Bluetooth Beacon Devices Market to Grow at 222.8% CAGR Driven by Standardized BLE Technology to 2020
RnRMarketResearch.com adds Global Bluetooth beacon devices Market 2016-2020 latest research report, the analysts forecast global Bluetooth beacon devices market to grow at a CAGR of 222.8% by volume during the period 2016-2020.
June 30, 2016 /MarketersMedia/ —
According to the Bluetooth beacon devices market report, a key growth driver is the increasing use of beacon devices in organized retail. Hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash-and-carry stores are the formats that fall under organized retail. This classification is based on the size of the stores. Among these formats, hypermarkets and supermarkets are the most prominent users of Bluetooth beacons. Retailers can also be classified as Tier-1, Tier-2, and Tier-3 retailers, based on the annual revenue generated. Tier-1 retailers are those with annual sales of more than $1 billion. Tier-2 retailers generate annual sales in the range of $500 million to $1 billion while Tier-3 retailers have annual sales below $500 million. Tier-1 and Tier-2 retailers are the leading users of Bluetooth beacons.
Complete report on Bluetooth beacon devices market spread across 61 pages, analyzing 11 major companies and providing 32 data exhibits is now available at http://www.rnrmarketresearch.com/global-bluetooth-beacon-devices-market-2016-2020-market-report.html
The global Bluetooth beacon devices market an analyst says trend which is contributing majorly to market growth is the availability of standardized BLE technology. Beacon devices are developed based on BLE technology. The first version of BLE is 4.0, which was introduced in 2012. Using BLE technology, mobile platform manufacturers are now developing their own beacon software code. The software code is based on Java. The currently available beacon technologies are iBeacon, Eddystone, and Microsoft 10. These software types are available for beacon device manufacturers, which are required to buy licenses from software builders.
Bluetooth beacons are considered to be the next big thing in many industries such as retail, transportation, logistics, and healthcare owing to their effective micro-location, presence detection, and contextual communication attributes. IBeacon is the leading technology standard used in Bluetooth beacon devices. The Americas dominate the global Bluetooth beacon devices market, accounting for 40% of the overall market share. Much of this region’s growth comes from the surging demand for beacons in the organized retail sector. Order a copy of Global Bluetooth Beacon Devices Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=620615
Growing demand for beacon devices among organized retailers has driven the revenue growth of the global market. The organized retail segment of the retail industry is growing significantly across regions, and this segment contributes significantly to the growth of the Bluetooth beacon devices market. The retail sector is the biggest end-user for Bluetooth beacons. Retail stores use the devices for several applications such as in-store analytics, indoor navigation, and contactless payments.
The following companies are the key players in the global Bluetooth beacon devices market: PLUS Location Systems (BlueCats), Blue Sense Networks, Estimote, General Electric, Gelo, Glimworm Beacons, Kontakt.io, Onyx Beacon, PayPal, Sensorberg, and Qualcomm (Gimbal).
To calculate the market size, the Bluetooth beacon devices market report takes into account the shipments of Bluetooth beacon devices worldwide for the following end-user segments:
Retail (hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash-and-carry stores)
Non-retail (sports, manufacturing, telecommunications, airlines, IT, logistics, hospitality, health, and wellness)
Global Bluetooth Beacon Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. Further, the report states that one challenge that could restrict market growth is the growing privacy concerns among consumers.
Another related report is Bluetooth Headsets – Global Market Research 2015-2019, the analysts forecast revenue of the global bluetooth headsets market to grow at a CAGR of 18.65% over the period 2014-2019. In terms of volume, shipments are expected to increase at a CAGR of 9.51%.
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