New Market Research Report: Global ibeacon Market 2015-2019

The world is undergoing the third industrial revolution, following the first machine-based production revolution, subsequent electrification-based mass production systems, and now the development of smart infrastructure built around the internet of things (IoT). ibeacons, based on micro-location and contextual engagement, are a part of the IoT ecosystem. These small devices provide location-based information and alerts to nearby iPhones and other iOS devices using Bluetooth low-energy transmissions.

Technavio's analysts forecast the global ibeacon market is set to grow at a CAGR of 200.3% over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "The integration of online and offline analytics is being used to analyze conversion rates to maximize e-commerce and in-store sales. Beacon technology is being used to collect information in sectors like retail, healthcare, and transit systems to discover insights into people's behavior. If a retailer has a 360-degree view of customer behavior, they can use actionable insights to boost sales. Generally, offline customer behavior is only analyzed at the end of the shopping process, during payment when loyalty cards are used and invoices generated. Currently, customer behavior is measured only online, but now in-store analytics using iBeacon technology can be used to get a clearer view of customer's buying patterns along with online browsing patterns."

According to the report, mobile devices are becoming an integral part of today's urban and semi-urban lifestyles across the world. As more people acquire devices for everyday use, the market for mobile applications should grow in tandem. Rising urban populations, higher disposable incomes, and greater awareness of the capabilities of electronic devices and apps are cumulatively pushing growth in the iBeacon market.

Further, the report states that privacy and security issues remain a major challenge for this market.

The key players in the Global ibeacon Market are Apple, Estimote, Gimbal and Kontakt while other prominent vendors include Gelo, BlueCats, BlueSense and GlimWorm

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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