Pune, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The Smart Beacons Market, as reported by SNS Insider, saw a valuation of USD 3.3 billion in 2022. It is projected to reach USD 42.90 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 37.8% during the forecast period spanning from 2023 to 2030.
Market Overview
Smart beacons, often referred to simply as "beacons," are small, low-energy, wireless devices equipped with Bluetooth technology. Their primary purpose is to transmit signals to nearby smartphones or other compatible devices. These signals are then utilized to determine the precise location of the device in relation to the beacon. The fundamental concept behind smart beacons is to provide contextual information and proximity-based interactions to users.
Download Free Sample PDF Brochure: https://www.snsinsider.com/sample-request/3850
Market Analysis
The retail sector has undergone a significant transformation with the advent of smart beacons. These devices allow retailers to engage with customers in a more targeted and efficient manner. Through beacon-triggered notifications and offers, businesses can boost sales, increase customer loyalty, and gain valuable insights into consumer behavior, ultimately driving the growth of the smart beacons market. Smart beacons are increasingly being integrated with IoT ecosystems. This integration enhances the automation and connectivity of devices, resulting in a more streamlined and efficient environment. For instance, in smart buildings, beacons can assist in asset tracking, energy management, and security, contributing to the growing adoption of smart beacons across various industries. Advances in beacon technology have resulted in more reliable and cost-effective solutions. The development of low-energy Bluetooth protocols, such as Bluetooth Low Energy (BLE), has extended the battery life of beacons, reducing maintenance costs and making them more accessible to a broader range of applications.
Smart Beacons Market Overview & Scope:
| Report Attributes | Details |
| Market Size in 2022 | USD 3.3 billion |
| Market Size by 2030 | USD 42.90 billion |
| CAGR | CAGR of 37.8% over 2023-2030 |
| Key Segments | By Standard Type (iBeacon, Eddystone, Others) By Connectivity (Bluetooth Low Energy (BLE), WiFi, Hybrid) By Offering (Hardware, Software, Service) By End User (Retail, Hospitality, Transportation & Logistics, Healthcare, BFSI, Education, Others) |
| Key Market Players | Estimate, Inc., io (Poland), Cisco Systems Inc., Aruba-Hewlett Packard Enterprise Company, Bluvision-HID Global Company, Leantegra Inc., Gimbal, Inc., Bluvision-HID Global Company, Accent Advanced Systems, Sensor Co., Ltd, SLU, Swirl Networks and other players |
| 20% free customization scope (equivalent to 50 analyst working hours) | If you need specific information as per your business requirement, which is not currently within the scope of the report, we will provide it to you as a part of customization. |
| Pricing & Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options. |
Key Takeaway from Smart Beacons Market Study
- iBeacon has emerged as a prominent segment, poised to dominate the market. Developed by Apple, iBeacon leverages Bluetooth Low Energy (BLE) technology to enable precise indoor positioning and proximity detection. The iBeacon segment offers numerous advantages to businesses, making it an attractive choice for retailers and various other industries.
- The retail segment of the smart beacons market has witnessed significant growth due to the immense benefits it offers to both retailers and customers. Retailers are increasingly turning to smart beacons to gain a competitive edge in an ever-evolving marketplace.
Recent Developments
- Beacon Power Services, a burgeoning Nigerian energy tech company, has successfully closed a substantial $2.7 million seed round, marking a significant milestone in its quest to revolutionize the energy landscape in Nigeria and beyond. This recent infusion of capital will undoubtedly empower Beacon Power Services to accelerate its mission to provide sustainable, affordable, and reliable energy solutions to the Nigerian market.
- The worlds of blockchain technology and cryptocurrency have witnessed a historic merger as the Binance Smart Chain and BNB Beacon Chain have come together under a new unified brand. The synergies between these chains aims to accelerate the development of decentralized applications, making them more accessible and affordable for users worldwide.
Ask For Customized Report As Per Your Business Requirement: https://www.snsinsider.com/enquiry/3850
Market Dynamics Analysis
One of the key drivers propelling the market's growth is the increasing demand for location-based services and proximity marketing solutions. Smart beacons enable precise, real-time location tracking, facilitating personalized experiences for consumers and improving operational efficiency for businesses. Furthermore, the rising adoption of smart cities and the Internet of Things (IoT) is another significant driver, as smart beacons play a pivotal role in enhancing urban infrastructure and public services. On the other hand, there are restraints to consider, such as concerns regarding privacy and data security, which have led to regulatory scrutiny. The saturation of the market with multiple proprietary beacon protocols can also pose challenges for interoperability and adoption. In addition, the threat of competition from alternative technologies like RFID and Wi-Fi-based solutions is an ever-present concern for smart beacon manufacturers. Despite these challenges, the smart beacons market continues to expand, driven by the promise of seamless, context-aware user experiences and the integration of beacon technology into various industries, ranging from retail and healthcare to transportation and logistics.
Key Regional Developments
North America, particularly the United States, has been at the forefront of innovation in the smart beacons market. The region's advanced infrastructure, coupled with a high level of consumer tech-savviness, has created a conducive environment for smart beacon deployment. Europe has seen significant growth in the adoption of smart beacons, with retail and transportation being the primary drivers. Retailers in the region are using smart beacons to personalize in-store shopping experiences, deliver location-based offers, and gather valuable customer insights. The Asia-Pacific region is witnessing rapid growth in the market, driven by the rising demand for location-based services and the booming e-commerce industry.
Impact of Recession
The impact of an ongoing recession on the smart beacons market is a complex interplay of challenges and opportunities. Recessions often encourage businesses to innovate and diversify their product offerings to cater to new market demands. In the case of smart beacons, this can lead to the development of new applications and use cases that were previously unexplored. For example, smart beacons may find applications in contactless delivery services, helping businesses adapt to changing consumer preferences driven by the recession.
Buy This Exclusive Report: https://www.snsinsider.com/checkout/3850
Table of Content
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Smart Beacons Market Segmentation, By Standard Type
8.1 iBeacon
8.2 Eddystone
8.3 Others
9. Smart Beacons Market Segmentation, By Connectivity
9.1 Bluetooth Low Energy (BLE)
9.2 WiFi
9.3 Hybrid
10. Smart Beacons Market Segmentation, By Offering
10.1 Hardware
10.1.1 Standard Beacon
10.1.2 Sticker Beacon
10.1.3 Card Beacon
10.2 Software
10.3 Service
11. Smart Beacons Market Segmentation, By End User
11.1 Retail
11.2 Hospitality
11.3 Transportation & Logistics
11.4 Healthcare
11.5 BFSI
11.6 Education
11.7 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.5 USA
12.2.6 Canada
12.2.7 Mexico
12.3 Europe
12.3.1 Eastern Europe
12.3.1.5 Poland
12.3.1.6 Romania
12.3.1.7 Turkey
12.3.1.8 Rest of Eastern Europe
12.3.2 Western Europe
12.3.2.4 Germany
12.3.2.5 France
12.3.2.6 UK
12.3.2.7 Italy
12.3.2.8 Spain
12.3.2.9 Netherlands
12.3.2.10 Switzerland
12.3.2.11.1 Austria
12.3.2.12 Rest of Western Europe
12.4 Asia-Pacific
12.4.5 China
12.4.6 India
12.4.7 Japan
12.4.8 South Korea
12.4.9 Vietnam
12.4.10 Singapore
12.4.11 Australia
12.4.12 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East
12.5.1.5 UAE
12.5.1.6 Egypt
12.5.1.7 Saudi Arabia
12.5.1.8 Qatar
12.5.1.9 Rest of Middle East
12.5.2 Africa
12.5.2.5 Nigeria
12.5.2.6 South Africa
12.5.2.7 Rest of Africa
12.6 Latin America
12.6.5 Brazil
12.6.6 Argentina
12.6.7 Colombia
12.6.8 Rest of Latin America
13.Company profile
13.1 Estimate, Inc. (US)
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 io (Poland)
13.3 Cisco Systems Inc. (US)
13.4 Aruba-Hewlett Packard Enterprise Company (US)
13.5 Bluvision-HID Global Company (US)
13.6 Leantegra Inc. (US)
13.7 Gimbal, Inc. (US)
13.8 Bluvision-HID Global Company (US)
13.9 Accent Advanced Systems, Sensor Co., Ltd (US)
13.10 SLU (Spain)
13.11 Swirl Networks (US)
14. Competitive Landscape
14.1 Competitive Bench marking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
Read Full Report: https://www.snsinsider.com/reports/smart-beacons-market-3850
About SNS Insider
At SNS Insider, we believe that businesses should have access to the best market intelligence and insights, regardless of their size or industry. That's why we offer a range of solutions tailored to meet the unique needs of each client, from startups to big corporations. With a passion for our work and an unwavering commitment to delivering value, we are dedicated to helping our clients achieve their full potential.
