Growing penetration of IoT and growing government initiatives to improve the retail industry are driving the market demand.

VANCOUVER, BC, CANADA, March 19, 2022 /EINPresswire.com/ — The global Beacon technology market is expected to be worth $35.15 billion by 2027, according to current analysis from Emergen Research. The beacon technology market is expected to grow significantly owing to the increasing penetration of Internet of Things technology, increasing investment in proximity marketing, and growing demand for sensor-based devices across different industries. The growth of organized retail stores provides the players operating in the beacon technology market with ample growth prospects. With government support, the retail outlets are expanding tremendously such as supermarkets, department stores, and hypermarkets, which is expected to fuel the market growth shortly.

High setup costs and security issues are likely to restrain the market growth.

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The Global Beacon Technology Market research report offers a panoramic view of the Beacon Technology market, regulatory framework, and macro and microeconomic factors influencing industry growth. The report strives to offer authentic information about the Beacon Technology market size, share, product portfolio, revenue estimates, and growth rate. The report has been formulated through extensive primary and secondary research along with verified and reliable data obtained from industry experts and professionals.

Key Companies Featured in the Report:

Apple Inc., Sensorberg GmbH, Gimbal, Inc., Google Inc., Texas Instruments Inc., KS Technologies, LLC, Radius Networks Inc., Kontakt.io, Swirl Networks, Inc. and Estimote Inc., among others.

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The report is an investigative study of technological developments and product advancements, along with regional analysis for each product and application offered in the market. The basic objective of the report is to provide an insight into the workings of the Beacon Technology industry. It provides an accurate and strategic view of the market with an in-depth assessment of market segments and sub-segments. It offers a panoramic view of the industry to provide a deeper understanding of the global industry.

Emergen Research has segmented the global Beacon technology market based on deployment, platform, technology end use, and region:

Deployment Outlook (Revenue, USD Billion; 2017-2027)

Cloud

On the site

Platform Outlook (Revenue, USD Billion; 2017-2027)

eddystone

iBeacon

AltBeacon

Technology Outlook (Revenue, USD Billion; 2017-2027)

Wireless

Bluetooth low energy

Ultrasound

Others

End-Use Outlook (Revenue, USD Billion; 2017-2027)

Health care

Immovable

Aviation

Banking

Hotels

Retail

Education

Others

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Unveiling of the main growth factors of the global market:

The study offers an in-depth outlook analysis of the product, which outlines the latest production growth trends and profit valuation. It further fragments the global Beacon technology market into a wide range of products.

The study covers essential data related to the application landscape of these products, the demand and market share held by each type of application, along with the analysis of their growth rate over the estimated period.

A detailed description of the distribution channels including distributors, producers, and buyers is one of the major highlights of the market report.

Key geographies:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Report Highlights

In April 2020, Estimote Inc. applied its technical expertise to create a new device named “Proof of Health”, specially designed to reduce the spread of COVID-19. The company has introduced a unique variety of wearable devices that can improve employee safety for those who need to be co-located in a work environment, while social distancing and physical isolation measures are in place.

Attributed to the increasing implementation of low energy Bluetooth networks in the cloud, the high cost of network systems and the complicated implementation and maintenance of these networks, the cloud segment is expected to dominate the market with a CAGR of 44.5% during the forecast. period.

Leading to the significant benefits of AltBeacon such as various vendor IDs and beacon codes, AltBeacon segment is expected to hold the largest market during the forecast period.

Key questions addressed in the report:

Who are the major players in the Beacon Technology industry?

Which region is expected to dominate the market in the coming years?

What are the main applications of Beacon Technology?

Which segment is expected to gain ground in the coming years?

What are the main strategies adopted by the main players in the market?

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