According to Cognitive Market Research, the global Smart Beacon market size will be USD 7351.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 33.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 2940.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 31.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 2205.36 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 1690.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 35.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 367.55 million in 2024 and will grow at a compound annual growth rate (CAGR) of 32.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 147.02 million in 2024 and will grow at a compound annual growth rate (CAGR) of 33.2% from 2024 to 2031.
The iBeacon category is the fastest growing segment of the Smart Beacon industry
