Welcome!

News Feed Item

Global Beacons Technology Market Anticipated to Reach $56.55 Billion by 2026, Reports BIS Research

BLOOMINGTON, Minnesota, November 15, 2017 /PRNewswire/ --

According to a market intelligence report by BIS Research titled "Global Beacons Technology Market, Analysis & Forecast, 2017 - 2026", the global market is expected to reach $56.55 billion by 2026, growing at a CAGR of 59.8% during the forecast period of 2017 - 2026.

     (Logo: http://mma.prnewswire.com/media/495163/BIS_Research_Logo.jpg )

Beacons are defined as proximity devices, transmitting Bluetooth Low Energy (BLE) signals, received by nearby portable electronic devices, in order to facilitate varied applications, including advertising, indoor navigation, notification & alert, monitoring, real-time analysis, and quick interaction, among others. In the recent years, the proximity market has been undergoing a major transformation in various technologies, which is replacing the traditional approaches with Bluetooth beacons, in dealing with several aspects of wireless communication platforms based on proximity solutions, such as location-based marketing, delivering contextual data of the customers mobile device, and real-time monitoring and analysis of high maintenance environments, such as manufacturing units, medical centers, and management events & setups, among others.

Constant advancements in Bluetooth technology in the recent years for applications in the retail industry have led to the development of a unique, flexible, and distinctive field of proximity solutions, namely beacons technology. Beacons are majorly being deployed at commercial constructions and setups, for providing efficient marketing solution to the retailers, along with delivering relevant contextual data of the visitor's mobile device, in order to drive foot traffic to their stores, and consequently increase sales volume. Retail marketing is advancing towards a futuristic concept of campaigns through mobile devices, wherein the app collects specific details like the in-app activity of the user, demographics, and location to help in designing the campaign accordingly. Retailers are finding location-based campaigns very efficient as it drives footfall by executing the campaign at apt time. In addition to this, beacon platforms are designed to be utilized for industrial and healthcare applications as well and is the fastest growing field in terms of inventions and research.

Browse 26 Market Data Tables and 108 Figures spread through 212 Pages and in-depth TOC on "Global Beacons Technology Market"

The beacons technology market has witnessed a high growth rate owing to the increase in the IoT spending, rise in the demand of beacons for providing location-based marketing, and development visions for smart cities across the globe. Recent innovations in beacon standards, protocols, and services have enabled the beacons technology to reach a wider segment of consumers in the industry. However, dependency on Bluetooth enabled mobile devices with compatible software application and significant reduction in the maintenance cost act as a major challenge for the market. Companies are developing various software for beacon enabled proximity platforms, such as content management system, analytical system, mobile apps, firmware, and Software Development Kits (SDKs), among others, to make the beacons system cost-effective, durable, and efficient. This, in effect, is expected to increase competition in the near future as well as facilitate the utilization of beacons for varied applications.

Increasing market penetration of beacons technology into the emerging sectors: airport, railways, real estate, automobile, and hotel, continued advancements in Bluetooth technology, and beacons gaining traction in enterprises for Industry 4.0 are the major factors which are expected to create lucrative opportunities for the market in the next five years. Currently, there are more than 70 beacon products in the market, which are either commercially available or in designing and testing phase that are being deployed for diverse applications, mostly in the retail sector. The cost of beacons present in the market depends on the battery life and range. A beacon, capable of 70 meters of range and 5 years of battery life, has a selling price of approximately $22. However, the cost ranges from $5 to $89, depending upon the use case and subsequent value additions, in terms of sensors, control units, and firmware.

The beacons technology market has been a significant area of focus in the proximity industry, in order to facilitate varied applications, including data collection, deliver offer info, assistance in navigation, payment facility, product ordering facility, communicate information, alerts for delays and changes in transport, and setting up reminders, among others. With a drastic rise in the utilization of beacon technology, various end-users, including retail, real estate, transport, and hospitality, among others, are investing in this technology to generate greater revenues. Furthermore, retail industry is the biggest end-user of the market, utilizing and availing benefits of beacon technology.

According to Ayushi Bajpai, an analyst at BIS Research, "iBeacon consumed around 80% of the overall market in 2016, followed by Eddystone. iBeacon provides higher level of privacy, as their data collection is individual specific, which cannot be utilized by any third party. Google has its protocol, named Eddystone, which is very advantageous for android devices, as they already have Chrome installed. But there is a question of the trade-off of utilizing information in the market, as to how much information an end-user would want Google to have about their business or company."

Request for Sample Report: https://bisresearch.com/requestsample?id=454&type=download

The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of the future trends and developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financials, financial summary and SWOT analysis. The overall market has been segmented by protocol types, including iBeacon, Eddystone, and others; and end users, namely: retail, real estate, transport (railways, roadways, and airports), hospitality, education, and others (residential, industrial, healthcare, stadium, and museum). The report also includes a comprehensive section on the geographical analysis including North America, Europe, Asia-Pacific, and Rest of the World.

The report is a meticulous compilation of research on more than 100 players in the ICT industry and draws upon insights from in-depth interviews with the key opinion leaders of more than 20 leading companies, market participants, and vendors. The report also profiles around 15 companies, which are the leading beacon producers, including Accent Advanced Systems, SLU, Aruba Networks, Inc., Beaconinside GmbH, BKON Connect, Inc., Blue Sense Networks Ltd., Bluecats Australia Pty Ltd., Bluvision Inc., Estimote, Inc., Fujitsu Ltd., G24 Power Ltd., Gimbal, Inc., Glimworm Beacons, Kontakt Micro-Location Sp. Z.o.o., Onyx Beacon Ltd., and Radius Networks, Inc., among others. The report also focuses on the emerging start-ups in beacons technology market and provides strategic developments by them.

Key questions answered in the report:

  • What was the size, in terms of revenue and volume, of the beacons technology market in 2016, and what will be the growth rate during the forecast period, 2017-2026?
  • What is the market size of different protocol types, including iBeacon, Eddystone, and others for beacons?
  • What was the market value of different end users of beacons in 2016?
  • What is the market size of beacons on the basis of different geographical regions and leading nations in the respective regions? Furthermore, what is the market size of different end users of beacons operating in these regions?
  • What are the key trends and opportunities in the beacons technology market, across different regions and respective countries?
  • What are the major driving forces that are expected to increase the demand of beacons during the forecast period?
  • What are the major challenges inhibiting the growth of the global beacons technology market?
  • What kind of new strategies are being adopted by the existing market players to make a mark in the industry?
  • What is the competitive strength of the key players in the beacons technology market by market share analysis and competitive benchmarking model?
  • How attractive is the market, according to Porter's Five Forces model, for different stakeholders present in the global beacons technology market?

Related Reports:

About BIS Research:

BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market. With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D Printing, Advanced Materials & Chemicals, Aerospace and Defense, Automotive, Healthcare, Electronics & Semiconductors, Robotics & UAV and other emerging technologies.

Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.

What distinguishes BIS Research from the rest of the players is that we don't simply provide data, but also complement it with valuable insights and actionable inputs for the success of our clients.

Contact:
Bhavya Banga
Email: [email protected]
BIS Research™
9100 West Bloomington Freeway,
Suite 159, Bloomington,
MN 55431

Visit our Blog @ http://bisresearch.com/blog/

Connect with us on LinkedIn @ https://www.linkedin.com/company/3720474

Connect with us on [email protected] https://twitter.com/BISResearch

SOURCE BIS Research

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...