VANCOUVER, BC, Oct. 29, 2020
- The increasing IoT penetration and growing government initiatives to improve the retail industry are driving the demand for the market.
- Market Size – USD 2.10 Billion in 2019, Market Growth - CAGR of 44.1%, Market Trends – The rise in the adoption of advanced operational technology in several industries.
VANCOUVER, BC, Oct. 29, 2020 /PRNewswire/ -- The Global Beacon Technology Market is forecast to be worth USD 35.15 Billion by 2027, according to a current analysis by Emergen Research. The beacon technology market is anticipated to grow substantially owing to the growing penetration of the Internet of Things technology, increasing investments in proximity marketing, and rising demand for sensor-based devices in different industries. The growth in organized retail stores provides the players functioning in the beacon technology market with sufficient growth prospects. With the support of government-organized retail outlets are growing substantially, such as supermarkets, department stores, and hypermarkets, which is expected to fuel the market growth shortly.
The high configuration costs and security problems are likely to hamper the growth of the market.
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Emergen Research has segmented the Global Beacon Technology Market on the basis of deployment, platform, technology end-use, and region:
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