Bluetooth beacon is a type of bluetooth low energy (BLE) device that broadcasts radio signals into nearby portable electronic devices. Bluetooth beacons use bluetooth low energy proximity sensing to determine physical location of devices and track customers in a specific area. They are mainly used in retail outlets.
Major factors driving growth of the global Bluetooth beacons market are increasing adoption of smartphones with bluetooth low energy (BLE) support and increasing number of mobile applications that use Bluetooth technology. Additionally, low deployment costs and its ability to be supported by all operating systems (OS) are other factors expected to propel growth of the global market over the forecast period.
Moreover, increasing use of Bluetooth beacons in retail stores, schools, healthcare facilities, financial service organizations, and media houses is another factor expected to fuel growth of the target market to a significant extent.
However, limited scalability, frequency variations, and limited frequency range of Bluetooth beacons are major factors restraining growth of the global market. In addition, presence of other technology substitutes such as Wi-Fi and near-field communications (NFC) in the market, that can perform all tasks that a Bluetooth beacon can perform is another factor expected to hamper growth of the global market over the forecast period.
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