Global Beacon Market is Estimated to Reach $14.83 Billion By 2024: AMR

Rise in investment in proximity marketing and improved features of beacon such as employee & asset monitoring, safety & security, and others fuel the growth in the global beacon market. North America held the major market share in 2018, accounting for more than two-fifths of the total market share. This region would maintain its lead throughout the forecast period.


Portland, July 15, 2019 (GLOBE NEWSWIRE) -- According to the report by Allied Market Research, the global beacon market garnered $837.7 million in 2018 and is estimated to reach $14.83 billion by 2024, registering a CAGR of 61.5% from 2018 to 2024. The research provides an extensive analysis of current market dynamics, major segments, key investment pockets, and competitive intelligence.

A rise in investment in proximity marketing and improved features of beacon such as employee & asset monitoring, safety & security, and others fuel the growth in the global beacon market. However, concerns related to privacy and security restrain market growth. On the other hand, a surge in organized retail provides new opportunities in the market.

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iBeacon segment to continue its dominance during the forecast period:

Based on type, the iBeacon segment held the largest revenue share in 2018, contributing more than two-fifths of the total market share. This segment is expected to continue its dominance throughout the forecast period. On the other hand, the AltBeacon segment would register the highest CAGR of 64.7% from 2018 to 2024. The report also analyzes Eddystone and others.

BLE segment to maintain its dominant position in terms of revenue by 2024:

Based on technology, the BLE segment accounted for more than four-fifths of the total share in 2018 and is expected to maintain its dominant position during the forecast period. On the other hand, combined technology is estimated to register the highest growth rate with a CAGR of 69.5% from 2018 to 2024. The research also analyzes Wi-Fi and ultrasound technologies.

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North America to maintain its lead throughout the forecast period:

North America held the major market share in 2018, accounting for more than two-fifths of the total market share. This region would maintain its lead throughout the forecast period. Contrarily, the Asia-Pacific region would grow at the highest CAGR of 67.2% from 2018 to 2024.  

Key market players:

Key market players explored in the research include Advanced system, Apple Inc., SLU, Blue Sense Networks, BlueCats, Gelo, Estimote, Inc., Gimbal, Kontakt.io, Glimworm Beacons, and Beaconinside GmbH. They have adopted various strategies including expansions, collaborations, partnerships, joint ventures, mergers & acquisition, and others to gain a strong position in the industry.

About us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.


            

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