The global BLE beacon market revenue was around US$ 2.5 billion in 2021 and is estimated to reach US$ 69.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 36.9% during the forecast period from 2022 to 2030.
BLE stands for Bluetooth low energy. It is a Bluetooth SIG variant that uses less power. It can run for years on tiny coin-cell batteries due to BLE's low energy requirements. Beacons are dependent on it. Additionally, it consumes a lot less energy than the old, inefficient Bluetooth. It is a crucial component of the Internet of Things, allowing technology to function for longer periods with fewer parts.
Factors Influencing Market Growth
Growing investments in proximity marketing and an increase in sophisticated communication technologies fuel the market.
The rise in smart device use is predicted to fuel the expansion of the BLE beacon market.
Due to rising smartphone usage and the expansion of organized retail sectors. Thus, it is anticipated to create lucrative opportunities in the market.
Lack of technological resources and a lack of understanding and concerns about privacy and security. Such factors hamper the market growth.
Study of the COVID-19 Pandemic
The COVID-19 pandemic had a moderate impact on the market. Due to the advent of the health crisis and the lack of a workforce, production and industrial facilities around the world had halted. Businesses and towns are suffering economically as a result of this, which has further affected the local economy.
However, the pandemic significantly influenced the production and manufacturing sectors, which resulted in a mild decline and a corresponding decline in the growth of the BLE Beacon market in 2020.
Asia-Pacific is anticipated to grow more quickly in the coming years. This is attributable to a rise in demand from developing nations with growing economies including South Korea, Japan, China, and India.
The leading competitors in the global BLE beacon market are:
Google LLC (Alphabet)
Hewlett Packard Enterprise
MobileCoderz Technologies Pvt Ltd
The global BLE beacon market segmentation focuses on Industry Vertical, Type, Application, and Region.
Segmentation based on Industry Vertical
Travel and Tourism
Segmentation based on Type
Segmentation based on Application
o BLE Readers
o BLE Tags
Segmentation based on Region
Rest of Western Europe
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America