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The increasing IoT penetration and growing government initiatives to improve the retail industry are driving the demand for the market.

VANCOUVER, BC, CANADA, April 25, 2022 /EINPresswire.com/ -- The global Beacon Technology Market is forecasted to be worth USD 35.15 Billion by 2027, according to a current analysis by Emergen Research. The beacon technology market is anticipated to grow substantially owing to the growing Internet of Things technology penetration, increasing investments in proximity marketing, and rising demand for sensor-based devices in different industries. The growth in organized retail stores provides the players functioning in the beacon technology market with sufficient growth prospects. With the support of government organized retail outlets are growing substantially, such as supermarkets, department stores, and hypermarkets, which is expected to fuel the market growth shortly.

The report is a comprehensive research study of the global Beacon Technology market inclusive of the latest trends, growth factors, developments, opportunities, and competitive landscape. The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report is formulated with data gathered from primary and secondary research examined and validated by industry experts. The report provides an overview of the market leaders, segmentation by type, application, and region, and technological advancements.

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The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are 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.

Emergen Research has segmented the global Beacon Technology Market on the basis of deployment, platform, technology end-use, and region:

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

Cloud

On-premises

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

Eddystone

iBeacon

AltBeacon

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

Wi-Fi

Bluetooth Low Energy

Ultrasound

Others

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

Healthcare

Real-estate

Aviation

Banking

Hotels

Retail

Education

Others

Key Highlights from the Report

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

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

Leading to AltBeacon's significant advantages, such as various vendor IDs and beacon codes, the AltBeacon segment is expected to hold the largest market over the forecast timeframe.

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On the basis of regional analysis, the market is segmented into the following regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The market is expected to be dominated by North American nations closely followed by European countries. Asia Pacific is expected to show a significant growth owing to recent advancements and rising investments in the R&D sector.

Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

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At Emergen Research, we believe in advancing with technology. We are growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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