The Global Beacon Market size was valued at USD 1.35 billion in 2019 and is predicted to reach USD 49.31 billion by 2030 with a CAGR of 38.6% from 2020-2030.
Beacon is a small, battery-powered, electronic device that runs on Wi-Fi, low energy Bluetooth, ultrasound, or hybrid technologies. It is used for transmitting digital information to nearby devices such smartphones, tablets, laptops, and other smart gadgets. With the help of Beacons, marketers can send timely and targeted messages to potential customers present in and around their physical location. Once beacons are placed in a brick-and-mortar store, detailed information about the customer movements can be gathered by the retailers, which help them optimizing the in-store experience and create highly personalized marketing campaigns. The promotional content can be in the form of videos, URL, notifications, and others.
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Top Companies: Advanced system, Apple Inc., SLU, Blue Sense Networks, BlueCats, Gelo, Estimote, Inc., Glimworm Beacons, Kontakt.io, Gimbal, and Beaconinside GmbH and others.
The global beacon market share has been analyzed based on type, technology, application, and geography. Based on type, the market is segmented into iBeacon, Eddystone, AltBeacon, and others. Based on technology, the market is fragmented into BLE, Wi-Fi, ultrasound, and combined technology. Based on application, the market is divided into retail, travel, tourism & hospitality, healthcare, BFSI, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America is expected to dominate the global Beacon market thought the forecast period accounting for the highest market share. This is attributed to factors such as presence of well-establish networking & telecommunication infrastructure, and development of advanced technologies. Asia Pacific is gaining traction in the global Beacon market, with gradual increase in market share owing to rapid urbanization and surge in population growth in this region. Furthermore, growing adoption of smartphone, increasing inclination towards geo-marketing, and increasing adoption of advanced technologies are expected to further accelerate the growth of beacon market.
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