Smart Beacon Market: Global Industry Analysis and Forecasts (2021-2027) Growth, Trends, Dynamics

Smart Beacon Market was valued at US$ 3.28 Bn. in 2020 and is expected to reach US$ 22.8 Bn. by 2027, at a CAGR of 31.9% during a forecast period.

Smart Beacon Market Overview:

Smart Beacon Market was valued at US$ 3.28 Bn. in 2020. A smart beacon is a proximity device that uses Bluetooth low energy proximity sensing technology to send a signal to a compatible application or operating system. When a smartphone or tablet enters the beacon's range, it detects the device's physical location and tracks the consumer, triggering allocation-based notifications on the device. Smart beacons, for example, are utilized in brick-and-mortar retail locations for mobile commerce to notify customers about special offers. The goal is to improve the shopping experience for potential customers, provide better services, and contribute to a possible rise in sales. Smart beacon technology has proven to be one of the most inventive and ground-breaking technologies in recent history. Smart Beacon Market To know about the Research Methodology:- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Smart Beacon Market Dynamics:

The increase in digitization and the increasing popularity of smart devices are the key factors that are expected to drive the growth of the global market during the forecast period. The global smart beacon market is expected to be driven by rising demand for and use of smart devices, as well as the concept of smart cities. This growth is expected to be accelerated by rising internet penetration and global customer spending. Also, the demand for smart beacons in the transportation and logistics industry continues to grow. Due to their real-time tracking and other functions, it is expected to be another factor that may further promote the growth of the target market during the forecast period. Also, the introduction of innovative products such as Eddystone by manufacturers and technological advancements are some of the other factors that are expected to promote the growth of the global market during the forecast period. Additionally, rising globalization and increased demand from the automobile industry may emerge as key market growth drivers. Growing emphasis on business intelligence to achieve a competitive edge, increased usage of spatial data in analytics, rising need for smart beacons for indoor navigation, and extensive industrialization may exacerbate market value. Increasing spending on research and development capabilities, as well as the growth of various end-user verticals, particularly in developing nations, will pave the way for the market to grow further. Smart Beacon Market 1 However, a lack of technological resources for smart beacon deployment across various nations is expected to be a major impediment to global market growth throughout the forecast period. Also, it is expected that a lack of knowledge regarding smart beacon technology among individuals all over the world may hinder the target market's growth during the analysis period. The development of hybrid connection type smart beacons is an ongoing trend in the global market that is expected to assist global market growth throughout the forecast period.

Smart Beacon Market Segment Analysis:

Based on the beacon standard, the Eddystone segment held the largest market share of xx% in 2020. This is because Eddystone provides extended functions other than iBeacon. Eddystone has four data packets as part of the Bluetooth connection signal, including Eddystone-UID, Eddystone-URL, Eddystone-TLM, and Eddystone-EID. These features help provide higher performance accuracy than iBeacon. Eddystone can provide customers with the most relevant information based on their behaviors, choices, priorities, location, and buying habits, to provide customers with guidance. For example, when consumers pass by any store in a mall, they will get information about discounts and other information. Eddystone can fully automate the communication from physical movement to modification, location, and notification based on configuration files. Smart Beacon Market 2 Based on end-user, the Retail segment held the largest market share of xx% in 2020. The use of smart beacons to track a customer's in-store movement has altered the way retailers sell in the market. Beacon technology is being used by big stores such as Timberland, Urban Outfitters, Lord& Taylor, and others to deliver a better consumer experience. Beacon technology allows merchants to track and attract customers to in-store events, discounts, and coupons. Using beacon technology, retailers can now match customer needs and create an online-to-in-store experience. Smart Beacon Market 3

Smart Beacon Market Regional Insight:

North America region is the dominant one and it held the largest market share of xx% in 2020. Thanks to the increasing adoption of smart beacon technology in end-user industries such as retail, public transportation, logistics, and hospitality. According to SITA, an air transport operator, around 450 beacons have been put at Miami International Airport, while 1,500 beacons have been deployed at Schiphol. Simon Property Group reported in 2019 that it installed approximately 4,800 beacons in 192 malls and shopping centers. As a result, it is expected that by 2025, around 200 million Android and Apple devices in North America would be employing smart beacon technology. The objective of the report is to present a comprehensive analysis of the Smart Beacon 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 report also helps in understanding the Smart Beacon market dynamics, structure by analyzing the market segments and projects the Smart Beacon market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Smart Beacon market make the report investor’s guide.

Smart Beacon Market Scope: Inquire before buying

Smart Beacon Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.28 Bn.
Forecast Period 2021 to 2027 CAGR: 31.9 % Market Size in 2027: US $ 22.8 Bn.
Segments Covered: by Beacon Standard • iBeacon • Eddystone • Others
by Connectivity Type • Bluetooth Low Energy (BLE) • Hybrid
by Offering • Hardware • Software • Service
by End-Use • Retail • Hospitality • Transportation & Logistics • Healthcare • BFSI • Others

Smart Beacon Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Smart Beacon Market Key Players

• Aruba • Estimote • Kontakt.io • Bluvision • Cisco • Onyx Beacon • Gimbal • Leantegra • Accent Systems • Sensoro • Swirl Networks • JAALEE Technology • Beaconinside • Blesh • BlueUp • HID Global Corporation

Frequently Asked Questions:

1. Which region has the largest share in Smart Beacon Market? Ans: North American region holds the highest share in 2020. 2. What is the growth rate of Smart Beacon Market? Ans: The Smart Beacon Market is expected to grow at a CAGR of 31.9% during forecast period 2021-2027. 3. What segments are covered in the Smart Beacon market? Ans: Smart Beacon Market is segmented into Beacon Standard, connectivity type, offering, end-user, and region. 4. Who are the key players in the Smart Beacon market? Ans: The important key players in the Smart Beacon Market are – Aruba, Estimote, Kontakt.io, Bluvision, Cisco, Onyx Beacon, Gimbal, Leantegra, Accent Systems, Sensoro, Swirl Networks, JAALEE Technology, Beaconinside, Blesh. 5. What is the study period of this market? Ans: The Smart Beacon Market is studied from 2020 to 2027.
1. Global Smart Beacon Market: Research Methodology 2. Global Smart Beacon Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Smart Beacon Market 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 Entrants 3. Global Smart Beacon Market: 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 • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Smart Beacon Market Segmentation 4.1. Global Smart Beacon Market, by Beacon Standard (2020-2027) • iBeacon • Eddystone • Others 4.2. Global Smart Beacon Market, by Connectivity Type (2020-2027) • Bluetooth Low Energy (BLE) • Hybrid 4.3. Global Smart Beacon Market, by Offering (2020-2027) • Hardware • Software • Service 4.4. Global Smart Beacon Market, by End-user (2020-2027) • Retail • Hospitality • Transportation & Logistics • Healthcare • BFSI • Others 5. North America Smart Beacon Market (2020-2027) 5.1. North America Smart Beacon Market, by Beacon Standard (2020-2027) • iBeacon • Eddystone • Others 5.2. North America Smart Beacon Market, by Connectivity Type (2020-2027) • Bluetooth Low Energy (BLE) • Hybrid 5.3. North America Smart Beacon Market, by Offering (2020-2027) • Hardware • Software • Service 5.4. North America Smart Beacon Market, by End-user (2020-2027) • Retail • Hospitality • Transportation & Logistics • Healthcare • BFSI • Others 5.5. North America Smart Beacon Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Smart Beacon Market (2020-2027) 6.1. European Smart Beacon Market, by Beacon Standard (2020-2027) 6.2. European Smart Beacon Market, by Connectivity Type (2020-2027) 6.3. European Smart Beacon Market, by Offering (2020-2027) 6.4. European Smart Beacon Market, by End-user (2020-2027) 6.5. European Smart Beacon Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Smart Beacon Market (2020-2027) 7.1. Asia Pacific Smart Beacon Market, by Beacon Standard (2020-2027) 7.2. Asia Pacific Smart Beacon Market, by Connectivity Type (2020-2027) 7.3. Asia Pacific Smart Beacon Market, by Offering (2020-2027) 7.4. Asia Pacific Smart Beacon Market, by End-user (2020-2027) 7.5. Asia Pacific Smart Beacon Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Smart Beacon Market (2020-2027) 8.1. The Middle East and Africa Smart Beacon Market, by Beacon Standard (2020-2027) 8.2. The Middle East and Africa Smart Beacon Market, by Connectivity Type (2020-2027) 8.3. The Middle East and Africa Smart Beacon Market, by Offering (2020-2027) 8.4. The Middle East and Africa Smart Beacon Market, by End-user (2020-2027) 8.5. The Middle East and Africa Smart Beacon Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Smart Beacon Market (2020-2027) 9.1. Latin America Smart Beacon Market, by Beacon Standard (2020-2027) 9.2. Latin America Smart Beacon Market, by Connectivity Type (2020-2027) 9.3. Latin America Smart Beacon Market, by Offering (2020-2027) 9.4. Latin America Smart Beacon Market, by End-user (2020-2027) 9.5. Latin America Smart Beacon Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Aruba 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 10.3. Kontakt.io 10.4. Bluvision 10.5. Cisco 10.6. Onyx Beacon 10.7. Gimbal 10.8. Leantegra 10.9. Accent Systems 10.10. Sensoro 10.11. Swirl Networks 10.12. JAALEE Technology 10.13. Beaconinside 10.14. Blesh 10.15. BlueUp 10.16. HID Global Corporation

About This Report

Report ID 7844
Category Electronics
Published Date Nov 2019
Updated Date Jan 2022
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