Market Research Future (MRFR) anticipates that the BLE beacons market 2020 could potentially touch a valuation of USD 15.49 Billion by 2025-end. Between 2019 and 2025, the worldwide market can progress at a striking rate of 26.8%, adds MRFR. We will provide COVID-19 impact analysis with the report.
Key Boosters and Main Barriers
MRFR offers an exhaustive impact analysis on COVID-19, stating that in a space of only a few months, the semiconductor industry has been severely impacted due to the economic downfall. The long-term impact of COVID-19 has also been assessed and the key takeaway is that the overall semiconductor industry and in turn, the BLE beacons market can remain profitable since several companies are working from home for continued running of their operations during the lockdown period. The expanding population of people working from home has resulted in a spike in the demand for online video downloading as well as viewing and communication via video conferencing, all of which has boosted the use of network traffic and data. Although the short-term impact is deemed to be slightly problematic, the Bluetooth low energy beacons market can emerge sturdier in the upcoming years. In a nutshell, the rampant demand for BLE beacons in line with the mounting use of tablets and laptops can create attractive opportunities for the market.
The market growth is also result of the surge in the applications that are powered by the BLE beacons technology. These beacons are observing rising penetration across equipment status observation and asset tracking in large-scale volume sectors. Simultaneously, the existing market and the new applications are developed, resulting in bigger roll-outs. The increasing integration of BLE beacons in LED lightings, cameras, digital signage, vending machines and point of sale (POS) devices, can also induce industry growth in the preceding years. In addition to retail applications, BLE beacons are emerging as essential commodities in the industrial sector.
Assets that are based on RFID, people flow tracking systems and Wi-Fi currently account for substantial revenue share in the intra-logistics and healthcare industries. However, the affordability of BLE beacons is instrumental in their widespread adoption in multiple domains like worker security, indoor navigation, affordable asset tracking, elderly care, to name a few. BLE beacons are expected to be a bit hit in the healthcare sector in the years to come, following the mounting need to streamline operations to facilitate customized services according to the patients’ history.
The market for BLE Beacons technology has been considered for type and application.
The primary types of BLE beacons include Eddystone, Ibeacon, and others.
The application areas of BLE beacons are education, healthcare, travel & tourism, retail, media & entertainment, manufacturing, and more. The technology enjoys great demand in the healthcare sectors as more and more hospitals are leveraging the BLE beacons to offer customized solutions based on the patients’ health conditions and history.
The regional study of BLE Beacons Market comprises North America, Asia Pacific or APAC, MEA or the Middle East & Africa, South America and Europe.
North America is presently the leading market for BLE beacons, as a consequence of the high adoption rate of the technology in retail and hospitality industries. Trade promotions and offering coupons are the popular norms in the region, for boosting the store sales. To attract more consumers, retailers in the region make use of BLE beacons to offer personalized coupons and offers. To cite a reference, stores like Walmart, Sephora, Urban Outfitters and Lord & Taylor send targeted messages to shoppers on their smartphones to notify them of personalized coupons.
Europe ranks second in the global market, due to the rising number of mobile application vendors that are exploiting the proximity solutions market paired with the burgeoning investments in the BLE beacons technology. The regional industry is also strongly backed by developed countries like the UK, Italy, France and Germany that are increasing their uptake of BLE beacons, especially in healthcare and travel & tourism industries.
The APAC market can procure the highest growth rate during the given timeframe, given the flourishing retail sector and the increasing prevalence of organized retail. The soaring penetration of tablets and smartphones in India and China are also creating more demand for BLE beacons in the APAC market. BLE beacon deployments are also noting upward swing with the rising installations in financial institutions and airports in the region.
Some of the notable competitors in the BLE beacons market are K2B Solutions, Estimote Inc., Gelo, BlueCats, Hewlett Packard Enterprise Development LP, Google LLC, JK Technosoft, Apple Inc., Proximity Solutions, UFO Beacons, Mobstac Inc, and more.
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