(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Dec 25, 2020, 07:23 /Comserve / -- The beacon technology market anticipated to register a revenue of $45,213.7 million by 2026, increasing from $504.7 million in 2018 at a CAGR of 75.4%.
The beacon Technology market anticipated to register a revenue of $45,213.7 million by 2026, increasing from $504.7 million in 2018 at a CAGR of 75.4%.
The beacon is a wireless, transmitter device that uses low-energy Bluetooth technology to send signals to another smart device. Beacons are simple devices consisting of three parts like the radio, CPU (central processing unit), and batteries, which are mainly used for location technology and proximity marketing.
The rising adoption of the Internet of Things (IoT) across the globe is one of the key factors for the beacon technology market growth. The enormously growing demand for integrated communication technologies in areas like retail, healthcare, hospitality, and education is expected to foster the growth of the global market, during the analysis period. Moreover, in recent days, beacons are massively used for election campaigning. Moreover, beacon technology is an excellent platform for attracting people and providing useful and relevant information. Alternatives like HubSpot Marketing, Onlypult, and kpeiz social media management platforms are projected to hinder the growth of the global beacon technology market.
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The rising promise of beacon technology is highlighted by many global market players. Many companies have designed a secure disaster notification system by using a beacon. The number of disaster occurrences around the world has risen drastically. Beacon technology plays an essential role with the help of IoT for the detection of the disaster at the early stages. These technological evolutions of beacons are expected to create extensive opportunities for beacon technology in the global market.
Based on the deployment model, the global beacon technology market is fragmented into cloud and on-premise. The cloud segment will have rapid growth in the market and it is expected to cross $23,330.3 million by 2026, increasing from $242.8 million in 2018.
Based on the platform, the global beacon technology market is categorized into iBeacon, AltBeacon, and Eddystone. The AltBeacon platform of the beacon technology market will be the fastest growing and it is projected to surpass $14,332.7 million by 2026, with the increase from $148.4 million in 2018.
Based on the application, the global beacon technology market is broadly categorized into travel, tourism & hospitality, real-estate, retail, healthcare, education, financial Institution. The beacon technology for education will have massive growth and it is anticipated to generate a revenue of $6,917.7 million by 2026, throughout the forecast period.
Based on the technology, the global beacon technology market is segmented into ultrasound, combined technologies, Wi-Fi, and BLE. The Wi-fi segment of beacon technology will have rapid growth and it is expected to cross $9,268.8 million by 2026, growing at a healthy CAGR of 76.6%, over the forecast period.
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The Asia-Pacific beacon technology market is a lucrative market and it is expected to surge at a CAGR of 76.7% by generating revenue of $11,258.2 million by 2026. The Europe beacon technology market was valued at $161.5 million in 2018, and it is projected to generate revenue of $13,473.7 million by 2026.
The established beacon technology market players are Apple Inc., PaeDae, Inc. dba Gimbal, RECO, Glimworm Beacons, by Kontakt.io, Estimote, Inc, Hewlett Packard Enterprise Development LP., SAMSUNG, Qualcomm Technologies, Inc., and HID Global Corporation/ASSA ABLOY AB.
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