The global beacon market report provides an in-depth analysis of market size, share, and growth rates across different segments at both country and regional levels. It also offers valuable qualitative insights, emphasizing key findings on market dynamics and investment opportunities.
A report by Allied Market Research projects the industry to achieve a
remarkable CAGR of 53%, reaching a market value of $395.9 billion by 2032. The
study utilizes Porter’s Five Forces model and PESTEL analysis to examine the
competitive landscape of the beacon market. These analytical frameworks are assessed
based on their CAGR and market share.
Advancements in BLE and immersive AR experiences transforming beacon
technology
The latest trends in beacon technology focus on enhancing user
engagement, improving location-based services, and expanding applications
across industries. The advancements in Bluetooth Low Energy (BLE) technology have
offered improved battery life, accuracy, and range. These advanced beacons are
now more energy-efficient and capable of supporting longer communication
distances, making them ideal for various large-scale deployments.
Moreover, the demand for touchless interactions, fueled by the
pandemic, has led to the rise of beacons in areas including retail,
hospitality, and transportation. They enable contactless payments, digital
menus, and personalized notifications, enhancing customer safety and
convenience. Furthermore, beacons are now more widely used for indoor
navigation in places such as airports, shopping malls, and hospitals. These
systems help users find their way and provide real-time location updates,
significantly improving the user experience.
Additionally, beacons are increasingly being paired with AR
technologies to deliver interactive experiences in physical spaces. This
combination allows users to access contextual information or immersive content
triggered by their proximity to beacon-equipped areas.
Prevailing factors boosting the growth of the market
The beacon industry has witnessed significant growth due to the
increasing adoption of advanced communication technology. Nowadays, there is a
notable rise in the number of smartphones, IoT gadgets, and wearable devices.
These devices need a robust network to exchange data seamlessly. Beacons provide
a strong network to transmit signals to nearby devices, thereby enabling
personalized notifications, contextual interactions, and location-based
services. Furthermore, the continuous integration of IoT devices across
industries has created numerous opportunities in the industry. Businesses can make automated lighting and temperature adjustments by incorporating
beacons into IoT devices. Smart cities are implementing beacon-enabled IoT
devices to monitor traffic flow, identify parking availability, enhance urban
mobility, and boost sustainability. However, data security concerns associated
with the proliferation of beacon technology across various industries restrain
the industry growth to some extent.
Competitive analysis
The report also highlights the industry's top companies, offering a
comprehensive overview of their profiles, market share, product offerings,
business strategies, and revenue contributions. The study details the
strategies utilized by leading players, including partnerships, collaborations,
expansions, joint ventures, and other tactics, enabling them to strengthen
their market position. The key companies profiled in the study include:
- Cisco Systems Inc.
- Hewlett Packard Enterprise Development LP
- Kontakt.io
- Sensorberg GmbH
- SLU.
- Estimote Inc.
- Accent Advanced Systems
- BLUECATS
- Apple Inc.
- Gelo Inc.
- Qualcomm Incorporated.
In summary, the AMR report offers valuable insights into various
industry segments and identifies key investment opportunities within the global beacon market. The data and statistics provided in the study help businesses
expand their global presence and strengthen their position in the industry.
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