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Beacon Market to be Worth USD 31.61 Billion by 2026; Increasing Adoption of Core Communication Technologies Such as Wi-Fi, Bluetooth, NFC Will Help Market Gain Impetus

January 31, 2020 | Information & Technology

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:


https://www.fortunebusinessinsights.com/industry-reports/beacon-market-100142


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:



  • April 2018 –  A Bluetooth IoT solution provider, namely Cassia Networks, entered into a partnership with Kontakt.io to provide Beacon based Bluetooth technology to their consumers.

  • January 2017 –  Beacon technology by Aruba Networks, Inc. was launched in Atlanta and Georgia, U.S. Main objective is to provide beacon navigation facilities such as Wi-Fi technology and NFC for target locations.


Significant players in the Beacon Market are as follows:



  • Glimworm Beacon

  • BlueCats

  • Accent Advanced Systems, SLU.

  • Sensorberg GmbH

  • Gelo, Inc.

  • Blue Sense Networks

  • Kontakt.io

  • Estimote, Inc.

  • Aruba Networks, Inc.


Further Report Findings



  • North America is holding a dominant beacon market share owing to the strong presence of significant players in the region, coupled with the rise in the adoption of core technologies such as NFC, Wi-Fi, Bluetooth, and others.

  • Rise in strategic activities by companies situated in countries such as Italy, France, Spain, and Germany will help Europe account for significant beacon market share in the forthcoming years

  • With respect to segmentation by end use, the residential segment earned a dominant share, attributed to the limited availability of IoT standards in offices and commercial centers.

  • In 2018, the transportation and logistics segment earned a 19.9% market share. However, the retail segment is likely to grow at a faster pace in the coming years on account of the increasing daily footfall as a result of in-store notifications about customized deals, ongoing offers, and product reviews.


 The global Beacon Market is categorized in the following manner:














































 ATTRIBUTE



 DETAILS



Study Period



  2015 - 2026



Base Year



  2018



Forecast Period



  2019 - 2026



Historical Period



  2015 - 2017



Unit



  Value (USD billion)



Segmentation



By Component



  • Hardware (Volume (Million units)

  • Platform / Software Development Kit (SDK)



By Connectivity Type



  • Bluetooth Low Energy (BLE)

  • Wi-Fi

  • Hybrid

  • Other (NFC/RFID)



By Deployment



  • Indoor

  • Outdoor



By End-use



  • Residential

  • Commercial


    • Retail

    • Hospitality

    • Entertainment

    • Healthcare

    • Banking, Financial Services, Insurance (BFSI)

    • Transportation & Logistics

    • Other (Education, etc.)




By Region



  • North America (the U.S. and Canada)

  • Europe (the U.K., Germany, France, Italy, Spain and the Rest of Europe)

  • Asia Pacific (Japan, China, India, Southeast Asia, and the Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC, and the Rest of Middle East & Africa)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)



 

Beacon Market
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