The Bluetooth Low Energy (BLE) beacon market has witnessed steady growth over the past decade. BLE beacons allow indoor positioning and facilitate location-based services for proximity marketing and navigation purposes. The small and low-powered transmitters send out unique identifiers used by nearby mobile devices to determine their location. Some key advantages include precise indoor positioning with accuracy of 1-3 meters, long battery life of up to 2-5 years from coin cell batteries and support for iBeacon, Eddystone and other platform-specific beacon formats. 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. Growing demand for proximity marketing and location-based services from various industries such as retail, travel and tourism, healthcare and others is driving the growth of BLE beacon market. Major players are expanding their presence globally to strengthen their position in the emerging markets. Market Key Trends The Bluetooth Low Energy (BLE) Beacon Market Growth is one of the key trends boosting the BLE beacon market. Retailers and brands are increasingly adopting proximity marketing and spatial data analytics to provide tailored and personalized experiences to customers. BLE beacons facilitate geo-fencing, push notifications and other location-based services which improve customer engagement and conversions for businesses.
Porter's Analysis Threat of new entrants: Low as the market is highly competitive and already dominated by major players. Also, to develop similar technology requires huge R&D investments. Bargaining power of buyers: Moderate as there are numerous Bluetooth Low Energy (BLE) Beacon Market Size and Trends beacon manufacturers catering to this demand. Buyers can compare features and prices. Bargaining power of suppliers: Moderate, as suppliers of components and raw materials have distinct capabilities. However, easy availability ofsubstitutes limits their influence. Threat of new substitutes: Moderate, as new technologies like Ultra-Wideband (UWB) and Near Field Communication (NFC) can be used for indoor positioning. Competitive rivalry: High due to presence of global technology giants providing innovative BLE beacon solutions. Companies continuously differentiate their offerings. Geographical Regions North America leads the BLE beacon market in terms of value owing to widespread deployments across various industries like retail, healthcare, transportation etc. Asia Pacific is expected to witness the highest growth during the forecast period. Growing digitalization of industries across China, Japan and India will drive the adoption of BLE beacon solutions for indoor navigation and location-based services.
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According to the new market research report by IndustryARC titled “APAC Bluetooth Low Energy Market: By Product Type (Modules, Chipsets); By Mode (Single, Dual); By Application (Automotive Connectivity, Consumer Electronics, Industrial Automation, Others); By Country- (2018-2024)”, the market will be driven by the on-going technological improvements in bluetooth low energy devices.China Will Continue to Lead the Market Share and Growth During 2018-2024.China is the world’s second largest economy and Asia’s biggest market for BLE technology.
The APAC Bluetooth Low Energy chipsets segment is estimated to grow at a CAGR of 25.06%, from $687.57 million in 2017 and reach $3.26 billion by 2024.The total market for Single Mode Bluetooth Low Energy is envisaged to amplify from $277.92 million in 2017 to $3.23 billion by 2024 at a CAGR of 41.87%, while the market for dominant Dual Mode Bluetooth Low Energy will rise at a CAGR of 12.23% from $1.095 billion in 2017 to $2.53 billion by 2024.To access the full Report click on below Link:https://industryarc.com/Report/18395/apac-bluetooth-low-energy-market-research-report-analysis.htmlExcerpts on Market Growth Factors Mentioned in the Bluetooth Report:1.
Increasing number of smartphone production centers in Indonesia is set to drive the BLE market in this country.2.
Others• By Country ( Covers 10+ Countries )• By Market Entropy• Companies Citied / Interviewed1.
Wireless Sensor Network Markethttps://industryarc.com/Report/211/Wireless-Sensor-Network-Market-Research-Report.htmlWhat can you expect from the report?The main agenda to cover the following 20 points:• Market Size by Product Categories• Market trends• Manufacturer Landscape• Distributor Landscape• Pricing Analysis• Top 10 End user Analysis• Product Bench marking• Product Developments• Merges & Acquisition Analysis• Patent Analysis• Demand Analysis ( By Revenue & Volume )• Country level Analysis (10+)• Competitor Analysis• Market Shares Analysis• Value Chain Analysis• Supply Chain Analysis• Strategic Analysis• Current & Future Market Landscape Analysis• Opportunity Analysis• Revenue and Volume AnalysisFrequently Asked Questions:Does IndustryARC provide customized reports and charge additionally for limited customization?Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases.
Increase the level of data in application or end user industry.2.
