March 17, 2020
As per the report titled ‘Asia Pacific Beacon Technology Market Size By Platform, Deployment Model, Application, Technology - Industry Size, Share, Growth Trends & Forecast, 2018 – 2024’, available with Market Study Report LLC, Asia Pacific beacon technology market is projected to surpass USD 9 billion by the year 2024.
Growing penetration of smartphones is contributing to the growth of beacon technology market in Asia Pacific. For instance, in 2016, of the total Chinese population, 78% used mobile phones. Increasing number of mobile devices, extensive use of mobile broadband coupled with the growing inclination towards cloud platforms among small & medium enterprises are augmenting the market outlook.
According to the report, iBeacon platform segment is expected to account for 55% market share by the end of 2024. Turn-by-turn navigation feature offered by iBeacon is driving the product adoption. It helps users to find a specific product in large stores without the need for any human assistance, which in turn is boosting the product demand among retailers as well as consumers.
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Speaking of the application spectrum, APAC beacon technology market from healthcare segment is anticipated to exhibit a strong CAGR over the forecast timeline. Growing accessibility and affordability of tracking beds, wheelchairs, and other medical equipment through the application of beacon technology is driving the segment growth. Furthermore, ability of the technology to facilitate better indoor navigation for patients and visitors is fueling the product adoption across healthcare facilities.
Major players of Asia Pacific beacon technology market are Texas Instruments, BlueCats, Gimbal, Kontakt.io, Beaconinside, Madison Beacons, Swirl, blueSense Networks, Glimworm Beacons, RECO, Radius Networks, Estimote, Onyx Beacon, Sensorberg, Apple, and Google.
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