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Global Smart Beacon Market to reach USD XX billion by the end of 2030.

Global Smart Beacon Market Size study & Forecast, by Standard Type (iBeacon, Eddystone and Others) by Communication Portal (Hardware, Software and Service), by End User (Retail, Hospitality, Transportation & Logistics, Healthcare, BFSI and Others), and Regional Analysis, 2023-2030

Product Code: ENGE-34070561
Publish Date: 10-06-2023
Page: 200

Global Smart Beacon Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. A smart beacon is a proximity device that uses Bluetooth low-energy proximity sensing technology to broadcast a signal when used with a compatible app or operating system. When a mobile device enters the range of the beacon, it tracks the customer and determines the device’s actual location before sending an allocation-based notice to the device. For instance, smart beacons are utilized in brick-and-mortar retail locations for mobile commerce to alert customers to special discounts. The Smart Beacon Market is expanding because of factors such as the rising adoption of smart devices and the increasing retail industry.

Beacon technology, a location-based proximity marketing tool, is currently being used by retailers to enhance the shopping experience for customers, boost sales, and boost productivity.
Using Bluetooth low energy (BLE) beacon technology, one can seamlessly integrate online and in-store experiences. Retail beacons can keep track of details such as when customers shop, how long they spend there, and what they typically buy. Retailers may utilize this information to enhance their beacon marketing campaigns and make in-store enhancements. Thus, the rising number of retail stores across the world is driving market growth. According to the USDA Foreign Agriculture Service, as of the year 2022, there were around 13 million retail grocery stores found in India. Along with these, according to Statista, there has been a rise in the number of supermarket stores in Japan. As in year 2018, there were around 4,997 supermarkets present in Japan which increased to 5,806 supermarkets in the year 2020. Thus, the rising number of supermarket and grocery stores is indicating the rising retail industry which is driving the market growth. In addition, rising industrialization and globalization and increasing adoption of beacons in the logistics and transportation industry is creating the lucrative opportunity for the market. However, the requirement of high skill for the creation of beacon solutions and the increasing trend toward offline stores for opting for online platforms in the retail sector stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Smart Beacon Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high penetration of smart beacon technology in end-user industries, which includes retail, public transportation, logistics, and hospitality and the presence of key market players. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising number of grocery stores, and rising demand from the logistics industry in the region.

Major market player included in this report are:
Fujitsu Components Ltd.
Radius Networks
Cisco System
Estimote Inc
Leantegra Inc.
JAALEE Technology Co. Ltd
HID Global
Accent Systems
Sensoro Co. Ltd

Recent Developments in the Market:
Ø In November 2022, Infsoft has introduced a new Locator Beacon. To track clients and servers, the improved Infsoft Locator Beacon employs Bluetooth Low Energy and Ultra-wideband tracking technologies. The new hardware from the full-service provider with headquarters in Ingolstadt allows large organizations to implement a number of use cases based on the locator infrastructure.
Ø In December 2021, Sigfox and CAR-LITE introduced a novel light beacon that can transmit precise position information regarding a vehicle failure. This is accomplished by using Sigfox’s 0G network technology, which enables the transmission of data even in the absence of an internet connection, Wi-Fi, or SIM card.
Global Smart Beacon Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Standard Type, Communication Portal, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Standard Typeofferings of key players. The detailed segments and sub-segment of the market are explained below:

By Standard Type:

By Communication Portal:

By End User:
Transportation & Logistics

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Smart Beacon Market, by Region, 2020-2030 (USD Billion)
1.2.2. Smart Beacon Market, by Standard Type, 2020-2030 (USD Billion)
1.2.3. Smart Beacon Market, by Communication Portal, 2020-2030 (USD Billion)
1.2.4. Smart Beacon Market, by End User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Smart Beacon Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Smart Beacon Market Dynamics
3.1. Smart Beacon Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising Adoption of Smart Devices Increasing retail industry
3.1.2. Market Challenges Requirement of High Skill for the Creation of Beacon Solution Increasing Trend toward Offline Stores for Opting Online Platforms in Retail Sector
3.1.3. Market Opportunities Rising industrialization and globalization Increasing adoption of beacons in the logistics and transportation industry
Chapter 4. Global Smart Beacon Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Smart Beacon Market, by Standard Type
5.1. Market Snapshot
5.2. Global Smart Beacon Market by Standard Type, Performance – Potential Analysis
5.3. Global Smart Beacon Market Estimates & Forecasts by Standard Type 2020-2030 (USD Billion)
5.4. Smart Beacon Market, Sub Segment Analysis
5.4.1. iBeacon
5.4.2. Eddystone
5.4.3. Others
Chapter 6. Global Smart Beacon Market, by Communication Portal
6.1. Market Snapshot
6.2. Global Smart Beacon Market by Communication Portal, Performance – Potential Analysis
6.3. Global Smart Beacon Market Estimates & Forecasts by Communication Portal 2020-2030 (USD Billion)
6.4. Smart Beacon Market, Sub Segment Analysis
6.4.1. Hardware
6.4.2. Software
6.4.3. Service
Chapter 7. Global Smart Beacon Market, by End User
7.1. Market Snapshot
7.2. Global Smart Beacon Market by End User, Performance – Potential Analysis
7.3. Global Smart Beacon Market Estimates & Forecasts by End User 2020-2030 (USD Billion)
7.4. Smart Beacon Market, Sub Segment Analysis
7.4.1. Retail
7.4.2. Hospitality
7.4.3. Transportation & Logistics
7.4.4. Healthcare
7.4.5. BFSI
7.4.6. Others
Chapter 8. Global Smart Beacon Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Smart Beacon Market, Regional Market Snapshot
8.4. North America Smart Beacon Market
8.4.1. U.S. Smart Beacon Market Standard Type breakdown estimates & forecasts, 2020-2030 Communication Portal breakdown estimates & forecasts, 2020-2030 End User breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Smart Beacon Market
8.5. Europe Smart Beacon Market Snapshot
8.5.1. U.K. Smart Beacon Market
8.5.2. Germany Smart Beacon Market
8.5.3. France Smart Beacon Market
8.5.4. Spain Smart Beacon Market
8.5.5. Italy Smart Beacon Market
8.5.6. Rest of Europe Smart Beacon Market
8.6. Asia-Pacific Smart Beacon Market Snapshot
8.6.1. China Smart Beacon Market
8.6.2. India Smart Beacon Market
8.6.3. Japan Smart Beacon Market
8.6.4. Australia Smart Beacon Market
8.6.5. South Korea Smart Beacon Market
8.6.6. Rest of Asia Pacific Smart Beacon Market
8.7. Latin America Smart Beacon Market Snapshot
8.7.1. Brazil Smart Beacon Market
8.7.2. Mexico Smart Beacon Market
8.8. Middle East & Africa Smart Beacon Market
8.8.1. Saudi Arabia Smart Beacon Market
8.8.2. South Africa Smart Beacon Market
8.8.3. Rest of Middle East & Africa Smart Beacon Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Fujitsu Components Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Radius Networks
9.3.3. Kontakt.io
9.3.4. Cisco System
9.3.5. Estimote Inc.
9.3.6. Leantegra Inc
9.3.7. JAALEE Technology Co. Ltd
9.3.8. HID Global
9.3.9. Accent Systems
9.3.10. Sensoro Co. Ltd.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
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Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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