BLUETOOTH LOW ENERGY (BLE) BEACON MARKET ANALYSIS

Bluetooth low energy (BLE) is an advanced wireless form of communication, which is especially designed for short range communication. BLE technology transmits data similar to that of the Wi-Fi technology, whereas Bluetooth low energy (BLE) consumes very low power compared to Wi-Fi technology. Bluetooth low energy (BLE) beacon acts as a sender, which sends data to the receiver devices such as smartphones, tablets, laptops, and others. Due its low battery consumption, it is being used in various industries such as retail, travel & tourism, healthcare, financial institutions, and others. Currently available Bluetooth low energy (BLE) beacon can be used for various purposes including proximity marketing, IoT devices, patient tracker in the healthcare sector, and others.

Factors Driving Growth of the Global Bluetooth Low Energy (BLE) Beacon Market:

The increasing adoption of Bluetooth low energy (BLE) beacon devices in proximity marketing is expected to drive growth of the global Bluetooth low energy (BLE) beacon market during the forecast period. Proximity marketing is a type of marketing, which uses technology such as Bluetooth low energy (BLE) beacon devices to target nearby smartphone devices, to showcase relevant advertisements to the user. For instance, if the user searches for a particular product on the internet using smartphone and walks into an offline store, Bluetooth low energy (BLE) beacon device can easily get connected to that person’s smartphone using Bluetooth connectivity and suggest relative information about the searched product on the smartphone. The global proximity market is rapidly growing across the globe. According to Coherent Market Insights’ analysis, the proximity marketing market is expected to reach US$ 54.61 billion by 2023. The demand for Bluetooth low energy (BLE) beacon is expected to increase in this market, owing to the low power consumption benefit provided by Bluetooth low energy (BLE) beacon devices.

The healthcare sector is expected to provide lucrative growth opportunity for the global Bluetooth low energy (BLE) beacon market. This is owing to the increasing adoption Bluetooth low energy (BLE) beacon devices for patient monitoring and inventory monitoring. Bluetooth low energy (BLE) beacon devices can provide cost-effective ways to monitor in-house patients without the need for CCTV camera. However, it is considered as a threat to the patient’s privacy.

Global Bluetooth low energy (BLE) beacon is available for short range communication, due to this factor global Bluetooth low energy (BLE) beacon may hamper during the forecast period.

Global Bluetooth Low Energy (BLE) Beacon Market: Regional Insights

On the basis of region, the global Bluetooth low energy (BLE) beacon market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America region held a major share in the global Bluetooth low energy (BLE) beacon market in 2019, owing to the presence of a large number of key players such as Estimote, Inc., Bluvision, Inc., Gimbal, Zebra Technologies Corporation, and others.

Furthermore, Asia Pacific region is witnessing rapid growth in the global Bluetooth low energy (BLE) beacon market. This is due to the economies such as China and India, which play crucial role in the supply chain of global Bluetooth low energy (BLE) beacon market. Majority of the components for the Bluetooth low energy (BLE) beacon are manufactured in countries such as India and China due to low labor cost. Moreover, governments of these countries launched various schemes to drive growth of their manufacturing sector. For instance, in May 2020, the Government of India launched Atmanirbhar Bharat Abhiyan, through which the Government of India took various initiatives to increase the country’s manufacturing capacity. This scheme mainly focuses on small and medium scale companies to increase their manufacturing capacity.  

Key Players in the Global Bluetooth Low Energy (BLE) Beacon Market:

Key players operating in the market include kontakt.io, Onyx Beacon SRL, Estimote, Inc., Bluvision, Inc., Accent Advanced Systems, SLU, infsoft GmbH, BlueUp Srl., Gimbal, Zebra Technologies Corporation, Silicon Laboratories, and others.

Global Bluetooth Low Energy (BLE) Beacon Market: Taxonomy

On the basis of technology, the global Bluetooth low energy (BLE) beacon market is segmented into:

• iBeacon
• Eddystone
• Others

On the basis of end use, the global Bluetooth low energy (BLE) beacon market is segmented into:

• Retail
• Travel & Tourism
• Healthcare
• Financial Institutions
• Others

On the basis of region, the global Bluetooth low energy (BLE) beacon market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa