According to the “Global Proximity Marketing Market Forecast 2025”, the adoption of proximity Marketing is becoming prolific with leading key players like Google Inc., Apple Inc., Microsoft Corporation and Qualcomm Inc. The Market is expected to grow at a CAGR of +30% and surpass USD 25 billion by 2025.
The latest technological advancements in Bluetooth technology like Bluetooth 5 and Bluetooth mesh are expected to fuel the growth of this market globally. Moreover, a noticeable increase in the number of companies investing in the proximity marketing space is expected to increase competitive rivalry.
The Bluetooth Smart is growing as a leading technology for health tracking devices globally. The global Bluetooth smart market is expected to reach $39.3 billion by 2025.
Owing to the growing demand for the connected car technology, automotive segment is expected to account for approximately 12% of the total revenue of Bluetooth market share by 2025.
Proxbook reports that more than 19 industry verticals have invested in proximity marketing technologies. The top five are retail, malls, hotels, stadiums, and airports. Retail industry is witnessing the fastest adoption. 3.6 million of the 4.5 million beacons estimated to be active by 2018, will be slated by the retail industry.