Bluetooth low energy (BLE) beacons are small transmitters that utilize BLE wireless technology to broadcast their identifier to nearby smartphones and other devices. BLE beacons are used by retailers, brands and marketers for various applications like location-based services, indoor navigation, proximity marketing and more. BLE beacon offer advantages like long battery life, lower cost, and ability to transmit smaller packets of data over short distances. With the increasing adoption of smartphones and growing utilization of location-based services, demand for BLE beacons has increased significantly in recent years.
The Global Bluetooth Low Energy (BLE) Beacon Market is estimated to be valued at US$ 5864.43 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031
Key Takeaways
Key players operating in the Bluetooth Low Energy (BLE) Beacon are Dow Inc., Covestro AG, Eastman Chemical Company, SABIC, Arkema S.A., Mitsubishi Chemical Corporation, Evonik Industries AG, Sumitomo Chemical Co., Ltd., Teijin Limited, LG Chem Ltd.
Key opportunities in the market include increasing installations of BLE beacons across various industries like retail, healthcare, transportation etc. and growing adoption of Indoor positioning technology.
Globally, North America dominates the Bluetooth Low Energy (BLE) Beacon Market Growth beacon market currently. However, Asia Pacific region is expected to exhibit highest owing to increasing urbanization and growing retail and transportation sector in countries like China and India. Many BLE beacon manufacturers are focusing on expanding their presence in emerging economies through partnerships and investments.
Market drivers: Rising popularity of location-based marketing campaigns and growing adoption of mobile wallets and payments is expected to drive the adoption of BLE beacons across various industries.
Market restraints: Issues related to interoperability of devices from different manufacturers and concerns around data privacy can hamper the growth of BLE beacon market to some extent over the forecast period.
Segment Analysis
The Bluetooth Low Energy (BLE) Beacon Market Size and Trends can be segmented on the basis of component, technology, application and end-use industry. Based on component, the Hardware segment dominates the market as the beacons require microcontrollers, sensors and other electronic components to function. The Hardware segment accounted for over 60% market share in 2024 owing to rising adoption of BLE beacons across various industries.
Global Analysis
Regionally, North America accounted for the largest share in the global BLE beacon market in 2024 due to high adoption of location-based marketing activities across industry verticals such as retail, healthcare and others in the US and Canada. The region is projected to witness highest CAGR during the forecast period on account of growing retail industry and increasing usage of BLE beacons for indoor positioning and tracking applications.
Asia Pacific is anticipated to grow at a considerable rate between 2024-2031 owing to high penetration of smartphones, expanding retail sector and improving digital infrastructure in emerging economies like China and India. Rising awareness about BLE beacons capabilities and ongoing technological advancements are expected to boost the demand in Asia Pacific BLE beacon industry.
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