iBeacon is an indoor proximity system trademarked by Apple. It is a technology that enables an iOS device or other hardware to send push notifications to other iOS devices in close proximity.

iBeacon devices have a built-in Bluetooth 4.0 chip called a BLE (Bluetooth low energy) that runs for up to two years on a single, included battery. The device often has a soft silicon covering, and the back side of the beacon is usually sticky so it can be affixed to flat surfaces. The notification range of an iBeacon can be as far as 200-feet.

Apple terms, Hardware, IOS, Push notification

Android devices may receive iBeacon notifications, but cannot broadcast them.