The North American beacon technology market is estimated to grow at an impressive rate during the forecast period. The wide adoption of beacon-based technology coupled with the significant presence of market players such as Google LLC and Apple Inc. in the region is augmenting the growth of the North America beacon technology market. 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.
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The North American 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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North American 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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