The global BLE beacon market was valued at $2 billion in 2019, and is projected to reach $69.2 billion by 2030, growing at a CAGR of 36.9% from 2022 to 2030
Bluetooth low energy is referred to as BLE. It is a power-saving variation of Bluetooth that was first released in 2010 by Bluetooth SIG. Beacons depend on BLE's low energy requirements as it enables them to operate for years on tiny coin-cell batteries. In addition, it uses a lot less energy than the outdated, cumbersome Bluetooth. BLE is a key factor on the Internet of Things, enabling technology to function for longer with fewer pieces.
BLE uses a different set of channels but the same frequency range as Bluetooth Classic (2.400-2.4835 GHz ISM band). It has three major ad channels, which speeds up device connections and reduces the amount of time to scan a device. To address concerns related to narrowband interference, BLE implements direct sequence spread spectrum or frequency hopping using digital modulation techniques. A Bluetooth beacon's theoretical maximum radius is less than 100 meters. Furthermore, latency from a disconnected state can be up to 6 meters. The beacon's real range and reaction time are determined by the operation for which it was intended.
The outbreak of COVID-19 has significantly impacted the growth of the global BLE beacon market solutions such as ibeacon devices and ibeacon proximity devices in 2021, owing to a significant impact on prime players operating in the supply chain. With the use of BLE beacon technology, numerous organizations are developing different applications to stop the spread of false information regarding the number of fatalities, available diagnoses & treatments, and immunization.
For instance, Google and Facebook teamed up to support the National Health Service (NHS) in the fight against false coronavirus news. In addition, it is expected that the BLE Beacon market will dominate the market in 2021, owing to the increase in implementation of this technology by governments around the world to conduct various efforts to prevent close contact. For instance, the government of India has installed a few gadgets at the Bangalore Airport to eliminate passenger interaction and reduce the spread of coronavirus. It has been observed that using infrared cards allows a user to make purchases without ever touching a swiping machine. For instance, PayPal has established a beacon protocol to prevent the use of cash or swipe cards. Therefore, during the forecast period, it is expected to drive the BLE beacon market opportunity, owing to the demand for location-based marketing solutions and the growing adoption of mobile devices.
The BLE beacon market is segmented into Industry Vertical, Type, and Application.
On the basis of type, the market is divided into IBeacon, Eddystone, and others. The iBeacon segment was the highest revenue contributor to the market and is expected to grow at the highest CAGR during the BLE beacon market forecast period from 2022 to 2030.
By application, the BLE beacon market size is segmented into proximity marketing, asset tracking, indoor navigation, and others. The proximity marketing segment was the highest revenue contributor to the BLE beacon market share and is estimated to grow at a high CAGR%during the forecast period.
By industry vertical, the BLE beacon market growth is segregated into retail, healthcare, travel, and tourism, BFSI, automotive, and others. The retail segment acquired the largest share in 2019 and is expected to grow at a high CAGR% from 2022 to 2030.
Region-wise, the BLE Beacon market outlook is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and, Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific remains a significant participant in the BLE Beacon industry. Major organizations and government institutions in emerging countries are intensely putting resources into technology.
Competitive analysis and profiles of major BLE Beacon market players, such as Accent Systems, Apple Inc, Bluvision, Estimote Inc, Google LLC, Hewlett Packard Enterprise Development LP, K2B Solutions, Kontakt.io, Onyx Beacon, and UFO Beacons are focusing their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the BLE beacon market analysis from 2019 to 2030 to identify the prevailing BLE beacon market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the BLE beacon market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global BLE beacon market trends, key players, market segments, application areas, and market growth strategies.
BLE Beacon Market Report Highlights
Market Size By 2030
USD 69.2 billion
CAGR of 36.9%
2019 - 2030
By Industry Vertical
Key Market Players
Onyx Beacon, MobileCoderz Technologies Pvt Ltd, Proximity Solutions, Hewlett Packard Enterprise, GCell, Google LLC (Alphabet), K2B Solutions, Kontakt, Bluvision, Mobstac Inc, Estimote Inc., JK Tech, Apple Inc., GeLo Inc., Bluecats, Accent Systems, UFO Beacons
The BLE beacon market is witnessing significant growth, owing to growth in the implementation of Wi-Fi, IoT, and others. Further, an increase in the popularity of proximity marketing is projected to drive the growth of the beacon market, as it is the simplest way to connect to customers. The market for BLE beacon is expanding, owing to the rise in the adoption of smart devices such as smartphones and tablets.
Asia-Pacific is anticipated to have the fastest growth in the Global BLE beacon market during the forecast period, owing to a rise in investments in BLE beacons and widespread usage of internet of things (IoT) technology. In addition, BLE beacons have been widely adopted in the Asia-Pacific retail, healthcare, automotive, transportation, and educational sectors.
The most prominent factors that drive the global BLE beacon market growth include an increase in advanced communication technologies, an increase in investments in proximity marketing, and a rise in the adoption of smart devices. However, lack of presence of technological resources, lack of awareness, and concerns toward privacy & security hamper the market growth. Furthermore, the rise in demand for smartphone usage and development in organized retail sectors are the factors anticipated to provide lucrative opportunities for the BLE beacon market during the forecast period.
To stay competitive in the industry, major competitors concentrate on releasing technologically upgraded items. Product launches, contracts, collaborations, and partnerships are anticipated to be the key strategies used by industry participants. The BLE beacon market is expanding, owing improved features of solutions, including employee & asset monitoring, data generation, resource optimization, and others.