NEW YORK, Jan. 13, 2016 /PRNewswire/ -- Market overview of Bluetooth beacons in retail
Technavio€™s market research analyst expects the global Bluetooth beacons market in retail to grow at a remarkable CAGR of around 17% during the forecast period. Since a substantial contribution in the retail industry comes from organized retail, which include hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash & carry stores, the growth in organized retailing is expediting the growth of the Bluetooth beacons devices market.
Multichannel marketing as well as in the product distribution in the retail industry has become one of the major trends, which is driving the growth of the market. Bluetooth beacons manufacturers are following this trend and are developing software apps for beacons as well as manufacturing beacon devices. One such example is that Estimote, a top beacon device manufacturer, is developing mobile software app for both the iOS and Android platform.
Geographical segmentation of the Bluetooth beacons market in retail
ROW (Latin America and MEA)
North America has the largest penetration of organized retails, hence this region generates the majority of the revenue in the Bluetooth beacons market in the retail industry. The US being the largest market in this region, holds a market share of close to 84% in terms of the shipments of beacon devices as of 2015.
Segmentation by technology standard of the Bluetooth beacons market in retail
The iBeacon technology, which was launched by Apple in late 2013 commands over the Bluetooth beacons market in the retail industry with an enormous share of over 77% as of 2015. However, as per Technavio€™s estimation, the Eddystone technology is expected to grow at a higher CAGR than iBeacon, and it is likely to get close to the market share of iBeacon during the forecast period.
Competitive landscape and key vendors
The global Bluetooth beacons device market is still in its nascent stage as the technology as well as the product is relatively new in the market. Most of the retailers are deploying the beacon devices in try and test mode, and the vendors are at present not in for aggressive marketing for their products. Nevertheless, manufacturers have now started to innovate the end products using the same and standardized technology available in the global market.
The key vendors in this market are -
The other prominent vendors in the market include Blue Sense Networks, Gelo, Glimworm Beacons, Onyx Beacon, and Sensorberg.
Key questions answered in the report
What will the market size and the growth rate be in 2020?
What are the key factors driving the global Bluetooth beacons market in retail?
What are the key market trends impacting the growth of the global Bluetooth beacons market in retail?
What are the challenges to market growth?
Who are the key vendors in the global Bluetooth beacons market in retail?
What are the market opportunities and threats faced by the vendors in the global Bluetooth beacons market in retail?
Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global Bluetooth beacons market in retail?
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