Beacon technology was first introduced by the Apple Inc., at the Apple Worldwide Developers Conference in 2013. The devices which implement iBeacon protocol can send the universally unique identifier (UUID) signal. A new beacon format by Google was introduced in 2015, named Eddystone, which is open source and can send three types of signals UID, URL, and TLM. Apart from this, many other types of beacons are available in the beacon market such as AltBeacon by Radius Network (launched in 2014) and GeoBeacon by Techno-World (launched in 2017). AltBeacon and GeoBeacon both are open sources and compatible with other mobile platforms.

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Bluetooth Low Energy (BLE) beacons are witnessing an increasing penetration across several industries, such as retail and in events and stadiums. Apart from retail applications, the BLE beacons are projected to become a common solution in industrial applications. It is used for several purposes in these industries, which includes machine/equipment status observation and asset tracking in high volume verticals.

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Real estate is one such vertical where businesses are taking a significant interest in using BLE beacon technology, in order to boost customers’ experience, attract buyers, capture leads, and in-property engagement. Moreover, the growing integration of beacons in cameras, point of sale (POS) devices, LED lightings, digital signage, and vending machines is further finding the integration of BLE beacon technology.

Untapped Markets Could Offer Enormous Growth Opportunities to the Beacon Manufacturers

Emerging economies such as India, Indonesia, Malaysia, UAE, Brazil, South Africa, and others have substantial opportunities for beacon market growth due to various smart city projects in these economies. Digitalization is at a much rapid pace in these economies and the governments and public organizations are taking initiatives to develop smart infrastructure within the country.

Various organizations have taken significant initiatives for the digitization in these markets and provide funds for the establishment of beacon-based indoor positioning and indoor navigation (IPIN) systems in such regions. This augments the expansion of global beacon market size. The government can collaborate with the market players to improve the development of innovative technologies such as IPIN deployment and for smart city projects in these emerging economies. This would create new opportunities for market players by introducing new solutions and systems in order to promote the growth of the market during the forecast period.

Current Market Trends Covered in the Global Beacon Market Report

BLE-based beacons are estimated to enjoy the maximum market share over the forecast period.
Asia-Pacific is expected to gain maximum traction in the global beacon industry during the forecast period.
Based on the application segment, retail is expected to hold the largest market share over the forecast period.

Global Beacon Market Segmentation

By Beacon Protocol

iBeacon
Eddystone
AltBeacon
Others

By Location Technology

Bluetooth Low Energy (BLE)
Wi-Fi
Ultrasound
Others (Combined Technology)

By Application

Retail
Healthcare
BFSI
Logistics and Warehouses
Others (Travel, Tourism & Hospitality)

Global Beacon Market – Segment by Region

North America

US
Canada

Europe

Germany
UK
France
Spain
Italy
Rest of Europe

Asia-Pacific

China
Japan
India
Rest of Asia-Pacific

Rest of the World

Latin America
Middle East and Africa

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