Infinium Global Research’s recent report on the “Smart Beacon Market (By Standard Type (iBeacon, Eddystone, and Others), By Connectivity (Bluetooth Low Energy [BLE], Wi-Fi, and Hybrid) and By End-User (Retail, Hospitality, Transportation & Logistics, Healthcare, BFSI, Education, and Others))) Global Industry Analysis, Trends, Market Size & Forecasts to 2030” provides a comprehensive outline of the factors responsible for the growth of the market.
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Industry 4.0 is transforming a significant transition in modern businesses. Industries and firms are moving towards digitalization and automation. The function of beacons in retail and marketing is still being defined, Major organizations in manufacturing, retail, and even healthcare sectors are becoming aware that beacon infrastructures are likely to aid in transparency and guide inefficient day-to-day operations. Moreover, key companies in the market like Google and Apple, multinational technology companies are aggressively promoting beacon technology, along with successful business use cases developing in retail stores, airports, and other locations throughout the world, the smart beacon market is expected to propel at a faster rate.
The COVID-19 pandemic has moderately impacted the global smart beacon market growth. The negative impact on the market due to the lockdowns imposed by governments across the globe slowed down operational activities and also affected smart beacon sales. Furthermore, the increasing digitalization and automation efforts taken by manufacturers and retailers are expected to boost the use of smart beacons in the forecasting years.
Retail Sector to Dominate for a Significant Share of Smart Beacon Market
The retail sector is estimated to dominate in the global smart beacon technology market. Retail includes retail stores, shopping malls, cafés and restaurants, hotels and tourism, airports, stadium, sports and cinemas, and theatre. The technology is also appropriate for public buildings with shopping areas, including airports and railway stations. Furthermore, owing to the growth in retail sales, smartphones have entirely transformed the way, people shop. Moreover, for improving the experience of customers, and increasing operational efficiency, retailers are majorly increasingly using beacon technology that will further give a boost to the segmental growth of the market. Most retailers make sure that their customers can be tracked. This includes customers who do not download their own particular app. In Market covers around 38% of millennial moms, around one-quarter of all smartphones, and tracks 50 million people every month.
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The Asia Pacific Region to be Expected as the Fastest-growing Region in the Smart Beacon Market
In terms of region, North America generated the largest revenue in the global Smart Beacon market in 2020. Around 200 million Android and Apple devices in North America would be employing smart beacon technology. Moreover, the increasing adoption of new technology by the end-user industries will dominate its growth in the upcoming years also. New product launches by key market players are another key factor fostering the growth of the market. Furthermore, the Asia Pacific region is expected to grow at the fastest rate in the Smart Beacon market over the forecast period. Countries such as China, India, and Japan, are developing significantly, and growing income will further create an opportunity for the smart beacon market in this region. Technological advancements in smartphones and rising smartphone users have further augmented the connectivity of objects through IoT in various places such as shopping malls, airports, and other public places.
Key Players Focusing to Increase the Production Capacity by Collaborating with Other Companies
The Smart Beacon market is intensely competitive with the presence of several multinational and local players. The major player’s Cisco Systems Inc, Leantegra Inc., Kontakt.io Inc., Fujitsu Components Ltd, Gimbal Inc., HID Global Corporation, Accent Systems, Onyx Beacon, Beaconinside, Sensoro, Estimote, JAALEE Technology, and several others are constantly focusing on developing new products to gain a competitive edge in the market. These companies are adopting numerous market strategies including new product launches, collaboration, and mergers & acquisitions with numerous companies at the country level. For instance, in December 2021, Car-lite and Sigfox launch an intelligent light beacon based on the 0g network.
The new beacon has been designed and developed by CAR-LITE and its technology will enable automatic alerts to be sent to the relevant road safety authorities and will precisely geolocate the location of damaged vehicles, without the need for an Internet connection, Wi-Fi, or SIM cards, as it is based on Sigfox 0G network, the global network designed by and for the IoT. Infinium Global Research’s recent report on the global Smart Beacon market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the Smart Beacon market and also estimates the impact of recent developments in the global market.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of smart beacon.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
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