Beacon Market is segmented on the basis of product type, application and regional and country level analysis. Based upon by product type, global beacon market is classified into LED, Halogen, Xenon. Based upon application, the global beacon market is classified as navigation, defensive communication and others.
Beacon Market is valued at USD 418.3 Million in 2018 and expected to reach USD 18053.7 Million by 2025 with CAGR of 60.1% over the forecast period.
A beacon is an intentionally conspicuous device designed to draw in attention to a selected location. Beacons are small, wireless transmitters that use low-energy Bluetooth technology to send signals to other smart devices nearby. They are one of the latest developments in location technology and proximity marketing. The use of the term beacon in satellite communications can instead refer to a tracking device used by control engineers on the ground to monitor the satellite. Beacons may also be combined with semaphore or different indicators to supply necessary important information, such as the status of an airport, by the color and rotational pattern of its airport beacon or of unfinished weather as indicated on a weather beacon mounted at the highest of a tall building or similar Website. Beacons are of two types infrared and sonar beacon. Infrared beacon (IR beacon) transmits a modulated modulate visible light within the spectrum, which might be known simply and positively. Sonar beacon is an underwater device which transmits sonic or ultrasonic signals for the purpose of providing bearing information.
The regions covered in this Global Beacon Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Beacon is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Beacon market report covers prominent players like:
Increasing Adoption of Smart Devices and the Concept of Smart Cities are Expected Drive Growth of Global Smart Beacon Market.
Smart city initiatives involve three components which includes: information and communication technologies that generate and aggregate data analytic tool that convert the data into usable information and organizational structures that encourage collaboration, innovation and also the application of that information to solve public issue. A smart town could be a town that has developed some technological infrastructure that allow it to gather, aggregate and analyzes real-time data and made a concerted effort to use that information to enhance the lives of its residents. The central government approved a budget of USD 7.8 billion to be spent over a five-year period 2016 to 2020 on smart cities initiative in 100 designates cities in India. India is independent to provide core infrastructure and give a decent quality of life to its citizens, a clean and sustainable environment, and application of a smart solutions focusing on property and inclusive development in compact areas to form a replicable model for different aspiring cities. Increasing investment in proximity marketing is also anticipated to supplement the market growth. Proximity marketing is the act of advertising to a customer supported their location. But a lot of and more proximity selling campaigns go live, marketers all over are now beginning to realize that there is more to proximity marketing than merely delivering vouchers and coupons. During this forecast period, BLE beacon-based proximity marketing is predicted to grow at the highest CAGR. The e-Commerce market growth and growing digitization are increasing the proximity marketing market. However, privacy concern may hamper the market growth.
North America is Expected to Dominate the Global Beacon Market
Geographically, the opportunities available in the global Beacon market in the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. North America has been experiencing strong growth in the smart beacon market, due to the high adoption rate of this technology. North America is expected to account for the majority of proximity selling market share with high penetration of mobile devices in U.S. and Canada by 2024. The high adoption of proximity selling tools in retail and attention sector is additionally one in all the foremost reasons for the expansion. Asia Pacific is anticipated to be the fastest growing market owing to the increased investment by developing countries (especially India, China and Japan) in the region. Besides the expanding IT landscape, the government is seamlessly investing in research and development. In addition, extensive penetration of the Internet, increasing demand for wireless technology, and adoption of smart devices in the region are also supplementing the market growth. Europe is additionally one in all distinguishes players within the proximity marketing space. The plethora of e-commerce in the region is boosting the market. The simplicity of content management and location analytics provided by beacon technology is driving the growth of proximity selling market.
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By Regional & Country Analysis:
Middle East and Africa
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