The BLE Beacon market is characterized by the presence of many global, regional, and local players. The market is competitive, with all the players competing to gain maximum market share. The increasing investments in proximity marketing, the growing adoption of BLE beacons in the healthcare industry, and the wide use of beacons in retail are key factors that drive the market growth. Growing concerns regarding privacy and security restraint the growth of BLE Beacon market. However, the rise in smart cities and the adoption of smart beacons in logistics and transportation will create opportunity for the market’s growth. Moreover, achieving compliance for devices with various hardware specifications will be a challenging factor for the growth of the market.
According to Wantstats analysis, the growth of the BLE Beacon market is dependent on market conditions. The key vendors in the market are Zebra Technologies Corp., Estimote, Inc., Aruba, Kontakt.io, Inpixon, Chengdu Jaalee Technology Co., Ltd, Teltonika, IOBOT TECHNOLOGIES (THINGSUP), Sensoro Co., Ltd, Leantegra, KKM Company Limited, Gimbal, ELA Innovation SA, Asahi Kasei Corporation, Nordic Semiconductor, Semiconductor Component Industries, LLC (OnSemi), HID Global Corporation, Infsoft Gmbh, MOKOSmart, and ALE International.
These companies are focusing on enhancing their products with the integration of improved technologies. Moreover, these companies are prominent providers of BLE Beacon and compete in the BLE Beacon market to increase their geographic presence, expand their customer base, and form strategic partnerships.
The top 5 players in the BLE Beacon market are Zebra Technologies, Aruba Networks (HPE), HID Global, Teltonika, and Kontakt.io.
To achieve attractive and sustainable profitable growth, Zebra Technologies Corp. is focusing on entering lucrative markets, including existing and new ones. The company plans to gain traction in these markets through organic and inorganic investments, including highly selective acquisitions. It has recently completed acquisitions of Temptime Corporation, a temperature monitoring solutions provider, in early 2019, to enhance the supplies business and gain a competitive advantage in healthcare through a time-temperature monitoring product portfolio. Moreover, the company constantly reviews and refreshes its product portfolio to offer its partners and customers state-of-the-art services and a technologically advanced product range.
Aruba (HP) has adopted an organic growth approach that focuses on technological innovation, which is critical for maintaining its position in the global market. It strategizes to leverage its existing portfolio of products and services in its segment to meet the demands of a constantly evolving technological landscape.
HID Global Corporation is focused on growth through innovation and improvement of the products and solutions that it offers. The company works closely with governments and its innovation partners in order to create and develop secure digital identity products and solutions to fulfill the growing needs of the automated border control market. The company has a wide consumer base, offering its products and solutions in over 100 countries.
Teltonika focused on research and development activities in order to increase its brand image. The company also invests in increasing its manufacturing capabilities in order to increase profitability. Additionally, the company consists of a team of professionals from diverse backgrounds enabling them to develop products according to the market demand.
Kontakt.io focused on continuously enhancing and developing its product range, the company also focused on new technological advancement in its existing product portfolio. Moreover, the company aims to provide its client with safe delightful and useful indoor experience and make building and people work together.
Threat of New Entrants
There are many existing manufacturers offering affordable products to end users. Additionally, numerous local manufacturers spread across Asia-Pacific offer low-cost products. BLE beacons are manufactured to suit various applications, such as retail, healthcare, manufacturing, media & entertainment, travel & tourism, education, and others. The capital required is moderate as the cost of manufacturing BLE beacons is low. BLE beacon manufacturing involves moderate R&D investment to eliminate the failure of products. This makes the entry of new players into the BLE beacon market high. Hence, the threat of new entrants in the global BLE beacon market is expected to be high.
Bargaining Power of Suppliers
There is a moderate supplier concentration in the market due to the several local and international suppliers in the global BLE beacon market. They offer products to end users at competitive prices. Moreover, these suppliers provide raw materials with limited material differentiation; they abide by the standardization regulations laid down by government authorities, thereby creating a moderate impact on the market. Moreover, owing to the rising demand for BLE Beacon by the end-use industry, the suppliers compete by providing reliable and scalable electronic components. Furthermore, the cost of switching suppliers/manufacturers is low. Hence, the bargaining power of suppliers is expected to moderate.
Threat of Substitutes
The availability of close substitutes is expected to be medium in the global BLE beacon market. Products such as RFID act as an alternative to a BLE beacon. The electronic and semiconductor industry is widely established owing to the presence of many OEMs and component suppliers. Since there exist several opportunities in the sensor market, it is improbable that any other fast-emerging technology would substitute these BLE beacon in the near future. Thus, the threat of substitutes in the global BLE beacon market is expected to remain moderate throughout the forecast period.
Bargaining Power of Buyers
There are several players in the global BLE beacon market. This gives the buyers numerous options for choosing products based on factors like type, features, end-use, and price. Furthermore, buyers usually do not have control over the cost of the product. Although buyers drive the market, they are dependent on the already established brands and firms. However, the buyers dictate the specification and type of product required. Therefore the buyer concentration is high. Furthermore, the impact of brand identity in the global BLE beacon market is moderate. The switching cost for buyers will be comparatively low as the buyers can choose from many suppliers. Thus, the bargaining power of buyers is moderate.
Intensity of Rivalry
Numerous players, such as Estimote, Inc., Accent Advanced Systems, S.L.U., MOKOSmart, Zebra Technologies Corp., Kartographers Technologies Pvt. Ltd., Radius Networks, Inc., and Kontakt.io, among others, develop high-quality BLE beacons for efficient operations. The global BLE beacon market is expected to grow significantly with technological innovation and the end-use verticals favoring the manufacturers who offer advanced technology. Furthermore, key players such as Zebra Technologies, Aruba Networks (HPE), HID Global, Teltonika, and Kontakt.io lead in the global BLE beacon market. These players are investing substantially in the BLE beacon market. Such factors make the intensity of rivalry in the global BLE beacon market high.
