Bluetooth Smart & Smart Ready Market Analysis By Technology, By Application, By Region And Segment Forecasts From 2017 To 2025

Industry Insights

The global Bluetooth Smart and the smart ready market size were valued at USD 4.27 billion in 2016.  It is also anticipated to gain significant growth during the forecasted years, 2017 to 2025. This growth can be attributed to rising demand for a variety of wireless applications which reduces the usage of wires and help in improving device efficiency.

The Special Interest Group (SIG) has set up certain standards for Bluetooth usage thereby creating a 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 to market growth. However, various initiatives undertaken by the key players like enhanced Internet Protocol speed, privacy, and connectivity are anticipated to tackle these restrictions.

Application Insights

The application segment of consumer electronics held the largest share of around 30% across the global Bluetooth smart and smart ready market. This growth can be attributed to the surging demand for tablets and smartphones coupled with the rising trend of digitalization across countries like China, India, and Brazil.

The segment of retail and location-based services registered a CAGR of around 28% during the forecasted period.  This growth can be attributed to the rising influence of BT-enabled devices like iBeacons or Bluetooth beacons. As these products are equipped with BLE technology, they can share the location information on tablets or smartphones, thereby driving the growth for services like mobile wallets, and mobile couponing.  Moreover, their applications in indoor navigation, in-store analytics, contactless payments, and proximity marketing are gaining traction across the globe, thereby driving market growth.

Technology Insights

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 the growing industry of consumer electronics coupled with the 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, the 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.

Regional Insights

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 the 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 the rising influence of tablets, smartphones, and smart devices among the millennial population across countries like China and India.

The market across Europe and North America is anticipated to register slow and steady growth as compared to that of Asia Pacific. In Europe, Germany is projected to register the fastest growth in the Bluetooth smart & smart ready market. U.S., Japan, and Germany are the major manufacturing centers for such devices across the globe.

Competitive Insights

The key players in this market are Qualcomm Technologies, Inc.; Murata Manufacturing Co., Ltd.; Dialog Semiconductor; Broadcom, and CEVA, Inc. They are constantly engaged in product development and innovation to gain a competitive advantage over the rest of the players.

The Cypress Semiconductor Corp. had gained acquisition over the IoT business of Broadcom in 2016 to cater to the rising demand of IoT devices among consumers. In addition, in November 2016, Dialog Semiconductor invested in Energous Corporation to enhance the usage of wireless technology across the globe.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global Bluetooth smart and smart ready market report based on technology, application, and region:

• Technology Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
    • Bluetooth Smart
    • Bluetooth Smart Ready

• Application Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
    • Automotive & Transportation
    • Consumer Electronics
    • Home Automation
    • Medical & Health
    • Retail & Location-Based Services
    • Wearables

• Regional Outlook (Volume, Million Units; Revenue, USD Million; 2014 - 2025)
    • North America
        • U.S.
        • Canada
    • Europe
        • Germany
        • U.K.
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa (MEA)