Beacon Market Size

Global Beacon Market size was valued at USD 9.1 billion in 2023 and is poised to grow from USD 13.62 billion in 2024 to USD 343.59 billion by 2032, growing at a CAGR of 49.7% during the forecast period (2025-2032).

Technical advancements in Bluetooth Low Energy (BLE) are a key growth driver for the global beacon market. BLE beacons provide accurate, real-time location positioning, allowing companies to engage with customers based on their location. These advancements have increased the efficiency of beacon technology, thereby lowered power consumption and increased battery life, making it necessary for long-term, low-cost deployments. As BLE technology advances, more beacon solutions become cheaper and more viable for businesses from different industries, including retail, healthcare, and tourism, to implement these systems for customized services, enhancing operational efficiency and customer experience. This leads to more extensive market adoption and continued growth.

The increasing interest in proximity marketing is one key trend driving the global beacons sector. Proximity marketing allows organizations to send consumers location-based promotions directly to their smartphones as they navigate through set locations, i.e., department stores, malls, or airports. This approach to targeted marketing assists organizations to enhance customer interactions, boost sales, and optimize the shopping experience. As customers increasingly demand personalized interactions, the importance of proximity marketing becomes more evident. Companies are investing in beacon technology to improve their marketing efforts, driving a wave of beacon installations and propelling the growth of the global beacon market.

What Role does AI Play in Personalizing Customer Experiences Through Beacon Technology?

Artificial intelligence is influencing the global beacon market strategies indirectly by making the features of beacon-based solutions even stronger. With the progression of AI technologies, they make the processing of data from beacon devices smarter so that companies can understand consumer behavior and location trends in real time. This results in more effective and targeted proximity marketing campaigns. For example, analytics powered by AI can streamline where and when offers should be pushed to customers, using historical activity and movement patterns. AI further increases beacon systems' learning capacity and ability to adapt to customer preferences, giving rise to an even more responsive and dynamic system, driving yet more adoption within retail and healthcare industries.

In April 2024, New York-based provider Kontakt.io, which focuses on Bluetooth Low Energy (BLE) beacons and Real-Time Location Systems (RTLS), raised a $47.5 million Series C led by Goldman Sachs Asset Management. The capital is intended to further their AI-powered indoor navigation, asset tracking, and patient flow solutions for healthcare environments.