Technavio has been monitoring the beacon market and it is poised to grow by USD 15.99 billion during 2020-2024, progressing at a CAGR of almost 57% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Beacon Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions-
- What are the major trends in the market?
- Rising adoption of premium smartphones in emerging economies is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 57%, the incremental growth of the market is anticipated to be USD 15.99 billion.
- Who are the top players in the market?
- Apple Inc., BlueUp Srls, Estimote Inc., Gimbal Inc., Google LLC, Hewlett Packard Enterprise Co., Kontakt.io Inc., KS Technologies Inc., Radius Networks Inc., and Texas Instruments Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Benefits of proximity beacon marketing is one of the major factors driving the market. However, the concerns over data security and privacy restraints the market growth.
- How big is the North America market?
- The North America region will contribute 38% of market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Apple Inc., BlueUp Srls, Estimote Inc., Gimbal Inc., Google LLC, Hewlett Packard Enterprise Co., Kontakt.io Inc., KS Technologies Inc., Radius Networks Inc., and Texas Instruments Inc are some of the major market participants. The benefits of proximity beacon marketing will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Beacon Market 2020-2024: Segmentation
Beacon Market is segmented as below:
- North America
- South America
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Beacon Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The beacon market report covers the following areas:
- Beacon Market Size
- Beacon Market Trends
- Beacon Market Analysis
This study identifies rising adoption of premium smartphones in emerging economies as one of the prime reasons driving the beacon market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Beacon Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist beacon market growth during the next five years
- Estimation of the beacon market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the beacon market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of beacon market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type placement
- iBeacon – Market size and forecast 2019-2024
- Eddystone – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Apple Inc.
- BlueUp Srls
- Estimote Inc.
- Gimbal Inc.
- Google LLC
- Hewlett Packard Enterprise Co.
- Kontakt.io Inc.
- KS Technologies Inc.
- Radius Networks Inc.
- Texas Instruments Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.