iBeacon And Bluetooth Beacon Market Revenue and Value Chain 2016-2026 FMI | Page 3

Report
Description
Report Description
Nowadays, the world is going through the third industrial revolution i.e. the smart infrastructure
development built around the Internet of Things (IoT). Continuous technology advancement is a
key factor for the revolution of the global stores and business sectors. Over the last decade,
various technological advancements in the electronics and information technology have
occurred rapidly resulting in the development of the global iBeacon and Bluetooth beacon
market. iBeacon is a protocol which was originally developed by Apple Inc. Since then, other
vendors also have made iBeacon-compatible hardware transmitters known as beacon. The
technology enables tablets, smartphones and other devices to carry out activities such as to
send or distribute messages and approximate location determination when there is nearness to
an iBeacon. Both software and hardware components are involved in iBeacon technology.
iBeacon is compatible with OS 7, iPod touch (5th generation) or later, iPad mini or later and iPad
(3rd generation), iPhone 4s or later or later devices. Also, with Android 4.3+, Macintosh
computers (OS X Mavericks 10.9 and Bluetooth) 4.0 and Windows Phone devices (Lumia Cyan
update or above). Various applications offered by iBeacon and Bluetooth beacon include alert or
push notification sending to iBeacon enabled device, whenever the iBeacon user is around a
iBeacon-enabled retail shop (special offers), museum (sporting event/closest display), bus stop
and other locations.Travel industries are undergoing through major deployments of beacon
technology in airports and hotels. The iBeacons and Bluetooth beacons are intensively used in
smartphones. Thus, the global iBeacon and Bluetooth beacon market is anticipated to witness
significant CAGR during the forecast period.