STRATEGIC PARTNERS
July 20, 2017
The Bluetooth beacon market is expected to be worth $58.7 billion by 2025 and grow at a compound annual growth rate of 95.3 percent. Software-based and virtual beacons are also expected to boost overall demand, according to a study by Grand View Research Inc.
The biggest market driver is the increased number of applications powered by beacons and Bluetooth Low Energy tags. Also, many companies are integrating beacons into digital signage, LED lightings, point of sale devices and vending kiosks, according to the study.
Beacons are expected to grow significantly in retail and industrial areas. The lower price of Bluetooth solutions is also playing a key role in larger adoption rates into elderly care, worker security and affordable asset tracking.
