Beacon Market by Type (Beacon, Eddystone, AltBeacon, and Others), Technology (BLE, Wi-Fi, Ultrasound, and Combined Technology), and Application (Retail, Travel Tourism & Hospitality, Healthcare, BFSI, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2024

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Beacon is small device that sends out radio signals to nearby mobile phones and tablets, containing a small amount of data. Mobile apps on compatible devices are able to listen for signals from beacons on proximity area and then trigger an experience such as sending a promotional notification, coupon, video, URL form, and others through the app.

Increase in investment in proximity marketing globally. Further, employee & asset monitoring, safety & security, resource optimization, and other features of beacon solution fuel the market growth. However, rise in data security and privacy concern is expected to limit the market growth. Conversely, upsurge in organized retail provides ample of growth opportunity.

By type, ibeacon was the dominant segment in 2017, and is anticipated to continue this trend during the forecast period. In addition, by application, retail industry led the market in 2017. By technology, the BLE segment is anticipated to witness the highest growth rate during the forecast period.

Among the analyzed geographical regions, North America account for the highest revenue in the global market throughout the forecast period. However, Asia-Pacific is expected to grow at a higher growth rate, attributed to increase in investment in proximity marketing globally.

Advanced system, SLU., Apple Inc., BlueCats, Blue Sense Networks, Estimote, Inc., Gelo, Glimworm Beacons, Gimbal, Kontakt.io, and Beaconinside GmbH are key players that occupy a significant revenue share in the market.