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Beacon Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: May 2021
  • Pages: 120
  • SKU: IRTNTR40392
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The beacon market share is expected to increase by USD 13.10 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 56%.

The market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (iBeacon, eddystone, and others) and geography (North America, Europe, APAC, MEA, and South America).

The beacon market report also offers information on several market vendors, including Alphabet Inc., Apple Inc., BlueUp Srl, Estimote Inc., Gimbal Inc., Hewlett Packard Enterprise Development LP, Kontakt.io Inc., KS Technologies Inc., Radius Networks Inc., and Texas Instruments Inc. among others.

Alphabet Inc. - The company offers Bluetooth low energy (BLE) beacons to provide proximity-based experiences for users. The Google segment offer products such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware (including Nest), Search, and YouTube.

What will the Beacon Market Size be During the Forecast Period?

Beacon Market Size

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Parent Market Analysis

Technavio categorizes the global beacon market as a part of the global electronic equipment and instruments market within the overall electronics market. Our research report extensively covers external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Beacon Market: Key Drivers, Trends, and Challenges

The augmented adoption of beacon technology by diversified end-users is notably driving the market growth, although factors such as concerns over data security and privacy may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Beacon Market Driver

  • One of the key factors driving growth in the market is the augmented adoption of beacon technology by diversified end-users.
  • Beacons are increasingly being adopted in various end-user industries, such as retail, hospitals and healthcare facilities, banks, and museums. These devices help retailers in identifying customers based on their interests, location, and potential.
  • The above-mentioned advantages of beacons make them highly advantageous for retailers. Hence, the increasing adoption of beacons by the retail industry is expected to increase significantly during the forecast period. 

Key Beacon Market Challenge

  • The benefits of proximity beacon marketing will be a major challenge for the market during the forecast period.
  • In recent years, there has been an increasing preference for proximity marketing due to several factors, such as improved customer relationships, enhanced personalized experience for customers, high possibility of conversion to successful sales, and lower costs when compared with traditional marketing. Moreover, the increase in smartphone penetration has led to the growth of proximity marketing.
  • More than 80% of smartphone users' purchases are impacted by the online information available on the product. In addition, beacons are portable devices that can be installed easily and do not require an Internet connection to connect to smartphones. They just require a mobile app that can pick the beacon signals without an Internet connection and store data locally on the device. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Beacon Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain and parent market of the beacon market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also optimization and evaluation of business strategies. The players across the value chain include selective data and analysis from entire research findings as per the scope of the report.

Which are the Key Regions for Beacon Market?

Beacon Market Share by Geography

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38% of the market’s growth will originate from North America during the forecast period. The US is the key market for beacon in North America. Market growth in this region will be faster than the growth of the market in the South American regions.

North America is projected to account for the largest share of the global market during the forecast period. This is due to the presence of well-established vendors, such as Estimote Inc., Gimbal, Inc., and Radius Networks Inc., in the region, especially in Canada and the U.S. This will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What is the Fastest-Growing Type Segment in the Beacon Market?

Beacon Market Share

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The market share growth by the iBeacon segment will be significant during the forecast period. The growing demand for iBeacons from various industries for business growth, to increase customer loyalty, and gain a deeper understanding of customers will spur the growth of the global market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment. 

Beacon Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 56%

Market growth 2021-2025

USD 13.10 billion

Market structure

Fragmented

YoY growth (%)

52.00

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 38%

Key countries

US, China, Germany, Japan, and UK

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Apple Inc., BlueUp Srl, Estimote Inc., Gimbal Inc., Hewlett Packard Enterprise Development LP, Kontakt.io Inc., KS Technologies Inc., Radius Networks Inc., and Texas Instruments Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Beacon Market Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive market growth during the next five years
  • Precise estimation of the market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behaviour
  • The growth of the market industry across North America, Europe, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive analysis of factors that will challenge the growth of market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Type

    • Market segments
    • Comparison by Type
    • iBeacon - Market size and forecast 2020-2025
    • Eddystone - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Type

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Alphabet Inc.
      • Apple Inc.
      • BlueUp Srl
      • Estimote Inc.
      • Gimbal Inc.
      • Hewlett Packard Enterprise Development LP
      • Kontakt.io Inc.
      • KS Technologies Inc.
      • Radius Networks Inc.
      • Texas Instruments Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      Beacon market growth will increase by $15.99 billion during 2019-2024.
      The beacon market is expected to grow at a CAGR of 56.89% during 2019-2024.
      Technavio has segmented the beacon market by type (iBeacon, Eddystone, and Others) and geographic (North America, Europe, APAC, and South America).
      Apple Inc., BlueUp Srls, Estimote Inc., Gimbal Inc., Google LLC, Hewlett Packard Enterprise Co., Kontakt.io Inc., KS Technologies Inc., Radius Networks Inc., Texas Instruments Inc. are a few of the key vendors in the beacon market.
      North America will register the highest growth rate of 41.71% among the other regions. Therefore, the beacon market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the beacon market growth are:
      • Augmented adoption of beacon technology by diversified end-users
      The beacon market vendors should focus on grabbing business opportunities from the ibeacon segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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