Smart Beacon Market

Smart Beacon Market

Smart Beacon Market Forecasts to 2028 - Global Analysis By Beacon Standard (iBeacon, Eddystone and Other Standards), Connectivity Type (Bluetooth Low Energy (BLE), Wi-Fi and Hybrid), Component (Hardware, Software and Service), Application (Analytics, Engagement, Position & Navigation, Tracking & Tracing and Other Applications), End User (Automotive, Aviation, Banking, Financial Services and Insurance (BFSI) and Other End Users) and By Geography

4.9 (24 reviews)
4.9 (24 reviews)
Published: 2023 ID: SMRC22659

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $11.88 BN

Projected Year Value (2028)

US $159.81 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Smart Beacon Market is accounted for $11.88 billion in 2022 and is expected to reach $159.81 billion by 2028 growing at a CAGR of 54.2% during the forecast period. A smart beacon is a tiny device that uses Bluetooth low energy proximity sensing technology to send signals to other nearby smart devices using compatible software or an operating system. When a smart device, such as a smartphone or tablet, comes within range of a beacon, it automatically recognizes the device's physical location, starts tracking the customer, and sends an allocation-based notification to the device.

According to, there are over 8.2 billion Bluetooth-equipped devices in the world. Bluetooths’ high efficiency, incredible penetration rate and increased capabilities help connect millions of things in smart cities.

Market Dynamics:


Early adoption of technology

The concept of smart cities, smart buildings, and the growing need for technological innovation in marketing platforms all present opportunities for the growth of the smart beacon market. Additionally, the market is expanding as a result of the growing demands for digitalization and the adoption of smart devices for tasks like tracking and identification. Beacons are increasingly being used in the transportation and logistics sector in place of GSM trackers and other devices for tracking and identification. When compared to smart beacons, which are also providing an interactive platform for developing the beacons market, GSM trackers are expensive to operate and have a short lifespan. These elements are fueling market expansion.


Maintenance issues and mandatory application download

The short-term expansion of the smart beacon market may be constrained by issues with range, the requirement to download an application, and other maintenance-related concerns. Customers can only use proximity marketing with beacons after installing a specific mobile application. Additionally, users can only get beacon notifications if they have Bluetooth and Wi-Fi turned on, as well as the required app downloaded to their smartphones. Also, because of the limited range of beacons, it is difficult to determine where they should be placed to ensure complete coverage of a particular area. Due to all of these factors, there is a low level of demand for smart beacons, which affects their deployment.


Increasing demand from the automobile industry

Increasing demand from the automotive industry and growing globalization are some of the main factors propelling market expansion. Increased use of spatial data in analytics, a rise in the demand for smart beacons for indoor navigation, and extensive industrialization may exacerbate market value. The market will expand further as a result of rising investment in R&D resources and the expansion of numerous end-user verticals, particularly in developing countries.


Lack of technological resources

A significant barrier to the expansion of the global market is the lack of technological resources for the deployment of smart beacons across numerous countries. Additionally, it is anticipated that the target market's expansion during the analysis period may be hampered by a lack of awareness of smart beacon technology among people worldwide.

Covid-19 Impact

Due to the disruption of production cycles and supply chains across industries, the COVID-19 outbreak has had both positive and negative effects on significant businesses worldwide. The retail sector has encountered enormous difficulties in putting an end to the pandemic. Due to postponed development projects, the growth rate of the smart beacon market's revenue saw a significant decline. The pandemic has, however, increased demand from the healthcare sector. Additionally, numerous market participants have been funding the research and development of smart beacon technology globally.

The tracking & tracing segment is expected to be the largest during the forecast period

Over the forecast period, it is expected that the tracking & tracing segment will dominate the global market. Smart beacons can be used as active tags in a variety of industries that transmit positioning information periodically. It makes it easier for drivers of forklift trucks to locate and accurately identify the goods they are looking for. As a result, the segment's growth will be supported over the forecast period by the increasing adoption of beacons for tracking and tracing in logistics and transportation.

The retail segment is expected to have the highest CAGR during the forecast period

The retail segment is anticipated to grow at the highest rate during the anticipated period. The way retailers conduct business has changed as a result of the use of smart beacons to monitor a customer's movements inside a store. Large retailers like Timberland, Urban Outfitters, Lord & Taylor, and others are using beacon technology to improve the shopping experience for customers. Additionally, businesses can track and draw customers to in-store events, deals, and coupons with the beacon technology. Retailers can now match customer needs and create an online-to-in-store experience using beacon technology. Such instances are booming the segment growth.

Region with largest share:

The North America region is expected to hold the largest share during the forecast period, owing to rising demand for smart beacon technology across a wide range of end-use industries such as retail, public transportation, logistics, and hospitality. Furthermore, by creating cutting-edge beacon technologies, key players like Aruba Networks, Estiomote, Inc., and others are promoting the growth of the smart beacon market in the North American region.

Region with highest CAGR:

The Asia Pacific region is anticipated to experience lucrative growth over the course of the forecast period as a result of rising demand for smart beacons across a range of end-use sectors, including healthcare, retail, education, and the automotive industry, among others, in numerous Asian countries. The market in this area is still expanding and has enormous potential in nations like Australia and India. A number of retail chains in malls have successfully implemented technologies like beacons, and mall developers in India have found suitable technological solutions. Because of these benefits, it is anticipated that the market will expand throughout the region.

Key players in the market

Some of the key players profiled in the Smart Beacon Market include Accent Advanced Systems, Aruba Networks, BlueCats, Blueup, Bluvision-HID Global Company, Cisco Systems Inc., estimate Inc., Gimbal Inc., Glimworm, HID Global Corporation, Inc., Leantegra Inc., Sensorberg, Sensoro, Swirl Networks and Vision IOT.

Key Developments:

In January 2023, Berkeley Lights, Inc., a life science tools company, announced the launch of Beacon Select, the company's new optofluidic system for cell line development. Beacon Select is based on the same cutting edge technology offered by the original Beacon System launched in 2017 which currently has over 130 systems installed globally.

In December 2021, CAR-LITE and Sigfox launched an intelligent light beacon based on the oG network to replace emergency triangles on the road. The new light beacon, designed and developed by CAR-LITE, will send automatic alerts to the relevant road safety authorities and accurately geo-locate the location of failed vehicles, based on the Sigfox oG network, without the need for an internet connection, Wi-Fi or SIM card.

In January 2020, Australia launched the new Waze-designed technology in its M4 tunnel. 500 beacons were installed that can provide phone navigations through BLE signals in places that are not accessible through GPS. Later in February 2020, Sydney joined Brisbane to introduce the new Waze technology in all its underground tunnels connecting Sydney and Brisbane.

Beacon Standards Covered:
• iBeacon
• Eddystone
• Other Standards

Connectivity Types Covered:
• Bluetooth Low Energy (BLE)
• Wi-Fi
• Hybrid

Components Covered:
• Hardware
• Software
• Service

Applications Covered:
• Analytics
• Engagement
• Position & Navigation
• Tracking & Tracing
• Other Applications

End Users Covered:
• Automotive
• Aviation
• Banking, Financial Services and Insurance (BFSI)
• Education
• Healthcare
• Public Gatherings and Spaces
• Retail
• Sports
• Transportation & Logistics
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Smart Beacon Market, By Beacon Standard
5.1 Introduction
5.2 iBeacon
5.3 Eddystone
5.4 Other Standards

6 Global Smart Beacon Market, By Connectivity Type
6.1 Introduction
6.2 Bluetooth Low Energy (BLE)
6.3 Wi-Fi
6.4 Hybrid

7 Global Smart Beacon Market, By Component
7.1 Introduction
7.2 Hardware
7.2.1 Standard Beacon
7.2.2 Sticker Beacon
7.2.3 Card Beacon
7.3 Software
7.4 Service

8 Global Smart Beacon Market, By Application
8.1 Introduction
8.2 Analytics
8.3 Engagement
8.4 Position & Navigation
8.5 Tracking & Tracing
8.6 Other Applications

9 Global Smart Beacon Market, By End User
9.1 Introduction
9.2 Automotive
9.3 Aviation
9.4 Banking, Financial Services and Insurance (BFSI)
9.5 Education
9.6 Healthcare
9.7 Public Gatherings and Spaces
9.8 Retail
9.9 Sports
9.10 Transportation & Logistics
9.11 Other End Users

10 Global Smart Beacon Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Accent Advanced Systems
12.2 Aruba Networks
12.3 BlueCats
12.4 Blueup
12.5 Bluvision-HID Global Company
12.6 Cisco Systems Inc.
12.7 estimate Inc.
12.8 Gimbal Inc.
12.9 Glimworm
12.10 HID Global Corporation
12.11 Inc.
12.12 Leantegra Inc.
12.13 Sensorberg
12.14 Sensoro
12.15 Swirl Networks
12.16 Vision IOT

List of Tables
1 Global Smart Beacon Market Outlook, By Region (2020-2028) ($MN)
2 Global Smart Beacon Market Outlook, By Beacon Standard (2020-2028) ($MN)
3 Global Smart Beacon Market Outlook, By iBeacon (2020-2028) ($MN)
4 Global Smart Beacon Market Outlook, By Eddystone (2020-2028) ($MN)
5 Global Smart Beacon Market Outlook, By Other Standards (2020-2028) ($MN)
6 Global Smart Beacon Market Outlook, By Type (2020-2028) ($MN)
7 Global Smart Beacon Market Outlook, By Bluetooth Low Energy (BLE) (2020-2028) ($MN)
8 Global Smart Beacon Market Outlook, By Wi-Fi (2020-2028) ($MN)
9 Global Smart Beacon Market Outlook, By Hybrid (2020-2028) ($MN)
10 Global Smart Beacon Market Outlook, By Component (2020-2028) ($MN)
11 Global Smart Beacon Market Outlook, By Hardware (2020-2028) ($MN)
12 Global Smart Beacon Market Outlook, By Standard Beacon (2020-2028) ($MN)
13 Global Smart Beacon Market Outlook, By Sticker Beacon (2020-2028) ($MN)
14 Global Smart Beacon Market Outlook, By Card Beacon (2020-2028) ($MN)
15 Global Smart Beacon Market Outlook, By Software (2020-2028) ($MN)
16 Global Smart Beacon Market Outlook, By Service (2020-2028) ($MN)
17 Global Smart Beacon Market Outlook, By Application (2020-2028) ($MN)
18 Global Smart Beacon Market Outlook, By Analytics (2020-2028) ($MN)
19 Global Smart Beacon Market Outlook, By Engagement (2020-2028) ($MN)
20 Global Smart Beacon Market Outlook, By Position & Navigation (2020-2028) ($MN)
21 Global Smart Beacon Market Outlook, By Tracking & Tracing (2020-2028) ($MN)
22 Global Smart Beacon Market Outlook, By Other Applications (2020-2028) ($MN)
23 Global Smart Beacon Market Outlook, By End User (2020-2028) ($MN)
24 Global Smart Beacon Market Outlook, By Automotive (2020-2028) ($MN)
25 Global Smart Beacon Market Outlook, By Aviation (2020-2028) ($MN)
26 Global Smart Beacon Market Outlook, By Banking, Financial Services and Insurance (BFSI) (2020-2028) ($MN)
27 Global Smart Beacon Market Outlook, By Education (2020-2028) ($MN)
28 Global Smart Beacon Market Outlook, By Healthcare (2020-2028) ($MN)
29 Global Smart Beacon Market Outlook, By Public Gatherings and Spaces (2020-2028) ($MN)
30 Global Smart Beacon Market Outlook, By Retail (2020-2028) ($MN)
31 Global Smart Beacon Market Outlook, By Sports (2020-2028) ($MN)
32 Global Smart Beacon Market Outlook, By Transportation & Logistics (2020-2028) ($MN)
33 Global Smart Beacon Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.


Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.