Bluetooth Beacons Market Size, Share & Trends Analysis Report By Technology (iBeacon, Eddystone), By End-use (Retail, Travel & Tourism, Healthcare, Financial Institutions), By Region, And Segment Forecasts, 2018 - 2025

Research Methodology

A three-pronged approach was followed for deducing the bluetooth beacons market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for bluetooth beacons market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of bluetooth beacons market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Bluetooth Beacons Market Categorization:

The bluetooth beacons market was categorized into three segments, namely technology (iBeacon, Eddystone), end-use (Retail, Travel & tourism, Healthcare, Financial institutions), region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Segment Market Methodology:

The bluetooth beacons market was segmented into technology, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The bluetooth beacons market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into nine countries, namely, the U.S., Canada, the UK, Germany, China, India, Japan, Brazil, and Mexico.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Bluetooth beacons market companies & financials:

The bluetooth beacons market was analyzed via companies operating in the sector. analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• Accent Advanced Systems, SLU - Accent Advanced Systems, SLU engages in providing proximity solutions. The company’s key business includes wireless devices that operate with Bluetooth, Wi-Fi, Sigfox, and beacons technology (iBeacons and Eddystone). They help turn their customer ideas into tailored electronic solutions. The company provides various services such as consultancy, hardware engineering, industrial design, custom software, and in-house manufacturing.

• BlueCats - BlueCats provides versatile beacons SDK (both Android and iOS), providing secure mode encryption and a cloud platform, which enables real-time insights to remote management. The company has a regional presence in Asia Pacific, North America, and Europe. BlueCats serves industries such as construction, healthcare, and enterprises. The company has collaborated with Google to include new security and privacy in their beacons.

• Blue Sense Networks - Blue Sense Networks provides hardware, software solutions, fully managed services, and cloud platforms for the end users. It provides enterprise customers intuitive platform that allows customers to create and manage campaigns, analyze their effectiveness, and get a better understanding of how customers interact with their physical space. The prominent customers of this company are Imagesound Ltd, Proxama, GM, PWC, and Hyatt.

• Bluvision, Inc. - Bluvision, Inc. is a subsidiary of HID Global and provides Bluetooth beacons solutions. The company also engages in providing sensor beacons and cloud connectivity solutions without the use of smartphone applications. The company provides cloud solutions that allow worldwide beacons deployment, workflow, and event management. The company offers real-time locating systems that help the organizations in real-time location of an asset thereby increasing the operational efficiency and optimizing the workforce. The company serves various customers in verticals such as airport and airline, content management, analytics and reporting, retail, healthcare, manufacturing, and analytics and alert. Bluvision, Inc. provides an end-to-end platform from sensor beacons to connectivity gateways.

• Estimote, Inc. - Estimote, Inc., engages in building a sensor-based analytics and engagement platform. The company develops operating systems for physical locations to analyze their business operations and customer interactions in real time. The company offers products that can be easily attached to the wall to detect human presence and relatively trigger pre-programmed actions delivering contextual and personalized experience. Some of the companies that use these beacons are Bleesk, Target, Volkswagen, Porsche, Xamarin, Tesco Lotus, Oracle, FedEx, and BMW.

• Gimbal Inc. - Gimbal Inc. previously known as Qualcomm Retail Solutions was a part of Qualcomm company and is a mobile customer engagement and locations solutions company. The company is engaged in providing beacons technology that allows customers to deliver custom content to their own consumers’ mobile apps. The combination of macro-location geofences and micro-location beacons with a cloud-based solution helps in managing and analyzing mobile campaigns. The company works with leading retailers, brands, entertainment venues, out-of-home networks, and mobile app publishers.

• Glimworm Beacons - Glimworm Beacons is the co-operation between Glimworm IT and Tweetonig of Rotterdam ‘concept of engineering’ firm and Seven-Erik Haitjema who is a design and manufacture engineer of beacons. Glimworm beacons are white, smooth, and glossy rubber beacons having removable covers on which the logo is printed. To maintain its position as a market leader Glimworm has recently launched USB-powered beacons for industrial use and multi-sensor and cloud-managed beacons. Current partners of the company include KPMG, DHL4U, The Telegraph Media Group, Royal BAM Group, Netherlands environment assessment agency, Velio Transportation, The European Foundation-Europe’s digital library and public service broadcasters, and the cities of Netherlands and Rotterdam.

• Kontakt.io - Kontakt.io engages in providing proximity-based solutions. The company was established to help the visually impaired navigate the public spaces easily. The company’s Bluetooth beacons and infrastructure management tools help businesses build context-rich applications to improve customer experience. The technology provided by the company helps in optimizing resources and getting more out of assets and real-time location systems. Kontakt.io provides beacons hardware compatible with both iBeacons and Eddystone.

• Onyx Beacons Ltd. - Onyx Beacons Ltd. is a provider of proximity solutions and technologies. The company provides integrated solutions for contextual communication and micro-locations for end-use industries based on Bluetooth beacons technology. Their iBeacons technology helps in tracking the smartphones of the end-users and provides them contextual information according to their needs. The company provides accurate and efficient micro-location proximity marketing, tracking the customer behavior inside the store, asset tracking, smart public transport, and engagement for event attendees.

• Radius Networks, Inc. - Radius Networks, Inc. is a provider of proximity solutions and services. The company’s proximity technologies are used by application developers, retailers, restaurant chains, sports complexes, and many other operators to generate customer traffic analytics and drive customer engagement. The company's key strategic partners include Samsung, Google, Coca-Cola, AOpen Inc, LG-MRI, and Modo Labs.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Bluetooth Beacons Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2016, historic information from 2017 to 2025, and forecast from 2018 to 2025). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Bluetooth Beacons Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.