Smart Beacon Market Analysis By Connectivity Type (Bluetooth Low Energy (BLE) and Hybrid), Beacon Standard (Ibeacon and Eddystone), Offerings (Hardware, Software and Service), By End User - Global Opportunity Analysis and Industry Forecast, 2023-2032
Smart Beacon Market Overview
Smart beacons are wireless devices equipped with sensors and communication technologies that generate signals that communicate with nearby smartphones or other compatible devices These beacons enable location-based services, such as proximity marketing, . providing navigation and contextual information, and enhancing the user experience in a variety of applications including retail and tourism
The integration of context-based services and increasing adoption of smartphones and other mobile devices is expected to fuel the global smart beacon market in the coming years . This is widespread use in health care and the need for successful internal communication are several factors driving the desire. The addition of the Internet of Things (IoT) and the expanded use of light in transportation are two other factors influencing the growth of the smart lighting market
The smart beacon market is generally competitive, with many markets offering a variety of products and services. Important players in the market are Beaconstac, Kontakt.io and Estimote. These markets offer a variety of products and services, such as context-based services, smart lighting, and outbound connectivity
Smart Beacon Market accounted for USD 3.8 billion in 2022 and is estimated to be USD 31.7 billion by 2032 and is anticipated to register a CAGR of 31.5%.
Smart Beacon Market key Drivers
Some key drivers that are contributing to the growth of the smart beacon market are:
Increasing adoption of location-based services: Position-based services like proximity marketing, position-based advertising, and interior navigation are all provided by smart lighting. This is fueling the increase in market for smart lamps.
Growing use of smartphones and other mobile devices: The increasing usage of smartphones and other mobile devices is increasing market for smart lighting since these devices can accept signals from lights and provide location-based services to users.
Increasing use of beacons in the healthcare industry: In order to provide position-based services and improve patient care, smart lights are being employed in hospitals and other healthcare settings. This is fueling the increase in market for smart lamps.
Growing market for indoor navigation solutions: In a variety of locations, including as retail establishments, airports, and hospitals, smart lights are being employed to provide inner navigation results. This is fueling the increase in market for smart lamps.
Increasing adoption of the Internet of Things (IoT): As more devices are becoming connected to the Internet of Things (IoT), there is an increasing need for smart lighting since these devices can connect to and communicate with other IoT devices.
Growing use of beacons in the transportation industry: Position-based services are provided by smart lighting in the transportation industry, which increases efficiency. This is fueling the increase in market for smart lamps.
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Smart Beacon Market: Report Scope |
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Base Year Market Size |
2022 |
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Forecast Year Market Size |
2023-2032 |
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CAGR Value |
5.9% |
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Segmentation |
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Challenges |
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Growth Drivers |
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Smart Beacon Market Challenges
Some challenges that may impact the growth of the smart beacon market are:
Privacy concerns: There are markets regarding the sequestration defense of utilising smart lights since they can monitor people's whereabouts and movements. This could deter some drug users from supporting programmes with a strong foundation.
Limited awareness: Some drug users may not be fully aware of the possibilities and hidden applications of smart lighting, which might hinder their ability to let go of these devices.
Competition from alternative technologies: There is competition from necessary technologies like GPS that provide comparable position-based services. This can restrict the distribution of smart lighting.
High cost: Some drug users may be discouraged from advocating these devices because to the costly expense of policing and maintaining a network of smart lamps.
Interoperability issues: Interoperability problems between various smart bulb systems can make it harder to let go of these devices.
Limited battery life: Some smart lights short battery lives may provide a problem since they must be regularly recharged or changed out.
Smart Beacon Market Segmentation
Segmentation of smart beacon market are:
By Type: USB, battery-powered, and hardwired.
By Range: Short-range, medium-range, and long-range.
By Application: Proximity marketing, location-based advertising, indoor navigation, and asset tracking.
By Industry: Retail, healthcare, transportation, and hospitality.
By Region: North America, Europe, Asia-Pacific, and the Middle East and Africa (MEA).
Smart Beacon Market Regional synopsis
The smart beacon market is expected to experience growth in the future with the highest growth rates projected in Asia Pacific and North America. In Asia Pacific the demand, for lamps is being driven by the increasing adoption of location based services and the growing use of smartphones and other mobile devices. The region is also witnessing a rise in the use of lights in healthcare settings and an expanding market for navigation solutions.
Similarly in North America the smart lamp market is fueled by the increasing adoption of IoT (Internet of Things) and the growing integration of lights in transportation systems. Like Asia Pacific this region also observes a surge in using lights within healthcare facilities and an expanding market for navigation applications.
Furthermore Europe and Middle East Africa (MEA) are expected to witness growth in the lamp market as well. In Europe this growth is driven by the increasing adoption of location based services along, with smartphone usage. The healthcare industrys utilization of lights and expanding navigation solutions also contribute to this trend.
The growing adoption of lighting in the transportation sector, coupled with the integration of the Internet of Things (IoT), in the Middle East and Africa is fueling the demand for lamps. Moreover there is a surge in using lighting systems in healthcare facilities and a rising demand, for interior navigation.
Smart Beacon Market key Players
key players in the global smart beacon market
- Estimote Inc. (US)
- io (Poland)
- Cisco Systems Inc. (US)
- Gimbal Inc (US)
- Leantegra Inc. (US)
- Sensor Co.Ltd (US)
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- Publication date: 5th October 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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