Smartphone has become a necessity for every individual in modern day world. People across the globe are using smartphones for their everyday activities such as ticket bookings, e-commerce, and many other activities. Due to its extensive use, retail companies too are searching innovative channels to connect to their customers through their smartphones. Adoptions of Bluetooth low energy (BLE) devices for one-way communication is one such technique preferred by the retail companies for customer engagement. Bluetooth beacon is a device equipped with BLE which broadcasts the messages through Bluetooth directly to the smartphones in its vicinity. Brand promotion and information sharing are few of the applications which are getting promoted in recent times.
Today, retail companies duly emphasize on promoting their products among the potential customers. This has been the key driver for the proliferation of Bluetooth beacon market. Bluetooth beacons are installed in shopping malls and other public places where retail organizations can attract potential customers. The devices work by broadcasting promotional messages (such as offers and discounts) to the customers’ mobile devices. In addition, Bluetooth beacons are installed at places such as airports and other public infrastructure for broadcasting any important instructions directly to their smartphones. Other potential applications of Bluetooth beacon include sports and concert arenas, trade shows and conferences, schools, and museums among others. The setup and working cost of Bluetooth beacon is economical resulting into limited market restraints. Manufacturers are further developing more energy efficient and cost-effective Bluetooth beacons. It is expected that with improved technical specification and further reduced cost, the technology will continue to grow across different applications.
The report titled “Bluetooth Beacon Market- Growth, Future Prospects and Competitive Landscape, 2023-2030 offers strategic insights into the global market. The said research study covers in-depth analysis of multiple market segments based on platform, application and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2020 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.
In order to help strategic decision makers, the report also includes competitive profiling of the leading Bluetooth beacon manufacturers, their business strategies, market positioning, and key developments. Some of the major players profiled in the report include Aruba, Estimote, Gimbal, Kontakt.io, Radius Networks, BlueCats, Blue Sense Networks, Glimworm Beacon, Sensorberg, and others. Other in-depth analysis provided in the report includes:
The global Bluetooth beacon market is segmented based on its platform, into the following categories:
As of 2021, the closed source Bluetooth beacon segment dominates the overall market in this segment. Apple, Inc. introduced Bluetooth beacon protocol, termed as iBeacon, in 2013. Exclusively for IOS platform, Apple, Inc. pioneered the closed source Bluetooth beacons and has the monopoly in the overall Bluetooth beacon market. Since its introduction, Apple, Inc. has installed its closed source iBeacon in all of its 254 retail stores in 2013. Apart from Apple, Inc., Rite Aid a leading chain of drug store announced to deploy closed source Bluetooth beacon in its 4,500 stores across the U.S. As a result, closed source platform segment leads the segments in terms of revenue.
Open source Bluetooth beacon segment is projected to witness the highest growth in the market during the forecast period. Eddystone, an open source Bluetooth beacon technology was launched by Google for Android platform in July 2015. This Bluetooth beacon is capable of operating on both IOS as well as for Android platform for broadcasting messages directly to the smartphone within its permissible proximity. Open source Bluetooth beacon is gaining its popularity because of its versatility and low cost. Consequently, the open platform is estimated to emerge as the fastest growing segment of the market, surpassing the closed source platform segment during the forecast period.
The global Bluetooth beacon market is segmented, based on its application, into following categories:
Retail application segment leads the overall Bluetooth beacon market, in terms of revenue, as of 2020. The retail industry is one of the first end-users to adopt the Bluetooth beacon technology for promoting their sales. Bluetooth beacon is an easy, economical as well as safe approach for targeting the intended customers through promotional information broadcasted directly on their smartphones. In addition, availability on both the platforms aided the retailers to expand their marketing reach. Consequently, use of Bluetooth beacon for retail industry has exhibited its dominance and is expected to lead the market throughout the forecast period.
As of 2020, application of Bluetooth beacon used for public infrastructure succeeds the retail segment. Bluetooth beacon technology is still in its developing stages and a variety of applications are being explored. Bluetooth beacons are applied for sharing important instruction to the people in places such as airports, sports and concert arenas, trade shows and conferences, schools, as well as in museums.
North America dominates the overall Bluetooth beacon market, as of 2020. The technology is currently dominated by the U.S. communication giant Apple, Inc. Presence of significant number companies along with high technology acceptance in the region are major factors supporting the market growth here. The trend is expected to continue during the forecast period and would significantly boost the overall Bluetooth beacon market in the region.
Europe succeeds North America, in terms of revenue, in the global Bluetooth beacon market. With the availability of beacons for both the platforms, use of Bluetooth beacon for retail promotion as well as for public infrastructure is growing significantly across the European countries. Asia Pacific is expected to emerge as the fastest growing Bluetooth beacon market in the coming years.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Bluetooth Beacon market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
