As a basic definition, beacons are Bluetooth-enabled devices that communicate with nearby Bluetooth-enabled smartphones. Once beacons are installed, they can detect compatible devices and send them messages and notifications.
“iBeacons” are simply Apple’s trademarked name for these devices. They were included with the iOS7 update in 2013, but not many companies utilized the new technology. That means if your business operates in a physical location with a B2C model, you could be one of the first to make use of this cutting-edge technology.