Smart Beacon Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)
The smart beacon market is expected to register a CAGR of 54.05 % during the forecast period. Beacon technology enables smartphones, tablets, and other devices to perform actions close to a beacon. Because of characteristics such as the increased probability of successful sales, improved customer relationships, enhanced tailored experience, and real-time & affordable nature when compared to traditional marketing, proximity marketing has seen increased investment. Furthermore, increased mobile penetration promotes the expansion of proximity marketing.
Key HighlightsThe smart beacon market is highly fragmented with the precence of major players like Aruba Networks (Hewlett Packard Enterprise Development LP), HID Global Corporation, Leantegra Inc., Cisco Systems Inc., and Kontakt.io Inc. Players in the market are adopting strategies such as partnerships, megers and acquisitions to enhance their product offerings and gain sustainable competitive advantage.
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