Beacon Technology Market Top Key Players, Rising Technology Trends & Forecast to 2030

The global beacon technology market is expected to witness notable growth during 2020–2030, on account of the rising adoption of smartphones, increasing penetration of the internet of things (IoT) technology, increase in investments in proximity marketing and surging demand for sensor-based electronics in various industries, including banking, financial services, and insurance (BFSI), healthcare, automotive, and retail.

Geographically, North America leads the beacon technology market. This can be mainly attributed to the early adoption of the technology in numerous industries across the region. Besides, the government in the region is focusing on smart city initiatives, which, in turn, is resulting in the deployment of BLE devices.
Increase in investments in proximity marketing by various industries is the key factor driving the growth of the beacon technology market, globally. Proximity marketing has gained traction among businesses in recent years, as it helps in improving customer relationship, increasing conversion rate, enhancing personalized experience, and providing real-time marketing experience. Globally, more than 75% of customers use smartphones and other smart devices to search products. 
Expansion in organized retail stores is offering ample growth opportunities to the players operating in the beacon technology market. Organized retail stores, such as departmental stores, supermarkets, and hypermarkets, are expanding rapidly, further resulting in the demand for beacon technology. If a customer enters with smartphone in a retail store, beacon device emits radio signals to locate the customer. Through this, retailers analyze their data. Further, based on the activities and movement of customers, retailers send targeted messages such as discounts and offers to their customers to increase the conversion rate.
Some of the key players operating in the global beacon technology market are Apple Inc., BlueCat Networks Inc., Google LLC, Radius Networks Inc., Madison Beacons, Glimworm Beacons, Kontakt.io, and Texas Instruments Inc.
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