Beacon Technology Market Size Worth USD 35.15 Billion by 2027 | CAGR of 44.1%: Emergen Research

VANCOUVER, BC, Oct. 29, 2020 /PRNewswire/ -- The Global Beacon Technology Market is forecast to be worth USD 35.15 Billion by 2027, according to a current analysis by Emergen Research. The beacon technology market is anticipated to grow substantially owing to the growing penetration of the Internet of Things technology, increasing investments in proximity marketing, and rising demand for sensor-based devices in different industries. The growth in organized retail stores provides the players functioning in the beacon technology market with sufficient growth prospects. With the support of government-organized retail outlets are growing substantially, such as supermarkets, department stores, and hypermarkets, which is expected to fuel the market growth shortly.

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The high configuration costs and security problems are likely to hamper the growth of the market.

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Key Highlights From The Report

    --  In April 2020, Estimote Inc. has implemented its technical expertise to
        create a new device named "Proof of Health," specially designed to
        reduce the COVID-19 spread. The company introduced a unique variety of
        wearables that can improve employees' safety for those who need to be
        co-located in a workplace environment, while measures of social distance
        and physical isolation are in place.
    --  Owing to the increasing implementation of cloud-enabled low-energy
        Bluetooth networks, the high cost of network systems, and the
        complicated implementation & maintenance of such networks, the cloud
        segment is anticipated to dominate the market with a CAGR of
        approximately 44.5% in the forecast duration.
    --  Leading to AltBeacon's significant advantages, such as various vendor
        IDs and beacon codes, the AltBeacon segment is expected to hold the
        largest market over the forecast timeframe.
    --  Due to the rising popularity of Wi-Fi due to its advantages such as
        interconnectivity, improved customer privacy, and enhanced proximity
        detection, the Wi-Fi segment accounts for the largest market in the
        beacon technology market over the forecast period.
    --  Due to its several advantages, such as improving customer experience by
        providing interactive guides, sharing multi-language information and
        tips, and special offers, the retail segment is expected to dominate the
        market throughout the forecast period.
    --  Due to the presence of supermarket giants such as Walmart, Kroger, and
        Tesco in the region, North America held the largest market throughout
        the forecast timeframe. With the increasing government support to
        strengthen the retail business, the Asia Pacific region is anticipated
        to grow substantially.
    --  Key participants include 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.

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Emergen Research has segmented the Global Beacon Technology Market on the basis of deployment, platform, technology end-use, and region:

    --  Deployment Outlook (Revenue, USD Billion; 2017-2027)
        --  Cloud
        --  On-premises
    --  Platform Outlook (Revenue, USD Billion; 2017-2027)
        --  Eddystone
        --  iBeacon
        --  AltBeacon
    --  Technology Outlook (Revenue, USD Billion; 2017-2027)
        --  Wi-Fi
        --  Bluetooth Low Energy
        --  Ultrasound
        --  Others
    --  End-Use Outlook (Revenue, USD Billion; 2017-2027)
        --  Healthcare
        --  Real-estate
        --  Aviation
        --  Banking
        --  Hotels
        --  Retail
        --  Education
        --  Others

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    --  Regional Outlook (Revenue, USD Billion; 2017-2027)
        --  North America
            1. U.S.
            2. Canada
            3. Mexico
        --  Europe
            1. Germany
            2. U.K.
            3. France
            4. BENELUX
            5. Rest of Europe
        --  Asia Pacific
            1. China
            2. Japan
            3. South Korea
            4. India
            5. Rest of APAC
        --  Latin America
            1. Brazil
            2. Rest of LATAM
        --  Middle East & Africa
            1. Saudi Arabia
            2. UAE
            3. Rest of MEA

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About Emergen Research

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

With market-leading insights and an in-depth understanding of leading and niche technologies, our solutions address the most pertinent questions for your business needs. A major technological shift has been witnessed towards creating a 'Circular Economy,' fuelled by factors, such as the increased adoption of bio-based materials, along with other methods for achieving carbon neutrality. We are conversant in technologies, viz., Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), Robotic Process Automation (RPA), Smart Manufacturing, Internet of Things (IoT), Big Data Analytics, Machine learning, Nanotechnology, Edge Computing, Blockchain Technology, Cloud Computing, Vehicle Electrification, Advanced Maintenance Analytics, and Predictive Maintenance, among other prevalent and emergent technologies.

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