Global Beacon Market Size, Share, Opportunities, And Trends By Technology (Bluetooth, Wi-Fi, Ultrasound, Others), By End-User Industry (Retail, Hospitality, Healthcare, BFSI, Others), And By Geography - Forecasts From 2024 To 2029

The global beacon market is evaluated at US$2.952 billion for the year 2022 growing at a CAGR of 21.01% reaching the market size of US$11.219 billion by the year 2029.

Beacons are small, inexpensive devices that broadcast Bluetooth low-energy signals or Bluetooth smart signals, using Bluetooth Low Energy (BLE). Compatible apps on mobile devices can listen to signals from adjacent beacons and trigger a series of experiences, including sending a promotional notification, video, URL form, and others, via the app. Additionally, beacon technology is widely used in a wide variety of industries, such as retail, healthcare, travel and tourism, and education due to its advantages such as superior accuracy in comparison with other geolocation methods, low battery consumption, and not requiring an internet connection, among others. One of the key market trends gaining traction is the adoption of Bluetooth smart technology, loop technology, and over-the-air (OTA) technology based on artificial intelligence. The technology is increasingly being adopted by companies to enhance their market presence.

An increase in investment in proximity marketing by the enterprises is fuelling the global beacon market growth.  For example, a new proximity marketing strategy via beacons at 15 McDonald's outlets in Istanbul was used by the fast-food chain to improve its customer relationship and promote a new coffee-flavored drink line. The need for monitoring employees, managing assets, ensuring safety, and optimizing resources are also contributing to the market's growth.  Several companies have developed advanced beacon protocols including Apple Inc. and Google LLC, which are called iBeacon and Eddystone, respectively. 

MARKET DRIVERS:

• Integration of advanced communication technologies

Several factors are driving the beacon market growth such as the rising adoption and popularity of advanced communication technologies such as Bluetooth, Wi-Fi, NFC (near-field communication), RFID (radio-frequency identification), and others. The increasing demand for beacon-enabled devices utilizing Bluetooth 5.2, Bluetooth 5, and Bluetooth 4 in all sectors including transportation, logistics, entertainment, and more, is expected to boost their adoption during the projected period. Bluetooth technology has become a key enabler of the beacon market globally. The focus of major enterprises on this technology is also aiding in its expansion. E.g., GE and Walmart have partnered to launch a unique trial using the iBeacon technology. The retailer used GE light bulbs to display beacon technology and provide customers with push notifications of special deals and discounts. Nisa, a popular convenience store group, has launched a pilot program using iBeacon technology. Beacons are attached to shopping carts and baskets to track shoppers' movements around the store in conjunction with sensors installed on the ceiling. The US's second-largest general merchandise retailer, Target,  has started testing beacon technology across 50 of its stores.

• Ongoing Smart City Projects

Beacons are being used in smart city projects by different central and state governments to enhance the security of infrastructure assets by enabling increased interaction with users within their proximity zone. As smart cities continue to grow globally, beacons are expected to see increased deployment during the forecast period. iBeacon Living Lab in Amsterdam is an example of smart city technology. The IoT testing ground is a large, public, and open testbed that offers a large number of iBeacons installations and developer-friendly platforms that generate actionable, open data. RLSB's (Royal London Society for the Blind) Wayfindr, a smartphone app, aims to change the way impairments navigate the world. The application uses beacon technology to track a user's location and offer him/her audio-based directions and advice based on the location.

MARKET RESTRAINTS:

• Privacy and Security issues are anticipated to hamper the market.

The market is constrained by data security concerns related to wireless networks and the Internet of Things (IoT). By using beacon technology, information is transmitted directly to the relevant mobile application, which then stores all of the user's personal information. Also, the increasing cybersecurity threats targeting businesses through IoT devices are expected to hinder the beacon market growth during the forecast period.

The North American beacon market is anticipated to grow significantly.

Several factors are driving the beacon market in North America, which is not surprising given how widely beacon technology is being adopted by a variety of sectors. Beacons are essential to proximity marketing in the retail industry since they offer tailored incentives and improve the whole shopping experience. The incorporation of beacon technology, which provides real-time location-based information, has been motivated by the need for seamless indoor navigation and wayfinding in locations such as airports and retail malls. Beacons are also used in parking control, urban planning, and public transit because of the growing interest in IoT and smart city development. Beacons are integrated with wearables and mobile apps to improve user engagement by providing location-specific services and content. Beacons are used in the healthcare industry for asset tracking, which increases operational effectiveness in healthcare institutions.

Key Developments:

• In June 2022, InPlay, the creator of the ultra-low-cost, low-power, Bluetooth sensor NanoBeacon system-on-chip (SoC) technology, and Powercast Corporation, the pioneer in radio-frequency (RF)-based over-the-air wireless power technology, have joined forces to create a platform for designing long-range, wireless, battery-free, and maintenance-free Internet of Things (IoT) sensor systems that can be readily deployed for monitoring in the retail, medical, warehousing, and industrial IoT markets.
• In May 2021, as part of its AirMapperTM Site Survey Ecosystem of products, NetAlly announced the release of the EtherScope nXG v1.5 software with Bluetooth and BLE (Bluetooth Low Energy) site survey functionality.

Global Beacon Market Scope:

 

Report Metric	Details
Market Size Value in 2022	US$2.952 billion
Market Size Value in 2029	US$11.219 billion
Growth Rate	CAGR of 21.01% from 2022 to 2029
Base Year	2022
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Technology End-User Industry Geography
Companies Covered	BlueCats Estimote, Inc. Glimworm Beacons Gimbal, Inc. (The Mobile Majority) Kontakt And more
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

Segmentation:

• By Technology
  • Bluetooth
  • Wi-Fi
  • Ultrasound
  • Others
• By End-User Industry
  • Retail
  • Hospitality
  • Healthcare
  • BFSI
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
    • Others
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Japan
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

1.8. Key Benefits to the stakeholder

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Processes

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. CXO Perspective

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. GLOBAL BEACON MARKET, BY TECHNOLOGY

5.1. Introduction

5.2. Bluetooth

5.2.1. Market Trends and Opportunities

5.2.2. Growth Prospects

5.2.3. Geographic Lucrativeness

5.3. Wi-Fi

5.3.1. Market Trends and Opportunities

5.3.2. Growth Prospects

5.3.3. Geographic Lucrativeness

5.4. Ultrasound

5.4.1. Market Trends and Opportunities

5.4.2. Growth Prospects

5.4.3. Geographic Lucrativeness

5.5. Others

5.5.1. Market Trends and Opportunities

5.5.2. Growth Prospects

5.5.3. Geographic Lucrativeness

6. GLOBAL BEACON MARKET, BY END-USER INDUSTRY

6.1. Introduction

6.2. Retail

6.2.1. Market Trends and Opportunities

6.2.2. Growth Prospects

6.2.3. Geographic Lucrativeness

6.3. Hospitality

6.3.1. Market Trends and Opportunities

6.3.2. Growth Prospects

6.3.3. Geographic Lucrativeness

6.4. Healthcare

6.4.1. Market Trends and Opportunities

6.4.2. Growth Prospects

6.4.3. Geographic Lucrativeness

6.5. BFSI

6.5.1. Market Trends and Opportunities

6.5.2. Growth Prospects

6.5.3. Geographic Lucrativeness

6.6. Others

6.6.1. Market Trends and Opportunities

6.6.2. Growth Prospects

6.6.3. Geographic Lucrativeness

7. GLOBAL BEACON MARKET, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. By Technology

7.2.2. By End-User Industry

7.2.3. By Country

7.2.3.1. USA

7.2.3.1.1. Market Trends and Opportunities

7.2.3.1.2. Growth Prospects

7.2.3.2. Canada

7.2.3.2.1. Market Trends and Opportunities

7.2.3.2.2. Growth Prospects

7.2.3.3. Mexico

7.2.3.3.1. Market Trends and Opportunities

7.2.3.3.2. Growth Prospects

7.3. South America

7.3.1. By Technology

7.3.2. By End-User Industry

7.3.3. By Country

7.3.3.1. Brazil

7.3.3.1.1. Market Trends and Opportunities

7.3.3.1.2. Growth Prospects

7.3.3.2. Argentina

7.3.3.2.1. Market Trends and Opportunities

7.3.3.2.2. Growth Prospects

7.3.3.3. Others

7.3.3.3.1. Market Trends and Opportunities

7.3.3.3.2. Growth Prospects

7.4. Europe

7.4.1. By Technology

7.4.2. By End-User Industry

7.4.3. By Country

7.4.3.1. Germany

7.4.3.1.1. Market Trends and Opportunities

7.4.3.1.2. Growth Prospects

7.4.3.2. France

7.4.3.2.1. Market Trends and Opportunities

7.4.3.2.2. Growth Prospects

7.4.3.3. United Kingdom

7.4.3.3.1. Market Trends and Opportunities

7.4.3.3.2. Growth Prospects

7.4.3.4. Spain

7.4.3.4.1. Market Trends and Opportunities

7.4.3.4.2. Growth Prospects

7.4.3.5. Others

7.4.3.5.1. Market Trends and Opportunities

7.4.3.5.2. Growth Prospects

7.5. Middle East and Africa

7.5.1. By Technology

7.5.2. By End-User Industry

7.5.3. By Country

7.5.3.1. Saudi Arabia

7.5.3.1.1. Market Trends and Opportunities

7.5.3.1.2. Growth Prospects

7.5.3.2. UAE

7.5.3.2.1. Market Trends and Opportunities

7.5.3.2.2. Growth Prospects

7.5.3.3. Israel

7.5.3.3.1. Market Trends and Opportunities

7.5.3.3.2. Growth Prospects

7.5.3.4. Others

7.5.3.4.1. Market Trends and Opportunities

7.5.3.4.2. Growth Prospects

7.6. Asia Pacific

7.6.1. By Technology

7.6.2. By End-User Industry

7.6.3. By Country

7.6.3.1. China

7.6.3.1.1. Market Trends and Opportunities

7.6.3.1.2. Growth Prospects

7.6.3.2. India

7.6.3.2.1. Market Trends and Opportunities

7.6.3.2.2. Growth Prospects

7.6.3.3. South Korea

7.6.3.3.1. Market Trends and Opportunities

7.6.3.3.2. Growth Prospects

7.6.3.4. Taiwan

7.6.3.4.1. Market Trends and Opportunities

7.6.3.4.2. Growth Prospects

7.6.3.5. Thailand

7.6.3.5.1. Market Trends and Opportunities

7.6.3.5.2. Growth Prospects

7.6.3.6. Indonesia

7.6.3.6.1. Market Trends and Opportunities

7.6.3.6.2. Growth Prospects

7.6.3.7. Japan

7.6.3.7.1. Market Trends and Opportunities

7.6.3.7.2. Growth Prospects

7.6.3.8. Others

7.6.3.8.1. Market Trends and Opportunities

7.6.3.8.2. Growth Prospects

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. BlueCats

9.2. Estimote, Inc.

9.3. Glimworm Beacons

9.4. Gimbal, Inc. (The Mobile Majority)

9.5. Kontakt

9.6. Signal360

9.7. Kartographers Technologies Pvt. Ltd.

9.8. Verve Wireless, Inc. (Media and Games Invest)

9.9. G24 Power, Ltd.

9.10. MokoSmart

BlueCats

Estimote, Inc.

Glimworm Beacons

Gimbal, Inc. (The Mobile Majority)

Kontakt

Signal360

Kartographers Technologies Pvt. Ltd.

Verve Wireless, Inc. (Media and Games Invest)

G24 Power, Ltd.

MokoSmart