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Global Beacon Technology Market

Global Beacon Technology market witness market size of USD 1.29 billion in 2019 to projected to reach USD 19.32 billion by 2026 at a CAGR of 47.6% during 2020-2026.

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Global Beacon Technology Market

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  1. The Global Beacon Technology Market is expected to grow at a CAGR of 47.6% from 2020-2026

  2. Global Beacon Technology market witness market size of USD 1.29 billion in 2019 to projected to reach USD 19.32 billion by 2026. Such market growth is attributed to increasing smartphone penetration around the world and the need for location-based proximity. Business owners are becoming aware of these customer preferences and are thus leveraging proximity-based beacon transmitters in order to enable real-time communication with those clients. In addition, the proliferation of smart cities around the world contributes favorably to the growth of the beacon technology market, since beacons can facilitate highly connected urban infrastructures. The key trends in the Beacon market include the rising adoption of Bluetooth smart technology, loop technology, and over-the-air (OTA) technology based on Al capabilities. Beacons are experiencing rising demand from industries such as retail, hospitality, transportation and logistics, entertainment, and others. In the retail industry, it improves the guest experience by offering virtual maps, sharing relevant tips and facts in different languages, via. offering promotions and discounts. In the healthcare industry, beacons attached to mobile hospital devices would allow equipment to be tracked and located in an emergency.

  3. Rising integration of advanced communication technologies are leading towards the adoption of beacon • The rising adoption of advanced communication technologies such as Bluetooth, Wi-Fi, NFC (near-field communication), RFID (radio-frequency identification) and others along with rising popularity of loT technology are few of the key drivers promoting the beacon market growth. Also, rising demand for Beacon based on advanced Bluetooth technology including Bluetooth 5.2, Bluetooth 5, and Bluetooth 4, from various industries such as transportation and logistics, entertainment and others are expected to boost the adoption of Beacon. This has made Bluetooth technology a global enabler of the Beacon market. With the increasing market popularity of Bluetooth technology-enabled devices, the market for Beacon is expected to grow with a substantial CAGR during the forecast period. Read More: https://www.blueweaveconsulting.com/global-beacon-technology-market-bwc20056

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