By 2025 it’s predicted the Bluetooth Beacon market size will be worth $58.7 billion. In the US alone, last year sales triggered by Beacons reached $44 billion. Beacon manufacturers are continually introducing newer beacons that include more features and some of the latest have an amazing range. These factors are expected to boost market demand.
One of the main reasons why the Bluetooth Beacon market is expected to increase so substantially is because of the number of applications that can be powered by them. Increasingly, Beacons are being used for more diverse applications that include asset tracking and for observing machines and equipment. In time, it is expected that Beacons will become a far more common commodity in industrial applications. Already industries and large businesses are beginning to shift towards the use of Bluetooth powered solutions, particularly for indoor navigation and Gatwick Airport is a particularly good example.
Just recently the airport installed 2000 beacons to help people navigate more easily. Gatwick Airport is the U.K.’s second busiest airport and is the eighth busiest airport in Europe. Dubai Airport is about to begin using Beacons to provide a better experience for passengers navigating the airport. Other sectors beginning to utilise the Bluetooth Beacon Market include sports stadiums, elderly care facilities and those businesses interested in affordable asset tracking. An increasing number of museums, zoos, and art galleries are beginning to use Beacon technology to provide visitors with an enhanced experience. A Beacon protocol has been developed by PayPal to avoid the use of swipe cards or cash. It integrates with the PayPal app, allowing hands-free payments.
However, the retail sector remains the largest user of Beacons and was responsible for over 65% of the revenue generated by Beacons last year. This is largely due to tech-savvy retailers recognising the possibility of improving their customers experience by installing install beacons that will send promotional messages, or which provide valuable information, all without being ‘spammy.’ The Bluetooth Beacon market is an effective way for brick and mortar stores to fight back against online shopping, helping to increase profit margins. One example is the Carrefour supermarket chain which has already rolled out beacons in all its hypermarkets in Romania. Tesco, the third largest retailer in the world worked with Unilever to install beacons in its London stores. So, what are the main factors that will increase beacon adoption?
The main factors include increased smartphone sales and the newer handsets make it even easier to detect beacons. Over half of all web traffic is attributed to mobile Internet usage. Another important factor is that everybody likes a bargain and the use of retail mobile applications and discount tracking is becoming increasingly popular.
We are now entering the busiest shopping period of the year so why not use Beacons to provide an enhanced customer experience this year? BCM has a range of highly affordable products which include our highly popular key fobs and our super long-range Beacons (these look particularly fabulous!). Contact us now to discover how we can help you.