A beacon is an intentionally conspicuous device designed to attract attention to a specific location. Beacons can also be combined with semaphoric or other indicators to provide important information, such as the status of an airport, by the colour and rotational pattern of its airport beacon or of pending weather as indicated on a weather beacon mounted at the top of a tall building or similar site. When used in such fashion, beacons can be considered a form of optical telegraphy.
Global Beacon Technology Market is expected to touch USD 25 billion by 2024. The growth in the market is due to increasing penetration of smartphones around the world and need for location-based proximity marketing solutions to improve customer experience.