Bluetooth Beacons Market: Understanding the Key Product Segments And Their Future 2019-2025
The Bluetooth beacon market is an innovative technology that is currently growing due to its interesting applications like indoor navigation and contactless payment.
[EUPRwire, Fri May 03 2019] According to stats, the global Bluetooth beacon market is expected to grow at a remarkable rate to reach a substantial value by the end of the assessment year. The Bluetooth beacon market witnessed a sluggish growth during the forecast period 2012-2016. However, it attracted enormous steam after 2016 and is anticipated to grow at a healthy CAGR of 91.4% throughout the period of assessment that is 2017-2025. By the end of the assessment year, the global market for Bluetooth beacons is predicted to reach an enormous valuation of more than US$ 37 Bn from a value of US$ 207 Mn in 2017.
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This massive growth can be credited to several key aspects such as consistency in growth of smartphones, implementation of beacons in retail stores to engage customers and related technologies and growing sue of beacons in industries for improvement of security. As per the research, it has been found that the key players involved in this market can emphasize on expansion their reach in North America and Asia Pacific region over the next couple of years.
Some of the factors that hamper the market growth include increasing concerns regarding security and privacy and a lack of scalability. Another challenging issue against industry is interoperability issue. However, the rising use of Bluetooth beacons in the healthcare sector is supporting it to emerge as an opportunity in the market. The enhanced range and improved security is also anticipated to create a positive outlook of the global Bluetooth beacons market.
Some of the key market players operating the bluetooth beacons market are Estimote, Inc., BlueCats, Kontakt.io, Qualcomm Inc., Beaconinside GmbH, Blesh, Radius Networks, Inc., Bluvision, Inc., Onyx Beacon Ltd., Polestar and Quuppa Oy. The market have cut-throat competitive edge and characterized by both hardware and software providers presence.
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Some Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Global Bluetooth Beacons Market Overview, By Component
Chapter 5. Global Bluetooth Beacons Market Overview, By End-Use
Chapter 6. Global Bluetooth Beacons Market Overview, By Region
Chapter 7. Company Profiles
Get the access of more information through our blog, Blogs and Case study:
- Blogs on "Bluetooth Beacons and its Impact on the Retail Sector?”
The Bluetooth Beacon market came into picture in the year 2013, when Apple introduced its iBeacon technology. Since its launch it is helping in transforming the shopping experience of masses. It was predicted that sales would increase by almost 9% and the return of investment would grow by 175%.
Though retailers are still finding ways to implement the same for promised results and growth. Let’s unders
What is a Bluetooth beacon?
A beacon is a kind of lighthouse that transmits signals which are received by compatible devices. Here the signal is in the form of a string of characters that form a message. Smart phones or any similar Bluetooth device receives this signal.
A beacon is an extremely hi-tech small and wireless device that is placed at multiple locations across the retail stores. A beacon work well even in low connectivity parts of the store as it is completely independent of the mobile network provider. Owing to its ability to work on low Bluetooth signals it is often termed as Bluetooth low energy (BLE) devices.
The Bluetooth beacon transmits signal which is detected by a nearby smart phone or any other similar Bluetooth device. The Bluetooth device signals with an id number to the smart device. The smart device then transmits the ID to a cloud server, which is verified for the action that is registered. Once verified by the cloud the message is received by the smart device. To explain it in similar terms let’s look at an example (ref. example 1), consider you are out shopping and cross a bag store, which currently is giving discounts on its products. Now this store uses Bluetooth beacons and owing to it when you are near the shop, your device will get an alert/notification of the offer/discount. This in-turn leads to a better customer experience for you and increases your customer engagement.
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- White Paper on "Bluetooth Beacons: Promises and Challenges!"
This whitepaper provides detailed information about the Bluetooth Beacons industry with current and future trends and the sectors it is extensively used in. It also covers in-depth analysis of Bluetooth Beacons features and its applications. This whitepaper will give you a clear idea about how Bluetooth Beaconss are used for real-time monitoring of the overall fuel expenses by your company driver. Bluetooth Beaconss offer additional benefits by capturing low-level data that delivers details like cost per mile, gallons of fuel filled, and the maintenance of the vehicle. Bluetooth Beacons offers a dynamic view of operations to management and helps your drivers perform cashless payment for vehicle fuels and other expenses.
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- Case Study on "Bluetooth Beacons and The Retail & Food And Beverage Industry"
The Bluetooth beacon market is an innovative technology that is currently growing due to its interesting applications like indoor navigation and contactless payment. Since its conception in 2013, various marketing agencies and retail businesses along with management organizations are trying to optimize the usage of beacons in retail. Beacons are widely used to provide better customer experience, enhanced shopping experience, customer intelligence and provide real time updates to customers. Bluetooth beacons work best with proximity marketing techniques and is currently used as a marketing tools by major brands like Walmart, Mc Donald’s, Amazon, Moss Bros and Woolworths to name
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