Bluetooth beacons are devices that broadcast signals and messages in the form of notification that can be received by smart devices present under the range. Beacons consist of a chip and other electronic components (e.g., antenna) on a small circuit board. Beacons are growing in popularity because they can offer an enhanced or more personalized user experience. They are deployed by businesses to deliver contextually relevant content and information to users at very specific locations. Moreover, beacons allow to provide "context-aware" information to the mobile user, opening up the possibility to connect the online (virtual) world with the offline (real) physical world. Bluetooth beacons are widely deployed by industries due to their low cost, simple deploy model and are supported by most mobile operating systems.
The global bluetooth beacons market is driven due to high adoption and demand in retail industry to provide customers with product information, flash sales or deals, and to speed up the checkout process with a completely contactless payments system. Also, high demand for beacons in airports and ground transit hubs to deliver instant notification to passenger regarding flight departures, delays, and gate and platform assignments is proliferating the market growth. However, lack of scalability and interoperability issues are restraining the market growth. Also, high initial investment cost and growing security and privacy concerns is obstructing the bluetooth beacons market growth. Increasing beacon range with high security and significant increasing adoption of beacons in healthcare and hospitality sector is expected to generate new opportunities for the participants in bluetooth beacons market.
The global bluetooth beacons market is segmented by technology standard, by application and by geography. Based on type, the market is segmented into hardware and software. Among these, hardware type is most preferred due to its high adoption in retail application and growing demand in airports and other transportation applications. However, with small organization actively taking part in the market, software segment is expected to grow in near future. On the basis of application, the bluetooth beacons market is segmented into retail, hospitality, transportation, healthcare, stadiums and others. Moreover, the market is also segmented in terms of geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa (MEA). North America is expected to lead the global bluetooth beacons market, primarily due to the developed economies and continuously adoption of new technology in retail and hospitality sector to enhance customer experience. Moreover, Asia Pacific is considered as the emerging market for bluetooth beacons market due to the increasing hospitality industry and retail sector in this region. The Latin America and MEA regions also depict great potentials in terms of adoption of bluetooth beacons.
The global bluetooth beacons market is highly competitive in nature and is marked with the presence of several international and domestic key players with hardware and software providers. Some of the industry participants dominating bluetooth beacons market are BlueCats, Estimote, Inc., Kontakt.io, Qualcomm Inc., Beaconinside GmbH, Blesh, Bluvision, Inc., Onyx Beacon Ltd., Polestar, Quuppa Oy, and Radius Networks, Inc.
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