Smart Beacon Market to reach USD 19,805.5million by 2023, at a CAGR of 56.2% between 2017 and 2023.
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Smart beacon market is a comprehensive research and growth report added on ReportsnReports.com.com. The Smart Beacon Market is expected to be valued at USD 1,363.6million in 2017 and is likely to reach USD 19,805.5million by 2023, at a CAGR of 56.2% between 2017 and 2023.
Smart beacon market companies 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).
Download PDF Brochure of Smart Beacon Market spread across 124 Pages, Profiling 15 Companies and Supported with 66 Tables and 30 Figures is now available at http://www.reportsnreports.com/contacts/requestsample.aspx?name=1256186 .
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 smart phones, 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.
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“The market for Eddy stone is expected to witness a significant growth between 2017 and 2023.”
The market for Eddy stone 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 Eddy stone 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.
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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%
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Source: MarketersMedia
Release ID: 381265
