DUBLIN, November 15, 2017 /PRNewswire/ --
The "Global Beacons Technology Market - Analysis and Forecast: 2017 to 2026 Focus on Protocol Types (iBeacon, Eddystone, and Others) and End Users (Retail, Real Estate, Transport, Hospitality, Education and Others)" report has been added to Research and Markets' offering.
The beacons technology market reported a revenue of $519.6 million in 2016, with retail end user accommodating for the highest revenue by 2026.
Rapid advancements in wireless communication technologies in the recent years has led to the emergence and growth of Bluetooth beacons, which is a distinctive field of proximity connectivity. 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.
The beacons technology market will take a couple of years to reach its full market potential and commercialization. Currently, beacons are dependent on Bluetooth enabled mobile devices with a compatible software application. The effective realization of beacons technology platform involves creative concepts and resources for developing interactive applications. Large and well-known retailers may not face an issue in getting the user to download their applications, however, the small and medium-sized retailers and business certainly have the problem of expanding their reach. Moreover, the maintenance cost of beacons system is quite high as compared to other proximity wireless communication platforms. However, companies are opting for strategies to reduce the maintenance cost incurred due to batteries by utilizing USB beacons, which are easy to configure with infinite durability and low maintenance cost.
Increase in the Internet of Things (IoT) spending, a rise in the demand for beacons for providing location-based marketing, and development visions for smart cities across the globe are driving the growth of the market. In addition to this, dependency on Bluetooth enabled mobile devices with a compatible software application and a significant reduction in maintenance cost of beacons system act as major challenges to the market. Furthermore, 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 - Industry 4.0, are expected to create lucrative opportunities for the market in the coming years. Each of these factors has a definite impact on the growth of the market.
North America is expected to maintain its dominance through the forecast period, owing to the maximum number of beacons installation for the retail industry. In addition to this, the emerging start-ups in the region are also keen to develop beacons for the emerging applications for varied end users, thus, boosting the utilization of beacons in the industrial and transportation industry. Moreover, Asia-Pacific is expected to witness the highest growth in the market, mainly driven by the increasing focus of the nations in the region on developing efficient wireless connectivity, thus, making it as one of the key strategic industries, which will make the country innovation-driven, high-tech, and capable enough to compete with the leading nations in the IT industry across the globe.
Key Topics Covered:
1 Research Scope & Methodology
2 Market Dynamics
3 Competitive Insights
4 Industry Analysis
5 Global Beacons Technology Market
6 Global Beacons Technology Market by Protocol Type
7 Global Beacons Technology Market by End User
8 Global Beacons Technology Market by Region
9 Company Profiles
- Accent Advanced Systems, SLU
- Aruba Networks, Inc.
- BKON Connect, Inc.
- Beaconinside GmbH
- Blue Sense Networks Ltd.
- BlueCats Australia Pty Ltd.
- Bluvision Inc.
- Estimote, Inc.
- Fujitsu Ltd.
- G24 Power Ltd.
- Gimbal, Inc.
- Glimworm Beacons
- Onyx Beacon Ltd.
- Radius Networks, Inc.
For more information about this report visit https://www.researchandmarkets.com/research/w2sgwd/global_beacons
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