Global Bluetooth Beacons Market is anticipated to reach USD 58.7 billion by 2025. Bluetooth beacons are becoming progressively trendy across businesses as they are simple deploy models and cost-effective. Bluetooth beacons are deployed by businesses to send information and content, which are contextually appropriate, to users at exact sites.
The factors that propel the growth of the Bluetooth Beacons industry include surge in planned retailing such as supermarkets, hypermarkets, specialty stores, cash and carry stores, discounters, and department stores; high demand from ground transit hubs and airports as they allow the distribution of immediate notifications regarding flight departures, delays, and platform and gate information to customers.
On the other hand, there are factors that may hamper the growth of the market including a lack of scalability, and rising concerns concerning security and privacy. Bluetooth Beacons Market is anticipated to grow at a significant CAGR of 95.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Bluetooth Beacons industry may be explored by technology, end users, and geography. The market may be explored by technology as Eddystone, iBeacon, and Others. The “iBeacon Technology” segment led the Bluetooth Beacons Market in 2016 and is anticipated to maintain its dominance by 2025 owing to widespread acceptance of products, such as iPhone and iPads.
The Bluetooth Beacons industry could be explored based on end users as Travel & tourism, Retail, Financial institutions, Healthcare, and Others. The “retail” segment led the market in 2016 and is anticipated to maintain its dominance by 2025 owing to growing beacon deployment for enhancing customer contribution.
Asia-Pacific accounted for the major share of the Bluetooth Beacons Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include huge potential for the retail industry, and technological advancement. Asia-Pacific would be followed by North America in the years to come.
Some of the key players that fuel the growth of the Bluetooth Beacons industry compriseKontakt.io, Estimote, Inc., BlueCats, Quuppa Oy, Qualcomm Inc., Blesh, Beaconinside GmbH, Radius Networks, Inc., Bluvision, Inc., Onyx Beacon Ltd., and Polestar. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Bluetooth Beacon Technology Outlook (Revenue, USD Million; 2014 - 2025)
Bluetooth Beacon End-Use Outlook (Revenue, USD Million; 2014 - 2025)
• Travel & tourism
• Financial institutions
Bluetooth Beacons Regional Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Research Support Specialist, USA