ID: MRFR/SEM/7078-HCR | February 2021 | Region: Global | 111 pages
BLE Beacons Market was valued at USD 3.12 Billion in 2018; it is expected to reach USD 15.49 Billion by the end of the forecast period at a CAGR of 26.8%.
Bluetooth low energy (BLE) is a wireless broadcasting device that is used to transmit signals to mobile devices in its proximity. These signals include promotional messages, advertisements, notifications, video messages, and links to customers in order to make them aware of new products or services available in a particular store or section of the store. The BLE beacons are widely used in retail stores, and travel & tourism and education. The market has also observed its growing demand in the healthcare sector for sending out emergency alerts and notifications. The major advantage of using BLE beacons is their ability to have a low impact on battery life, high reach to customers through personal advertising, and do not require an internet connection to establish communication. The factors that help in the market growth include the growing demand for proximity marketing, and increased disposable income and technological impact on the consumers.
In the era of digital marketing concepts, consumers prefer more personalized marketing or an advertising approach to move for a purchase. This is known as proximity marketing where an individual customer is targeted based on his/her previous and current activities. The use of BLE beacons has witnessed high conversion rates over traditional marketing. Apple Inc. used to carry out proximity marketing using beacons for its customers visiting the Apple store for purchase. This marketing approach has highly impacted the growth of BLE beacons across the globe. Moreover, several new hypermarkets and supermarkets are opening up in emerging economies with a digital ecosystem that encourages retailers to adopt beacons. In addition, the increased ownership of smartphones has transformed the advertising techniques. Ads received on mobile phones are trusted and are being adopted more than those received on e-mails and paper advertising. It has been observed from a survey that nearly 75% of smartphone users look for information on their smartphones before purchasing. Since the BLE beacons are cheaper to purchase and implement, they have several opportunities in the near future. However, lack of awareness about BLE beacons and risk of security breach hampers the market growth.
The Global BLE Beacons Market has been segmented based on Type, Application, and Region.
By type, the BLE beacons market has been segmented into Ibeacon, Eddystone, and others.
By application, the BLE beacons market has been segmented into retail, healthcare, manufacturing, media & entertainment, travel & tourism, education.
By region, the BLE beacons market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Globally, the BLE beacons market has been categorized into five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Among the regions mentioned above, North America dominates the BLE beacon market owing to the early adoption of proximity marketing, high ownership of smartphones, a high number of retail stores, and growing tourism industry. The US and Canada are among the top contributors with a combined market share of approximately 40%. However, Europe is the second-largest revenue-generating region for the BLE beacon market after North America. Countries such as the UK, Germany, Italy, and France are among the leading adopters of BLE beacons in travel & tourism and healthcare industries. Asia-Pacific is expected to showcase the highest CAGR.
Global BLE Beacons Market, USD Billion
Source: MRFR Analysis
The Global BLE Beacons Market is characterized by the presence of several global vendors. The competition among the existing players for shares in the market is moderately intense. Cost, quality, accuracy, and reliability of products are some of the factors that help vendors to sustain in an intensely competitive market. Furthermore, technological advancements for the adoption of BLE beacons across the retail market are expected to fuel the growth of the BLE beacons market during the forecast period.
The Key Players in the BLE Beacons Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are UFO Beacons, BlueCats, Proximity Solutions, Mobstac Inc, Estimote Inc., K2B Solutions, Gelo, JK Technosoft, Hewlett Packard Enterprise Development LP, Google LLC, and Apple Inc. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 25–30% in the BLE beacons market.
Frequently Asked Questions (FAQ) :
At 26.8% CAGR, the BLE beacons market value at USD 15.49 Bn by 2025.
UFO Beacons, Proximity Solutions, BlueCats, Estimote Inc., and Mobstac Inc, are some prominent players of the BLE beacons market.
In 2018, the global BLE beacons was valued at USD 3.12 Bn.
Ibeacon and Eddystone are types of BLE beacons.
The tourism and travel sector is a high end-user of BLE beacons. Other sectors are that are end-users of BLE beacons are retail, manufacturing, healthcare, and media & entertainment.