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
A Smart Beacon is a small, wireless device that transmits a Bluetooth Low Energy (BLE) signal to near devices similar to smartphones. Smart lights can be used to give position-grounded services, similar to propinquity marketing, position-grounded advertising, and inner navigation. They're frequently used in retail stores, airfields, hospitals, and other public places to give substantiated gests to guests or callers.
The addition of position-based services and the rising usage of smartphones and other mobile devices are expected to create a major increase in the market for Smart Beacon worldwide in the future years. The increasing usage of lighting in healthcare and the rising requirement for accurate interior navigation are further factors driving the desire. The addition of the Internet of Things (IoT) and the expansion of light consumption in transportation are two additional elements influencing the increase of the Smart Beacon market.
The market for Smart Beacon is generally competitive, with many marketers providing a variety of goods and services. Significant participants in the market include Beaconstac, Kontakt.io, and Estimate. These marketers provide a variety of goods and services, including position-based services, smart lighting, and interior navigation outcomes.
Smart Beacon Market: Size and Share
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: Report Scope
Base Year Market Size
Forecast Year Market Size
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 the market for Smart Beacon.
- 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 the market for Smart Beacon.
- A Growing market for indoor navigation solutions: In a variety of locations, including retail establishments, airports, and hospitals, smart lights are being employed to provide inner navigation results. This is fueling the increase in the market for Smart Beacon.
- 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.
- The 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 the market for Smart Beacon.
Smart Beacon Market Challenges
Some challenges that may impact the growth of the smart beacon market are:
- Privacy concerns: There are marketers regarding the sequestration defenses of utilizing smart lights since they can monitor people's whereabouts and movements. This could deter some drug users from supporting programs 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 of the costly expense of policing and maintaining a network of Smart Beacon.
- 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 the smart beacon market are:
By Connectivity Type
- Bluetooth Low Energy (BLE)
By End User Industry
- Public Gatherings
- Financial Services
- North America (U.S., and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
- Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
- Latin America (Mexico, Argentina, Rest of Latin America)
- Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
Smart Beacon Market Regional synopsis
The Smart Beacon market is anticipated to grow significantly in the coming times, with the loftiest growth rates anticipated in Asia- Pacific and North America.
In Asia- Pacific, the Smart Beacon market is being driven by the added adoption of position-grounded services and the growing use of smartphones and other mobile devices. The region is also seeing the added use of lights in the healthcare industry, as well as the growing market for inner navigation results.
In North America, the Smart Beacon market is being driven by the adding adoption of the Internet of Effects ( IoT) and the growing use of lights in the transportation industry. The region is also seeing the added use of lights in the healthcare industry, as well as the growing market for inner navigation results.
The Smart Beacon market is also anticipated to grow significantly in Europe and the Middle East and Africa( MEA). In Europe, the market is being driven by the added adoption of position-grounded services and the growing use of smartphones and other mobile devices. The region is also seeing the added use of lights in the healthcare industry, as well as the growing market for inner navigation results.
The expanding usage of lights in the transportation industry and the addition of the Internet of Things (IoT) in the MEA are what is driving the market for Smart Beacon. Additionally, the region is witnessing an increase in the usage of lighting in healthcare facilities and a rise in the need for accurate interior navigation.
Smart Beacon Market Key Players
key players in the global smart beacon market