Smart Beacon Market Research, 2030
The Global Smart Beacon Market size is expected to reach $103.94 billion by 2030 from $3.28 billion in 2020, growing at a CAGR of 37.70% from 2021 to 2030.
Smart beacons are tiny and inexpensive, micro-location-based technology devices that can send radio frequency signals and notify nearby Bluetooth devices of their presence and transmit information. Smart phones or other mobile devices can capture the beacon signals and distance can be estimated by measuring received signal strength (RSSI). The closer the receptive devices the stronger will be the signals. An interesting common aspect is the use of beacons in trade and economic spheres.
The purpose is to ease the potential customers shopping experience, offer better services and to contribute to a possible increase in sales. Smart beacons technology is proving to be one of the most revolutionary and innovative technologies of recent times.
Various industrial sectors including retail, transit systems, enterprises, educational institutions, event organizing, finance, and travel, have started leveraging beacons solutions to track and communicate with their potential and existing customers. A beacon fixed on to a shop wall or event location or any public place, can communicate easily with a corresponding smartphone app and figure out where the person is located currently, with great accuracy. The retailers or event organizations can then come up with a much targeted or personalized communication based on the proximity of the customer.
The global smart beacon market size is anticipated to witness significant growth during the forecast period. Factors, such as increase in advance communication technologies, high in investments in proximity marketing, and rising adoption of smart devices drive the smart beacon market growth. Proximity marketing targets potential customers with personalized advertisements based on the customer location to attract the customer for purchase.
Over the recent years, proximity marketing has witnessed augmented investment, due to several factors such as high possibility of successful sales, improved customer relationship, enhanced personalized experience, and real-time & inexpensive nature as compared to traditional marketing. Moreover, increase in mobile penetration fuels the growth of proximity marketing.
However, the lack of presence of technological resources and concerns toward privacy & security is a major restraint to the global smart beacon market growth. In addition, rise in organized retailing industry is expected to create opportunities for the smart beacon industry. Increase in disposable income, improved living standard, rise of consumerism, technological impact, and entry of foreign retailers fuel the growth of the organized retail industry. Furthermore, the demand for beacon technology is expected to rise, with rise in organized retail such as supermarkets, departmental stores, hypermarkets, and discounters, as beacon makes organized retail stores smarter.
By Standard Type
iBeacon segment will maintain the lead throughout the forecast period
Key Takeaways
The global market study covers 20 countries. The research includes a segment analysis of each country in terms of value for the projected period.
More than 1,500 product literatures, industry releases, annual reports, and other such documents of major market industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious smart beacon market growth objectives.
Key Market Dynamics
The smart beacon market is witnessing substantial growth driven by the increasing adoption of location-based services across various industries, including retail, healthcare, and transportation. This trend is further fueled by the need for businesses to enhance customer engagement and streamline operations. The proliferation of smartphones and advancements in Bluetooth Low Energy (BLE) technology have facilitated seamless connectivity and enhanced user experiences, making beacons more accessible. Additionally, businesses are leveraging smart beacons for personalized marketing, asset tracking, and customer engagement, which is fueling market expansion. Challenges such as privacy concerns and interoperability among different beacon systems may hinder growth, but ongoing innovations in security protocols and integration capabilities are helping to address these issues effectively.
Segment Overview
The smart beacon market is segmented on the basis of standard type, connectivity, offering, end use, and region. By standard type, the market is divided into iBeacon, Eddystone, and others. On the basis of connectivity, it is segregated into Bluetooth low energy (BLE), Wi-Fi, and hybrid. By offering, it is divided into hardware, software, and services. The hardware segment further sub segmented into standard beacon, sticker beacon, and card beacon. Depending on end use, it is separated into retail, hospitality, transportation & logistics, healthcare, BFSI, education, and others.
By Connectivity
Bluetooth Low Energy (BLE) segment will dominate the market during 2021 - 2030
Region-wise, the smart beacon market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America is dominating the market, due to large-scale adoption of the technology by various verticals, such as retail, backed by high penetration of mobile devices.
By Offering
Hardware segment will hold the dominant position throughout the forecast period
Top Impacting Factors
The prominent factors which drives the smart beacon market growth are increase in advance communication technologies, high in investments in proximity marketing, and rising adoption of smart devices. However, the lack of presence of technological resources and concerns towards privacy & security is restricts the market growth. On the contrary, rise in organized retailing industry is expected to create lucrative opportunities for the smart beacon market. Therefore, these factors are expected to definitely affect global smart beacon industry during the forecast period.
By End Use
Retail segment is expected to maintain the leading position during 2021 - 2030
Competitive Analysis
Competitive analysis and profiles of the major smart beaconmarket players, such as Fujitsu Components Ltd. (Japan), Radius Networks (U.S.), Kontakt.io (U.S.), Cisco System (U.S.), Estimote (U.S.), Leantegra Inc. (U.S.), JAALEE Technology (China), HID Global (U.S.), Accent Systems (Spain), and Sensoro Co. Ltd. (China) are covered in this report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
By Region
Asia-Pacific region would exhibit the highest CAGR of 42.50% during 2021 - 2030
Regional/Country Market Outlook
North America: The North American smart beacon market is thriving, primarily due to high adoption rates of IoT technologies and strong investments in retail and marketing solutions. The United States leads the region, where retailers are increasingly implementing beacons for enhancing customer experiences and driving sales, creating a competitive advantage.
Europe: The European smart beacon market is growing steadily, supported by a strong focus on digital transformation across industries. Countries like the UK and Germany are at the forefront, utilizing beacons for various applications, including public transportation and event management while navigating stringent data privacy regulations that shape implementation strategies.
Asia-Pacific: The Asia-Pacific region is emerging as a key player in the smart beacon market, driven by rapid urbanization and the increasing prevalence of smart devices. Countries such as China and India are adopting beacon technology in retail, logistics, and tourism, further propelling market growth and enhancing user engagement.
LAMEA: The LAMEA smart beacon market is gradually evolving, with rising investments in smart city initiatives and retail innovations in regions like Brazil and the Middle East. While challenges such as limited infrastructure exist, the increasing demand for proximity marketing and location-based services is driving interest and adoption of smart beacons, creating new business opportunities.
Report Coverage & Deliverables
This report delivers in-depth insights into the smart beacon market overview, standard type, connectivity, offering, end-use, region, and major players' key strategies. It offers detailed market forecasts and emerging trends.
Standard Type Insights
The smart beacon market is categorized into iBeacon, Eddystone, and others. iBeacon holds the largest segment due to its widespread adoption in retail and marketing applications, providing effective solutions for proximity-based marketing and customer engagement.
Connectivity Insights
In terms of connectivity, The market is divided into Bluetooth Low Energy (BLE), Wi-Fi, and hybrid connectivity options. Bluetooth Low Energy (BLE) dominates the connectivity segment, favored for its energy efficiency and reliability in delivering location-based services.
Offering Insights
By offering, the smart beacon market is segmented into hardware, software, and services. The hardware segment is further divided into standard beacons, sticker beacons, and card beacons, with standard beacons being the most widely used for various applications.
End-Use Insights
By end-use, The market is classified into retail, hospitality, transportation and logistics, healthcare, BFSI, education, and others. The retail segment leads in end-use applications, driven by the demand for enhanced customer engagement and personalized marketing solutions.
Regional Insights
Regionally, the smart beacon market is examined across North America, Europe, Asia-Pacific, and LAMEA. Notably, the Asia-Pacific region, particularly China, is expected to grow at the highest rate during the forecast period, supported by significant investments in advanced technologies and smart solutions. The rapid urbanization and increasing smartphone penetration in this region are driving the demand for location-based services. Additionally, industries such as retail, transportation, and tourism are increasingly adopting smart beacon technology to enhance customer experiences and operational efficiencies.
Key Strategies and Developments
In September 2022, Saramonic launched the Blink500 ProX wireless microphone system, enhancing the wireless microphone market with advanced 2.4GHz transmission technology and extended operation time. This upgrade from the Blink500 Pro offers a larger OLED screen for vital information and out-of-the-box functionality, catering to evolving audio needs.
In August 2023, a significant partnership was formed with Kontakt.io to provide integrated IoT solutions aimed at enhancing asset tracking and location-based services. This collaboration leverages Kontakt.io’s advanced beacon technology to deliver real-time visibility and management of assets across various industries, including healthcare, logistics, and retail. The integrated solutions are designed to reduce operational costs, improve asset utilization, and enhance overall efficiency.
In January 2024, Cisco introduced Meraki Go, a comprehensive solution tailored for small businesses. This new offering integrates smart beacon functionalities to facilitate indoor navigation and wayfinding, making it easier for customers and employees to locate specific areas within a building. Meraki Go also includes features such as guest Wi-Fi, network security, and remote management, providing a robust and user-friendly networking solution for small enterprises.
In October 2023, Aruba, a Hewlett Packard Enterprise company, launched Aruba Meridian, a cloud-based platform designed to manage location services with integrated smart beacon technology. This platform enables businesses to deploy and manage location-based services such as wayfinding, asset tracking, and proximity-based notifications. Aruba Meridian’s scalable architecture supports various applications across sectors like retail, healthcare, and hospitality, enhancing customer engagement and operational efficiency.
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global smart beacon market outlook along with the current trends and future estimations to depict the imminent investment pockets.
- The overall smart beacon market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and smart beacon market opportunities with a detailed impact analysis.
- The current smart beacon market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and the smart beacon market share of key vendors.
- The report includes the smart beacon market trends and the revenue share of key vendors.
Smart Beacon Market Report Highlights
| Aspects | Details |
 By STANDARD TYPE |
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 By CONNECTIVITY |
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 By OFFERING |
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 By END USE |
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 By Region |
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 Key Market Players | Accent Systems, HID Global (Assa Abloy), Leantegra Inc., .Radius Networks, Kontakt.io, Inc., Estimote, Inc., Cisco Systems, JAALEE Technology, Sensoro Co Ltd, Fujitsu Components Ltd. |
Analyst Review
The global smart beacon market is projected to witness significant growth in the near future, especially in North America and Europe, owing to rise in investment in proximity marketing. Companies in this retail industry adopt various innovative techniques to provide customers with advanced and innovative features.
Asia-Pacific is expected to depict the fastest growth in the global smart beacon market during the forecast period owing, to increase in investment in smart beacon and high adoption of internet of things (IoT) technology. Also, Asia-Pacific has witnessed a wide-scale adoption of smart beacon in retail, hospitals, automotive, transportation, and education sectors.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, agreement, collaboration, and partnership are expected to be the prominent strategies adopted by the market players. Enhanced features of beacon solution such as employee & asset monitoring, data generation, resource optimization, and others drive the growth of the smart beacon market.
The Smart Beacon Market is estimated to grow at a CAGR of 37.70% from 2021 to 2030.
The Smart Beacon Market is projected to reach $103.94 billion by 2030.
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Increase in advance communication technologies, and high in investments in proximity marketing etc. boost the Smart Beacon market growth.
The key players profiled in the report include Fujitsu Components Ltd. (Japan), Radius Networks (U.S.), Kontakt.io (U.S.), and many more.
On the basis of top growing big corporations, we select top 10 players.
The Smart Beacon Market is segmented on the basis of standard type, connectivity, offering, end use, and region.
The key growth strategies of Smart Beacon market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Asia-Pacific region would grow at a highest CAGR of 42.5% during the forecast period.
iBeacon segment will dominate the market by the end of 2030.
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