The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Smart Beacon Industry. The growth sectors of the Smart Beacon Industry are identified with precision for a better growth perspective.
Market Research Future (MRFR) in its latest “Smart Beacon Market” reports, that the global market of smart beacon is expected to increase to a valuation of about USD 25,000.0 million by 2025 from USD 1,240.0 million in 2018. MRFR also asserts that the worldwide market of smart beacon is likely to thrive at a lucrative CAGR of nearly 54% during the forecast years of 2018 to 2025.
Smart beacon are used for indoor navigation. The technology uses low energy bluetooth technology to send and receive signals to nearby smart gadgets. Smart beacons are being used across retail outlets, airports, offices, transportation, and education industries. The surge in demand for smart beacons for indoor navigation is expected to be the underlining factor for the global smart beacon market to grow. Additionally, the incorporation of IoT and cloud computing technologies is also expected to surge the market growth. Smart beacons are also noted to control entertainment units, thermostats, home appliances, security systems, surveillance cameras, and fixtures via smartphones. This is likely to bolster the market expansion. Self-powered and use of small transmitters are major features of smart beacons. Hence, they assist in generating accurate and timely data. These beacons are also applied to broadcast advertising services and information for publicity and promotional events or message. These can also escalate the market.
Market Segmental Analysis
The global market of smart beacon is studied in segments. The segmental analysis of the market is done by connectivity type, beacon standard, component, and end user. By beacon standard, the market is segmented into Eddystone, iBeacon, and others. By connectivity type, the market is segmented into Wi-Fi, hybrid, and Bluetooth low energy (BLE). By component, the market is segmented into hardware, service, and software. By end user, the market is segmented into transportation & logistics, retail, hospitality, automotive, aviation, healthcare, BFSI, education, and others.
Detailed Regional Study
The regional study of the market reveals about the progress of the global smart beacon market in certain regions. They are; North America, Middle East and Africa, Europe, Asia-Pacific, and Central and South America. The worldwide market of smart beacon is projected to expand at a lucrative CAGR in the forecast years of 2019 to 2025 and is expected to be competitive. The geographic study of the smart beacon market settles for Europe observed to hold the largest share of the market due to the well-known companies receding in the region. The market in North America is expected to rank second in the growth chart. The early adoption of smart beacon technology is expected to propel the regional market. In Asia Pacific, the market is likely to grow at the fastest rate, as the beacon technology is being widely accepted across countries, such as Australia and China.
Market Key Players
The companies that are operating in the market are expected to encounter a wide range of opportunities to enhance their smartphone apps with the advent of BLE beacons. These eminent companies are extensively focusing on scrutinizing strategies of their co-contenders and analyse scopes for emerging rivals. This, in turn, is allowing them to stay ahead of game-changing innovations. The significant key players of the smart beacon market that are listed by MRFR are; Aruba-Hewlett Packard Enterprise Company (US), Estimote, Inc. (US), Cisco Systems Inc. (US), Kontakt.io (Poland), Leantegra Inc. (US), Bluvision-HID Global Company (US), Accent Advanced Systems, Gimbal, Inc. (US), SLU (Spain), Sensoro Co., Ltd (US), Swirl Networks (US), JAALEE Technology (China), Blue Cats (Australia), BlueUp Srls (Italy), Square Metrics GmbH (Germany), Radius Networks Inc. (US), Bleesk Benelux Sprl (Spain), Resono (Netherlands), and others.
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