Bluetooth Beacons Market Size, Share & Trends Report

Bluetooth Beacons Market (2018 - 2025) Size, Share & Trends Analysis Report By Technology (iBeacon, Eddystone), By End-use (Retail, Travel & Tourism, Healthcare, Financial Institutions), By Region, And Segment Forecasts

Market segmentation

Bluetooth Beacons Technology Outlook (Revenue, USD Million; 2014 - 2025)
- iBeacon
- Eddystone
- Others
Bluetooth Beacons End-Use Outlook (Revenue, USD Million; 2014 - 2025)
- Retail
- Travel & tourism
- Healthcare
- Financial institutions
- Others
Bluetooth Beacons Regional Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
- North America
  - North America Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - North America Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - U.S. Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - U.S. Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - Canada Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - Canada Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
- Europe
  - Europe Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - Europe Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - Germany Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - Germany Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
    - Smart manufacturing
  - UK Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - UK Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
- Asia Pacific
  - Asia Pacific Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - Asia Pacific Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - China Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - China Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - India Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - India Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
  - Japan Bluetooth Beacons Market by Technology
    - iBeacon
    - Eddystone
    - Others
  - Japan Bluetooth Beacons Market by End Use
    - Retail
    - Travel & tourism
    - Healthcare
    - Financial institutions
    - Others
- Latin America
- MEA
  - MEA Bluetooth Beacons Market by Technology
  - iBeacon
  - Eddystone
  - Others
- MEA Bluetooth Beacons Market by End Use
  - Retail
  - Travel & tourism
  - Healthcare
  - Financial institutions
  - Others

Bluetooth Beacons Market Dynamics

Driver: Growth in mobile payments to boost beacons’ demand

Mobile payments are becoming a norm in the retail sector and are driven by technologies such as Near-Field Communication (NFC) and BLE. These technologies are used to bridge the gap between the customer and their device for faster and seamless payments. Mobile payments in physical locations have gained traction over the past few years. According to the Prepaid International Forum, 12% of the adults in the UK opted for in-store mobile payments regularly and 24% have used their smartphones for payments. The benefits of beacons-based mobile payments have made them essential among merchants to build brand loyalty. Moreover, as deploying these solutions is comparatively less inexpensive, beacons are expected to witness a significant demand from mobile payment solution providers. The growth can also be attributed to the versatility of iBeacons technology so that it can be combined with other business functions including location-based promotions and loyalty programs.

Driver: Increased penetration in the retail sector

Bluetooth beacon devices were initially developed for the retail sector, which garnered exponential growth in the past few years. Brick-and-mortar stores are playing a pivotal role in the growth of the beacons industry. Retailers have already recognized the benefits of this technology, accounting for 71% of the overall revenue share in 2016. Despite the exponential beacon deployment in retail stores such as Walmart, Macy’s, Levis, Lord and Taylor, and Target, there exist several small retailers who are still unaware of the emergence of the beacon technology. Small retailers are expected to provide high-growth opportunities to beacon manufacturers to tap the segment by providing customized beacon solutions. Furthermore, as the industry is shifting from a supply-driven and cash-driven sector to a digitally-focused sector, retailers are exhibiting an inclination toward the adoption of beacons.

Restraint: Security concerns

The rapid adoption of beacons has led to an increasing awareness of inherent vulnerabilities and security concerns in their deployment. These growing issues about privacy and security are posing a threat to the widespread beacons adoption. Moreover, as Bluetooth communications are susceptible to remote monitoring by hackers, end-use industries are raising concerns over the security of their beacons solutions. Several vendors and retailers are committed to using beacons in a way that builds user trust. As beacons generate a Universally Unique Identifier (UUID), any third-party vulnerability may use a sniffing tool to capture beacons-specific UUID numbers, which allows it to impersonate the beacons. To resolve these issues, manufacturers have started implementing encryption and security standards in their products. For instance, Google is trying to ease these concerns by offering a new software platform for securing communications through Bluetooth beacons.

What Does This Report Include?

This section will provide insights into the contents included in this bluetooth beacons market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Bluetooth beacons market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments