A meteoric 180x increase in revenue to be witnessed by Bluetooth beacon and iBeacons by 2025 end
According to the research study, the global Bluetooth beacon and iBeacon market is anticipated to grow at a noteworthy rate to reach a significant value by the end of the assessment year. The Bluetooth beacon and iBeacon market experienced a sluggish growth initially during 2012-2016 period. However, it gained enormous steam after 2016 and is projected to grow at a gigantic CAGR of 91.4% throughout the period of assessment, 2017-2025. By the end of the assessment year, the global market for Bluetooth beacons and iBeacons is estimated to reach an enormous valuation of more than US$ 37 Bn from a mere US$ 207 Mn in 2017. This enormous growth can be attributed to various key aspects such as implementation of beacons in retail stores to engage customers, consistency in growth of smartphones and related technologies and increasing sue of beacons in industries for enhancement of safety. As per the research report, the players involved in this market can focus on expanding their reach in Asia Pacific and North America region in the coming years.
North America region to be highly lucrative for Bluetooth beacon and iBeacons
North America region is anticipated to be highly lucrative region for the growth of Bluetooth beacons and iBeacons in the coming years. The region reflected high potential in terms of growth and revenue generation in this market since past couple of years. In the coming years, it is likely to dominate the global market over other regions. The Bluetooth beacon and iBeacon market in North America is projected to grow at an exponential CAGR of 90.6% throughout the period of assessment to reach a high valuation of more than US$ 14 Bn by the end of the forecasted year from a value of US$ 82 Mn in 2017.
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United States has highly contributed to the growth of the Bluetooth beacon and iBeacon market in North America region, followed by Canada. By technology, the iBeacon segment dominated the global market by reflecting a higher market share and value. By the end of 2025, this technology segment is projected to show a value higher than US$ 10 Bn. The retail end users segment in the North America Bluetooth beacon and iBeacon market is expected to show high prominence in the coming years. However, the non-retail end user segment in this region is expected to grow at a comparatively higher pace in the near future.
Asia Pacific to soar at super speed in the Bluetooth beacon and iBeacon market
Asia pacific region has shown higher potential in the growth of this technology market. It is the third largest region with respect to revenue size. The Bluetooth beacon and iBeacon market in Asia Pacific region is valued at about US$ 40 Mn in 2017 and is estimated to reach a higher valuation of more than US$ 8 Bn by the end of the assessment period.
China country is the major contributor of growth of the Bluetooth beacon and iBeacon market in Asia Pacific region, followed by Japan. Technology wise, eddystone segment is projected to grow at a higher pace in this region, with a CAGR of 96.9%. The iBeacon technology segment is expected to be the largest segment in terms of market value and is projected to grow at a significant rate in the years to come. The retail and non-retail segments in the end user category both have given significant contribution. The Bluetooth beacon and iBeacon technology has been rapidly adopted in these segments; the retail segment has an upper hand with respect to market value whereas the Bluetooth beacon and iBeacon technology in non-retail sector in Asia Pacific is expected to grow at a higher pace in the future.