Global Beacon Management Software Market 2017-2021

Overview of the global beacon management software market

Technavio’s market research analyst predicts the global beacon management software market to grow steadily at a CAGR of above 9% by 2021. One of the primary drivers for this market is the rapidly growing demand for beacon management software in the retail sector. The various formats of the organized retail include hypermarkets, supermarkets, department stores, discounters, specialty stores, and cash and carry stores. These formats are classified based on the size of the stores. The retail sector is the primary end-user of Bluetooth beacons. This sector deploys beacons for several applications such as in-store analytics, proximity marketing, indoor navigation, and contactless payments. For instance, a beacon can send a text message to a customer about a discount on the product that he/she intends to purchase. The consumer can buy the product immediately through an online account. Beacons deliver authentic wireless interactions and cost-effective solutions for retailers. These advantages of beacons in the retail sector are expected to propel growth in the global beacon management software market during the forecast period.

One of the latest trends gaining traction in this market is the emergence of multi-product approach among established beacon manufacturers. The manufacturers are developing software applications for beacons and manufacturing beacon devices. For instance, Estimote is developing mobile software applications for the iOS and Android platforms. Moreover, most businesses are investing and developing their own beacon-based applications instead of opting for a third-party developer. This eliminates privacy risks and helps in holding data ownership. This rise in the adoption of multi-product approach among leading beacon manufacturers is expected to drive the global beacon management software market in the coming years.

Competitive landscape and key vendors