Bluetooth low energy beacon market is likely to expand at 26.8% CAGR during the review period (2018 to 2025), reveals Market Research Future (MRFR). The growing application of BLE beacons across different sectors is expected to cause hike in the value of the global BLE beacon market. MRFR study suggests that the bluetooth beacon market is expected to increase to worth, estimated at USD 15.49 Billion by 2025 from USD 3.12 Billion in 2018. The BLE beacons market 2020 is likely to expand at a considerable growth rate due advantages offered by BLE beacons technology. Low impact on battery life, accessibility without internet connection, and high traction through personal advertising are expected to win high profits for the global market of BLE beacons.
The segmental study of BLE Beacons Market Size is done on the basis of type and application.
The BLE beacons market’s type-based segments are Eddystone, Ibeacon, and others. The Bluetooth low energy beacon released by Google in 2015, Eddystone is experiencing high rate of adoption across different end-users. It is open-source technology and is available on GitHub. Thus cost-effectiveness of Eddystone is observed to gain high traction that is expected to spur the expansion of the market. It is flexibility and allows seamless run on Chrome app. Benefits, such as convenience and easy accessibility are likely to cause the Eddystone segment win high profits for the market. The iBeacon technology is not an open source. However, its standard specifications are managed by Apple. As people are inclining towards quality and are readily paying hefty amount in return of high quality services, the adoption rate of iBeacon is high. Unlike Eddystone, iBeacon uses only a unique ID number to broadcast. This feasibility is noted adding momentum to the market.
The BLE beacons market’s application-based segments are healthcare, retail, media & entertainment, manufacturing, travel & tourism, and education. The global BLE beacons market is expected to gain from increase in iBeacon technology in the travel and tourism, and entertainment industry. In addition, the on-going trend of distance education is expected to propel the global market growth.
The BLE Beacon market in North America is likely to lead in the global market across the review period. The major factor that is identified to fuel the expansion of the regional market is the high concentration of key players in the US and Canada. The growing adoption of adoption of cloud, proximity marketing, and internet-based communication systems are other causes that are responsible for the expansion of the North America market. The expeditious expansion of travel and tourism, and healthcare industries that are high end-users, can boost the Europe BLE beacon market. The market in Asia Pacific can generate substantial revenue owing to factors, such as increase in the number of organized retails in countries, such as South Korea, India, and China. The growing number of smartphone ownership, pragmatic shift towards digitization, and availability of affordable connection solutions are additional factors that are likely to spur the BLE beacons market growth in these economies.
MRFR’s list of key players of the BLE beacons market includes BlueCats, UFO Beacons, Mobstac Inc, Proximity Solutions, K2B Solutions, Estimote Inc., Hewlett Packard Enterprise Development LP, Gelo, Google LLC, JK Technosoft, and Apple Inc. These key players are expected to contribute largely to the expansion of the BLE beacons market. Upgradation of BLE beacon technology by different enterprises is expected to cause expansion of the worldwide BLE beacons market 2020. The emergence of new companies and development in products bought by new companies are expected to spur the growth of the global market in the review period.
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