Bluetooth Beacon and iBeacon Market Report

Bluetooth beacons are small, portable, typically battery-powered devices that use Bluetooth Low-Energy technology to send radio signals at regular intervals of time. Beacons distribute advertising, facilitate navigation, and gather consumer information. As a result, beacons have become one of the most effective methods to build relationships with customers in the real world. They help to improve customer engagement and gather crucial information about customer behavior. Small-coin cell devices, USB sticks, and universal Bluetooth 4.0-capable USB dongles are just a few of the different form factors available for Bluetooth beacon transmitters. The market for Bluetooth beacons and iBeacon is anticipated to grow at a significant rate during the forecast period. The increasing use of beacons across different sectors in an effort to engage customers, the rising popularity of smartphones, and technological advancements are all responsible for market expansion.

Some of the main factors driving the growth of the global iBeacon and Bluetooth Beacon market are rising awareness about iBeacon technology, growing number of accessories, low power requirement and low cost, growing smartphone usage, and increasing purchasing power of consumers leading to the market growth. Moreover, businesses are focusing more on leveraging technologies like big data, and the Internet of Things (IoT) among others in order to achieve high conversion rates and better operating efficiency. The Bluetooth beacon technology enables us to determine the right time and place of target customers, and analyze customer preference data to enhance the shopping experience by curating personalized coupons, product recommendations, and offers for customers. The iBeacon uses Bluetooth Low Energy (BLE) Technology which makes the iBeacon affordable, accessible, and scalable. Furthermore, easy installation, increasing app use, and affordability of beacons are driving the market for beacons.

• Beacon technology advancing IoT applications in smart cities.
• Rise of beacon-based asset tracking in logistics and supply chain.
• Beacon adoption in healthcare for patient tracking and monitoring.
• Emergence of ultra-low-power beacons for extended battery life.

Users of iBeacon and Bluetooth beacons are likely to encounter difficulties with the limited transmit-only protocol (no bidirectional communications between two devices), frequency variance (do not have the same frequency and do not transmit signals of the same power), privacy and security concerns, variations in signal accuracy brought on by weather, device power, temperature, and polling intervals, as well as challenges related to these issues. As a result, users are less likely to embrace iBeacon and Bluetooth beacons, which in turn limits the growth of the iBeacon and Bluetooth beacon markets globally. Despite the fact that iBeacon technology is relatively new, there are a lot of misconceptions about it. Some of the misconceptions surrounding them include the claims that iBeacon only works with iPhones, they consume a lot of battery power, they track the exact location of the user, and they can only be used inside a building. Such misconceptions are anticipated to impede the expansion of the market.

Manufacturers are implementing a variety of marketing strategies, such as new product launches, regional growth, mergers and acquisitions, partnerships, and collaboration, in order to gain the interest of prospective customers and build a broader customer base. For instance, in March 2022, Segway, a leading global enterprise in the field of transportation and service robots, declared its most recent invention, the Bluetooth Parking Beacon, which combines Bluetooth capabilities with the Ninebot GEN3 IoT technology in the vehicle which transforms micro-mobility parking solutions. The Beacon's increased parking accuracy in areas with poor satellite signal reception, such as streets and parks surrounded by tall buildings and carports, is made possible by this technological power combination. To the delight of users, residents, and government officials, this contributes to a reduction in disorderly parking and littering on roads. Moreover, in February 2021, Pointr, a global technology leader in Indoor Location technology, released its deep Location Platform which uses numerous technological calculations in order to provide incredibly accurate interior positioning and indoor navigation.

The Bluetooth beacon and iBeacon market is anticipated to gain traction in the North American region during the forecast period. This can be attributed to the organized retail sector and the growing adoption of Bluetooth beacon and iBeacon services.  The market in the Asia-Pacific region is expected to expand as the demand for navigational systems rises in the manufacturing and supply sectors. Market growth for beacons has been significantly observed in nations like China, India, and Korea. Additionally, there is an increased demand for beacon products due to the region's expanding organized retail sector of the region. The fields of education and research have also witnessed an increase in market demand. Numerous restaurant chains in the region have also reported using beacon technology more frequently to improve efficiency. Due to the development of organized stores and rising smartphone adoption, the Middle East and Africa region made a significant contribution to the industry growth in the forecast period. The need to increase store sales is anticipated to aid in regional development. With more installations at financial institutions and airports, beacon deployments are also expected to rise.

The report provides a detailed overview of the Bluetooth beacon and iBeacon market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, the Middle East, and Africa. The country-specific assessment for the Bluetooth beacon and iBeacon market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the Bluetooth beacon and iBeacon market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the Bluetooth beacon and iBeacon market. Some key countries and regions included in the Bluetooth beacon and iBeacon market report are as follows:

• Bluetooth beacon and iBeacon market detailed segments and segment-wise market breakdown
• Bluetooth beacon and iBeacon market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in Bluetooth beacon and iBeacon industry)
• Current, historical, and forthcoming 10 years market valuation in terms of Bluetooth beacon and iBeacon market size (US$ Mn), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Bluetooth beacon and iBeacon market demand analysis
• Bluetooth beacon and iBeacon market regional insights with region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in Bluetooth beacon and iBeacon market
• Regulatory landscape by key regions and key countries
• Bluetooth beacon and iBeacon market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on Bluetooth beacon and iBeacon market forecast by countries
• Mergers and acquisitions in Bluetooth Beacon and iBeacon market
• Essential information to enhance market position
• Robust research methodology