New York, USA, Nov. 03, 2020 (GLOBE NEWSWIRE) -- The global beacon technology market is expected to witness a decline in growth rate due to complete lockdown situation. It has been predicted that the market is predicted to get recover by Q1/Q2 2022. Beacon are inexpensive as compared to other technologies. The increasing use of IoT is predicted to boost the market in the forecast period. Many government organization also uses the technology to run their political campaign is predicted to rise the market in the forecast period. For instance, the Republican Party (U.S) has significantly invested in the beacon technology to massive election campaigns, and high impact. Data breach and privacy concern is predicted to hamper the market growth in the estimated period. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the market.
Our report includes:
- Technological Impact
- Social Impact
- Investment Opportunity Analysis
- Pre- & Post-COVID Market Scenario
- Infrastructure Analysis
- Supply Side & Demand Side Impact
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/308
According to a study conducted by Research Dive, the beacon technology market is expected to register a revenue of $38,803.9 million and grow at a CAGR of 71.7% during 2019-2026. The global market is classified on the basis of deployment model, platform, application, technology and region. The report offers the complete information about drivers, opportunities, restraints, segmental analysis and major players of the global market.
Factors Affecting the Market Growth
As per our analyst, the growing adoption of IoT and demand for the location-based marketing solution is predicted to drive the market in the estimated period. Moreover, the data breach ad privacy concern is predicted to hamper the market growth in the estimated period.
Cloud Based Segment Is Predicted to be the Most Profitable Segment
On the basis of deployment type the beacon technology market is further classified intoCloud and On-Premise. Cloud segment generated a revenue of $242.8 million in 2018 and is predicted to rise at a CAGR of 73.2% in the estimated period. Easy accessibility to the user from anywhere across the globe is predicted to boost the segment in the estimated period
Altbeacon Segment Is Estimated To Have the Highest Market Growth Rate
On the basis of platform, the beacon technology market is further classified into iBeacon, AltBeacon and Eddystone. AltBeacon generated a revenue of $148.4 million in 2018 and is predicted to rise at a CAGR of 73.3% in the estimated period. Lesser fees or no royality to use various application is predicted to boost the segment in the estimated period.
Education segment is estimated to rise steeply in the estimated period
On the basis of application, the beacon technology market is further classified into Travel, Tourism & Hospitality, Real-Estate, Retail, Healthcare, Education and Financial Institution. Education segment generated a revenue of $73.2 million in 2018 and is predicted to rise at a CAGR of 72.8% in the estimated period. Beacon technology provides better student and teacher relationship with powerful communication tools as in class experience and self-book information is predicted to boost the segment in the estimated period.
For More Detail Insights, Download Sample Copy of the Report at: https://www.researchdive.com/download-sample/308
Wi-Fi segment is predicted to have the maximum growth rate in the estimated period
On the basis of technology, the beacon technology market is further classified into Wi-Fi, Combined Technologies, BLE and Ultrasound. Wi-Fi segment generated a revenue of $97.9 million in 2018 and is predicted to rise at a CAGR of 72.9% in the estimated period. Increasing use of Wi-Fi across all the globe and availability of Wi-Fi in various public places for free is predicted to boost the segment in the estimated region.
Regional Breakdown of the Market
On the basis of region, the beacon technology market is further classified into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific region market generated a revenue of $118.6 million in 2018 and is predicted to rise at a CAGR of 72.9% in the estimated period. Increase in the adoption of beacon technology in various end use industry is predicted to boost the region market in the estimated period.
Top Companies Leading the Beacon Technology Market
The major key market players are-
- PaeDae, Inc
- dba Gimbal
- Apple Inc.
- Estimote, Inc
- RECO, by Kontakt.io
- Glimworm Beacons
- HID Global Corporation/ASSA ABLOY AB.
- SAMSUNG
- Qualcomm Technologies, Inc.
- Hewlett Packard Enterprise Development LP.
The market players of beacon technology are aiming at merger, acquisition, and developing advanced products. These strategies are followed by most of the startups and well-established organizations. Quick Download Top Companies Development Strategies Summary Report
Research Dive also offers Custom Research services providing focused, comprehensive and tailored research.
View out Trending Reports with the Impact of COVID-19: https://www.researchdive.com/covid-19-insights