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Beacon Technology Market Size
- Report ID: GMI2296
- Published Date: Dec 2017
- Report Format: PDF
Beacon Technology Market Size
Beacon Technology Market size estimated at USD 170 million in 2016 and is expected to grow at a CAGR of over 80% from 2017 to 2024.
| Report Attribute | Details |
|---|---|
| Base Year: | 2016 |
| Beacon Technology Market Size in 2016: | 170 Million (USD) |
| Forecast Period: | 2017 to 2024 |
| Forecast Period 2017 to 2024 CAGR: | 80% |
| 2024 Value Projection: | 25 Billion (USD) |
| Historical Data for: | 2013 to 2016 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 348 |
| Segments covered: | Platform, Deployment Model, Application, Technology and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The beacon technology market is expected to witness an accelerated growth over the forecast timeline due to the extensive usage of technology in industry verticals including retail, education, hospitality, and healthcare. For instance, the healthcare sector is witnessing heavy usage of Bluetooth-based technologies to improve the quality of healthcare services provided to patients. Beacons offer vital information to users such as navigating hospitals and finding medications to improve hospital efficiency, which will improve patient satisfaction. The rising penetration of the Internet of Things (IoT) is also supporting the market growth. The technology allows beacons to detect information, enabling them to communicate with other devices and making location-based searching and interaction more accurate.
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Beacon Technology Market Scope
