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Technavio’s research analyst predicts the global Bluetooth beacon devices market to grow at a staggering CAGR of around 223% by 2020. Bluetooth beacons are mostly used in the retail sector like supermarkets and department stores to track inventory and also to offer discounts to consumers based on their buying patterns. Bluetooth beacons combined with mobile app technology has also helped many companies to increase sales. These devices are expected to revolutionize many sectors of industry with customizable features offered by BLE technology. Manufacturers are working on making these devices more compatible with all mobile platforms.
Bluetooth beacon devices are proving very useful to online retailers as more customers are using mobile apps to shop for every type of imaginable product. Retailers can provide a convenient and customized shopping experience to buyers by suggesting products and also with streamlining the payment process. Both of these work seamlessly and the need for beacon devices is expected to rise during the forecast period. These devices are very inexpensive to manufacture, and since they are compatible with most platforms, their adaptability and uses are endless.
Bluetooth beacon devices have been adapted quite well for use by the retail industry. These help retailers in every sector to keep track of customer preferences and send them information about discounted sales and loyalty points. Information is sent directly to a customer’s smartphone so that they can use the points or avail discounts the next time they are in the store. Surveys indicate that around 70% of shoppers use personalized messages generated by these beacons to make their purchasing decisions.
The Americas dominate the global Bluetooth beacon devices market by accounting for a market share of over 40%. They were the first to adopt this technology, especially in the retail sector. Retailers are taking charge and deploying new and related technologies to test the efficacy of nascent systems. More than half of the retail sector is expected to deploy this technology. This trend creates more opportunities for device manufacturers and software developers to offer cutting edge products. Companies are working on adapting this technology in other ways to improve efficiency.
The Bluetooth beacon devices market is currently very fragmented with a few big vendors and a number of small and medium-sized firms. Recently, it has been observed that many manufacturers are working on innovative products and deploying them in the retail industry to test out their devices.
Key vendors in this market are -
Other prominent vendors in the market include Blue Sense Networks, GE, Gelo, Glimworm Beacons, Onyx Beacon, and Sensorberg.
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Bluetooth beacon devices are equipment that have the capability to broadcast signals that can be recognized by smart devices nearby. The growing preference for multichannel marketing is a significant trend that will influence this market’s growth potential over the next few years. With the help of such devices, enterprises or businesses can create unique customer experiences through location-aware applications.
The global bluetooth beacon devices market is part of Technavio’s hardware and semiconductor research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as computing devices, displays, embedded systems, human machine interface, lighting, semiconductor equipment, and sensors. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.
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