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.
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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
