New York, USA, Aug. 03, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global beacon technology market [250-Pages] is anticipated to garner a revenue of $45,213.7 million and grow at a healthy CAGR of 75.4% over the analysis timeframe from 2019 to 2026.
As per our analysts, with the rapid adoption of advanced communication technologies in the fields such as education, retail, healthcare, and many others, the beacon technology market is expected to witness progressive growth during the forecast period. Besides, the cost-effectiveness and easy deployment of beacon technology has a high significance in the retail and marketing sector, which is expected to fortify the growth of the market over the estimated period. Moreover, the increasing application of beacons in disaster management is expected to create huge growth opportunities during the analysis timeframe. However, the presence of alternative technologies such as kpeiz and Onlypult may hinder the growth of the market throughout the forecast period.
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Segments of the Beacon Technology Market
The report has divided the market into segments based on deployment model, platform, application, technology, and region.
Deployment Model: Cloud Sub-Segment to be Most Profitable
The cloud sub-segment is projected to generate a revenue of $23,330.3 million during the analysis timeframe. This is mainly because cloud-based beacons help companies to monitor and manage cloud-hosted services across a range of providers. Moreover, the increasing use of cloud-based networks in marketing, searching for accurate locations, and many more are expected to bolster the growth of the beacon technology market sub-segment over the forecast timeframe.
Platform: AltBeacon Sub-Segment to be Most Productive
The AltBeacon platform sub-segment is expected to garner a revenue of $14,332.7million over the analysis period. This is mainly because AltBeacon provides complete freedom to the developers to develop apps for the proximity beacons. Moreover, AltBeacon is free for all to implement and has a robust specification for device transformation, which is expected to augment the growth of the market sub-segment during the estimated period.
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Application: Education Sub-Segment to be Most Lucrative
The education sub-segment is predicted to garner a revenue of $6,917.7 million over the analysis period. This is mainly due to the drastic transformation brought by the beacon technology combined with smartphones in the education system. Furthermore, the multiple advantages of beacon technology in the education sector such as outstanding in-class experiences, better student and faculty relationships, and many more, are expected to upsurge the growth of the beacon technology market sub-segment during the forecast timeframe.
Technology: Wi-Fi Sub-Segment to be Most Beneficial
The Wi-Fi sub-segment is expected to generate a revenue of $9,268.8 million throughout the estimated period. This is majorly because of the increasing use of beacon technology for improving the experience of the Wi-Fi campus. Moreover, the growing use of advanced beacon hardware and wifi-based sensors is predicted to propel the growth of the market sub-segment during the analysis period.
Region: Europe Region to Hold the Maximum Share of the Market
The Europe region of the beacon technology market is projected to generate a revenue of $13,473.7 million over the forecast period. This is mainly because of the increasing adoption of beacon technology across many nations of this region due to the advanced internet infrastructures. Further, the extensive deployment of beacon technology in the application areas such as transportation, healthcare, and many more are expected to drive the regional growth of the market during the analysis timeframe.
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Key Players of the Beacon Technology Market
The major players of the beacon technology market include
- PaeDae, Inc.
- dba Gimbal
- HID Global Corporation/ASSA ABLOY AB.,
- Kontakt.io
- Estimote, Inc
- Apple Inc.
- RECO
- Glimworm Beacons
- SAMSUNG
- Qualcomm Technologies, Inc.
- Hewlett Packard Enterprise Development LP. and many more.
These players are widely working on the development of new business strategies such as product development, mergers and acquisitions, partnerships and collaborations, and many more. – Inquire here before buying the full report
For instance, in April 2022, Beacon Communications, a leading provider of innovative and intuitive technology solutions for a wide range of industries, announced its acquisition of Comtel Systems Technology, a full-service systems integrator providing communication and security systems for commercial, healthcare, and many more. With this collaboration, the companies aimed to focus on providing advanced technology solutions and services across Northern California.
In addition, the report also summarizes other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic development.
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- Beacon Technology: A Smart Move towards Smart Businesses
