Ocean View, DE -- (SBWire) -- 04/20/2020 --Beacon technology market share is slated to amass substantial gains in the coming years as several industries are adopting and availing the advantages associated with Bluetooth Low Energy (BLE) technology in order to meet their organizational objectives. Beacons are micro, wireless transmitters that utilize low-energy Bluetooth mechanisms to send signals to other smart devices located nearby.
Some of the strong contenders present in the beacon technology market are "Apple Inc., Estimote Inc., Google, Kontakt.io, Madison Beacons, Texas Instruments"
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Sensors that are used in retail stores allow the customers to gain adequate information at the right time thereby enhancing the shopping experience and reducing the time. Demand for small sensors is estimated to witness robust growth in the coming years owing to their assistance in streamlining operations and improving the customer base of any business.
The presence of a strong retail industry in countries like China, Japan, India, U.S., and South Korea will support the global beacon technology industry outlook. As per Indian Brand Equity Foundation (IBEF), the total consumption expenditure of India's retail industry will surpass USD 3000 billion in 2020 as compared to USD 1824 billion in the year 2017.
This has driven innovations and demand for different types of BLE sensors, like special beacons and USB in order to monitor the in-store visits, bolstering beacon technology market trends.
Regionally, Asia pacific beacon technology market is anticipated to exhibit a rapid growth rate during the forecasted period. With the rise in affordability level in emerging countries like India, China, Korea, Singapore and Japan pertaining to higher employment level, the consumers are increasingly depending on e-commerce sites for purchasing items owing to their variety and cost-efficiency.
Due to this, brick and mortar retailers are compelled to adopt innovative marketing strategies to influence the consumers to attract them to their stores. In the year 2017, the America multinational e-commerce giant launched Amazon Prime in Singapore in order to support its expansion across the region.
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This has raised the need for ceiling-mounted sensors and cameras in stores to ensure more engaging retail experience. Such platforms provide important solutions in transforming inventory tracking mechanisms, reducing the losses and understanding the behavior of the customers hence providing a robust retail industry presence. Increasing Foreign Direct Investment (FDI) in Asia Pacific supported by the regional governments will encourage developments in the retail sector.
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Beacon Technology Market Revenue Analysis by Key Players Like Apple Inc., Estimote Inc., Google, Kontakt.io, Madison Beacons, Texas Instruments
Asia pacific beacon technology market is anticipated to exhibit a rapid growth rate during the forecasted period