Smart Beacon Market: Key Market Developments and Innovations in 2023
This report delves into the segmentation of the smart beacon market, focusing on criteria such as beacon standard, connectivity type, offering, end use, and geographical distribution. The overall valuation of the smart beacon market is anticipated to reach USD 19,805.5 Million by 2023, with a notable compound annual growth rate (CAGR) of 56.2% spanning from 2017 to 2023. This impressive growth trajectory is propelled by the widespread adoption of smartphones and a heightened emphasis on leveraging business intelligence for competitive advantages. Smart beacons, also referred to as Bluetooth Low Energy (BLE) beacons, function as proximity sensors that transmit signals utilizing Bluetooth technology. When Bluetooth-enabled devices, such as smartphones or tablets, come within range of these beacons, they activate corresponding applications on the devices, prompting specific actions associated with the beacon signal. Leading players in this market, including Estimote (US), Aruba (A Hewlet...