According to stats, the global Bluetooth beacon market is expected to grow at a remarkable rate to reach a substantial value by the end of the assessment year. The Bluetooth beacon market witnessed a sluggish growth during the forecast period 2012-2016. However, it attracted enormous steam after 2016 and is anticipated to grow at a healthy CAGR of 91.4% throughout the period of assessment that is 2017-2025. By the end of the assessment year, the global market for Bluetooth beacons is predicted to reach an enormous valuation of more than US$ 37 Bn from a value of US$ 207 Mn in 2017. This massive growth can be credited to several key aspects such as consistency in growth of smartphones, implementation of beacons in retail stores to engage customers and related technologies and growing sue of beacons in industries for improvement of security. As per the research, it has been found that the key players involved in this market can emphasize on expansion their reach in North America and Asia Pacific region over the next couple of years.
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A surge in organized retailing such as specialty stores, department stores, hypermarkets, supermarkets, cash and carry stores, and discounters is increasing Bluetooth beacons market growth. This is due to usage of Bluetooth beacons in retail industries for delivering customers with product information, deals, flash sales or to simply hasten the checkout process with help of contactless payment systems. Multichannel marketing and Product distribution have become key trends in the sector of retail and this has driven the Bluetooth beacons market growth, as manufacturers are forced to develop software for beacons. There is high demand of Bluetooth Beacons from airports and ground transit hubs as they facilitate with the delivery of instant notifications related to flight delays, gate and platform, departures information to passengers.
Some of the factors that hamper the market growth include increasing concerns regarding security and privacy and a lack of scalability. Another challenging issue against industry is interoperability issue. However, the rising use of Bluetooth beacons in the healthcare sector is supporting it to emerge as an opportunity in the market. The enhanced range and improved security is also anticipated to create a positive outlook of the global Bluetooth beacons market.
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Asia-Pacific region has exhibited higher potential in the technological growth. In terms of revenue generation, it ranks at third position. The Bluetooth beacon market in Asia-Pacific region has attained a value of US$ 40 Mn in 2017 and is predicted to attain higher valuation that is US$ 8 Bn by the end of the forecast period.
Asia-Pacific, mainland China achieved the tag of highest contributor in the Bluetooth Beacon Market, followed by Japan. In technological front, eddystone segment is expected to grow at higher pace, with a CAGR of 96.9%. In terms of market value, iBeacon technology segment is projected to be the largest segment and is expected to grow at a significant rates in the upcoming years. The non-retail and retail segments in the end-user category have significant contribution. All these segments are rapidly adopting Bluetooth beacon and iBeacon technology. The retail segment is more dominant with respect to market value whereas the Bluetooth beacon and iBeacon technology in non-retail is growing at a higher pace.
Some of the key market players operating the bluetooth beacons market are Estimote, Inc., BlueCats, Kontakt.io, Qualcomm Inc., Beaconinside GmbH, Blesh, Radius Networks, Inc., Bluvision, Inc., Onyx Beacon Ltd., Polestar and Quuppa Oy. The market have cut-throat competitive edge and characterized by both hardware and software providers presence.
By Technology (iBeacon, Eddystone),
By End-use (Retail, Travel & Tourism, Healthcare, Financial Institutions),
Regional Overview, 2018-2028 (USD Billion)
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
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According to IndustryARC’s business analysts, the global Epoxy resin market size had a value of around $2,460 million as of 2018, and they have projected that the market value will be growing at a global CAGR of 3.5% during the forecast period of 2019-2025.
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Adroit Market Research launched a study named, “Global Patient Infotainment Terminals Market Size 2017 By Type (Small Size (≤ 12.5"), Medium Size (12.5" to 19.5"), Large Size (>19.5")); By End-user (Hospitals, Treatment Centers, and Others); By Region and Forecast 2018 to 2025”.
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The old age population brings a lot of opportunities and innovation in the healthcare sector in the coming future in order to save the country from falling GDP.
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