NEW YORK, May 1, 2023 /PRNewswire/ -- The beacon market size is set to grow by USD 31,347.89 million between 2022 and 2027 and register a CAGR of 58.12%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report
The augmented adoption of beacon technology by diversified end users, the benefits of proximity beacon marketing, and the increasing adoption of premium smartphones in emerging economies will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
Beacon Market 2023-2027: Segmentation
- Type
- IBeacon
- Eddystone
- Others
- End-user
- Retail
- Healthcare
- BFSI
- Transportation and Others
- Geography
- North America
- APAC
- Europe
- South America
- Middle East and Africa
The market growth in the IBeacon segment will be significant over the forecast period. IBeacon was introduced by Apple in 2013 at the Worldwide Developer Conference in San Francisco. It is used to provide location-based services and information to iPhones and other iOS and Android devices using BLE wireless technology. It is used by various end-users, such as retail stores, hotels and hospitality, airports, hospitals and healthcare, banks, and museums. All these factors are driving the growth of the segment.
North America will account for 38% of the market growth during the forecast period. The region is home to some of the well-established vendors, such as Estimote Inc., Gimbal, Inc., and Radius Networks Inc. The region is witnessing increased adoption of beacons due to the technological advancements introduced by established vendors in the region. In addition, innovations in beacons made by established vendors drive the growth of the regional market. The increased adoption of beacons in the retail sector is another key factor driving the growth of the beacon market in North America.
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Beacon Market 2023-2027: Vendor Analysis and Scope
The global beacon market is fragmented because of the presence of numerous global, regional, and local vendors. The market consists of players of equal size and power, and therefore, competition among them is high. The global beacon market consists of well-established global players, SMEs, and IT and hardware startups, which intensifies the competition. The investments in product innovation are low, and product differentiation and exit barriers are also low. Hence, the threat of rivalry was moderate in 2022, and it is expected to remain the same during the forecast period. Some of the key vendors covered in the report include:
- Accent Advanced Systems SLU - The company offers beacon products such as IBKS plus, IBKS 105, IBKS card, and IBKS USB.
- Apple Inc. - The company offers beacon services, a new world of possibilities for location awareness and countless opportunities for interactivity between iOS devices and iBeacon hardware.
- ASSA ABLOY AB - The company offers beacon products such as HID Bluetooth low energy beacons and gateways, and HID Bluetooth low energy duress beacons.
- Estimote Inc. - The company offers indoor wayfinding or automatic trigger actions when people enter geofenced areas defined by installed beacons.
- ams OSRAM AG
- Beacon Biosignals Inc.
- Beacon Platform Inc.
- BlueCats Australia Pty Ltd.
- BlueUp Srls
- Chengdu JAALEE Technology Co. Ltd.
- G24 Power Ltd.
- PaeDae Inc.
- Hewlett Packard Enterprise Co.
- Kontakt Micro Location Sp. Z.o.o
- KS Technologies Inc.
The report also covers the following areas:
Beacon Market 2023-2027: Market Drivers
- Driver – The augmented adoption of beacon technology by diversified end users is identified as the major growth driver in the market. The use of beacons is increasing across various end-users such as retail, hospitals and healthcare facilities, banks, and museums. In the retail sector, beacons are installed in shops to improve customer experience. They are used to emit radio signals to locate the consumer and update information in the associated retailer app. These devices also help retailers identify customers based on their interests, location, and potential. In the healthcare industry, beacons are used for asset tracking and real-time patient monitoring. Beacons are attached to assets or points of interest and then paired with a mobile app. It provides personalized messages to patients regarding doctor appointments or prescriptions. Thus, expanding applications of beacons across industries will drive the growth of the market during the forecast period.
- Trend – The increased adoption of beacons in the logistics and transportation industry is identified as the key trend in the market. Businesses operating in the logistics and transportation industry are increasingly adopting beacons to enhance the customer and end-user experience. In logistics operations, shipments move from various warehouses and distribution channels. Shipments moved through different modes of transportation, such as trucks, rail wagons, or cargo aircraft, make it challenging to track shipments when they are transported using different modes. This can be overcome by placing BLE-enabled sensors in each shipment, which can be detected by the beacons installed in each of the supply chain touchpoints. Beacons allow end-users to track the movement of shipments throughout the supply chain. This trend will positively influence the growth of the market during the forecast period.
- Challenge – Inaccuracy in signals and location-based search results will challenge the growth of the market. Bluetooth signals emitted by BLE beacons are sometimes obstructed by massive buildings or structural elements such as bridges. Bluetooth signals are easily absorbed by physical objects, unlike Wi-Fi. This creates signal interference and fluctuations, which ultimately cause stability issues for beacon-triggered data. In addition, due to the scarcity of regional service providers, location-based search providers are unable to provide accurate data. These factors challenge the growth of the market in focus.
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Beacon Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist beacon market growth during the next five years
- Estimation of the beacon market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the beacon market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of beacon market vendors
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Beacon Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 58.12% |
Market growth 2023-2027 |
USD 31,347.89 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
53.8 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, China, India, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Accent Advanced Systems SLU, ams OSRAM AG, Apple Inc., ASSA ABLOY AB, Beacon Biosignals Inc., Beacon Platform Inc., Blesh, BlueCats Australia Pty Ltd., BlueUp Srls, Chengdu JAALEE Technology Co. Ltd., Estimote Inc., G24 Power Ltd., PaeDae Inc., Hewlett Packard Enterprise Co., Kontakt Micro Location Sp. Z.o.o, KS Technologies Inc., Leantegra Inc., MOKOSmart, Radius Networks Inc., and Texas Instruments Inc. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse through Technavio's Industrials Market Reports
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global beacon market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global beacon market 2017 - 2021 ($ million)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 iBeacon - Market size and forecast 2022-2027
- Exhibit 34: Chart on iBeacon - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Data Table on iBeacon - Market size and forecast 2022-2027 ($ million)
- Exhibit 36: Chart on iBeacon - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on iBeacon - Year-over-year growth 2022-2027 (%)
- 6.4 Eddystone - Market size and forecast 2022-2027
- Exhibit 38: Chart on Eddystone - Market size and forecast 2022-2027 ($ million)
- Exhibit 39: Data Table on Eddystone - Market size and forecast 2022-2027 ($ million)
- Exhibit 40: Chart on Eddystone - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Eddystone - Year-over-year growth 2022-2027 (%)
- 6.5 Others - Market size and forecast 2022-2027
- Exhibit 42: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.6 Market opportunity by Type
- Exhibit 46: Market opportunity by Type ($ million)
- Exhibit 47: Data Table on Market opportunity by Type ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 50: Chart on Comparison by End-user
- Exhibit 51: Data Table on Comparison by End-user
- 7.3 Retail - Market size and forecast 2022-2027
- Exhibit 52: Chart on Retail - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Retail - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Retail - Year-over-year growth 2022-2027 (%)
- 7.4 Healthcare - Market size and forecast 2022-2027
- Exhibit 56: Chart on Healthcare - Market size and forecast 2022-2027 ($ million)
- Exhibit 57: Data Table on Healthcare - Market size and forecast 2022-2027 ($ million)
- Exhibit 58: Chart on Healthcare - Year-over-year growth 2022-2027 (%)
- Exhibit 59: Data Table on Healthcare - Year-over-year growth 2022-2027 (%)
- 7.5 BFSI - Market size and forecast 2022-2027
- Exhibit 60: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
- Exhibit 61: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Chart on BFSI - Year-over-year growth 2022-2027 (%)
- Exhibit 63: Data Table on BFSI - Year-over-year growth 2022-2027 (%)
- 7.6 Transportation and others - Market size and forecast 2022-2027
- Exhibit 64: Chart on Transportation and others - Market size and forecast 2022-2027 ($ million)
- Exhibit 65: Data Table on Transportation and others - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Chart on Transportation and others - Year-over-year growth 2022-2027 (%)
- Exhibit 67: Data Table on Transportation and others - Year-over-year growth 2022-2027 (%)
- 7.7 Market opportunity by End-user
- Exhibit 68: Market opportunity by End-user ($ million)
- Exhibit 69: Data Table on Market opportunity by End-user ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 71: Chart on Market share by geography 2022-2027 (%)
- Exhibit 72: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 73: Chart on Geographic comparison
- Exhibit 74: Data Table on Geographic comparison
- 9.3 North America - Market size and forecast 2022-2027
- Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.4 APAC - Market size and forecast 2022-2027
- Exhibit 79: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 81: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 87: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 US - Market size and forecast 2022-2027
- Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.9 China - Market size and forecast 2022-2027
- Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.10 UK - Market size and forecast 2022-2027
- Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
- Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)
- 9.11 India - Market size and forecast 2022-2027
- Exhibit 107: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 108: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 110: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.12 Germany - Market size and forecast 2022-2027
- Exhibit 111: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 112: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 113: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 114: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 115: Market opportunity by geography ($ million)
- Exhibit 116: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 117: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 119: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 120: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 121: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 122: Matrix on vendor position and classification
- 12.3 Accent Advanced Systems SLU
- Exhibit 123: Accent Advanced Systems SLU - Overview
- Exhibit 124: Accent Advanced Systems SLU - Product / Service
- Exhibit 125: Accent Advanced Systems SLU - Key offerings
- 12.4 Apple Inc.
- Exhibit 126: Apple Inc. - Overview
- Exhibit 127: Apple Inc. - Business segments
- Exhibit 128: Apple Inc. - Key news
- Exhibit 129: Apple Inc. - Key offerings
- Exhibit 130: Apple Inc. - Segment focus
- 12.5 ASSA ABLOY AB
- Exhibit 131: ASSA ABLOY AB - Overview
- Exhibit 132: ASSA ABLOY AB - Business segments
- Exhibit 133: ASSA ABLOY AB - Key news
- Exhibit 134: ASSA ABLOY AB - Key offerings
- Exhibit 135: ASSA ABLOY AB - Segment focus
- 12.6 Beacon Platform Inc.
- Exhibit 136: Beacon Platform Inc. - Overview
- Exhibit 137: Beacon Platform Inc. - Product / Service
- Exhibit 138: Beacon Platform Inc. - Key offerings
- 12.7 Blesh
- Exhibit 139: Blesh - Overview
- Exhibit 140: Blesh - Product / Service
- Exhibit 141: Blesh - Key offerings
- 12.8 BlueUp Srls
- Exhibit 142: BlueUp Srls - Overview
- Exhibit 143: BlueUp Srls - Product / Service
- Exhibit 144: BlueUp Srls - Key offerings
- 12.9 Chengdu JAALEE Technology Co. Ltd.
- Exhibit 145: Chengdu JAALEE Technology Co. Ltd. - Overview
- Exhibit 146: Chengdu JAALEE Technology Co. Ltd. - Product / Service
- Exhibit 147: Chengdu JAALEE Technology Co. Ltd. - Key offerings
- 12.10 Estimote Inc.
- Exhibit 148: Estimote Inc. - Overview
- Exhibit 149: Estimote Inc. - Product / Service
- Exhibit 150: Estimote Inc. - Key offerings
- 12.11 Hewlett Packard Enterprise Co.
- Exhibit 151: Hewlett Packard Enterprise Co. - Overview
- Exhibit 152: Hewlett Packard Enterprise Co. - Business segments
- Exhibit 153: Hewlett Packard Enterprise Co. - Key news
- Exhibit 154: Hewlett Packard Enterprise Co. - Key offerings
- Exhibit 155: Hewlett Packard Enterprise Co. - Segment focus
- 12.12 Kontakt Micro Location Sp. Z.o.o
- Exhibit 156: Kontakt Micro Location Sp. Z.o.o - Overview
- Exhibit 157: Kontakt Micro Location Sp. Z.o.o - Product / Service
- Exhibit 158: Kontakt Micro Location Sp. Z.o.o - Key offerings
- 12.13 KS Technologies Inc.
- Exhibit 159: KS Technologies Inc. - Overview
- Exhibit 160: KS Technologies Inc. - Product / Service
- Exhibit 161: KS Technologies Inc. - Key offerings
- 12.14 Leantegra Inc.
- Exhibit 162: Leantegra Inc. - Overview
- Exhibit 163: Leantegra Inc. - Product / Service
- Exhibit 164: Leantegra Inc. - Key offerings
- 12.15 PaeDae Inc.
- Exhibit 165: PaeDae Inc. - Overview
- Exhibit 166: PaeDae Inc. - Product / Service
- Exhibit 167: PaeDae Inc. - Key offerings
- 12.16 Radius Networks Inc.
- Exhibit 168: Radius Networks Inc. - Overview
- Exhibit 169: Radius Networks Inc. - Product / Service
- Exhibit 170: Radius Networks Inc. - Key offerings
- 12.17 Texas Instruments Inc.
- Exhibit 171: Texas Instruments Inc. - Overview
- Exhibit 172: Texas Instruments Inc. - Business segments
- Exhibit 173: Texas Instruments Inc. - Key news
- Exhibit 174: Texas Instruments Inc. - Key offerings
- Exhibit 175: Texas Instruments Inc. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 176: Inclusions checklist
- Exhibit 177: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 178: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 179: Research methodology
- Exhibit 180: Validation techniques employed for market sizing
- Exhibit 181: Information sources
- 13.5 List of abbreviations
- Exhibit 182: List of abbreviations
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