Smart Beacon Market By End Use (Retail, Hospitality, Transportation & Logistics, Healthcare, BFSI, Education, and Others), Standard Type (iBeacon, Eddystone, and Others), Connectivity (Bluetooth Low Energy [BLE], Wi-Fi, and Hybrid), Offering (Hardware, Software, and Services), and - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2032

Industry : Information Technology | Pages : 173 Pages | Upcoming : Jun 2024


The Global Smart Beacon Market is projected to achieve a market size of $103.94 billion by 2030, growing at a compound annual growth rate (CAGR) of 37.70% from 2023 to 2030. Smart beacons, which are small and cost-effective devices using micro-location-based technology, can transmit radio frequency signals and notify nearby Bluetooth devices of their presence while relaying information.

The COVID-19 pandemic has had a negative impact on the Hospitality and Education industry. These industries have faced challenges due to the pandemic.
By capturing beacon signals with smartphones or other mobile devices, the distance can be estimated based on the received signal strength (RSSI). The strength of the signals increases as the receptive devices get closer to the beacons. Notably, beacons are commonly used in trade and economic sectors to enhance the shopping experience, provide improved services, and potentially boost sales. The adoption of smart beacon technology has proven to be a revolutionary and innovative development in recent times.

Various industries such as retail, transit systems, enterprises, educational institutions, event organizers, finance, and travel have begun utilizing beacon solutions to track and communicate with potential and existing customers. By installing beacons on shop walls, event locations, or public spaces, businesses can easily communicate with corresponding smartphone apps and accurately determine the current location of individuals. This enables retailers and event organizers to deliver targeted and personalized communications based on customer proximity.

During the forecast period, the global smart beacon market is poised for substantial growth. This growth can be attributed to factors such as advancements in communication technologies, increased investments in proximity marketing, and the growing adoption of smart devices. Proximity marketing aims to target potential customers with personalized advertisements based on their location, thereby enticing them to make a purchase.

In recent years, proximity marketing has attracted significant investment due to various factors, including its potential for successful sales, improved customer relationships, enhanced personalized experiences, and its real-time and cost-effective nature compared to traditional marketing methods. Additionally, the increasing penetration of mobile devices is driving the growth of proximity marketing.

However, the lack of technological resources and concerns regarding privacy and security act as major obstacles to the growth of the global smart beacon market. On the other hand, the rise of the organized retail industry presents opportunities for the smart beacon industry. Factors such as increased disposable income, improved living standards, the rise of consumerism, technological advancements, and the entry of foreign retailers contribute to the growth of the organized retail sector. This, in turn, fuels the demand for beacon technology in organized retail stores such as supermarkets, departmental stores, hypermarkets, and discounters, making them smarter.

In terms of segmentation, the smart beacon market is categorized based on standard type, connectivity, offering, end use, and region. Standard types include iBeacon, Eddystone, and others. Connectivity options comprise Bluetooth low energy (BLE), Wi-Fi, and hybrid. The market is further divided into hardware, software, and services in terms of offerings, with the hardware segment consisting of standard beacons, sticker beacons, and card beacons. The end-use sectors encompass retail, hospitality, transportation and logistics, healthcare, BFSI (Banking, Financial Services, and Insurance), education, and others.

The analysis of smart beacon market trends is conducted across different regions, namely North America (including the U.S., Canada, and Mexico), Europe (covering Germany, the UK, France, Italy, and the rest of Europe), Asia-Pacific (including China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Currently, North America dominates the market due to widespread adoption of smart beacon technology across various verticals, particularly in the retail sector, supported by the high penetration of mobile devices.

Several key factors significantly impact the growth of the smart beacon market. These include advancements in communication technologies, substantial investments in proximity marketing, and the increasing adoption of smart devices. However, market growth is constrained by the lack of technological resources and concerns regarding privacy and security. On the other hand, the rise of the organized retail industry presents lucrative opportunities for the market. Therefore, these factors are expected to have a definite impact on the global smart beacon industry during the forecast period.

The report also includes a competitive analysis and profiles of major market players, such as Fujitsu Components Ltd. (Japan), Radius Networks (U.S.), (U.S.), Cisco System (U.S.), Estimote (U.S.), Leantegra Inc. (U.S.), JAALEE Technology (China), HID Global (U.S.), Accent Systems (Spain), and Sensoro Co. Ltd. (China). These key players have adopted various strategies, including expanding their product portfolios, engaging in mergers and acquisitions, forming agreements, expanding geographically, and collaborating with others, in order to increase their market penetration and strengthen their position in the industry.

COVID-19 Impact Analysis
The global economy has been significantly affected by the COVID-19 pandemic, leading to restrictions on workforce and travel, disruptions in supply chains and production, and reduced demand and spending across multiple sectors. This sudden decline in infrastructure development is expected to hinder market growth for the retail, transportation, education, and hospitality sectors.

The smart beacon market has experienced a decline in its growth rate due to delayed development projects, resulting in a substantial impact. However, there has been an increased demand for smart beacons from the healthcare industry during the pandemic. Additionally, numerous market players have been investing in research and development of smart beacon technology worldwide. As a result, the smart beacon market size is anticipated to gain momentum by the end of 2023.

The COVID-19 outbreak has had both positive and negative effects on major businesses worldwide, disrupting production cycles and supply chains across industries. The retail industry, in particular, has faced significant challenges in overcoming the pandemic, as the number of infections continues to rise, with many regions experiencing a second wave.

The decrease in production by original equipment manufacturers (OEMs) and the reduced demand for smart beacons and other smart devices have slightly impacted the smart beacon market. However, as vaccines are being rolled out globally and the pandemic situation improves, especially in North America and Europe, the recovery of the smart beacon market is expected to receive a boost.

Key Benefits for Stakeholders:
• This study provides an analytical overview of the global smart beacon market outlook, including current trends and future estimations to identify potential investment opportunities.
• The analysis helps stakeholders understand profitable trends and gain a stronger foothold in the market.
• The report presents information on key drivers, restraints, and opportunities in the smart beacon market, along with a detailed impact analysis.
• The current smart beacon market forecast is quantitatively analyzed from 2020 to 2030 to assess financial competency.
• Porter's five forces analysis showcases the power of buyers and the market share of key vendors in the smart beacon market.
• The report includes market trends and the revenue share of key vendors.

Smart Beacon Market Key Segments
By Standard Type

• iBeacon
• Eddystone
• Others

By Connectivity
• Bluetooth Low Energy (BLE)
• Wi-Fi
• Hybrid

By Offering
• Hardware   
o Standard Beacon
o Sticker Beacon
o Card Beacon
• Software   
• Service   

By End Use
• Retail
• Hospitality
• Transportation & Logistics
• Healthcare
• Education
• Others   

By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
o Latin America
o Middle East
o Africa

Key Market Players
• Fujitsu Components Ltd.
• Radius Networks
• Cisco System
• Estimote
• Leantegra
• JAALEE Technology
• HID Global
• Accent Systems
• Sensoro Co. Ltd.


Table and Figures


At MarketDigits, we take immense pride in our 360° Research Methodology, which serves as the cornerstone of our research process. It represents a rigorous and comprehensive approach that goes beyond traditional methods to provide a holistic understanding of industry dynamics.

This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

Customize your Report
• Tailored advice to Drive your Performance
• Product Planning Strategy
• New Product Stratergy
• Expanded Research Scope
• Comprehensive Research
• Strategic Consulting
• Provocative and pragmatic
• Accelerate Revenue & Growth
• Evaluate the competitive landscape
• Optimize your partner network
• Analyzing industries
• Mapping trends
• Strategizing growth
• Implementing plans
A comprehensive cogent custom study with Analyzing Industries, Mapping Trends, Straterging growth & Implementing Plans. An in-depth and breadth of composite research, which gives complete support of the generation and evaluation of growth opportunities, and best practices recognition to help increase the revenue. Request a Custom Research below.
Request Customization

Covered Key Topics

Growth Opportunities

Market Growth Drivers

Leading Market Players

Company Market Share

Market Size and Growth Rate

Market Trend and Technological

Research Assistance

We will be happy to help you find what you need. Please call us or write to us:

+1 510-730-3200 (USA Number)