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Beacon Market to Grow by USD 31.34 Billion by 2027, Driven by Widespread Adoption Across Diverse Sectors and AI Impact on Market Trends – Technavio

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NEW YORK, Sept. 6, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global beacon market size is estimated to grow by USD 31.34 billion from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of about 58.12% during the forecast period. Augmented adoption of beacon technology by diversified end users is driving market growth, with a trend towards rising demand for indoor positioning and indoor navigation (IPIN) systems. However, concerns over data security and privacy poses a challenge. Key market players include Accent Advanced Systems SLU, ams OSRAM AG, Apple Inc., ASSA ABLOY AB, Beacon Biosignals Inc., Beacon Platform Inc., Blesh, BlueCats Australia Pty Ltd., BlueUp Srls, Chengdu JAALEE Technology Co. Ltd., Estimote Inc., G24 Power Ltd., PaeDae Inc., Hewlett Packard Enterprise Co., Kontakt Micro Location Sp. Z.o.o, KS Technologies Inc., Leantegra Inc., MOKOSmart, Radius Networks Inc., and Texas Instruments Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Beacon Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017 – 2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 58.12%

Market growth 2023-2027

USD 31347.89 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

53.8

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 38%

Key countries

US, China, India, UK, and Germany

Key companies profiled

Accent Advanced Systems SLU, ams OSRAM AG, Apple Inc., ASSA ABLOY AB, Beacon Biosignals Inc., Beacon Platform Inc., Blesh, BlueCats Australia Pty Ltd., BlueUp Srls, Chengdu JAALEE Technology Co. Ltd., Estimote Inc., G24 Power Ltd., PaeDae Inc., Hewlett Packard Enterprise Co., Kontakt Micro Location Sp. Z.o.o, KS Technologies Inc., Leantegra Inc., MOKOSmart, Radius Networks Inc., and Texas Instruments Inc.

Market Driver

IPIN technology utilizes sensors, magnetic positioning, and Bluetooth Low Energy (BLE) technology to provide precise indoor positioning. Notable organizations, including Apple, American Airlines, Lord and Taylor, Walmart, The Coca-Cola Company, Macys.com, and Beiersdorf AG Nivea, have already adopted this technology for various applications. IPIN apps, which use location data to engage consumers, offer real-time directions, location-based advertising, social networking, and real-time tracking. While Global Positioning System (GPS) is effective for outdoor environments, it falls short for indoor positioning. Indoor location-based services (LBS) employ a combination of technologies, such as WiFi, infrared, ultrasound, WLAN modems, magnet positioning, radio frequency identification (RFID) tags, and BLE beacons, to track people or objects indoors and offer navigation within buildings. The increasing demand for IPIN technology, confined to limited spaces, is expected to boost the market’s growth during the forecast period. 

iBeacon technology, utilizing Bluetooth smart signals, is trending in proximity marketing. This geolocation method sends promotional notifications to smart devices within the proximity zone. IBeacons consume battery and require managing assets for optimal resource usage. Beacon protocols like Eddystone ensure safety and security concerns are addressed. Proximity marketing in shopping malls and transportation and logistics is growing, with nascent stage technologies like Ultra-Wideband and Zigbee emerging. Coin-sized and keychain beacons offer convenience, while plug-in beacons cater to larger spaces. Communication range and competitive strategies are key benchmarks. Data security and wireless networks are important considerations. Beacons are used in shopping carts and wayfindr for impairments, providing audio-based directions. Market penetration and evaluation in mature segments and emerging lucrative markets are ongoing. Competitive assessment and technological advancements continue to shape this industry. 

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 Market Challenges

Beacons, a technology that enables retailers to deliver targeted promotions and offers to consumers via Bluetooth Low Energy (BLE), offer numerous benefits such as converting online advertisements into offline sales. However, they also pose significant challenges related to privacy and data security. Retailers collect customer information to deliver personalized deals and offers, but this data can be accessed by malicious users and competitors. The network provider manages the database, granting them access to sensitive information. Unauthorized device detection via BLE beacons is another concern, leading to potential data loss, unwanted data transfer, and virus transmission. Hacking is also a threat, as demonstrated by the CES Scavenger Hunt app breach. To mitigate these risks, app developers must implement robust security models. Privacy and data security concerns are expected to remain major challenges for the global beacon market.Beacon Market: Navigating Challenges in the Nascent Stage The Beacon market is witnessing significant growth, driven by technological advancements and the increasing adoption of smart devices in transportation and logistics. However, several challenges persist in this nascent stage. Impairments from physical location and proximity require strategic benchmarks for optimal communication range using Ultra-Wideband, Zigbee, or Coin-Sized Beacons. Audio-based directions and data security concerns necessitate robust solutions. Wireless networks and wireless transmitters pose challenges, as does ensuring data security in the cloud. Emerging lucrative markets include disaster prevention and maturing segments like transportation and logistics. Market penetration and competitive strategies are essential for market leaders, with key players like Onyx Beacon and Eddystone beacons leading the way. Manufacturing capabilities and pioneering product developments are complexities that companies must address. Competitive Assessment & Intelligence will be crucial for market success. Key challenges include evaluating market diversification, untapped geographies, and competitive strategies.

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Segment Overview 

This beacon market report extensively covers market segmentation by

Type 1.1 iBeacon1.2 Eddystone1.3 OthersEnd-user 2.1 Retail2.2 Healthcare2.3 BFSI2.4 Transportation and othersGeography 3.1 North America3.2 APAC3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 iBeacon- iBeacons, introduced by Apple Inc. In 2013, are essential location-based tools that provide services and information to iOS and Android devices using Bluetooth Low Energy (BLE) technology. Unique Universal Identifiers (UUIDs) in iBeacons indicate their ownership, while Majors and Minors help identify specific beacons within a group. The Tx Power determines proximity, signaling strength at a one-meter distance. Retail stores, hotels, airports, hospitals, banks, and museums utilize iBeacons for business growth, enhancing customer loyalty, and gaining customer insights. The global beacon market is anticipated to expand due to the increasing demand for these technologies across various industries during the forecast period.

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Research Analysis

Beacons, including Coin-Sized and Keychain models, are small wireless transmitters that use Bluetooth Low Energy (BLE) technology for proximity-based communication. These technological advancements have revolutionized industries, enabling Smart Beacons for location-based services, market penetration, and diversification in untapped geographies. Manufacturers face complexities in competitive assessment and intelligence, balancing manufacturing capabilities with pioneering product developments. Eddystone beacons and iBeacon technology have transformed shopping experiences, with applications ranging from shopping carts and baskets to wayfinding systems using audio-based directions. However, concerns over impairments, data security, and wireless networks persist, requiring continuous innovation and improvement. Zigbee, a low-power wireless communication protocol, is increasingly being adopted for beacon networks to address these challenges.

Market Research Overview

Beacons are small wireless transmitters that use Bluetooth smart signals, such as iBeacons, to emit proximity-based notifications and geolocation methods. These technologies enable proximity marketing, managing assets, ensuring safety, and optimizing resources in various industries. Beacons operate on beacon protocols and can be found in shopping carts, baskets, transportation and logistics, and even on keychains or as plug-in devices. Despite being in the nascent stage, beacons offer technological advancements like Ultra-Wideband, Zigbee, and Coin-Sized Beacons. Proximity zones can trigger promotional notifications, audio-based directions for impairments, and data security concerns. Beacons have applications in wayfinding, disaster prevention, and communication range evaluation. Emerging lucrative markets include transportation and logistics, while mature segments like retail are undergoing market penetration and evaluation. Companies are focusing on competitive strategies, strategic benchmarks, and manufacturing capabilities to pioneer product developments. However, complexities in managing beacons, battery consumption, and wireless networks remain challenges. Eddystone beacons, cloud integration, and smart beacons are some of the latest developments in this field.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeIBeaconEddystoneOthersEnd-userRetailHealthcareBFSITransportation And OthersGeographyNorth AmericaAPACEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Lexmark Showcases New Printers and Technology Solutions for Retailers at NRF 2025

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NEW YORK, Jan. 12, 2025 /PRNewswire/ — Lexmark, a global imaging and IoT solutions leader, will showcase its cutting-edge, retail-ready printers and solutions at NRF 2025, Retail’s Big Show and Expo, Jan. 12 to 14, at the Jacob K. Javits Center in New York. The Lexmark showcase will be in booth #6321.

“Lexmark kicks off the year with a bang by showcasing our latest 9-Series family of A3 printers and MFPs at NRF for the first time,” said Tim Speller, Lexmark’s head of retail and manufacturing. “These sophisticated devices will usher in a new era of opportunity for retailers to maximize operational efficiency while increasing sales.”

Here’s what will be on display in Lexmark booth #6321:

New Lexmark 9-Series printers and MFPs are designed for challenging retail environments

Built by evolving Lexmark’s renowned A4 technology, the 9-Series delivers versatility, simplicity and sustainability. These solutions are easy to use and manage – perfect for any retail salesfloor or back office.

Key highlights of 9-Series:

Versatile and easy to use. The 9-Series offers a broad range of media size support (A6 to SRA3), high-volume duty cycles, a common set of modular paper-handling options, finishing capabilities and professional color features including PANTONE® calibration.Simple and easy to manage. The 9-Series’ intuitive interface streamlines workflows by providing simple instructions and prompts. For routine maintenance, toner cartridges can be replaced with one hand, easily understood visual cues are displayed, and serviceable areas are easy to access and identify.Sustainable and easy to feel good about. The 9-Series’ total post-consumer recycled (PCR) content is 56% by weight for all base-model MFPs and 73% by weight for the line’s base-model printer, based on IEEE calculation procedures. *Built to last. The 9-Series is designed and built to last seven years or more. Having few components helps reduce the likelihood of technical failure while also minimizing the service time required for repairs and maintenance. Experienced technicians can perform most common service actions, even highly complex tasks, in less than 15 minutes, according to Lexmark testing.

Lexmark Engagement Automation Platform (LEAP) helps retailers drive sales and foot traffic with hyper-local social media ads

LEAP automates one-to-one promotions that drive footfall to local stores. Store leaders can trigger hyper-personalized sale posts and boost ads based on individual store inventory conditions through loyalty program apps and social media platforms like Facebook and Instagram. With advanced analytics and reporting capabilities, LEAP provides the insights needed to measure success and make data-driven decisions.

Key highlights of LEAP:

Engagement: To engage shoppers, center promotions around customer buying patterns with an engagement automation platform that posts localized content – such as store-specific offers, events and locally grown produce initiatives.

Automation: Schedule and manage automatic localization and delivery of corporate promotional messaging with an engagement automation platform to reach consumers through social media with hyper-local content around each store or audience region.

Loyalty: Attract local customers with an engagement automation platform that sends store- and corporate-initiated offers to geo-fenced social media apps like Facebook and Instagram and loyalty program applications.

Supporting resources

Learn more about Lexmark’s booth at NRF 2025.

Read Lexmark’s NRF blog.

Schedule a booth meeting with our retail experts during NRF 2025.

Get more details about the Lexmark 9-Series.

Get more details about the Lexmark Engagement Automation Platform (LEAP).

Watch a video about LEAP.

Get the details on NRF 2025.

Follow us on LinkedIn for live NRF updates.

About Lexmark

Lexmark creates cloud-enabled imaging and IoT technologies that help customers worldwide quickly realize business outcomes. Through a powerful combination of proven technologies and deep industry expertise, Lexmark accelerates business transformation, turning information into insights, data into decisions, and analytics into action.

Lexmark and the Lexmark logo are trademarks of Lexmark International, Inc., registered in the United States and/or other countries. All other trademarks are property of their respective owners.

* PCR content measured in accordance with IEEE Std 1680.2a™ – 2017 Standard for Environmental Assessment of Imaging Equipment – Amendment 1 — which is the standard used by EPEAT.

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SOURCE Lexmark

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Pricer and Focal Systems Announce Strategic Collaboration to Drive the Next Step in Physical Store Digitalization

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Pricer, a global leader in digital shelf-edge solutions, and Focal Systems, a leader in shelf-edge AI, today announced a strategic collaboration to accelerate the digitization and optimization of the physical store for retailers worldwide.

STOCKHOLM, Jan. 12, 2025 /PRNewswire/ — This collaboration brings together Pricer’s innovations in dynamic pricing and shelf-edge communication with Focal Systems’ advanced computer vision and product availability solutions to maximize shopper satisfaction while optimizing retail operations.

As a pioneer in enabling dynamic pricing and digitizing shelf-edge shopper communication, Pricer has led the first step of the retail digitalization journey. Focal Systems has pioneered the application of computer vision to digitizing what products are available on-shelf or not in near real-time. Together, Pricer and Focal Systems will empower retailers to improve labor efficiency, reduce out-of-stocks, increase sales, and enhance shopper satisfaction like never before.

Enhancing the Shelf Edge Through Collaboration

By integrating Focal Systems’ AI-powered shelf vision cameras with Pricer’s leading electronic shelf label (ESL) platform, retailers will benefit from:

Real-Time Shelf Insights: Automated detection and alerting of out-of-stock or low items powering rapid replenishment and increased shopper satisfactionDynamic Task Automation: Streamlined workflows and prioritized tasks to improve operational efficiency for store staff.Patented Innovation: Camera-based out of stock detection and communication, flashing ESLs, alternate location communication.Seamless Integration: Standardized API connections that deliver out-of-the-box value, offering synchronized ESL flashes, messaging updates, and shelf-edge intelligence.

Together, Pricer and Focal Systems demonstrate that the combined offerings deliver measurable value for the retailers by enabling a fully digitalized shelf-edge ecosystem.

Strategic Collaboration for the Future of Retail

“We are proud to combine our leadership in ESL technology with Focal Systems’ AI-powered shelf vision,” said Chris Chalkitis, CDO at Pricer. “Both companies share a belief in the digitalization of the physical store. Pricer has been a pioneer in dynamic pricing and shelf-edge communication. With Focal Systems, we take the next step, digitizing what’s on the shelf – and what’s not – to drive greater efficiency and performance for retailers.”

Focal Systems’ AI technology transforms retail operations through real-time shelf monitoring and replenishment task optimization.

“Partnering with Pricer, a global leader with groundbreaking ESL technology and innovation, creates tremendous value for retailers,” said Kevin H. Johnson, CEO at Focal Systems. “Together, we deliver an integrated, data-driven solution that reduces operational complexity, automates workflows, and enhances the in-store experience. We look forward to demonstrating this powerful collaboration to retailers and their customers.”

Showcasing the Future at NRF 2025

The collaboration will officially debut at the National Retail Federation (NRF) Big Show in January 2025, where Pricer and Focal Systems will showcase the integrated solution at Pricer’s booth. This marks the beginning of an exciting journey to redefine the shelf edge and set new standards for retail innovation.

For further information, please contact:
Chris Chalkitis, Chief Digital Officer, +46 70 4849812
Finn Wikander, Chief Product Officer, +46 705 233077
info@pricer.com

About Pricer

Pricer is a leading global provider of digital shelf-edge solutions, helping retailers optimize pricing, improve operational efficiency, and enhance the customer experience. With patented innovations like camera-based product identification by ESL, Pricer continues to set the standard for dynamic, intelligent shelf-edge solutions. For more information, visit www.pricer.com.

About Focal Systems

Focal Systems is a leading provider of AI-powered computer vision solutions, helping retailers automate operations and optimize product availability through real-time shelf monitoring. Its advanced technology delivers actionable insights that drive efficiency and profitability. For more information, visit www.focal.systems.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/pricer/r/pricer-and-focal-systems-announce-strategic-collaboration-to-drive-the-next-step-in-physical-store-d,c4090287

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Blue Owl Capital Expands Tennis Player Sponsorship to All Grand Slam Tournaments in 2025

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Blue Owl to place logo patches on dozens of athletes competing across the Australian Open,
French Open, Wimbledon, and US Open

Jordan Thompson named as Blue Owl’s dedicated athlete ambassador for the Australian Open

NEW YORK, Jan. 12, 2025 /PRNewswire/ — Blue Owl Capital Inc. (“Blue Owl”) (NYSE: OWL), a leading alternative asset manager, announced today a marquee sponsorship agreement to expand their presence at all Grand Slam tournaments in 2025 and become the exclusive financial services partner for professional tennis’ Player Patch Program.

Blue Owl’s logo will be featured on the shirt of select players competing across men’s singles, women’s singles, mixed doubles, men’s doubles and women’s doubles competitions at this year’s Australian Open, French Open, Wimbledon, and US Open tournaments. In addition to Blue Owl’s presence on the courts, the firm will be featured in iconic Melbourne transit hubs, social media and digital media during the Australian Open in an effort to raise brand awareness within the country and the broader APAC market.

Blue Owl Chief Marketing Officer Suzanne Escousse said, “Just as Blue Owl is redefining alternative investing, we are supporting established and emerging professional players who are redefining the game of tennis. Tennis is a truly worldwide sport requiring peak performance in critical, high-pressure moments. This is the same ethos that underpins Blue Owl and allows us to focus on delivering results for our international client base. Following the success of our involvement with the Patch Program at the 2024 US Open, and given Blue Owl’s established presence within the country, Australia is the perfect place to kick off our presence across Grand Slam tournaments.”

Blue Owl has also partnered with Australian tennis professional Jordan Thompson, who will serve as the firm’s Athlete Ambassador at the 2025 Australian Open – January 12-26 in Melbourne. Most recently, Thompson won the men’s doubles at the 2024 US Open, where he was wearing a Blue Owl patch, and was a men’s doubles finalist at Wimbledon in 2024. He has also registered victories over several top-10-ranked opponents in singles competitions and previously represented Australia at the Olympics and the Davis Cup. Thompson will be one of several competitors wearing Blue Owl’s logo throughout the tournament.

Jordan Thompson said: “Blue Owl is focused on delivering excellence for its clients, which makes it a great fit for a partnership with professional tennis players. Support from firms like Blue Owl is tremendously beneficial for players who are preparing for career-defining events, especially the four Grand Slams. Our shared core values, including striving for success in every step of our journeys, whether that be in the financial services industry or competing as a professional athlete, is a perfect match. Alongside my coaches, my doubles teammate(s) and tennis fans, Blue Owl will play a key role for me here in Melbourne at the 2025 Australian Open.”

About Blue Owl

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives.

With $235 billion in assets under management as of September 30, 2024, we invest across three multi-strategy platforms: Credit, GP Strategic Capital, and Real Estate. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,050 experienced professionals, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com.

Media Contact

Nick Theccanat
Principal, Corporate Communications & Government Affairs
Nick.Theccanat@blueowl.com

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SOURCE Blue Owl Capital

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