#bluetoothbeacons

The global bluetooth beacon market size is expected to reach USD 58.7 billion by 2025, according to a new report by Grand View Research, Inc. The introduction of next-generation software-based and virtual beacons are expected to boost the market demand.

The key factor driving the industry growth is the increased number of applications powered by beacons and Bluetooth Low Energy (BLE) tags. Beacons are witnessing growing penetration across asset tracking and machine/equipment status observation in high volume verticals. At the same time, the markets for both existing and new applications are maturing, leading to larger roll-outs.

Growing integration of beacons in cameras, LED lightings, point of sale (POS) devices, digital signage, and vending machines is expected to propel the industry growth over the forecast period. Apart from retail applications, beacons are also projected to become a common commodity in industrial applications.

Industries are increasingly shifting toward the incorporation of Bluetooth-powered solutions from conventional proximity solutions including Wi-Fi and RFID. Assets based on Wi-Fi, RFID, and people flow tracking systems have currently captured a significant revenue share in the healthcare and intra-logistics sectors. The relatively lower price point of Bluetooth-based solutions is playing a pivotal role in their large-scale adoption in various domains such as indoor navigation, worker security, elderly care, and affordable asset tracking.

To request a sample copy or view summary of this report, click the link below: http://www.grandviewresearch.com/industry-analysis/bluetooth-beacons-market

Further key findings from the report suggest:

Bluetooth     beacon are poised for large-scale adoption throughout the forecast period,     with a projected CAGR of 95.3% from 2017 to 2025

The Eddystone     segment is expected to witness the fastest growth due to its open format     and the ability to offer a broad range of solutions for proximity     interactions without the need for native apps

The     healthcare segment is anticipated to grow at an enormous rate over the     forecast period with an estimated CAGR of over 100% from 2017 to 2025, as     there has been an increased need for streamlining hospital operations to     provide customized services as per the patients’ history

Leiden     University Medical Center uses the iBeacon technology along with Internet     of Things (IoT) platform to treat patients with Acute Myocardial     Infarction (AMI)

The Asia     Pacific Bluetooth beacons market is expected to witness appreciable growth     which is attributed to the high potential applicability of beacons in the     retail sector

Key industry     players include Estimote, Inc.; Kontakt.io; Accent Advanced Systems, SLU;     Onyx Beacon Ltd.; and Bluvision Inc.

See More Reports of This Category: https://www.grandviewresearch.com/industry/communication-services

About Grand View Research:

As the retail market continues to grow, the race to attract customers becomes increasingly competitive. Retail marketers have to find innovative ways to appeal to masses. 

Given the digital age we live in, here are some of the most effective marketing strategies in the retail world. 

1. Be locally relevant:  

Most often, the same marketing strategy will not resonate similarly with retail stores in different localities. It is important to customize the retail experience based on local taste. 

For example, an area with an younger demographic may demand a more trendy, tech savvy retail experience, while this may not work with older generations. 

2. Location based advertising: 

Retailers are adopting location based advertising at a very fast pace today, and it is important to keep up with this trend. 

Why is this important? 

Using location based services, stores are able to target users within a specific geographic radius of the store location, making marketing as relevant and contextual as possible. For example, if you are a luxury brand retailer, you might like to deploy location advertising in a high-income neighbourhood, to attract the most relevant and interested customers. 

3. Enhance your in-store experience: 

Marketing is not only about attracting customers to your store, but also retaining strong relationships with existing customers. How can this be achieved? 

By giving them the best in-store experience. 

Using technology like beacons, you can enhance your in-store experience with ease and at a low cost. Here are some effective ways you can achieve this:

1. Send welcome messages: using geofencing, you can track when users enter your store and send welcome messages, along with offers that may be relevant and useful to them 

2. Make queues less frustrating: offer distractions to users with interesting information, memes or GIFs to make queues seem shorter. 

3. Contactless payment: using beacons, you can now make the payment procedure much more efficient and effortless. 

4. Retargeting: 

There is an important segment of customers that retailers often forget about. These are the people who entered the store and showed some interest, but did not end up making a purchase. 

These are valuable customers to target because they are already interested and just need an extra nudge to make a purchase. 

With marketing efforts becoming increasingly targeted and tailored towards specific audiences, location based advertising is gaining momentum. If you’re not familiar with the concept, now’s the time to learn.

What is location based advertising?

It is essentially a marketing strategy that uses geo-data from smart devices in order to send location based messages to users.

Why is location based advertising important?

The world is swarming with advertisements, promotions and offers. If messages are not tailored and targeted towards an interested audience, then it is a waste of time and resources for the marketer.

Location based advertising is a means of making marketing more relevant and contextual for customers. For example, if you own an online grocery store, you could place bluetooth beacons in a local farmer’s market. This way, shoppers at the market, who are already interested in purchasing grocery, can be informed of attractive deals you have to offer.

Location based advertising differs from location based promotion, because it aims to increase brand awareness, while the latter simply serves to provide short term offers to users within relevant proximity.

Geofencing is a form of radius targeting that creates a virtual fence around the radius of a user’s location, using GPS or RFID. This triggers a response whenever a user enters or leaves the boundary.

Geotargeting, as the name suggests, can be targeted toward a specific segment of the population within the virtual fence. This helps marketers save time and resources by avoiding irrelevant targets.

With the multitude of offers, deals and advertisements constantly being shelled out on every possible platform, it becomes essential to use every opportunity to advertise your product or service. 

For stationary businesses with fixed locations, such as retail stores, this is relatively simple. But what about businesses that are constantly on the move? 

Beaconstac aims to solve this issue with proximity marketing. The answer is ridiculously simple: keychain beacons. They are essentially smaller sized beacons that can be carried on-the-move. Now your campaigns can travel with you. 

Here are some popular applications of keychain beacons: 

1. Real estate: 

Real estate agents are constantly on the move. They can use keychain beacons  to push out their business cards, or advertise properties nearby. Beacons carried by the agent himself might actually be more effective, because people can seek more information directly from the agent. In contrast to an impersonal advertisement pushed out to everyone, potential buyers can now feel a more personal connection to the agent. 

2. For event marketers: 

Event marketers also face a similar problem. Since there is no single location they can attract clients to, they need to find ways to market at event locations itself. This means they need a mobile marketing solution, aka keychain beacons. 

Event marketers can also use these beacons to improve the quality of their events. Since beacons push out proximity based messages to bluetooth enabled smartphones, marketers can use them to send out cards containing further information about the event taking place. 

Event management can also be made easy and efficient, if beacons are used to push out information such as seat maps, ticket sales and food and drink menus. 

3. For volunteers, recruiters and attendees: 

At events such as college job fairs or hackathons, it can be beneficial to promote related events that might interest attendees. Recruiters can use beacons within the proximity of the booth. At networking events, people can use beacons to share business cards. 

If not used properly, digital signage can be just as effective as a static, printed poster. But they do have the potential to improve customer engagement and boost in-store experience. Here’s how:

They are contextually relevant: One of the biggest advantages of digital signage is the ability to alter the display whenever needed, according to relevancy. This may seem trivial, but it can really make a difference. Update your signage based on a number of relevant external factors factors such as seasons of the year and internal factors such as new products.

They are visually appealing: Signages must be attractive to the eye. The point is not to load the display with blocks of text that no one is going to read. It is important to keep the text at a minimum: clear and crisp, while filling majority of the space with appealing images.

They are convincing: Use digital signage to convince the customer to purchase your product. This means you need to demonstrate why it is useful to them. For example, in a clothing store, instead of simply demonstrating a picture of a t-shirt, which the customer can already see, show outfits using the t-shirt.

These are stock traits that every effective digital signage must have. But there is an additional tactic that is increasing being used to further enhance in-store engagement.

Most recently, digital signage has been used along with proximity beacons in order to make the customer experience as contextual, personalized and interactive as possible.

Digital signage is a very enticing and attractive way to draw people in. However, it is important to convert that interest into action. This means giving the customers an opportunity to respond to it.

That’s where beacons come in.

Beacons are low powered transmitters with Bluetooth Low Energy (BLE) that transmit proximity based, context aware messages via bluetooth. In simpler terms, if a person with bluetooth on their smartphone enters the proximity of your beacon, they will receive any message you wish to send them.

Today, beacons can be used in combination with digital signages in creative ways, so that the customer can interact with the product and understand it better in-store. The synergic effect of beacons and digital signage has the potential to transform customer experience.

Here's how retailers are using beacons as an accessory to digital signage:

Personalized: Marketing is much more effective if it can make the customer feel a personal and familiar connection to the brand. When a user walks past the digital display, they can be welcomed through a beacon campaign on a first name basis. Purchase history can be used to give product suggestions for the customer. For example, if the customer bought a phone the previous time, an offer about phone cases may be relevant to them.

Informative: When a customer picks up a product, the display can show further information about it and guide the user on how they can test it out.

Customer-centric: Customers can choose what to display on these signages. They can control what they want to see by selecting it through beacon campaigns on their smartphones.

Navigation: Using proximity beacons, customers can find it easier to navigate through stores, and quickly find what they are looking for.

With extended work hours, and the lack of time to cook or go out, the food delivery industry is gaining immense momentum, making the market extremely competitive today. So it can be very challenging for emerging companies to gain recognition in this industry, and it can also be difficult for existing companies to retain and grow their customer base. 

Given this dilemma, companies are looking for innovative and effective ways to market their business. Beacons, being the versatile proximity marketing tools that they are, can really help boost such companies. 

What are beacons and why are they effective?

Beacons are essentially low powered transmitters with Bluetooth Low Energy (BLE) that transmit proximity based, context aware messages via bluetooth.

In simpler terms, if a person with bluetooth on their smartphone enters the proximity of your beacon, they will receive any message you wish to send them.

This means, you can make your campaigns as contextually relevant as possible! You are targeting the right people at the right time and right place.

For example, you could place your beacon in a gym, and send out campaigns about the healthy food you deliver. Here, you are targeting healthy people at a time when they are probably thinking about food and are too tired to eat outside. 

How you can best leverage beacons in the food delivery industry