The smart beacon market size is projected to be valued at US$ 6.25 billion in 2023 and is expected to rise to US$ 58.21 billion by 2033. The sales of smart beacons are anticipated to expand at a significant CAGR of 25.0% from 2023 to 2033.
Key Trends in Smart Beacon
These trends collectively demonstrate the growing significance of smart beacons and their potential to revolutionize various sectors with their ability to deliver personalized experiences and provide valuable insights through data analytics.
| Attribute | Details |
|---|---|
| Smart Beacon Market Estimated Size (2023) | US$ 6.25 billion |
| Smart Beacon Market CAGR (2023 to 2033) | 25.0% |
| Smart Beacon Market Forecasted Size (2033) | US$ 58.21 billion |
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From 2018 to 2022, the smart beacon market experienced significant growth of 31.5% and witnessed widespread adoption across various industries. During this period, the market expanded as businesses recognized the potential of smart beacons for location-based services, proximity marketing, and indoor navigation.
Looking ahead, from 2023 to 2033, the growth forecast for the smart beacon market is promising. The market is projected to continue its upward trajectory, driven by advancements in technology, increasing IoT integration, and the rising demand for personalized and context-aware experiences.
The expansion of smart beacons into new sectors such as healthcare, museums, sports venues, and smart cities might further fuel market growth. These industries are going to leverage the capabilities of smart beacons to enhance patient experiences, create interactive exhibits, improve fan engagement, and enable location-based services in urban environments.
Principal Consultant
The Eddystone segment is witnessing a potential growth of 24.9% in the global market. The Eddystone standard provides a set of specifications and protocols that enable beacon manufacturers and developers to create interoperable and versatile beacon solutions.
One of the key features of the Eddystone standard is its ability to transmit different types of data, including URL links, telemetry information, and proximity data. This flexibility allows businesses and developers to utilize smart beacons for a wide range of applications, including proximity marketing, location-based services, and context-aware experiences.
The open-source nature of the Eddystone standard encourages innovation and collaboration within the smart beacon ecosystem, enabling developers to create custom applications and solutions. Businesses can leverage the benefits of a widely supported and interoperable beacon format, by adopting the Eddystone standard.
Smart beacons have gained substantial traction and recorded a progressive growth of 24.8% in the retail industry because of their ability to deliver personalized and location-based experiences to customers.
Smart beacons also facilitate indoor navigation and wayfinding within retail environments. By detecting the presence of a customer's smartphone or other compatible device, beacons can provide real-time directions, highlight points of interest, and guide customers to specific sections or products within the store. Moreover, this technology enhances the shopping experience, reduces customer frustration, and increases the likelihood of purchase.
Retailers can also leverage smart beacons to offer additional services such as mobile payments, personalized recommendations, and loyalty programs. By integrating beacon technology with mobile applications, retailers can create seamless and convenient shopping experiences that align with the evolving expectations of modern consumers.
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The United States is one of the most influential markets in the industry, showcasing a CAGR of 23.7% in the analysis period. In the United States, smart beacons are extensively utilized in retail establishments, including shopping malls, department stores, and boutiques.
Retailers leverage beacon technology to deliver personalized offers, promotions, and recommendations to customers based on their location within the store. This enhances customer engagement, encourages purchases, and provides a competitive edge in the dynamic retail market.
The United States is home to several beacon technology providers, startups, and innovative companies driving advancements in the smart beacon market. Further, these companies focus on developing cutting-edge beacon hardware, software, and analytics solutions to cater to the evolving needs of businesses across various industries. The United States has a tech-savvy population and a high smartphone penetration rate, which creates a conducive environment for the adoption of smart beacons.
The United Kingdom’s tech-savvy population and high smartphone penetration rate contribute to the successful adoption of smart beacon technology. With widespread smartphone usage, users can easily interact with beacon-triggered notifications, promotions, and services, enhancing their overall engagement and satisfaction.
The United Kingdom market is home to several beacon technology providers, startups, and innovative companies that drive advancements in the smart beacon industry. These companies develop cutting-edge beacon hardware, software, and analytics solutions to cater to the evolving needs of businesses across various sectors.
In China, the smart beacon market finds extensive applications in retail, hospitality, transportation, and other industries. Retailers leverage beacon technology to enhance customer experiences, deliver personalized offers, and improve customer engagement.
Smart beacons enable retailers to understand consumer behavior, optimize store layouts, and provide targeted promotions, driving sales and loyalty. Furthermore, China's supportive regulatory environment and government initiatives promoting the adoption of smart technologies contribute to the growth of the smart beacon market. Regulations ensure data protection and privacy while fostering the development and deployment of innovative beacon solutions.
These companies are focused on developing and offering innovative smart beacon solutions to cater to the evolving needs of businesses across various sectors.
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 25.0% from 2023 to 2033 |
| Base Year of Estimation | 2023 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in US$ billion and Volume in Units and F-CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, growth factors, Trends, and Pricing Analysis |
| Key Segments Covered | Beacon Standard, Connectivity Type, Offerings, By Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; The Middle East & Africa; Oceania |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, Italy, France, The United Kingdom, Spain, Russia, China, Japan, India, GCC Countries, Australia |
| Key Companies Profiled | Hewlett Packard Enterprise (Aruba Networks); HID Global Corporation; Leantegra Inc.; Cisco Systems Inc.; Kontakt.io Inc.; Gimbal Inc.; Accent Systems; Sensoro Co. Ltd; Jaalee Technology; and Fujitsu Components Asia Pte Ltd. |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 6.2 billion in 2023.
Estimote, Gimbal, and Cisco Systems are the prominent market players.
The market is predicted to reach US$ 58.2 billion by 2033.
Increasing demand for personalized and context-aware experiences to increase sales.
The market registered a CAGR of 31.5% from 2018 to 2022.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Beacon Standard
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Beacon Standard, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Beacon Standard, 2023 to 2033
5.3.1. iBeacon
5.3.2. Eddystone
5.3.3. Others
5.4. Y-o-Y Growth Trend Analysis By Beacon Standard, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Beacon Standard, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Connectivity Type
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Connectivity Type, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Connectivity Type, 2023 to 2033
6.3.1. Bluetooth Low Energy - BLE
6.3.2. Hybrid
6.4. Y-o-Y Growth Trend Analysis By Connectivity Type, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Connectivity Type, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Offering
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis by Offering, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast by Offering, 2023 to 2033
7.3.1. Hardware
7.3.2. Software
7.3.3. Service
7.4. Y-o-Y Growth Trend Analysis by Offering, 2018 to 2022
7.5. Absolute $ Opportunity Analysis by Offering, 2023 to 2033
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) Analysis By End-Use, 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-Use, 2023 to 2033
8.3.1. Retail
8.3.2. Hospitality
8.3.3. Transportation & Logistics
8.3.4. Healthcare
8.3.5. BFSI
8.3.6. Others
8.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022
8.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. MEA
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. The USA
10.2.1.2. Canada
10.2.2. By Beacon Standard
10.2.3. By Connectivity Type
10.2.4. By Offering
10.2.5. By End-Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Beacon Standard
10.3.3. By Connectivity Type
10.3.4. By Offering
10.3.5. By End-Use
10.4. Key Takeaways
11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. Brazil
11.2.1.2. Mexico
11.2.1.3. Rest of Latin America
11.2.2. By Beacon Standard
11.2.3. By Connectivity Type
11.2.4. By Offering
11.2.5. By End-Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Beacon Standard
11.3.3. By Connectivity Type
11.3.4. By Offering
11.3.5. By End-Use
11.4. Key Takeaways
12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. Germany
12.2.1.2. United Kingdom
12.2.1.3. France
12.2.1.4. Spain
12.2.1.5. Italy
12.2.1.6. Rest of Europe
12.2.2. By Beacon Standard
12.2.3. By Connectivity Type
12.2.4. By Offering
12.2.5. By End-Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Beacon Standard
12.3.3. By Connectivity Type
12.3.4. By Offering
12.3.5. By End-Use
12.4. Key Takeaways
13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Country
13.2.1.1. China
13.2.1.2. Japan
13.2.1.3. South Korea
13.2.1.4. Singapore
13.2.1.5. Thailand
13.2.1.6. Indonesia
13.2.1.7. Australia
13.2.1.8. New Zealand
13.2.1.9. Rest of Asia Pacific
13.2.2. By Beacon Standard
13.2.3. By Connectivity Type
13.2.4. By Offering
13.2.5. By End-Use
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Beacon Standard
13.3.3. By Connectivity Type
13.3.4. By Offering
13.3.5. By End-Use
13.4. Key Takeaways
14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. South Africa
14.2.1.3. Israel
14.2.1.4. Rest of MEA
14.2.2. By Beacon Standard
14.2.3. By Connectivity Type
14.2.4. By Offering
14.2.5. By End-Use
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Beacon Standard
14.3.3. By Connectivity Type
14.3.4. By Offering
14.3.5. By End-Use
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2022
15.1.2.1. By Beacon Standard
15.1.2.2. By Connectivity Type
15.1.2.3. By Offering
15.1.2.4. By End-Use
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2022
15.2.2.1. By Beacon Standard
15.2.2.2. By Connectivity Type
15.2.2.3. By Offering
15.2.2.4. By End-Use
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2022
15.3.2.1. By Beacon Standard
15.3.2.2. By Connectivity Type
15.3.2.3. By Offering
15.3.2.4. By End-Use
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2022
15.4.2.1. By Beacon Standard
15.4.2.2. By Connectivity Type
15.4.2.3. By Offering
15.4.2.4. By End-Use
15.5. Germany
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2022
15.5.2.1. By Beacon Standard
15.5.2.2. By Connectivity Type
15.5.2.3. By Offering
15.5.2.4. By End-Use
15.6. United Kingdom
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2022
15.6.2.1. By Beacon Standard
15.6.2.2. By Connectivity Type
15.6.2.3. By Offering
15.6.2.4. By End-Use
15.7. France
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2022
15.7.2.1. By Beacon Standard
15.7.2.2. By Connectivity Type
15.7.2.3. By Offering
15.7.2.4. By End-Use
15.8. Spain
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2022
15.8.2.1. By Beacon Standard
15.8.2.2. By Connectivity Type
15.8.2.3. By Offering
15.8.2.4. By End-Use
15.9. Italy
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2022
15.9.2.1. By Beacon Standard
15.9.2.2. By Connectivity Type
15.9.2.3. By Offering
15.9.2.4. By End-Use
15.10. China
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2022
15.10.2.1. By Beacon Standard
15.10.2.2. By Connectivity Type
15.10.2.3. By Offering
15.10.2.4. By End-Use
15.11. Japan
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2022
15.11.2.1. By Beacon Standard
15.11.2.2. By Connectivity Type
15.11.2.3. By Offering
15.11.2.4. By End-Use
15.12. South Korea
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2022
15.12.2.1. By Beacon Standard
15.12.2.2. By Connectivity Type
15.12.2.3. By Offering
15.12.2.4. By End-Use
15.13. Singapore
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2022
15.13.2.1. By Beacon Standard
15.13.2.2. By Connectivity Type
15.13.2.3. By Offering
15.13.2.4. By End-Use
15.14. Thailand
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2022
15.14.2.1. By Beacon Standard
15.14.2.2. By Connectivity Type
15.14.2.3. By Offering
15.14.2.4. By End-Use
15.15. Indonesia
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2022
15.15.2.1. By Beacon Standard
15.15.2.2. By Connectivity Type
15.15.2.3. By Offering
15.15.2.4. By End-Use
15.16. Australia
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2022
15.16.2.1. By Beacon Standard
15.16.2.2. By Connectivity Type
15.16.2.3. By Offering
15.16.2.4. By End-Use
15.17. New Zealand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2022
15.17.2.1. By Beacon Standard
15.17.2.2. By Connectivity Type
15.17.2.3. By Offering
15.17.2.4. By End-Use
15.18. GCC Countries
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2022
15.18.2.1. By Beacon Standard
15.18.2.2. By Connectivity Type
15.18.2.3. By Offering
15.18.2.4. By End-Use
15.19. South Africa
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2022
15.19.2.1. By Beacon Standard
15.19.2.2. By Connectivity Type
15.19.2.3. By Offering
15.19.2.4. By End-Use
15.20. Israel
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2022
15.20.2.1. By Beacon Standard
15.20.2.2. By Connectivity Type
15.20.2.3. By Offering
15.20.2.4. By End-Use
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Beacon Standard
16.3.3. By Connectivity Type
16.3.4. By Offering
16.3.5. By End-Use
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Aruba
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.2. Estimote
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.3. Kontakt.io
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.4. ASSA ABLOY
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.5. Cisco
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.6. Onyx Beacon
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.7. The Mobile Majority
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.8. Leantegra
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.9. Accent Systems
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.10. Sensoro
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.11. JAALEE Technology
17.1.11.1. Overview
17.1.11.2. Product Portfolio
17.1.11.3. Profitability by Market Segments
17.1.11.4. Sales Footprint
17.1.11.5. Strategy Overview
17.1.11.5.1. Marketing Strategy
17.1.12. Blesh
17.1.12.1. Overview
17.1.12.2. Product Portfolio
17.1.12.3. Profitability by Market Segments
17.1.12.4. Sales Footprint
17.1.12.5. Strategy Overview
17.1.12.5.1. Marketing Strategy
17.1.13. BlueUp
17.1.13.1. Overview
17.1.13.2. Product Portfolio
17.1.13.3. Profitability by Market Segments
17.1.13.4. Sales Footprint
17.1.13.5. Strategy Overview
17.1.13.5.1. Marketing Strategy
17.1.14. HID Global Corporation
17.1.14.1. Overview
17.1.14.2. Product Portfolio
17.1.14.3. Profitability by Market Segments
17.1.14.4. Sales Footprint
17.1.14.5. Strategy Overview
17.1.14.5.1. Marketing Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Smart Beacon Market
