Beacon Technology Market May Hit USD 35.15 Billion By 2027 | Market analysis, trends, opportunities, future prospects
Growing penetration of IoT and growing government initiatives to improve the retail industry are driving the market demand.
VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ — The Global Beacon Technology Market Research Report released by Emergen Research contains the latest information on product specifications and portfolio, technological advances, product type and manufacturing. Major factors such as revenue, cost, and gross margin are considered while formulating this report. The report provides in-depth data of major market players along with their SWOT analysis, financial status, product and technology development, and recent business expansion strategic plans.
The global Beacon technology market is expected to be worth USD 35.15 billion by 2027. The Beacon technology market is expected to grow significantly due to growing penetration of Internet of Things technology, increasing investment in marketing of proximity and the growing demand for sensor-based devices in different industries. The growth of organized retail stores provides the players operating in the beacon technology market with ample growth prospects. With government support, organized retail outlets are growing significantly, such as supermarkets, department stores, and hypermarkets, which is expected to fuel the market growth shortly.
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The report further explores key business players along with their in-depth profiling, product catalog, and strategic business decisions. The major players studied in the report are Apple Inc., Sensorberg GmbH, Gimbal, Inc., Google Inc., Texas Instruments Inc., KS Technologies, LLC, Radius Networks Inc., Kontakt.io, Swirl Networks, Inc. and Estimote Inc., among others.
The report further covers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a complete understanding of the competitive landscape and scenario of each market player. The report also provides an in-depth analysis of the applications and product types offered in the market.
Emergen Research has segmented the global Beacon technology market based on deployment, platform, technology end use, and region:
Deployment Outlook (Revenue, USD Billion; 2017-2027)
On the site
Platform Outlook (Revenue, USD Billion; 2017-2027)
Technology Outlook (Revenue, USD Billion; 2017-2027)
Bluetooth low energy
End-Use Outlook (Revenue, USD Billion; 2017-2027)
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In April 2020, Estimote Inc. applied its technical expertise to create a new device named “Proof of Health”, specially designed to reduce the spread of COVID-19. The company has introduced a unique variety of wearable devices that can improve employee safety for those who need to be co-located in a work environment, while social distancing and physical isolation measures are in place.
Attributed to the increasing implementation of low energy Bluetooth networks in the cloud, the high cost of network systems and the complicated implementation and maintenance of these networks, the cloud segment is expected to dominate the market with a CAGR of 44.5% during the forecast. period.
Leading to the significant benefits of AltBeacon such as various vendor IDs and beacon codes, AltBeacon segment is expected to hold the largest market during the forecast period.
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Based on regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia-Pacific, Middle East & Africa. The market is expected to be dominated by North American countries, closely followed by European countries. Asia-Pacific is expected to show significant growth due to recent progress and increased investment in the R&D sector.
Summary of key points from the report:
The report offers a comprehensive overview of the market size, share, and growth rate over the forecast duration.
It provides details of the current scenario, historical data, giving an accurate forecast of the market for the coming years.
The study categorizes the market based on product types, applications, end users, market value and volume, industry verticals, and 5 major regions.
It also offers regional market analysis and forecasts for the major geographies of the industry i.e. North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. .
Industry supply chain, sourcing strategy, upstream raw materials and downstream demand analysis have also been undertaken in the research report.
The study offers a comprehensive understanding of demand and supply dynamics, including production and consumption rates, and overall market mapping.
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