Global Bluetooth Beacon Devices Market to Post a CAGR of Close to 223% During the Period 2016-2020, Reports Technavio
The global Bluetooth beacon devices marketis expected to grow at a massive CAGR of close to 223% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the globalBluetooth beacon devicesmarketfor 2016-2020. To calculate the market size, the report takes into account the shipments of Bluetooth beacon devices worldwide for the following end-user segments:
- Retail (hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash-and-carry stores)
- Non-retail (sports, manufacturing, telecommunications, airlines, IT, logistics, hospitality, health, and wellness)
Growing demand for beacon devices among organized retailers has driven the revenue growth of the global market. The organized retail segment of the retail industry is growing significantly across regions, and this segment contributes significantly to the growth of the Bluetooth beacon devices market.
“The retail sector is the biggest end-user for Bluetooth beacons. Retail stores use the devices for several applications such as in-store analytics, indoor navigation, and contactless payments,” says Sunil Kumar Singh, a lead analyst at Technavio, specializing in research on computing devices
Technavio’s research study segments the global Bluetooth beacon devices market into the following regions:
Americas: largest market for Bluetooth beacon devices
The Americas dominated the global Bluetooth beacon devices market. This region contributed 40.17% of overall shipments of beacon devices globally in 2015. The large penetration of the organized retail sector is largely contributing to the region’s market growth.
The US is the largest market in this region. Of the region’s total shipments in 2015, the country had a share of about 83%. The US is also the largest country globally in terms of shipments, accounting for a share in the range of 30%-35% in 2015. In Latin America, Brazil accounts for almost half of the beacon devices market in the retail industry.
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Bluetooth beacon devices market in EMEA
Europe accounts for the second-largest shipment volume in the global Bluetooth beacon devices market. It had a 37.52% share of global shipments of beacon devices in 2015
Germany, the UK, and France are the top three markets in this region. The growing number of hypermarkets and supermarkets in these countries is driving demand for beacon devices. Germany is the largest market in this region, accounting for a shipment share of about 18% in 2015. Germany is also the third-largest country globally in terms of beacon shipments with a share of 5%-10%. In the Middle East and Africa (MEA), South Africa is the predominant country for Bluetooth beacon devices.
Bluetooth beacon devices market in APAC
In terms of shipments, APAC held a 22.31% share of the global Bluetooth beacon devices market in 2015. In the region, the cost-cutting advantages of Bluetooth beacon devices, along with growth in the organized retail sector, have motivated retailers to deploy the devices in their stores.
Japan is the largest market in this region in terms of shipments, accounting for a share of about 55% in 2015. Japan is also the second-largest country globally in terms of Bluetooth beacon device shipments. In China, India, Singapore, Thailand, South Korea, and Hong Kong, Bluetooth beacon devices have significant growth prospects.
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