Fort Collins, Colorado, Feb. 05, 2024 (GLOBE NEWSWIRE) -- The Smart Beacon Market size was valued at USD 5.7 Billion in 2022 and is anticipated to reach USD 127.4 Billion by 2032 at a CAGR of 36.6% during the forecast period 2023-2032.
Numerous industries are leveraging beacon solutions to monitor and interact with their customers. With the advent of sophisticated communication technologies, augmented investments in proximity marketing, and the increasing adoption of smart devices, the smart beacon market is witnessing significant growth.
Proximity marketing targets potential customers with personalized advertisements based on location, leading to improved customer relationships and enhanced personalized experiences. The increase in mobile penetration fuels the growth of proximity marketing.
Smart beacons, enabled by AI and IoT, have enhanced connected applications and improved user experiences. In recent years, beacon technology has transformed the Bluetooth industry and is set to dominate industrial applications.
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Segmentation Overview:
The global smart beacon market has been segmented by connectivity, standard type, end-use, and region. The iBeacon segment is the top contributor to the market and is expected to grow. Companies have developed iBeacon-compatible transmitters that broadcast their presence to nearby mobile devices over Bluetooth low energy. Bluetooth Low Energy is the highest contributor to the market and has applications in the medical, fitness, beacon, security, and home entertainment sectors.
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Smart Beacon Market Report Highlights:
- The global smart beacon market growth is anticipated at a CAGR of 36.6% by 2032.
- Beacon market is rising due to advanced communication technologies, IoT, and AI. Proximity marketing is a key driver, which targets customers with tailored ads based on location, leading to better customer relationships. Smart beacons improve user experiences, and with increasing mobile penetration, the beacon market is set to dominate the industry.
- Europe dominates the global smart beacon market and is expected to grow during the forecast period due to major corporations' strategic initiatives in nations like Germany, the United Kingdom, Spain, France, Italy, and others.
- Some prominent players in the smart beacon market report include Fujitsu Components Ltd., Radius Networks, Kontakt.io, Cisco System, Estimote, Leantegra Inc., JAALEE Technology, HID Global, Accent Systems, and Sensoro Co. Ltd.
Industry Trends and Insights:
- Dell Technologies and Fujitsu have announced a collaboration to accelerate the adoption of Open RAN globally.
- Kontakt.io has unveiled Portal Light 2 and Portal Light 2 IR, two new products designed to redefine indoor IoT connectivity.
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Smart Beacon Market Segmentation:
By Connectivity: Wi-Fi, Hybrid, Bluetooth Low Energy
By Standard Type: iBeacon, Eddystone
By End-use: Retail, hospitality, transportation and logistics, healthcare, BFSI, education
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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