Global Smart Beacon Market By Component (Hardware, Software, and
Services), End-user (Retail, Transportation & Logistics, Sports, Public
Gatherings & Spaces, Hospitality, Others), and Region (North America,
Europe, Asia Pacific, RoW) – Forecast up to 2025
This market research report includes a detailed segmentation of the global smart beacon
market by component (hardware, software, and services), end-user (retail,
transportation & logistics, sports, public gatherings & spaces, hospitality, others), and
region (North America, Europe, Asia Pacific, RoW)
Overview: Global Smart Beacon Market
Digital transformation has become pivotal to an organization's future success. Like
never, today’s customers are more digitalized and willing to use smart apps for lifestyle
management. As a result, companies are focusing on developing a customer-centric
strategy to enhance the customer experience. This has created the demand for smart
beacons across verticals, as these beacons are equipped to connect with the customer
more precisely by delivering more personalized content such as customized promotional
offers and other personalized information.
In 2012, Bluetooth SIG announced BLE features with version 4.0 of the Bluetooth
specification and commercialized with the launch of Apple’s iBeacon in 2013. In 2015,
Google launched Eddystone, and the adoption of Eddystone has started to increase
because of its functionality. Eddystone is an open beacon format that offers three
payload types – Eddystone URL, Eddystone UID (unique ID), and Eddystone TLM
(telemetry information).
Google has launched two APIs (Nearby API and Proximity Beacon API) that help
Eddystone to gain more prominence. But in October 2018, Google announced that
Android will discontinue support for Nearby Notifications from December 6th, 2018, due
to misuse of the service resulting in irrelevant and spammy marketing messages being
delivered as notifications on Android phones. As a result, many considered proximity
marketing is no longer viable, but the market continued to grow due to consumer
willingness to download branded app promoted by the company to its product or service.
20182025$XX Mn $XX Mn CAGR53.6%2019 -2025
Market Segmentation: Global Smart Beacon Market
The global smart beacon market is segmented into components, end-users, standard,
and regions. Based on components, the global smart beacon market is segmented into
hardware, software, and services. Based on end-users, the global smart beacon market
is segmented into retail, transportation & logistics, sports, public gatherings & spaces,
hospitality, and others. The retail segment was dominant in 2018 and is expected to
remain dominant throughout the forecast period. This is mainly due to the increasing
focus on enriching customers with better location and proximity-based user experiences.
Based on the standard, the global smart beacon market is segmented into iBeacon,
Eddystone, and others. Among others, the Eddystone segment is projected to be the
fastest-growing segment, valued at more than $500 million in 2018, and is expected to
grow at a CAGR of 67.8% during the forecast period 2019–2025.
Regional Outlook: Global Smart Beacon Market
Regionally, the global smart beacon market is segmented into North America, Europe,
Asia Pacific, and Rest of the World (RoW). In terms of revenue, Europe dominates the
global smart beacons market, contributing around 47% market share in 2018 and is
likely to maintain significant market share throughout the forecast period. This is mainly
due to continuous preference for location-based services particularly in transport &
logistics, retail, and tourist destinations. Asia Pacific is identified as the fastest-growing
region, i.e., at a CAGR of 58.2% during the forecast period 2019–2025.
Competitive Analysis and Key Vendors: Smart Beacon Market
The report covers and analyzes the global smart beacon market. Vendors are
increasingly focusing on developing new use cases, product innovation, and expanding
their distribution network.
Few of the Key Vendors in the Smart Beacon Market
Hewlett Packard Enterprise (Aruba Networks)
Estimote, Inc.
Bluvision Inc.
Kontakt.io
Radius Networks, Inc.
Accent Advanced Systems, SLU
BlueUp Srls
Sensoro Co., Ltd.
Shenzhen Minew Technologies Co., Ltd.
The report on the smart beacon market contains an in-depth analysis of vendors, which
includes financial health, business units, key business priorities, SWOT, strategies, and
views; and competitive landscape. The study offers a comprehensive analysis of the
“global smart beacon market”. Bringing out the complete key insights of the industry,
the report aims to provide an insight into the latest trends, current market scenario, and
technologies related to the market. In addition, it helps the venture capitalists, smart
beacon vendors, component manufacturers, contract manufacturers, and distributors to
understand revenue opportunities across different segments to execute better
investment evaluation.
Global Smart Beacon Market: Market Segmentation
Global Smart Beacon Market, By Component
o Hardware
o Software
o Services
Global Smart Beacon Market, By End-user
o Retail
o Transportation & Logistics
o Sports
o Public Gatherings & Spaces
o Hospitality
o Others
Global Smart Beacon Market, By Geography
o North America
o Europe
o Asia Pacific
o RoW