Smart Beacon Market - Size, Share, Trends, and Forecast to 2026
Smart Beacon Market study provides key insights about market drivers,
restraints, opportunities, new product launches or approval, regional
outlook, and competitive strategies adopted by the leading players.
A smart beacon is a proximity device, which transmits a signal with the help of Bluetooth low
energy proximity sensing technology by using compatible application or operating system.
When a smartphone or tablet is in the beacon’s range, it detect the physical location of the
device and tracks customer, then triggers allocation based notification on the device. For
example, smart beacons are used in brick and mortar retail stores for mobile commerce to send
notification regarding special offers to the customers.
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iBeacon and Eddystone are two most significant protocols used in smart beacon. iBeacon is
developed by Apple, Inc. and is iOS compatible. iBeacon functions in iPhones and iPads. For
instance, in 2013 Apple, Inc. activated iBeacon across 254 stores in the U.S. Eddystone was
launched by Google LLC in 2015 and it is now highly adopted in the market. It is specially
developed for Android users.
According to Coherent Market Insights’ analysis, smart beacons generated around US$ 4 Billion
in offline retail sales as of 2016, and is expected to exhibit significant growth by 2025.