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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, June 15, 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 high configuration costs and security problems are likely to hamper the growth of the market.

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Prominent Players Analyzed 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.

Some 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.

Due to the rising popularity of Wi-Fi due to its advantages such as interconnectivity, improved customer privacy, and enhanced proximity detection, the Wi-Fi segment accounts for the largest market in the beacon technology market over the forecasted period.

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Due to its several advantages, such as improving customer experience by providing interactive guides, sharing multi-language information and tips, and special offers, the retail segment is expected to dominate the market throughout the forecast period.

Due to the presence of supermarket giants such as Walmart, Kroger, and Tesco in this region, the North America region held the largest market throughout the forecast timeframe. Due to increasing government support to strengthen the retail business, the Asia Pacific region is anticipated to grow substantially.

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

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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

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

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

BENELUX

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

Rest of APAC

Latin America

Brazil

Rest of LATAM

MEA

Saudi Arabia

UAE

Rest of MEA

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Overview of the Beacon Technology Market Report:

Introduction, Product Scope, Market Overview, and Opportunities

Analysis of the Manufacturers with sales, revenue, and price analysis

Comprehensive analysis of the competitive landscape

Extensive profiling of the key competitors along with their business strategies and market size

Regional analysis of the market along with sales, revenue, market share, and global position

Country-wise analysis of the market along with types, applications, and manufacturing

Strategic recommendations to established players as well as new entrants

In-depth analysis of the risks, restraints, and limitations in the Beacon Technology industry

Thank you for reading our report. Please connect with us to know more about the report or the customization of the report. Our team will ensure the report is best suited to meet your requirements.

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About Emergen Research

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Emergen Research
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