Mobile Advertising is fastest growing segment fueling the growth of Bluetooth Low Energy (BLE) Beacon Market

 

Bluetooth Low Energy (BLE) Beacon Market

Market Overview:

Bluetooth Low Energy (BLE) beacons are small transmitters that use Bluetooth low energy technology to broadcast Bluetooth signals with small packets of data payload. They are used for various proximity-based applications including mobile payment, indoor navigation, digital signage & engagement among others. BLE beacons provide accurate location detection facility with minimal power consumption.

 

The global Bluetooth Low Energy (BLE) Beacon Market is estimated to be valued at US$ 25.44 billion in 2023 and is expected to exhibit a CAGR of 28% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Mobile advertising is one of the fastest growing applications of BLE beacons. BLE beacons help businesses and retailers deliver location-based content and notifications to customers.

 

Market key trends:

One of the major trends in the BLE beacon market is the increasing adoption of mobile wallets. BLE beacons play a crucial role in enabling contactless payments through mobile wallets. They detect smartphones with digital wallets within close proximity and initiate payment transactions. Another significant trend is multifunctionality. Earlier BLE beacons were developed only for proximity marketing but now they are being used for various indoor positioning applications like navigation, inventory management, and asset tracking. Their compact size and long battery life have made them suitable for diverse applications.

Segment Analysis

The BLE beacon market is segmented into beacon type, end user, and region. Based on beacon type, the iBeacon segment dominated the market in 2023. This is due to the rising trend of utilizing BLE technology in the retail and logistics sectors. The iBeacon refers to a proprietary BLE technology developed by Apple for purpose of indoor localization and location-based solutions.

 

Key Takeaways

The Global BLE Beacon Market Size is expected to witness high growth, exhibiting a CAGR of 28% over the forecast period, due to increasing use of location-based technologies across various sectors.

 

Regional analysis

Regionally, North America accounted for the largest share in the global BLE beacon market in 2023. This is due to rising adoption of BLE beacons across industries such as retail, healthcare, hospitality, and entertainment in countries like US and Canada. Asia Pacific region is expected to grow at the fastest rate over the forecast period owing to growing BLE beacon deployments in major economies like China and India.

 

Key players

Key players operating in the BLE Beacon Market are Bluecats, Estimote, Inc., Qualcomm Inc, Blesh, Radius Networks, Inc., Beaconinside GmbH, Bluvision, Inc., Polestar, Onyx Beacon Ltd, Quuppa Oy, Accent Advanced Systems, SLU, MOKOSmart, Zebra Technologies Corp., Kartographers Technologies Pvt. Ltd., and Kontakt.io.

Read More Insights

https://www.newsstatix.com/bluetooth-low-energy-ble-beacon-market-size-share-growth-outlook-2023/

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