"We Envision Growth Strategies Most Suited
to Your Business"
The global Beacon Market size is anticipated to reach USD 31.61 billion by 2026, owing to the rise in the adoption of advanced technologies for communication such as Wi-Fi, RFID (radio-frequency identification), and others. As per a Fortune Business Insights™ report titled, “Beacon Market Size, Share & Industry Analysis, By Component (Hardware and Platform / Software Development Kit (SDK)), By Connectivity Type (Bluetooth Low Energy (BLE), Wi-Fi, Hybrid and Others), By Deployment (Indoor and Outdoor), By End-use (Residential and Commercial) and Regional Forecast, 2019-2026,” the market was worth USD 1.36 billion in 2018. Furthermore, the market is expected to exhibit a CAGR of 48.9% between 2019 and 2026.
Advent of Bluetooth Connectivity in Smart Devices to Promote Beacon Market
Mark Powell, the executive director of Bluetooth SIG, Inc., stated the advent of Bluetooth technology had eased mesh networking. Bluetooth is now dignified as one of the industrial-grade connectivity solutions. In 2018, about 4 billion smart devices were shipped with Bluetooth technology installed in them. Bluetooth installed in Beacon will work as a wireless communication medium, and this will further drive the beacon market growth in the years to come.
On the launch of Bluetooth 5, Powell also claimed that Bluetooth has evolved continuously over the last two decades and is now seen to create new markets and drive innovation by acting as a connection for wearable devices, tracking assets, wireless audio, and automated buildings. Powell declares Bluetooth to be the new innovative force creating new commercial, industrial, and consumer markets.
To get a detailed report summary and research scope of this market, click here:
Ongoing Initiatives by Governments to Develop Smart Cities Will Help Promote Market Growth
The government of India launched 100 smart city projects wherein Beacon will be installed in public zones to provide city promotions, location-based services, generic surveys, and other marketing activities. Beacon installed in smart city projects will help to enhance the overall infrastructure and security system by widening the interaction with users in its proximity range. The deployment of beacon technology in smart cities is anticipated to help increase the overall beacon market revenue in the forecast period.
Kontakt.lo is Holding a Prominent Position with Bluetooth Low Energy (BLE) Tags
Currently, Kontakt.io has emerged as the dominant beacon manufacturer on the account of wide product portfolio that the company offers. These included proprietary Bluetooth enabled sensors, Beacon, internet of things (IoT) platform, among others. The company also utilizes Bluetooth Low Energy (BLE) tags and is anticipated to continue further to dominate the market in the forecast period. Other players operating in the beacon market are striving for developing technologies that will be applicable in asset tracking, location tracking, and aware contextual applications for both indoor and outdoor applications to make their mark in the world market.
Some of the key industry developments in the Beacon Market include:
Significant players in the Beacon Market are as follows:
Further Report Findings
The global Beacon Market is categorized in the following manner:
2015 - 2026
2019 - 2026
2015 - 2017
Value (USD billion)
By Connectivity Type