Market Scenario:
The global Bluetooth Smart and Smart Ready Market is expected to grow at USD$ 5.07 Billion by 2023, at 3.1% of CAGR between 2017 and 2023.
Bluetooth Smart is a revolutionary concept in the entire mobile connectivity industry. The central idea behind this technology is that it connects Bluetooth enabled devices to interact with each other. Currently, wireless sensors are embedded in most of the electronic gadgets and consumer wearable products. These wireless sensors interact with each other using suitable connecting technology such as Bluetooth. Bluetooth technology also offers developers a powerful, secure, low-power and low-cost wireless communications specification. Bluetooth sensors is collecting and wirelessly sharing data with applications stored directly on Bluetooth compatible devices or in the cloud. Thus, growth of smart wireless sensors is one of the major driving factors for the growth of Bluetooth Smart and Smart Ready Market.
The study indicates that the Smart and Smart Ready devices is acting in either central or peripheral roles is driving factor for the demand of Smart and Smart Ready devices. The study signifies that the Bluetooth 5 will enhance IoT application with the features that enables to transfer data up to 2.5 times faster than previous versions. The reducing transmission errors and battery consumption is also expected to drive the market by the end of the forecasted period.
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Bluetooth Smart and Smart Ready Market Segmentation:
The Bluetooth Smart and Smart Ready Market has been segmented on the basis of devices, technology, end -users and region. Looking through the end-user segment it has been observed that automotive and consumer electronics sector is showing a rapid growth in Bluetooth Smart and Smart Ready market and holds the largest market share as Bluetooth smart technology enables new use cases in the car by reducing weight, improving fuel economy, and lowering manufacturing costs. Whereas, the other sectors like retail and commercial sector is the first to envision a future for everything from in-store analytics to proximity marketing, indoor navigation and contactless payments.
The prominent players in the Bluetooth Smart and Smart Ready market – Broadcom Corporation (Singapore), Fanstel Corporation (US), Toshiba Corporation (Japan), Murata Manufacturing (Japan), Texas Instruments Incorporated (US), Renesas Electronics Corporation (Japan), Microchip Technology Inc. (US), CEVA, Inc. (US), Qualcomm Incorporated (US), Cypress Semiconductor Corporation (US), Mediatek, Inc. (Taiwan), Bluegiga Technologies (Finland), Dialog Semiconductor PLC (UK), Marvell Technology Group, Ltd. (Bermuda), and Nordic Semiconductor ASA (Norway), among others.
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Market Research Analysis:On geographic basis, Bluetooth Smart and Smart Ready market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with highest market share growth in the Bluetooth Smart and Smart Ready market. Over two million people in North America region is using Bluetooth Smart Ready technology. Europe region has a positive growth in the Bluetooth Smart and Smart Ready market due to its wireless connection to authenticate and manage interactions. APAC carries the maximum number of apps and users. The market for smartphones and its accessories along with Bluetooth smart devices is favoring the growth in this region.
Intended Audience
- Automotive manufacturers
- Small and large health centers
- Research organizations
- Distributors, resellers, and traders
- Semiconductor product designers
- Technology investors
- Research institutes,
- System Integrators
- Bluetooth Smart and Smart Ready forums, alliances, and associations
- Technology investors
- Research/Consultancy firms
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