Beacon Technology Market: Scaling Up Businesses with Stunning Smart Features

The beacon technology has a wide scope in the proximity marketing and location-based technology. Beacons, as data collecting tools, help Google to understand businesses that use the services it offers and enable the users to improve their algorithm. 

Some factors behind the growth of the market

Increasing adoption and popularity of advanced communication technologies in the fields such as education, retail, healthcare, and, hospitality is the factors attributing to the growth of the market in upcoming years. 

Beacons are also playing a significant role in the reshaping of election campaigning, which is also anticipated to boost the growth of the global beacon technology market. This technology has been proved to be the perfect platform for attracting supporters and providing relevant and useful information during the time of election. 

Moreover, the rising instillation of the Internet of Things (IoT) across the world is also projected to be one of the major attributes boosting the beacon technology market. Furthermore, beacon technology has high significance in the retail and marketing sector mainly because they are cost-effective, straightforwardly effective, and easy to deploy.

Progression of Beacon technology throughout years – A Timeline (Source)

• 1.Apple introduced iBeacon as part of iOS 7 at World Wide Developer Conference held in 2013. 

• 2.500 beacons were installed by Titan in Manhattan phone booths between in the span from September to November 2013.

• 3.Apple installed beacons in December 2013, in all 254 of their US shops, offering clients with in-store notifications about the product.

• 4.In August 2014, 3 UK stores trialed beacon technology in their mannequins with the aim of providing prices and links for online buying online when the customers entered the beacon’s 50-meter range. Suggestively, customers needed to have an app downloaded to receive the beacon’s information. 

• 5.Macy’s installed over 4,000 devices across their shops on 29th September 2014.

• 6.On 21st November 2014, Aruba Networks implemented “blue dot” indoor navigation via beacons. This offered aninexpensive alternative to Wi-Fi for indoor navigation.

• 7.Some of the largest and most downloaded apps, including Facebook and Shazam, began integrating beacons into their functionality around May 2015.

• 8.In July 2015, Google launched Eddystone, a platform-agnostic competitor to Apple’s iBeacon.

• 9.In the late 2017 Google pilots began Project Beacon which is still ongoing.

As mentioned by a recent report  by Reserch Dive, the most significant players of the beacon technology market are Apple Inc.,SAMSUNG, Gimbal, PaeDae, Inc., Glimworm Beacons,Estimote, Inc, RECO, Kontakt.io, Hewlett Packard Enterprise Development LP, HID Global Corporation/ASSA ABLOY AB., Qualcomm Technologies Inc., and many more. 

These market players are adopting several strategies including new product launches,merger and acquisition, new technology, and technology upgradation to gain the highest Beacon technology market size. For instance, Gimbal, the beacon hardware and software company of Qualcomm Retail Solutions was acquired by The Mobile Majority in November 2016.