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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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Connatix and JW Player Merge To Create the Industry’s Largest Video Technology and Monetization Platform

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Advanced offering brings unparalleled monetization and streaming capabilities across CTV and OLV for broadcasters, publishers, and advertisers

NEW YORK, Oct. 9, 2024 /PRNewswire/ — JW Player (JWP), the leading video streaming and data insights platform, today announced it is merging with Connatix, the leading video delivery and monetization solution, forming JWP Connatix. By unifying JWP’s broadcast-level live and on-demand streaming, data, and workflow capabilities with Connatix’s full stack advertising and content technology, JWP Connatix becomes the industry’s most comprehensive independent video technology and monetization platform for broadcasters, publishers, and advertisers.

This merger arrives as the digital video ecosystem is experiencing transformational change. Consumers are increasingly cutting the cord in favor of Connected TV (CTV) and streaming services, leading to rapid shifts in global advertising spend and the emergence of new direct-to-consumer subscription and pay-per-view offerings. In 2024, global CTV ad revenue will surpass $30 billion, while the top ten streaming services alone will support nearly 1 billion subscribers. Given this, publishers, broadcasters, and advertisers must transform their video strategies to meet these evolving viewer expectations and business needs.

“How and where viewers consume video is rapidly changing. As a result, media companies require innovative solutions that allow them to maximize audience engagement and help optimize revenue across disparate monetization models, whether it be advertising, subscriptions or commerce,” said David Kashak, Co-founder and CEO of Connatix. “Together, JWP Connatix fulfills that requirement, by accelerating our companies’ mutual visions to create environments where premium video viewing, powered by best-in-class technology, meets high-quality monetization experiences, enabling media leaders to deliver exceptional results.”

JWP Connatix creates an indispensable partner in this rapidly changing video ecosystem, powering streaming for over 2,000 blue-chip media companies, including 80% of the top 25 Comscore US publishers. As the largest independent global video network across CTV and OLV, the company reaches over 1 billion unique users and delivers 30 billion+ combined video plays and ad impressions every month. Key benefits for customers include: 

Global reach and reliable scale: Streaming 7 billion minutes of VOD and live content to over 1 billion unique users on any screen around the worldHybrid monetization models: Support for subscription, advertising and e-commerce business models, leveraging insights from content and audiences to help maximize revenueUnique insights to optimize outcomes: Leverage AI to combine trillions of contextual, consumption, and monetization data signals to match customers with content and ads, boosting engagementSingle end-to-end platform for OLV and CTV: Streamlined video management platform enabling diverse monetization opportunities across content, commerce, and creative

“By joining forces, JWP Connatix ushers in a new era for digital video. The complementary nature of our  businesses enables us to bring a unique combination of scale, product breadth, and industry expertise to the market,” added Dave Otten, CEO and Co-Founder of JWP. “Perhaps more importantly, we are bringing together two knowledgeable, and dedicated teams, whose skill-sets and values are a perfect match. We could not be more excited about this partnership and look forward to shaping the future of digital video together.”

As part of the transaction, Dave Otten will become CEO of the combined company, while David Kashak will serve as its Chairman. JWP Connatix will be headquartered in New York City with additional offices in London, Cluj-Napoca, Eindhoven, Skopje, and Tel Aviv.

About Connatix

Connatix is a video technology company that powers the world’s stories with effortless and inspiring solutions. Through a proprietary full-stack platform, Connatix helps publishers deliver, monetize, analyze and create video, while providing advertisers with premium video inventory and a collection of data intelligence solutions including Deep Contextual™and predictive audience targeting.  Sitting at the forefront of innovation, Connatix leverages the power of AI to optimize revenue and ensure relevancy, efficiency and scale across campaigns.

Connatix currently works with 350+ publisher groups across thousands of sites and leading brands and agencies. The private equity-backed business has been named an AdExchanger Programmatic Power Player for two consecutive years and included on the Inc. 5000 list of the fastest growing companies for three consecutive years. Founded in 2014, Connatix is headquartered in New York City and continues to expand its global footprint with offices in London, Cluj-Napoca, and Tel Aviv.

About JWP

JW Player (JWP) is a leader in video streaming and player technology, providing broadcasters and publishers with a platform for delivering and monetizing video content across web, OTT, CTV, and FAST platforms. JWP’s technology helps deliver exceptional video experiences, engage audiences, and increase viewing time. Pioneering innovations like HLS streaming, header bidding for video, and contextual content recommendations, JWP offers a comprehensive end-to-end streaming management platform. Founded in 2008, JWP is one of the fastest growing SaaS companies in the world with a vision to power video-driven businesses so they thrive in the digital video economy.  Serving over 2,000 global broadcasters, publishers, and video-driven brands, JWP powers video for over 1 billion users each month and 5 billion minutes of video watched. Headquartered in New York, JWP has offices in London, Eindhoven, and Skopje.

Media Contact
Cassady Nordeen
cassady@purposenorthamerica.com

 

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Proteotype Awarded £1.5 Million Grant to Advance Early Cancer Detection with Innovative Enlighten® Test

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CAMBRIDGE, United Kingdom, Oct. 9, 2024 /PRNewswire/ — Proteotype Diagnostics Ltd, in collaboration with the University of Southampton, has been awarded £1.5 million in funding from the National Institute for Health and Care Research (NIHR) and the Office for Life Sciences (OLS). The grant (NIHR207538) will support clinical validation of Proteotype’s novel Enlighten® Multi-Cancer Early Detection test, a revolutionary approach to detecting early-stage cancers by focusing on the body’s response to tumour development.

A Breakthrough in Early Cancer Detection

While many cancer diagnostics rely on tumour-released signals, such as circulating tumour DNA, which is often only detectable once cancer has progressed, Enlighten® takes a different and potentially more powerful approach. It measures the host response to tumour development, tracking changing levels of proteins that occur even in the earliest stages of cancer.

Initial results have been promising. At AACR 2024, Proteotype reported a detection rate of 86% across multiple cancers, with a 0% false-positive rate and strong signals for early-stage cancers. The test now needs to be validated in a larger group of patients, enabling a statistically powered calculation of performance.

Dr. Emma Yates, co-founder and Chief Scientific Officer at Proteotype Diagnostics, said: “When cancer is discovered earlier, patients have more treatment options and better outcomes. Enlighten® is designed to disrupt, detecting cancer as early as the immune system, whilst remaining simple enough yet robust enough to fit existing care pathways and NHS needs.”

Focused on Health Equity

Enlighten® will be trialled in real-world NHS settings with a specific focus on reaching higher-risk, underserved populations. The MODERNISED clinical study, led by Professor Andrew Davies from the University of Southampton Experimental Cancer Medicine Centre, will recruit 1,350 participants across Southern England, targeting cancers with high mortality rates in socio-economically deprived areas, such as colorectal, lung, and pancreatic cancers.

Wesley Sukdao, co-founder and CEO of Proteotype Diagnostics shared: “Growing up in poverty in South Africa, I lost three of my closest family members to cancers detected too late, all before I turned fourteen. To meaningfully impact health inequalities, cutting-edge cancer diagnostics must be both affordable and accessible. My team and I are focused to deliver on this mission.”

Driving Cost-Effective Screening for the NHS

Enlighten® does not require highly expensive, specialised equipment or consumables. Affordable laboratory kits applied to crude patient plasma enable easy scale-up for mass screening. With low data requirements and results within 24-hours of sample measurement, it is well positioned for NHS-wide adoption.

MODERNISED will be accompanied by a Health Economic Evaluation to ensure it delivers clinical benefit and meets NHS financial goals.

A Critical Step Forward

This grant is part of a UK Government commitment of £22.5m to deliver the OLS Cancer Programme. The NIHR i4i-OLS call forms part of this programme. Over the next 24-months, Enlighten® will undergo clinical validation, bringing it closer to regulatory approval and potential integration into NHS cancer screening programs.

Professor Andrew Davies, Chief Investigator (MODERNISED), commented: “Enlighten is innovative, capturing changing levels of proteins released into the bloodstream even in the earliest cancer stages. If Enlighten performs well in MODERNISED, it could mark a step change in early cancer diagnostics.”

About Proteotype Diagnostics Ltd

Proteotype is a pioneering diagnostics company dedicated to the development of advanced multi-cancer early detection and personalised medicine tests that measure the host response to tumour development. By leveraging cutting-edge technologies and comprehensive research, Proteotype aims to revolutionise cancer diagnostics and improve early detection, ultimately enhancing patient outcomes and survival rates.

Media contact: pr@proteotype.com 

Email invest@proteotype.com to partner and bring this test to a clinic near you.

 

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DCS Awarded $70.7M Contract to Support Army’s Ground Vehicle Systems Center

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ALEXANDRIA, Va., Oct. 9, 2024 /PRNewswire/ — DCS Corporation is pleased to announce the award of the U.S. Army Combat Capabilities Development Command (DEVCOM) Ground Vehicle Systems Center (GVSC) Ground Vehicle Simulation Lab (GVSL) contract valued at $70.7M.

Under this 5-year contract, DCS will continue to provide technical services to the U.S. Army (DEVCOM) GVSC Immersive Simulation Directorate (GVSC-IS) in Warren, Michigan. GVSC-IS is home to a world-class facility that develops and applies physics-based simulations, simulators, crew station design, and virtual simulation in support of Army ground combat vehicle technology research, development, and maturation. Under this contract, DCS will provide technical services for: Immersive Ground Vehicle Simulation development, integration, and execution; Ride Motion Simulation and Crew Station/Turret Motion Based Simulation; crew station development and integration; and conduct and evaluation of Virtual Experimentation. The technology developed will advance the Army’s ability to evaluate concept and existing vehicle systems mobility, durability, and operations on the move.

“For more than 20 years, DCS has supported GVSC-IS and U.S. Army Tank-Automotive and Armaments Command in conducting motion-based and large-scale experiments at the world-class GVSL modeling and simulation facilities,” commented Bill Protzman, DCS President and COO. “We are excited to continue supporting GVSC-IS and the Warfighter.”

DCS has been a trusted partner of the U.S. Army GVSC and its predecessor organizations for more than 35 years. DCS employee-owners work alongside Government counterparts to further the research, development, acquisition, integration, testing, fielding, and post-fielding operations of manned and unmanned ground vehicles. These Government-contractor teams develop and deliver innovative solutions to support the mission of the Army.

About DCS An employee-owned company, DCS offers advanced technology, engineering, and management solutions to Government agencies in the national security sector. The transformative ideas, commitment to quality, and entrepreneurial spirit that characterize our employee-owners allow us to ensure the success of each customer’s mission and actively contribute to the well-being of the Nation. For more information, please visit: https://www.dcscorp.com

Contact: DCS Media, dcsmedia@dcscorp.com, 571-227-6000

DISTRIBUTION STATEMENT A. Approved for public release; distribution is unlimited. OPSEC9069

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