Bluetooth Beacons Market: Overview
Bluetooth beacons are becoming increasingly popular across industries as they are a cost effective and simple deploy model. As these beacons are supported by almost all operating systems, their demand is expected to increase. Bluetooth beacons are deployed by businesses to send content and information, which are contextually relevant, to users at specific locations. They open up the probability of connecting the online virtual world with the offline, physical world by providing context –aware information to mobile users. Bluetooth beacons devices broadcast signals and messages to smart devices under range, in the form of notifications. They basically consist of a chip and various electronic components on a small circuit board. As these devices offer a more personalized and enhanced user experience, the market for Bluetooth beacons is projected to grow at a healthy pace.
This report is a comprehensive evaluation of the global Bluetooth beacons market, providing key insights into the step by step evolution of the market. Analyzing the past and present market state, the future of the industry is predicted by seasoned analysts. The study contains information regarding every facet of the Bluetooth beacons market, including current trends in the market and future growth opportunities. The factors driving the market and those that are challenging the growth of the market are also given in the report. The market has been evaluated from both the regional as well as global level. Technology developments, applications, classifications, and competitive landscape are also included in the report.
Bluetooth Beacons Market: Trends and Opportunities
A surge in organized retailing such as hypermarkets, supermarkets, specialty stores, department stores, cash and carry stores, and discounters is escalating the growth of Bluetooth beacons market. This is because Bluetooth beacons are used in retail industries for providing customers with deals, flash sales, product information or to simply speed up the checkout process by contactless payment systems. Product distribution and multichannel marketing have become key trends in the retail sector and this is driving the growth of the Bluetooth beacons market, as manufacturers are compelled to develop software for beacons. Bluetooth beacons are also in high demand from airports and ground transit hubs as they enable the delivery of instant notifications regarding flight delays, departures, and gate and platform information to passengers.
Some of the factors restricting the growth of the market include growing concerns regarding privacy and security and a lack of scalability. Interoperability issue is another challenge faced by the industry. However, the growing use of Bluetooth beacons in the healthcare sector is expected to emerge as an opportunity in the market. The improved security and enhanced range is also projected to create a positive outlook for the global Bluetooth beacons market.
Bluetooth Beacons Market: Geographical Analysis
On account of developed economies and nonstop adoption of new technology in the retail sector, the North American Bluetooth beacons market is leading and anticipated to continue to do so in the coming years. Among other regions, Asia Pacific is emerging as a lucrative market for Bluetooth beacons. The Middle East and Africa and Latin America are also anticipated to hold significant growth opportunities in the coming years.
Companies Mentioned in the Report
Some of the leading players operating in the bluetooth beacons market are BlueCats, Kontakt.io, Estimote, Inc., Qualcomm Inc., Blesh, Radius Networks, Inc., Beaconinside GmbH, Bluvision, Inc., Polestar, Onyx Beacon Ltd., and Quuppa Oy. The market is extremely competitive and characterized by the presence of both hardware and software providers.
Market segmentation based on geography:
- North America
- Asia Pacific
- Rest of the World
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.