Post COVID-19 Impact on Beacon Technology Market
With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.
Research Dive’ group of skilled analysts provide a solution to help the companies to survive and sustain in this economic crisis. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts.
Our study helps to acquire the following:
- Long-term and short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on Beacon Technology Market, due to the impact on its extended ecosystem
- Understanding the market behaviour Pre- and Post-COVID-19 pandemic
- Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
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Pre COVID-19 Analysis on Beacon Technology Market
According to a study of Research Dive, the global beacon technology market forecast shall cross $45,213.7million by 2026, growing at a CAGR of 75.4%.
The growing adoption of beacons for innovation in the business model is one of the significant factors for the growth of the beacon technology market.Beacon is a versatile product that has a key role in the application of retail, education, healthcare, and others.Moreover, to gain competitive advantages,market players are focusing high on business intelligence. For instance, FUJITSU has invented Bluetooth beacons which make indoor navigation accurate and it also provide an improved user experience.These beacons are cost-effective and provide valuable information such as bottlenecks, the effectiveness of offers and, customer movements.These factors are anticipated to boost the demand for beacons in the global market. In addition, beacons havegreat significance in the retail sector mainly because they provide key benefits of beinghighly effective, easy to deploy and lower incost.
Beacon Technology Market Segmentation by Deployment Model
However, alternatives like HubSpot Marketing, kpeiz, and Onlypult social media platform are available in the global market. These platforms are expected to decline the global beacon technology market growth.On the other hand, solar-powered BLE (Bluetooth Low Energy) beacons are an attractive solution for IoT applications such ashealthcare, advertisement, and transportation. Solar-powered beacons can be used for the reduction of maintenance and increase of the lifespan of networks.Solar-powered BLE beacons give the best performance in terms of accuracy and energy efficiency.These renewable evolutions in beacon technology are anticipated to create vast opportunities for the beacon technology market.
The Wi-fi segment of beacon technology shall bethe fastest growing and it is anticipated to surpass $9,268.8 million by 2026,increasing at CAGR of 76.6%, during the forecast period @ https://www.researchdive.com/purchase-enquiry/170
Porter’s Five Forces Analysis for Beacon Technology Market:
- Bargaining Power of Suppliers:Established ventures are experimenting with product designs by using multiple raw materials. So, if the price of one raw material increases then the company can shift to another material. Moreover, these companies of beacons are focusing mainly to make efficient supply chains with numerous suppliers.The bargaining power of suppliers is low
- Bargaining Power of Buyer:Customers of beacon have low bargaining power, mainly because of the vast customer base, across the globe. The bargaining power of the buyer is low
- Threat of New Entrants:Emergingstartups are focusingmainly on product development and technological evolutions. Also, theseemerging companiesemphasizingon economies of scale for the cost reduction per unit.The threat of new entrants is high
- Threat of Substitutes: Beacon technology offers a value proposition that is highly different from the present service of the market.In addition, the switching cost for the buyer will be high.The threat of substitutes is medium
- Competitive Rivalry in the Market:Beacon industryhasnumeroussmall, medium, large, established ventures. These established ventures are building a sustainable differentiation and also emphasizingmajorly on technological evolution.
The competitive rivalry in the industry isVERY high
The Increasing speed of technologicaladoption is anticipated to drive theglobal beacon technology market @ https://www.researchdive.com/download-sample/170
Beacon Technology Market Segmentation by Platform
The global cloud segment has a rapidly growing market, and it will generate a revenue of $23,330.3 million by 2026, increasing at a CAGR of 76.9%, during the forecast period. Cloud-based beacons can connect and manage to any smart device within a 50-meter range. Also, users can automatically update this beacon anytime and from anywhere, across the globe. Furthermore, cloud beacon has a feature to set and schedule UUID (universally unique identifier), to provide infrastructure security.
Beacon Technology Market Segmentation by Application
- Tourism & Hospitality
- Financial Institution
The global AltBeacon platform has the fastest growing market, and it shall surpass $14332.7 million by 2026, growing at a CAGR of 77.1%, over the forecast period. This is mainly because AltBeacon has an open and interoperable specification for proximity beacons. For instance, Radius Networks, Inc. is offering AltBeacon which has more significance over multiple platforms from Android, iOS, Windows, and many others.
The education sector has a lucrative market, and it will cross $6,917.7 million by 2026, increasing at a CAGR of 76.6%, during the projected period. This is mainly because beacon technology in education is significantly used to enhance the in-class experience. An instructor can use beacon technology to take attendance. In addition, by using beacon technology, the lecturers can create (learning zones) a more interactive workshop or learning environment. Furthermore, it also provides key benefits such as seamless communication between professor and student, the facility of a push notification, and an interactive learning environment.Recently, Oklahoma University implemented BLE beacon technology in their campus and have around 50 battery-powered beacons which are expected to expand consistently.
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- Apple Inc. (NASDAQ: AAPL)
- SAMSUNG (KRX: 005930)
- Qualcomm Technologies, Inc. (NASDAQ: QCOM)
- Hewlett Packard Enterprise (NYSE: HPE)
- Estimote, Inc
- by Kontakt.io,
- Glimworm Beacons
- PaeDae, Inc. dba Gimbal
- HID Global Corporation/ASSA ABLOY AB.
- Development LP.
The Wi-fi segment has the fastest-growing market, and it will register a revenue of $9,268.8 million by 2026, rising at a CAGR of 76.6%, throughout the forecast period. Wi-Fiandbeacon are working togetherto drive the mass adoption of IoT enterprise solutions, across the globe. Wi-Fi beacon is extremely useful in vast spaces such as hospitals, stadiums, airports, and others. Also, this Wi-Fi beacon helps in the reduction of infrastructure costs.
Beacon Technology Market Segmentation by Technology
- Combined Technologies
The beacon technology of the Asia-Pacific region has the fastest-growing market globally, and it shall generate a revenue of $11,258.2 million during the forecast period, growing at a CAGR of 76.7%. Growing demand of beacons for educational institutions rising popularity of tablets and smartphone devices and high demand in the logistics and transportation operations are anticipated to foster the growth of the Asian beacon technology market, particularly in India, South-Korea, and China. Moreover, growing focus on business intelligence to gain a competitive advantage preferably in countries such as China, India, and Japan are boosting the growth of the beacon technology market. Moreover, the existence of global players such as FUJITSUin this region is also expected to augment the growth of the Asian market.
The beacon technology of the European region is the dominating market, and it will surpass $13,473.7 million over the forecast period. This is mainly because of the extensive deployment of beacon technology in the application fields like transportation, healthcare, and tourism. Also, the availability of internet infrastructure in economies like Germany, the UK, and Italy are expected to upsurge the beacon technology market in Europe.
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