Beacon refers to the small hardware device that is used to transfer data via Bluetooth to mobile devices. Beacons have a specific working range. They are usually standalone devices that are attached to objects or walls. Beacons are majorly used for asset tracking, production monitoring, safety & security monitoring, data generation, etc. Beacon management solutions help vendors to manage the number of beacons that are located at numerous physical locations.
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Management and analyzing the data transmitted by beacons deployed in various locations is a tedious task. Beacon management solutions enable users to get the most of the deployed beacons. It helps the user to manage and configure the beacon infrastructure and also change the beacon settings if necessary. The solution also provides information regarding the number of beacons deployed nearby along with their configuration values.
Rising penetration of Internet of Things (IoT) in sectors like manufacturing and automotive is expected to drive the global beacon management solution market. This is due to extensive deployment of beacons in fleet management asset tracking and warehouse management.
The global beacon management solution market can be segmented based on component, industry, end-user, and region. In terms of component, the market can be segmented into software and services. Software segment can be further bifurcated into on premise and cloud. Cloud based solution segment can further be segmented as private, public, and hybrid cloud. Market for on-premise solutions is expected to have larger share; however, cloud based solutions are expected to grow at a higher pace. Services segment can be further segmented into managed or outsourced and professional services.
Professional services can be bifurcated into consulting, implementation & integration, and operations & maintenance. Based on industry the global beacon management solution market can be segmented into retail, manufacturing, automotive, healthcare, banking, aerospace, and others. Based on end-user, the market can be segmented into small & medium enterprises and large enterprises. Large enterprises are estimated to have larger share in the global beacon management solution market.
In terms of region, the market can be classified into North America, Europe, Middle East & Africa, Asia Pacific, and South America. The beacon management solution market in North America is expected to expand at a significant growth rate and hold a prominent share during the forecast period, as compared to the markets in other regions. Market growth in North America and Europe is attributed to the increasing spending by companies on technology for better asset tracking and production monitoring.
Asia Pacific is also expected to offer lucrative growth opportunities to key players operating in the global beacon management solution market in the next few years, due to significantly rising industrialization in the region. South Korea, Australia, India, Malaysia, Japan, Singapore, Thailand, China, and Singapore are major markets in the region. The market in APAC, MEA, and South America are expected to grow at a higher pace due to increasing number of small and medium enterprises.
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Vendors operating in the global beacon management solution market have adopted several growth strategies to broaden their customer base and increase market share. The prominent strategies include strengthening their geographical reach and providing cost effective solutions to customers. Business partnerships and technology innovation are expected to be some of the prominent strategies adopted by players in order to maintain competitive advantage and enhance product portfolios. Companies are focusing on achieving long-term growth through effective integration and continuous improvement and innovation in the beacon management solution market.
Key players operating in the global beacon management solution market include Hewlett Packard Enterprise (Aruba Networks), Beaconinside GmbH, BlueCats, Estimote, Inc., Glimworm Beacons, Kontakt.io, Cisco Systems, Inc., MobStac, Inc., Blue Sense Networks, QuuppaOy, Relution Inc., and Sensoro Co., Ltd.
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