The global Bluetooth Smart & Smart Ready Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global bluetooth smart & smart ready market is anticipated to attain the revenue of USD 39.3 billion by the end of 2025. This growth can be associated with rising usage of smart products and appliances coupled with advances being made in the Bluetooth Technology. In addition, rising number of new entrants across this industry is expected to drive the competition among the local and global competitors.
Key Players:
- Broadcom
- Cypress Semiconductor Corporation
- CEVA
- Dialog Semiconductor
- Marvell Technology Group Ltd.
- Microchip Technology Inc.
- Murata Manufacturing Co., Ltd.
- Nordic Semiconductor ASA
- Qualcomm Technologies, Inc.
- Texas Instruments Incorporated
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Growth Drivers:
The Special Interest Group (SIG) has set up certain standards for Bluetooth usage thereby creating high demand for a variety of products having Bluetooth Low Energy (BLE) technology. As these products establish connectivity among PCs, tablets, and smartphones, their demand is expected to surge up in the upcoming years thereby fueling up the market demand.
The technology of BLE is evolving continuously and has been able to achieve low power consumption among these devices. Thus, such advances in technology are anticipated to drive the demand for lighting, home automation, building automation, beacons, and retail industries across the globe.
Other factors like data leakage, privacy concerns, and low data streaming ability are expected to act as a hindrance in market growth. However, various initiatives undertaken by the key players like enhanced Internet Protocol speed, privacy, and connectivity are anticipated to tackle these restrictions.
Technology Outlook:
- Bluetooth Smart
- Bluetooth Smart Ready
The segment of Bluetooth smart is expected to witness the fastest growth with a CAGR of more than 30% during the forecasted period. This growth can be associated with growing industry of consumer electronics coupled with rising preference for wireless connectivity being prevalent among the millennial population.
The segment of Bluetooth smart ready held the largest share owing to their feature of connecting with BLE as well as classic Bluetooth appliances. Moreover, rising demand for electronic devices and products that require tablets and smartphones for monitoring is expected to drive the market growth for such products in the upcoming years.
Application Outlook:
- Automotive & Transportation
- Consumer Electronics
- Home Automation
- Medical & Health
- Retail & Location-Based Services
- Wearables
Regional Outlook:
North America held the largest share across the global market in 2016. This growth can be attributed to the increasing product range that can be interconnected with other devices via rising usage of IoT and internet is expected to drive the market growth in the upcoming years. Asia Pacific is also expected to register significant growth from 2017 to 2025 and generate revenue of around USD 12 Billion until 2025. This can be associated with rising influence of tablets, smartphones, and smart devices among the millennial population across countries like China and India.
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