The estimated value of the global iBeacon and Bluetooth beacon market in 2022 is US$ 9,675.2 Million. The third industrial revolution, or the creation of smart infrastructure centred on the Internet of Things (IoT), is currently taking place around the world. Continuous technological development is a major driver of the global retail and business sector change.
Sales increased significantly between 2016 and 2021, with a CAGR of 24.3%. Since then, several manufacturers have produced beacons and hardware transmitters that are iBeacon compatible. The technology enables tablets, smartphones, and other devices to do tasks including sending or disseminating messages and roughly determining the location when an iBeacon is nearby.
IBeacon technology includes both hardware and software components. With OS 7, devices running the iPod touch (5th generation), iPad mini, iPad (3rd generation), and iPhone 4s are all compatible with iBeacon. Along with Bluetooth 4.0, OS X Mavericks 10.9, Android 4.3+, Windows Phone handsets (Lumia Cyan update or higher), and Mac computers.
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Various applications offered by iBeacon and Bluetooth beacon include alert or push notifications sent to iBeacon enabled devices, whenever the iBeacon user is around an iBeacon-enabled retail shop (special offers), museum (sporting event/closest display), bus stop and other locations. Travel industries are undergoing major deployments of beacon technology in airports and hotels.
iBeacon and Bluetooth beacons are intensively used in smartphones. The overall demand for iBeacon and Bluetooth Beacon is projected to grow at a CAGR of 27.4% between 2022 and 2032, totalling around US$ 110254.5 Million by 2032.
Which Drivers Underpin iBeacon and Bluetooth Beacon Industry Expansion?
Growing Advancements in IT Industry to Spur Sales
Advancements in IT solutions such as the Internet of Things (IoT), rising awareness about iBeacon technology, a growing number of accessories, low power requirement and low cost, growing smartphone usage and increasing purchasing power of consumers resulting in increased smartphone usage are some of the key factors propelling the growth of the global iBeacon and Bluetooth Beacon market.
In addition to this, this enormous growth can be attributed to various key aspects such as the implementation of beacons in retail stores to engage customers, consistency in the growth of smartphones and related technologies and increasing use of beacons in industries for enhancement of safety.
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Key Segments Covered in the iBeacon and Bluetooth Beacon Industry Analysis
By Component:
- iBeacon and Bluetooth Beacon Hardware
- iBeacon and Bluetooth Beacon Software
By Technology Platform:
- iBeacon
- Eddystone
- Others
By End Use:
- iBeacon and Bluetooth Beacon for Retail
- iBeacon and Bluetooth Beacon for Airports
- iBeacon and Bluetooth Beacon for Museums
- iBeacon and Bluetooth Beacon for Manufacturing & R&D
- iBeacon and Bluetooth Beacon for Transportation
- iBeacon and Bluetooth Beacon for Buildings & Infrastructure
- iBeacon and Bluetooth Beacon for Other End Uses
By Region:
- North America iBeacon and Bluetooth Beacon Market
- Latin America iBeacon and Bluetooth Beacon Market
- Europe iBeacon and Bluetooth Beacon Market
- South Asia iBeacon and Bluetooth Beacon Market
- East Asia iBeacon and Bluetooth Beacon Market
- Oceania iBeacon and Bluetooth Beacon Market
- Middle East and Africa (MEA) iBeacon and Bluetooth Beacon Market
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
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