- The key vendors in the global iBeacon market 2015-2019 are Apple Inc., Estimote Inc., Gimbal Inc., and Kontakt.io
London, 4 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global iBeacon market 2015-2019. The process of gaining customer insights through analytics is a significant trend observed in this market. The integration of offline analytics and online analytics is useful in analyzing conversion rates, which aids in maximizing e-commerce and in-store sales. The beacon technology is useful for collecting data from sectors like retail, healthcare, and transit systems. This collected data provides insights into the consumer’s behavior, which is expected to boost sales. The global iBeacon market is expected to grow at a CAGR of 200.3% during the forecast period of 2014-2019.
The increasing adoption of smart devices is a major factor that is expected to augment growth in this market. As more people acquire smart devices for everyday use, the market for mobile applications is also expected to grow in tandem. Also, factors such as rising urban populations, higher disposable incomes, and greater awareness of the capabilities of electronic devices and apps are cumulatively fostering growth in the iBeacon market.
“Multi-channel integration is also called “online and offline integration,” where retailers gather information from consumers’ visits to different stores using in-store iBeacon technology. Retailers also gather information about consumers’ online habits and other e-commerce sites visits for particular items. These profiles are integrated to produce a comprehensive view of consumers’ habits, lifestyles, and spending patterns,” says Faisal Ghaus, Vice President of Technavio Research.
“The channel confluence amplifies the message conveyed through the ads and helps escalate conversion ratios. Marketing experts strongly believe that single-strategy multichannel engagement leads to long-term business success.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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