Bluetooth Beacons Market: Global Industry Analysis and Forecast (2023-2029)

Bluetooth Beacons Market was valued at US$ 19.83 Bn. in 2022. Global Bluetooth Beacons Market size is expected to grow at a CAGR of 28.3 % through the forecast period.

Bluetooth Beacons Market Overview:

Hardware transmitters known as Bluetooth Beacons are a subset of Bluetooth Low Energy (LE) devices that broadcast their identity to other adjacent portable electronic devices. Smartphones, tablets, and other gadgets may now do tasks when they are close to a beacon thanks to technology. A globally unique identifier is transmitted by Bluetooth beacons using Bluetooth low-energy proximity sensing and is received by a suitable app or operating system. A location-based action on the device, such as a push notification or social media check-in, can be triggered by the identity and a few bytes transmitted along with it. These bytes can also be used to follow consumers or locate the device physically. Small coin-cell transmitters, USB sticks, and universal Bluetooth 4.0-enabled USB dongles are just a few of the several form factors available for Bluetooth beacon transmitters. Battery-powered devices are feasible since it uses the Bluetooth 4.0 Low Energy standard to function. Depending on the manufacturer, different gadgets have different battery lives.Bluetooth-Beacons-MarketTo know about the Research Methodology :- Request Free Sample Report 2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.

Bluetooth Beacons Market Dynamics:

Increasing Awareness of iBeacon Technology: One of the main factors driving the growth of the global Bluetooth Beacon market is the increasing awareness of iBeacon technology. Other important drivers include increasing smartphone usage and rising consumer spending power, which in turn increases smartphone usage. By fostering a higher degree of consumer interaction through personalization, beacon technology has transformed the operations of its early adopters. Location-based marketing's rising prominence in the retail sector is to blame for the growth expectations. Brick-and-mortar shops have realized the value of fusing the advantages of the actual shopping environment with the digital ecology. Growing Integration into Various Industries: It is expected that during the course of the forecast period, the market will develop as a result of the growing integration of beacons into LED lighting, point of sale (POS) equipment, digital signage, and vending machines. Beacons are expected to spread into industrial applications in addition to retail ones, where they already play a significant role. Additional reasons driving the growth of the global Bluetooth Beacon and iBeacon market include technological advancements in IT solutions like the Internet of Things (IoT), low power requirements, and cheap cost. The globalization of retail and commercial sectors has been largely fueled by constant technological innovation. Increase use of Bluetooth Beacons: The market for Bluetooth beacons is also growing due to an increase in organized commerce, including hypermarkets, supermarkets, specialty shops, department stores, cash and carry stores, and discounters. This is so because contactless payment systems and offers, flash specials, and product information are all delivered to clients via Bluetooth beacons in the retail sector. Product distribution and multichannel marketing have developed into key trends in the retail industry, driving the growth of the Bluetooth beacons market. Manufacturers are now obliged to provide software for beacons. Because they enable travelers to get real-time updates on flight delays, departures, and gate and platform information, Bluetooth beacons are also in high demand at airports and ground transit hubs. Issues Related to Frequency Variance: However, users of iBeacons and Bluetooth Beacons can expect to experience difficulties due to the limited transmit-only protocol (no bidirectional communications between two devices), frequency variance (do not have the same frequency and do not transmit signals of the same power), privacy and security concerns, fluctuation in signal accuracy due to weather conditions, device power, temperature, and polling intervals, as well as issues related to frequency variance and frequency variance. Due to this, consumers are less likely to use iBeacons and Bluetooth Beacons, which in turn inhibits the growth of the Bluetooth Beacon market.

Bluetooth Beacons Market Segment Analysis:

Based on Technology, the Bluetooth Beacons Market is segmented into iBeacon, Eddystone, and Others. In 2022, the iBeacon technology ruled the market. This growth might be ascribed to the requirement for giving nearby smartphones that support the iBeacon protocol location-based notifications and information. Over the forecast period, it is expected that the widespread use of goods like iPads and iPhones would fuel the segment's growth. iBeacons also make it possible for proximity-based marketing to target customers with tailored messaging based on their past purchases. Several other protocols, like Eddystone and AltBeacon, have been introduced as a result of the increasing popularity of iBeacon. Furthermore, unlike iBeacon, these protocols' open-source foundation is expected to propel business growth over the next years. It is expected that the widespread deployment of beacons at stadiums and airports would accelerate the development of these protocols. The industry needs for proximity solutions based on Android are also expected to increase with the growth of Eddystone's support for the Android Chrome browser. With the help of crowdsourced solutions, it also makes it possible to track the position and health of beacons. Google positioned the protocol as an open-source foundation to set its beacon platform apart from Apple's iBeacon. Based on the End-Use Retail, the Bluetooth Beacons Market is segmented into Travel & tourism Healthcare, Financial institutions, and others. The retail industry's revenue share increased to over 65 % in 2022 as a result of an increase in beacon deployment for bettering the customer experience. By deploying in-store beacons to broadcast promotional messages, retailers are working to enhance the shopping experience for customers, increasing both their productivity and sales. In comparison to internet businesses, brick-and-mortar stores have a greater opportunity to increase their profit margins thanks to Bluetooth beacons.Bluetooth-Beacons-Market1 To increase conversion rates and operational efficiency, physical businesses are utilizing technologies like big data and Bluetooth Low Energy (BLE). For instance, Carrefour has set up a sizable network of iBeacons throughout all of its hypermarket chains in Romania, which tracks customer activity and informs them about the goods available from each department. Another potential industry is healthcare, which is expected to develop at the greatest rate in order to meet the rising demand for emergency response. Despite the fact that the use of beacons in healthcare is still in its infancy, there is a lot of room for growth given the pressing need to streamline patient monitoring and management procedures. Hospitals are using technology to offer specialized care based on the patient's medical history and present health situation.

Regional Insights:

The North America region dominated the market with a 39 % share in 2022. The North America region is expected to witness significant growth at a CAGR of 19 % through the forecast period. Due to the continued implementation of the technology in the hospitality and retail sectors, North America led the global market for Bluetooth beacons in 2022. In the cutthroat retail environment, giving out discounts and ramping up trade promotions are becoming standards. Retailers may now give customized deals and coupons thanks to this. For instance, customers are getting customized alerts on their cellphones informing them about tailored coupons in businesses like Walmart, Lord & Taylor, Sephora, and Urban Outfitters. Beacons were put by Alex & Ani in order to improve product positioning and shop design. Instead of sending out advertisements and coupons, the beacon informs clients about the product details. Due to the rise of organized retail formats and rising smartphone adoption, the MEA region made a substantial contribution to the industry growth in 2022. The requirement to increase retail sales is expected to aid in regional growth. Beacon deployments are furthermore expected to increase with more installations at financial institutions and airports. The objective of the report is to present a comprehensive analysis of the global Bluetooth Beacons Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Bluetooth Beacons Market dynamic, and structure by analyzing the market segments and projecting the Bluetooth Beacons Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Bluetooth Beacons Market make the report investor’s guide.

Bluetooth Beacons Market Scope: Inquire before buying

Global Bluetooth Beacons Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 19.83 Bn.
Forecast Period 2023 to 2029 CAGR: 28.3% Market Size in 2029: US $ 113.53 Bn.
Segments Covered: by Technology iBeacon Eddystone Others
by End-Use Retail Travel & tourism Healthcare Financial institutions Others

by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Bluetooth Beacons Market Key Players

1. Bluecats 2. Estimote, Inc. 3. Qualcomm Inc 4. Blesh 5. Radius Networks, Inc. 6. Beaconinside GmbH 7. Bluvision, Inc. 8. Polestar 9. Onyx Beacon Ltd 10.Quuppa Oy 11.Accent Advanced Systems 12.SLU 13.MOKOSmart 14.Zebra Technologies Corp. 15.Kartographers Technologies Pvt. Ltd. 16.Kontakt.io Frequently Asked Questions: 1] What segments are covered in the Global Bluetooth Beacons Market report? Ans. The segments covered in the Bluetooth Beacons Market report are based on Technology and End User Retail. 2] Which region is expected to hold the highest share in the Global Bluetooth Beacons Market? Ans. The North America region is expected to hold the highest share in the Bluetooth Beacons Market. 3] What is the market size of the Global Bluetooth Beacons Market by 2029? Ans. The market size of the Bluetooth Beacons Market by 2029 is expected to reach US$ 113.53 Bn. 4] What is the forecast period for the Global Bluetooth Beacons Market? Ans. The forecast period for the Bluetooth Beacons Market is 2023-2029. 5] What was the market size of the Global Bluetooth Beacons Market in 2022? Ans. The market size of the Bluetooth Beacons Market in 2022 was valued at US$ 19.83 Bn.
1. Global Bluetooth Beacons Market Size: Research Methodology 2. Global Bluetooth Beacons Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Bluetooth Beacons Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Bluetooth Beacons Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Bluetooth Beacons Market Size Segmentation 4.1. Global Bluetooth Beacons Market Size, by Technology (2022-2029) • iBeacon • Eddystone • Others 4.2. Global Bluetooth Beacons Market Size, by End-Use Retail (2022-2029) • Travel & tourism • Healthcare • Financial institutions • Others 5. North America Bluetooth Beacons Market (2022-2029) 5.1. North America Bluetooth Beacons Market Size, by Technology (2022-2029) • iBeacon • Eddystone • Others 5.2. North America Bluetooth Beacons Market Size, by End-Use Retail (2022-2029) • Travel & tourism • Healthcare • Financial institutions • Others 5.3. North America Bluetooth Beacons Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Bluetooth Beacons Market (2022-2029) 6.1. European Bluetooth Beacons Market, by Technology (2022-2029) 6.2. European Bluetooth Beacons Market, by End-Use Retail (2022-2029) 6.3. European Bluetooth Beacons Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest of Europe 7. Asia Pacific Bluetooth Beacons Market (2022-2029) 7.1. Asia Pacific Bluetooth Beacons Market, by Technology (2022-2029) 7.2. Asia Pacific Bluetooth Beacons Market, by End-Use Retail (2022-2029) 7.3. Asia Pacific Bluetooth Beacons Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest of APAC 8. Middle East and Africa Bluetooth Beacons Market (2022-2029) 8.1. Middle East and Africa Bluetooth Beacons Market, by Technology (2022-2029) 8.2. Middle East and Africa Bluetooth Beacons Market, by End-Use Retail (2022-2029) 8.3. Middle East and Africa Bluetooth Beacons Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest of ME&A 9. South America Bluetooth Beacons Market (2022-2029) 9.1. South America Bluetooth Beacons Market, by Technology (2022-2029) 9.2. South America Bluetooth Beacons Market, by End-Use Retail (2022-2029) 9.3. South America Bluetooth Beacons Market, by Country (2022-2029) • Brazil • Argentina • Rest of South America 10. Company Profile: Key players 10.1. BlueCats 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Estimote, Inc. 10.3. Qualcomm Inc. 10.4. Blesh 10.5. Radius Networks, Inc. 10.6. Beaconinside GmbH 10.7. Bluvision, Inc. 10.8. Polestar 10.9. Onyx Beacon Ltd 10.10. Accent Advanced Systems 10.11. SLU 10.12. MOKOSmart 10.13. Zebra Technologies Corp. 10.14. Kartographers Technologies Pvt. Ltd. 10.15. Kontakt.io
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