"Every advertiser has an understanding of where consumers are located through their devices translated as specific GPS coordinates,” says Jim Kovach, vice president of business development at CrowdOptic, an augmented reality technology firm that has worked with L’Oreal, Sony and IMG.
BLUETOOTH Pings have been generating buzz since 2013, when Apple first introduced the technology. And while it may have appeared for a time that this new way of connecting with customers might be slow to catch on, today it’s catching fire. This year began with BI Intelligence reporting that the devices would be driving billion in retail sales by 2016, up from billion this year. Then last month came the big news that Apple and IBM have teamed up on a host of new apps incorporating analytics. And just last week, Ad Age reported on the impending reinvention of retail by digital technology, as the physical and digital worlds converge in stores.
These are enough to guess the market size for Pings in the years to come.
According to a Business Insider Report, the Pingers installed base will see a five-year compound annual growth rate (CAGR) of 287%. There will be about million active Pingers overall by year end 2018, with million of these in use by retailers. Also, the Pingers installed base should continue to double every six months through 2016.