The beacon market is expected to grow by USD 13.10 billion during 2021-2025, according to Technavio. The report offers a detailed analysis of the beacon market in optimistic, probable, and pessimistic forecast scenarios.
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With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. As per Technavio's pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
This post-pandemic business planning research will aid clients to:
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Key Considerations for Market Forecast:
-- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
-- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
-- Pre- as well as post-COVID-19 market estimates
-- Quarterly impact analysis and updates on market estimates
Major Three Beacon Market Participants:
Alphabet Inc. offers Bluetooth low energy (BLE) beacons to provide proximity-based experiences for the users.
Apple Inc. offers iBeacon for Apps that gives iOS apps the ability to determine their proximity to iBeacon-enabled hardware with Core Location APIs.
BlueUp Srl offers wearable tags such as BlueBeacon Tag, BlueBeacon Card, BlueBeacon Bangle, Blue beacon SafeX, BlueBeacon Forte+, and others.
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Beacon Market 2021-2025: Segmentation
Beacon market is segmented as below:
o North America
o The Middle East and Africa
o South America
The beacon market is driven by the augmented adoption of beacon technology by diversified end-users. In addition, the increasing adoption of premium smartphones in emerging economies is expected to trigger the beacon market toward witnessing a CAGR of about 56% during the forecast period.
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