Bluetooth Smart & Smart Ready Market to Grow at a CAGR over 3.1% through 2025
Researchstore.biz released a comprehensive market report on “Global Bluetooth Smart & Smart Ready Market by Technology (Bluetooth Smart, Bluetooth Smart Ready, Bluetooth 5.0), Application (Consumer Electronics, Automotive, Healthcare, Appcessories, Building & Retail, Wearable Electronics, and Industrial Measurement & Diagnostics), Region (North America, Europe, Asia Pacific, South America and Middle East and Africa)” and Global Forecast 2018-2025.
The global Bluetooth smart & smart ready market is anticipated to hit a CAGR of 3.1% during the forecast period from 2018-2025 and reach USD 6.29 Billion by 2025 from USD 5.45 Billion in 2017. Growing investments in the IoT technology, increase in the applications of smart wireless sensors, cost-efficiency with less power utilization, and demand for wearable devices and appcessories across the globe are some of the major drivers increasing the growth of Bluetooth smart & smart ready market.
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The Bluetooth technology is one type of wireless networking technology that enables connectivity in multiple devices that supports Bluetooth connectivity. The wireless sensors embedded in most of the electronic devices allows devices to interact with one another. The increasing number of these devices is the key factor behind the growing use of the smart wireless sensor for the connectivity. These devices are also called as a smart ready device. The process of establishing the connection is very easy. The range of these Bluetooth devices is limited to a few meters of range. home automation, lighting, beacons, retail, building automation, and location services are some of the applications of the Bluetooth smart & smart ready. The benefits of using this technology are:
- It is less costly
- Eliminates need of any additional cost
- Requires low power
- Key Highlights of the
Growing investments in the IoT technology and an increase in the applications of smart wireless sensors are driving the Bluetooth smart & smart ready market. Key drivers handling the Bluetooth smart & smart ready market growth include increasing investments in the IoT technology, growth in the applications of smart wireless sensors, cost-efficiency, and less power utilization. Moreover, demand and growth of wearable devices and appcessories across the world is estimated to lead the growth of Bluetooth smart & smart ready market in a couple of years, while low data streaming capacity could become the restraining factor for the market growth. Faster IP connectivity with advanced privacy will enhance the Bluetooth smart & smart ready market through the forecast period.
Market Analysis By Major Segmentation:
The global Bluetooth smart & smart ready market is segmented on the basis of technology, application, and regions. Consumer electronics held a major value of USD 2.77 Billion in 2017. Application segment is sub-segmented into consumer electronics, automotive, healthcare, appcessories, building & retail, wearable electronics, and industrial measurement & diagnostics. The development and prevalence of new technologies such as, ZigBee, Wi-Fi, NFC, ANT+, and Bluetooth which are being used to connect smartphones, tablets, and desktops, has now increased. For this, the consumer electronics segment contributes a major share in the growth of the market.
Regional Segmentation Assessment:
The section covers market analysis considering five key regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific contributed the largest market share of approximately 28.46% in 2017. In addition, the growing number of the smartphone, tablet, and desktop users majorly supported the growth of Bluetooth smart & smart ready market in this region.
Key market players in the Bluetooth smart & smart ready market include Marvell Technology Group Ltd., Dialog Semiconductor, Texas Instruments Incorporated, Qualcomm Technologies, Inc., Nordic Semiconductor ASA, Murata Manufacturing Co., Ltd., Microchip Technology Inc., Cypress Semiconductor Corporation, CEVA, Inc., Broadcom, Marvell Technology Group Ltd., Bluegiga Technologies, Toshiba Corporation, Ceva, Inc., Fanstel Corporation, Revogi Innovation Co., Ltd., Renesas Electronics Corporation, Mediatek Inc., Virscient Limited, Laird PLC, and Afero, Inc.
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