018 (USD Billion )
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Whereas, Asia Pacific (APAC) region is expected to grow with the highest CAGR during the forecast period. This owing to the increasing demand for location-based services from industries including transportation & logistics, entertainment and education & research sectors. To cater to the increasing demand for Beacon from these industries, several companies in APAC are focusing on developing and introducing advanced beacon devices.
The Beacon market growth in countries like India, China and Korea are expected to expand with an exceptional CAGR during the forecast period owing to the rising investments by government and foreign investors in various smart city projects. Furthermore, with the rise in customer expenditure, offline retailers are also focusing on deploying outdoor Beacon in their stores to gain more customers.
Asia-Pacific represents the fastest-growing regional market, supported by large-scale urbanization, smart city investments, and rising smartphone adoption. Governments and enterprises actively invest in beacon-enabled solutions to improve urban mobility, retail engagement, and infrastructure management.
Japan Beacon Market
Japan’s advanced digital ecosystem drives strong adoption of beacon technologies across transportation, retail, and public services. Precision-focused deployments support indoor navigation, asset monitoring, and customer experience enhancement in dense urban environments.
China Beacon Market
China’s market growth is driven by extensive smart city projects and large-scale retail digitalization. Domestic technology providers play a central role, integrating beacon systems with artificial intelligence and cloud platforms to enable data-rich urban applications.
Further, according to various secondary sources, in India, customer expenditure is expected to reach a market value of USD 3,600 billion by the end of 2020. Similarly, in India, Kochi’s Lulu International mall deployed advanced technologies including digital Beacon, automatic number plate recognition (ANPR) and geo-fencing technology to actively engage with mall visitors and notify them about the latest promotional activities and deals available nearby.
Europe exhibits steady growth supported by digital transformation initiatives and regulatory focus on data transparency. Retail modernization and public-sector digitization programs encourage beacon integration. Adoption is particularly visible in transportation hubs and cultural venues seeking improved visitor engagement and operational efficiency.
Germany Beacon Market
Germany’s beacon market benefits from its strong industrial base and emphasis on smart manufacturing. Industrial facilities deploy beacon systems for asset tracking, workforce safety, and logistics optimization. Integration with Industry 4.0 frameworks further accelerates adoption across manufacturing clusters.
United Kingdom Beacon Market
The United Kingdom shows consistent uptake across retail, tourism, and public infrastructure. Retailers increasingly use beacon-enabled analytics to personalize customer journeys, while public institutions deploy beacons to enhance accessibility and navigation within large facilities.
In Europe, the market size is significantly compelled by increasing strategic activities by major companies in countries such as Germany, U.K., Spain, France, Italy, and others. The growth in this region is the result of the rising demand for Beacon from the retail industry. Key offline retailers in this region are focused on deploying advanced Beacon to increase their productivity. For instance, in May 2017, Tesco PLC, U.K. based offline retail company, deployed Beacon in all of their Tesco Lotus stores.
Latin America shows steady adoption, particularly in retail and transportation sectors. Growing smartphone penetration and investments in digital infrastructure are expanding opportunities, though deployment remains uneven across countries.
The Middle East and Africa region is witnessing gradual adoption, led by smart city initiatives in Gulf countries. Beacons support smart infrastructure, tourism management, and public safety applications, with long-term growth tied to urban development programs.
“Key Players including Kontakt.io, Estimote Inc., and Others are Targeting on Enhancement of their Product Portfolio”
Kontakt.io emerged as one of the major player holding the prominent Beacon market revenue, in 2018. Under their wide product portfolio, the company offers technologies that include Bluetooth low energy (BLE) tags and proprietary Bluetooth enabled Beacon, sensors, internet of things (IoT) platform and others. The company also offers Beacon software that aids users in developing applications including outdoor and indoor navigation, retail selection and payments and healthcare monitoring. Kontakt.io is currently focused on the development of the product based on location data insights.
The company sells Beacon and related technologies to its customers to offer services including process and asset tracking and location and contextual aware applications. Kontakt.io is currently planning on investment and development of location-based services. The company offers Beacon fully configurable with API (auto-import to web panel) and is compatible with cloud platform. The company invested around USD 5.0 million for the development of Beacon market globally. In February 2019, Kontakt.io launched “Simon”, sensor analytics and location-based software suite. This software suite is developed for safety and efficiency applications in operational environments.
The beacon market features a mix of global technology providers, specialized hardware manufacturers, and software-focused solution developers. Leading vendors differentiate through hardware reliability, software intelligence, and ecosystem integration. Established players invest heavily in research and development to improve signal accuracy, energy efficiency, and platform interoperability.
Competitive strategies increasingly center on ecosystem partnerships, enabling seamless integration with mobile applications, analytics platforms, and cloud infrastructure. Vendors are expanding portfolios through acquisitions and strategic alliances to address diverse industry requirements. Smaller innovators focus on niche applications, such as high-precision indoor navigation or sector-specific analytics, to differentiate from larger competitors.
Price competitiveness, scalability, and ease of deployment remain key differentiators. As customers demand end-to-end solutions, vendors offering bundled hardware, software, and analytics gain a strategic advantage. The competitive landscape continues to evolve as technological convergence reshapes the beacon ecosystem.
The report presents a comprehensive assessment of the global Beacon market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per market segments, helping our readers to get a comprehensive overview of the global market. The study also covers volume/shipment information (million units) for beacon devices at global and regional level.
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ATTRIBUTE |
DETAILS |
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Study Period |
2015 - 2026 |
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Base Year |
2018 |
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Forecast Period |
2019 - 2026 |
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Historical Period |
2015 - 2017 |
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Unit |
Value (USD billion) |
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Segmentation |
By Component
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By Connectivity Type
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By Deployment
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By End-use
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By Region
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Fortune Business Insights says that the Beacon market was USD 1.36 billion in 2018
By 2026, the global market is expected to reach USD 31.61 billion
A remarkable CAGR of 48.9%is observed in the Beacon in the forecast period (2019-2026)
North America is anticipated to be the dominant region for the global Beacon market and was valued at USD 0.59 billion in 2018
Within the end-use segment, retail is expected to be the leading segment in the Beacon market during the forecast period
Rising adoption of core communication technologies and increasing initiatives by government in ongoing smart city projects are few key drivers of the Beacon market
Estimote Inc., and Kontakt.io, are some of the top Beacon market manufacturers, as they offer a wide range of beacon solutions that helps to enhance the market growth
Among the connectivity type, the hybrid connectivity segment is expected to grow significantly at the highest CAGR owing to high efficiency, and low operational cost
The major players hold an approximate of 40% to 47% of this market share owing to their strong product portfolio and install base of large number of beacon devices
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