Terms like Ibeacon and Beacon are often use today, Ibeacon is a Product of Apple or one can say Apple’s technology Standard for Beacon , these are made on Bluetooth Low Energy. Ibeacon are mainly used for Mobile Devices like Iphone or iPad where the device would receive signals from beacons and act accordingly. Apple uses this technology for mobile apps to know their Position in a area and deliver Hyper contextual Content to the user based on its location.
As per Apples Ibeacon standard optimal broadcast interval of 100ms and rage no greater than 100 meters. Due to this properties it is very useful for Indoor Applications like Indoor location Tracking.