“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 expected to grow from USD 5.45 Billion in 2017 to USD 6.29 Billion by 2025 at a CAGR of 3.1% during the forecast period from 2018-2025. Major drivers that fuel the growth of Bluetooth smart & smart Ready market are:
- Increasing investments in IoT technology
- The rise in the applications of smart wireless sensors
- Cost-efficiency with less power consumption
- Growth of wearable devices and appcessories across the globe
The Bluetooth technology is wireless networking technology that connects the devices that have Bluetooth connectivity to interact with one another. The wireless sensors are embedded in most of the electronic devices that enable the device interaction. Hence the increasing number of these devices has increased the use of the smart wireless sensor for the connectivity. These devices are known as smart ready device that provides an easy way to connect with another device within a few meters of range. The Bluetooth smart & smart ready help in providing home automation, lighting, beacons, retail, building automation, and location services. This technology is less costly and users do not need to pay any additional cost as well as low power is required for using the service.
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Increasing investments in the IoT technology and rise in the applications of smart wireless sensors to drive Bluetooth smart & smart ready market:
Increasing investments in the IoT technology, rise in the applications of smart wireless sensors, and cost-efficiency with less power consumption are the key driving factors for the Bluetooth smart & smart ready market. In addition, growth of wearable devices and appcessories across the globe will lead to the growth of Bluetooth smart & smart ready market in a couple of years. Low data streaming capacity may limit the growth of the market. However, faster IP connectivity with improved privacy in various industries is expected to boost the Bluetooth smart & smart ready market over the forecast period.
The global Bluetooth smart & smart ready market is segmented on the basis of technology, application, and regions.
Bluetooth 5.0 segment is anticipated to grow with the highest CAGR of 5.45% over the forecast period
Technology segment includes Bluetooth Smart, Bluetooth Smart Ready, and Bluetooth 5.0. Bluetooth 5.0 segment is anticipated to grow with the highest CAGR over the forecast period. The contributing factors such as rise in the applications of smart wireless sensors and growth of wearable devices and appcessories to drive the demand of Bluetooth 5.0 segment.
Consumer electronics contributed a major value of USD 2.77 Billion in 2017
Application segment is divided into consumer electronics, automotive, healthcare, appcessories, building & retail, wearable electronics, and industrial measurement & diagnostics. The consumer electronics segment contributes a major share in the growth of the market due to new technologies such as ZigBee, Wi-Fi, NFC, ANT+, and Bluetooth which are being used to connect smartphones, tablets, and desktops.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and the Middle East and Africa. The Asia Pacific held the largest market share of approximately 28.46% in 2017. The increasing number of the smartphone, tablet, and desktop users is the major factor that led to the growth of Bluetooth smart & smart ready market in this region.
The major players of 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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