The Asia-Pacific beacon technology market is estimated to grow at an impressive rate during the forecast period. Beacon is a small device, which when connected to smart devices such as smartphones through Bluetooth and Wi-Fi, enables a notify accurate location within a narrow range than GPS and Wi-Fi proximity. Increasing investment in proximity marketing, upsurge in organized retailing, and growing concerns regarding privacy and security is influencing the growth of the beacon market across the economies of the region. Technological advancement in smartphones and rising smartphone users have further augmented the connectivity of objects through IoT in various places such as shopping malls, airports and other public places.
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Moreover, the growing demand for indoor positioning and indoor navigation (IPIN) system coupled with cohesive government initiatives for smart city projects within the emerging economies will drive the demand for beacon technology in near future; thereby, will augment the market growth. According to United Parcel Service (UPS) and the United States’ Consumer Technology Association, in March 2018, the smart cities possess the potential to become a major global development sector in Asia Pacific. The region has been backed by the advanced technologies, rapid urbanization and government support, which are essentially required in the development of smart cities within the region.
The Asia-Pacific beacon technology market is segmented on the basis of beacon protocol, location technology, and application. On the basis of the beacon protocol, the market is segmented into iBeacon, Eddystone, AltBeacon, and others. Based on the location technology, the market is classified into BLE, Wi-Fi, Ultrasound, and Others. On the basis of application, the market is classified into retail, healthcare, BFSI, logistics and warehouses, and others. Retail sector is estimated to dominate the market over the forecast period. As online shopping is dominating retail shopping, indoor location-based analytics is one fine way used by the brick-and-mortar retailers to encourage the foot traffic. The retailers are realizing the benefits of location-based analytics services and increasingly deploying it at their stores. Thereby, augmenting the segmental business growth.
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Asia-Pacific Beacon Technology Market Segmentation
By Beacon Protocol
- iBeacon
- Eddystone
- AltBeacon
- Others (GeoBeacon)
By Location Technology
- Bluetooth Low Energy (BLE)
- Wi-Fi
- Ultrasound
- Others (Combined Technology)
By Application
- Retail
- Healthcare
- BFSI
- Logistics and Warehouses
- Others (Travel, Tourism & Hospitality)
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