NEW YORK, Dec. 18, 2017 /PRNewswire/ -- The overall
smart beacon market is expected to grow at a CAGR of 56.2% between
2017 and 2023.
Read the full report: https://www.reportlinker.com/p05251508
The smart beacon market is expected to be valued at USD 1,363.6 million in 2017 and is likely to
reach USD 19,805.5 million by 2023,
at a CAGR of 56.2% between 2017 and 2023. The growing need for
spatial data, which can be used to analyze the current demographic
trend, primarily in the retail industry, is driving the growth of
the market. Further, adoption of smartphones, primarily in APAC, is
contributing to the growth of the smart beacon market. However,
security and privacy concern, and restricted sensing capabilities
due to limitations in underlying BLE technology may pose as
challenges to the market growth.
The smart beacon market for transportation and logistics is
expected to grow at the CAGR between 2017 and 2023.
The market for transportation and logistics is expected to grow at
the highest CAGR during the forecast period. This can be attributed
to smart beacon's capability to save time and cost as well as to
track assets in real time, thereby providing a competitive
advantage to the end users.
The market for Eddystone is expected to witness a significant
growth between 2017 and 2023.
The market for Eddystone is expected to grow at a significant CAGR
during the forecast period as it provides an extended feature to
iBeacon and sends 4 packets as a part of Bluetooth connectivity
signal. Google launched Eddystone as an open protocol in 2015, and
since then, it is being adopted considerably in the smart beacon
market. It is specifically developed for Android users; however, it
has an interoperability feature to power highly specific
user-facing apps.
Europe held the largest share
of the smart beacon market in 2016; and the market in APAC is
expected to grow at the highest CAGR during the forecast
period.
Europe is expected to hold the
largest share of the smart beacon market by 2023 owing to the high
traction of beacon technology and growing need for technologically
advanced marketing platforms among the end users to capture the
shares in the respective markets. In addition, Europe is an early adopter of the technology,
and the customers in this region have accepted the technology
seamlessly.
APAC is expected to witness significant growth due to the growing
traction of the beacon technology in China and Australia. Further, the market is still in a
nascent stage in this region and has a lot of potential for
growth.
Break-up of the profiles of primary participants:
• By Company Type: Tier 1 – 60%, Tier 2 – 33%, and Tier 3 – 7%
• By Designation: C-Level Executives – 79%, and Managers – 21%,
• By Region: APAC – 13%, North
America – 51%, Europe –
31%, and RoW – 5%
Some of the key players in the smart beacon market are Estimote
(US), Aruba (A Hewlett Packard
Enterprise Company) (US), Kontakt.io (Poland), Cisco (US), Bluvision (An HID Global
Company) (US), Onyx Beacon (Romania), Leantegra (US), Gimbal (US), Accent
Systems (Spain), Swirl Networks
(US), Sensoro (US), JAALEE Technology (China), Beaconinside (Germany), Blesh (US), and BlueUp (Italy).
Research Coverage:
This research report segments the global smart beacon market on the
basis of beacon standard, connectivity type, offering, end use, and
geography. The report discusses the major drivers, restraints,
challenges, and opportunities pertaining to the market, and also
includes value chain and market ranking analyses.
Reasons to Buy the Report
The report would help leaders/new entrants in this market in the
following ways:
1. This report segments the smart beacon market comprehensively and
provides the closest market size estimation for subsegments across
different regions.
2. The report would help stakeholders understand the pulse of the
market and provide them with the information on key drivers,
restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors
better and gain more insights to improve their position in the
business. The competitive landscape section includes competitor
ecosystem along with the strategies adopted by the key market
players, such as product launches and developments, acquisitions,
partnerships, expansions, contracts, and funding.
Read the full report: https://www.reportlinker.com/p05251508
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