Beacon Technology Market - Analysis and forecast To 2027, BlueCat’s, Onyx Beacon, Beaconinside, Cisco Systems Inc.

Beacon Technology Market is growing at a tremendous pace i.e. 38.0%CAGR owing to the robust adoption of operational technology in many industries such as logistics and transportation as it provides real-time asset tracking, growing penetration of IoT, mounting adoption of smartphones, and rising focus on business intelligence to have a competitive edge will propel the growth of the market. The increasing demand in the retail industry as it aids in building advertisements and campaigns will further drive the market growth.

The COVID-19 outbreak has had a positive impact on the global beacon market as beacon technology is used in various applications to stop the misinformation about a number of fatalities, diagnosis and treatment options, and vaccination. For example, Facebook and Google have united to aid NHS fight fake coronavirus news. The beacon technology is used by the government globally to avoid close contact during pandemic situations.

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Based on the platform, the AltBeacon segment is expected to grow fast as it offers various benefits like multiple vendor IDs and beacon codes and is an open and interoperable specification for proximity beacons. The AltBeacon is used in many industrial verticals.

North America dominates the global beacon market owing to the presence of retail giants in the region like Walmart, Kroger, and Tesco. There are many smart city initiatives that are done on a large scale by adopting BLE technology across verticals in the region.

The prominent players in the global beacon technology industry include Kontakt.io, Apple Inc., Glimworm Beacons, Google Inc., Madison Beacons, Qualcomm Inc., RECO, blueSense Networks, Gimbal, Swirl, Estimote Inc., BlueCat’s, Onyx Beacon, Beaconinside, Cisco Systems Inc., and Accent Systems.

Source: VynZ Research