The rise in the need for managing multiple beacons deployed in commercial spaces or retail stores, penetration of IoT, increase in automation of building management and increase in adoption of beacon technology drive the global beacons management software market.
In addition, the evolving smart cities are expected to create numerous opportunities for the growth of the market. However, limitations on beacon deployment hamper the beacon management software market growth.
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According to a recent report published by Allied Market Research, titled, “Beacons management software Market by Component and End User: Global Opportunity Analysis and Industry Forecast, 2017-2024,” the global beacons management software market was valued at $1,979 million in 2017, and is projected to reach at $6,516 million by 2024, growing at a CAGR of 18.70% from 2018 to 2024.
Based on end user, the retail segment led the beacons management software market in 2017, and is projected to maintain its dominance in the future. However, the non-retail segment is expected to witness the highest growth, owing to its increased adoption due to different initiatives taken by countries to develop the smart cities where these beacons are used extensively creating the demand for beacons management software.
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The global beacon management software market was led by North America in 2017 and is projected to maintain its dominance during the forecast period. However, the Asia-Pacific is anticipated to witness the fastest growth registering a CAGR of 23.7% during the forecast period.
Some of the key players operating in the beacons management software market and are profiled in the report include Aruba by HP, Beaconinside GmbH, BlueCats, Estimote, Inc., Glimworm Beacons, Kontakt.io, MobStac, Inc., Quuppa Oy, Relution Inc., and Sensoro Co., Ltd.
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Key Findings of the Beacons Management Software Market
- The service segment is expected to exhibit significant increase in the global beacons management software market during the forecast period.
- In 2017, the retail segment accounted for the highest revenue among the other end user.
- North America generated the highest revenue in 2017.
- Asia-Pacific is projected to exhibit substantial growth during the forecast period.
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