Global Beacon Market is estimated to reach a market size worth US$14,087.993 million by 2027

Global Beacon Market is estimated to reach a market size worth US$14,087.993 million by 2027

By Knowledge Sourcing Intelligence Press Releases

Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market of “Global Beacon Market - which is forecasted from 2020 to 2027”.

The key growth factors attributing to the growth of the Global Beacon Market in the forecasted period are the rapidly advancing communication technologies, increasing strategic developments, and initiatives deployed by both government and firms. Furthermore, the increase in demand for Bluetooth devices is also expected to augment the market growth.

As per the report, Global Beacon Market is expected to grow at a CAGR of 41.91% to reach US$14,087.993 million by 2027, from US$1,215.257 million in 2020. 

Beacons are miniature-sized, inexpensive transmitters. These wireless transmitters operate upon low-energy-based Bluetooth Technology, using BLE (Bluetooth Low Energy) to send signals to nearby smart devices. In simple terms, these devices can connect and effectively transmit data to a smart device, enabling location-based browsing and interaction to be much simpler and more accurate. These innovative devices can help retailers track their patron’s mobility in-store and effectively offer discounts and customized suggested articles to their patrons based on the data gathered. Apart from the retail industry, beacons are widely being used in multiple industries, including healthcare, travel, tourism, and education sector. The increasing penetration of the latest innovative technologies such as wi-fi, NFC, RFID, Bluetooth, and others are expected to add impetus to the market growth. Furthermore, Beacons are also being deployed in smart city projects by governments of various nations to optimize the security of infrastructures. However, cyber security and related issues pertaining to IOTs and wireless networks are expected to constrain market growth.

On the basis of the connectivity types of technology, Global Beacon Market is bifurcated into Bluetooth, wi-fi, Ultrasound, and others. Increasing in demand for Bluetooth-based devices and advancing Bluetooth technologies is expected to fuel the Bluetooth-enabled Beacons market.

On the basis of end-users, the market is further segmented into Retail, Hospitability, BFSI, Healthcare, and others. 

On the basis of geography, the market is segmented into North America, South America, Asia Pacific, Europe, the Middle East, and Africa. North America and Asia Pacific regions are expected to occupy a dominant position in the global landscape owing to an increase in strategic developments deployed in the region by major key players.

The implementation of beacons in public places for safety measures by governments during covid-19 had a considerably positive impact on the market. To meet with such demands, companies are also gearing up to supply better beacons to their consumers. Estimote’s plan to offer a wearable Bluetooth tracking device to help in supporting safety in the workplace and Covid-19 prevention is the best example of this. 

As a part of the report, the key players active in the Coagulation Testing Market that has been covered are BlueCats, Estimote, Inc., Glimworm Beacons, Gimbal, Inc., Kontakt, Signal360, Kartographers Technologies Pvt. Ltd., Verve Wireless, Inc., G24 Power, Ltd., MokoSmart.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-beacon-market

This analytics report segments the Global Beacon market on the following basis:

  • 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