According to the Graphical Research new growth forecast report titled “Asia Pacific Beacon Technology Market Size By Platform (iBeacon, Eddystone, AltBeacon), By Deployment Model (On-premise, Cloud), By Application (Retail, Travel, Tourism & Hospitality, Healthcare, Financial Institutions, Real-estate, Education), By Technology (BLE, Wi-Fi, Ultrasound, Combined Technologies), 2018 – 2024”, estimated to exceed USD 9 billion by 2024.
The Asia Pacific beacon technology market growth is attributed to the growing penetration of smartphones in the region, especially in China and India. In 2016, the mobile user penetration (unique individuals using mobile phones compared to national population) in China was estimated at 78% while the national mobile broadband penetration stood at 73%. Also, increasing popularity of cloud platforms among the SMEs in the region is expected to contribute to the growth of the Asia Pacific beacon technology market over the forecast period.
The iBeacon platform is projected to dominate the Asia Pacific beacon technology market throughout the forecast period while securing a market share of over 55% by 2024. The iBeacon can give (turn-by-turn) map guidance to the users to reach a specific product in large stores without anyone’s guidance. Such utility is likely to fuel the increasing demand for the technology among the consumers as well as the retailers.
The healthcare sector is projected to register an accelerated growth during the forecast timeline at a CAGR of over 115%. Beacons make tracking beds, wheelchairs, and other expensive equipment easy and affordable in large healthcare institutions. Also, the technology is being increasingly leveraged to facilitate better indoor navigation for patients and visitors in healthcare facilities.
Some of the key vendors in the Asia Pacific beacon technology market include BlueCats, Texas Instruments, Gimbal, Beaconinside, Kontakt.io, Madison Beacons, blueSense Networks, Swirl, Glimworm Beacons, Radius Networks, RECO, Estimote, Sensorberg, Onyx Beacon, Google, and Apple.
Segments we Cover:
Asia Pacific Beacon Technology Market Statistics, By Platform
- iBeacon
- Eddystone
- AltBeacon
Asia Pacific Beacon Technology Market Trends, By Deployment Model
- On-premise
- Cloud
Asia Pacific Beacon Technology Market Growth, By End Use
- Retail
- Travel, Tourism, and Hospitality
- Healthcare
- Financial Institutions
- Real-estate
- Education
Asia Pacific Beacon Technology Market Analysis, By Technology
- BLE
- Wi-Fi
- Ultrasound
- Combined Technologies
