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Beacons Technology Market to Reach Full Potential in the Next Two Years

15 Nov 2017
Global Beacons Technology Market

Rapid advancements in wireless communication technologies in the recent years has led to the emergence and growth of Bluetooth beacons, which is a distinctive field of proximity connectivity. Beacons have changed the landscape of proximity marketing for retailers as it has helped in increasing the sales volume and footfalls for their stores. The beacons technology market will take a couple of years to reach its full market potential and commercialization. However, this does not deter the competitiveness in the market owing to the active participation of leading players competing against each other to gain a greater share in the proximity wireless communication industry.

HID Global, a security identity technology company which acquired one of the market players Bluvision in December 2016, launched its Bluetooth Low Energy (BLE)-based solution, in May 2017, to allow businesses to identify the locations of individuals within a room. Bluvision's beacon portal receivers can be installed throughout a location.1 Another market player, BKON Connect, launched an extended browsing platform, in March 2017, which allows any app to browse web content from real-world touch points. The company has issued a software development kit (SDK) for any iOS or Android app that turns it into a kind of browser for real-world content via QR codes, NFC (Near-Field Communication) tags or Physical Web beacons.2

Beacons technology is also being widely integrated into healthcare sector because of the increasing patient volume and the need to monitor this increasing number, for better treatment and care. In August 2017, Aruba, a Hewlett Packard Enterprise company, announced that the Canadian-owned and operated Schlegel Villages has deployed a high-performance Aruba Gigabit wireless network to deliver top-notch care and amenities to its residents and improve efficiencies for its team members. Earlier in March 2017, Aruba had announced that Scarborough and Rouge Hospital, in Toronto, implemented a new Aruba gigabit wireless network to bring better efficiencies to nurses and physicians in order to improve patient outcomes.

Acknowledging the constant development of the beacons technology and the potential future growth of its market, BIS Research has compiled a report titled ‘Global Beacons Technology Market - Analysis and Forecast: 2017 to 2026’. According to the analyst, “the beacons technology market reported a revenue of $519.6 million in 2016, and an increase in the Internet of Things (IoT) spending, a rise in the demand for beacons for providing location-based marketing, and development visions for smart cities across the globe are driving the future growth of the market.”

Reference:

1 RFID Journal

2 Marketing Land

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