Europe Beacon Technology Market to Cross USD 7 Billion By 2024

April 01, 2020


According to the research report titled ‘Europe Beacon Technology Market Size By Platform, Deployment Model, Application, Technology, Regional Outlook, Industry Forecast, 2018 – 2024’, available with Market Study Report LLC, Europe beacon technology market is expected to surpass USD 7 billion by the year 2024.
 

Increasing popularity of beacons in transport networks and tourist destinations in order to support location-based services among tourists is a major factor driving the growth of the Europe beacon technology industry.
 

As per platform type, AltBeacon segment is presumed to expand with a robust CAGR of 85% during 2018-2024. This platform allows application-based UUIDs instead of company-specific units. It is capable of having various beacon codes as well as different manufacturer IDs.
 

In terms of technology, Europe beacon technology market share from BLE segment is expected to grow with a CAGR of 90% between 2018 and 2024. BLE technology enables transmission of small packets of data for as long as 50 meters. It is inexpensive and easy to use as well as supports insightful data collection in a cost-efficient manner.
 

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Considering the geographical landscape, Germany beacon technology industry is slated to witness lucrative growth in the forthcoming years. Shifting focus towards developing a pan-nation beacon infrastructure and rising adoption of beacon technology by various airline giants is fueling the business scenario. For instance, Lufthansa, a German airline, utilizes BLE beacons at Munich Airport in order to provide necessary notifications to its passengers regarding special offers. It allows passengers to buy and book access to airport’s business lounge through the Lufthansa app.
 

The prominent companies operating in beacon technology market in Europe are Estimote, Swirl, Apple, RECO, Kontakt.io, Onyx Beacon, Sensorberg, Madison Beacons, Texas Instruments, Google, Gimbal, blueSense Networks, Radius Networks, Glimworm Beacons, BlueCats and Beaconinside.


Frequently Asked Questions (FAQ) :

Increasing popularity of beacons in transport networks and tourist destinations in order to support location-based services among tourists is a major factor driving the growth of Europe beacon technology industry.
BLE technology enables transmission of small packets of data for 50 meters. It is inexpensive and easy to use as well as supports insightful data collection in a cost-efficient manner, in turn favoring product adoption.
Shifting focus towards developing a pan-nation beacon infrastructure and rising adoption of beacon technology by airline giants is fueling the business scenario in Germany.
The prominent companies of beacon technology market in Europe are Estimote, Swirl, Apple, RECO, Kontakt.io, Onyx Beacon and Sensorberg among others.