This industry research report outlines the market size and forecast of the global Bluetooth beacons market in retail by technology standards (iBeacon, Eddystone, and Microsoft 10), by user (hypermarkets, supermarkets, and others), and by geography (APAC, Europe, North America, and ROW). It also includes an insightful analysis of the leading vendors in this market such as BlueCats, Estimote, Qualcomm, Kontakt.io, and PayPal.
Technavio’s market research analysts estimate the global Bluetooth beacon device market in retail, to grow at a CAGR of around 17% between 2016 and 2020. Growing demand for beacon devices among the organized retailers is one of the drivers of this market. Hypermarkets and supermarkets are the major customers of Bluetooth beacons, owing to the cost-cutting advantages that these devices provide. North America leads the global bluetooth beacon device market in retail, thanks to the largest penetration of organized retails in this region. US is the major market in this region, occupying around 84% of the market share, in terms of the shipments of beacon devices.
The new market research report from Technavio provides a breakdown and analysis of the Bluetooth beacon device segments by technology.
“Multichannel marketing as well as in the product distribution in the retail industry is one of the major trends gaining traction in this market. Following this trend, the Bluetooth beacons manufacturers are developing software apps for beacons as well as manufacturing beacon devices. For instance, Estimote, a top beacon device manufacturer, is developing mobile software app for both the iOS and Android platform,” says Brijesh Kumar Chaubey, Lead Analyst, Consumer & Retail, Technavio Research.
Apple’s iBeacon technology, launched in late 2013 commands over the Bluetooth beacons market in the retail industry with an enormous share of over 77%. However, Technavio’s market reasecrh analysts estimate that the Eddystone technology to grow at a higher CAGR than iBeacon, and it is likely to get close to the market share of iBeacon during the forecast period.
The major players in the global Bluetooth beacon device market in retail are BlueCats, Estimote, Qualcomm, Kontakt.io, and PayPal. This market is still in its nascent stage as the technology as well as the product is relatively new in the market. Most of the retailers are deploying the beacon devices in try and test mode, and the vendors are at present not in for aggressive marketing for their products. Nevertheless, manufacturers have now started to innovate the end products using the same and standardized technology available in the global market.
A more detailed analysis is available in the Technavio report, Global Bluetooth Beacon Device Market in Retail 2016-2020.
We can customize reports by other regions and specific segments upon request.
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