According to the new market research
report "Bluetooth
Smart and Smart Ready Market by Technology (Bluetooth Smart, Smart Ready,
and Bluetooth 5.0), Application (Automotive, Consumer Electronics, Wearable
Electronics, Healthcare, Building & Retail), and Geography - Global
Forecast to 2023", the
Bluetooth Smart and Smart Ready market, in terms of value, is expected to be
worth USD 5.34 Billion by 2023, growing at a CAGR of 2.23% between 2017 and
2023. Factors driving the growth of this market include rising demand for
Bluetooth Smart and Smart Ready in consumer electronics such as smartphones and
PC peripherals, growing IoT applications, and cost-efficient devices that
consume low power.
Consumer electronics was the largest
application segment in terms of volume in 2016
Consumer
electronics is the biggest market for the Bluetooth technology with a multitude
of Bluetooth Smart Ready devices. Different technologies, such as ZigBee,
Wi-Fi, NFC, ANT+, and Bluetooth, are used by consumers to connect their
devices, such as smartphones, tablets, and desktops. Among these technologies,
BLE is the most widely used technology that consumers use every day as it is
simple and secure, and has low power consumption. Thus, the demand to maintain
high efficiency of the electronic devices is expected to fuel the growth of the
Bluetooth Smart and Smart Ready market.
The market for Bluetooth 5.0 expected to
grow at highest CAGR during forecast period
Bluetooth
5 will enhance IoT application with extra features that better enable
industrial automation and smart home coverage by improvements in range and download
speeds, resulting in more responsiveness and high performance of devices. With
focus on IoT, the features include four times extra range, twice the speed, and
eight times more broadcast messaging capacity. Bluetooth 5.0 will also drive
the market for beacons in the retail sector as it helps retailers of apparels
and supermarkets to achieve targeted advertising.
The market in APAC expected to grow at
highest CAGR during forecast period
North
America is expected to hold the largest share of the Bluetooth Smart and Smart
Ready market by 2023, and it holds a tremendous potential for the market in the
coming future owing to its large number of smartphone, tablet, and desktop
users. This also indicates that APAC consists of maximum number of apps and
users. The market for smartphones and its appcessories is expected to continue
to grow in APAC; thus, the market for the BLE technology also continues to
expand. APAC consists of some of the leading markets such as China, Japan, and
India.
Major
players in this market include Qualcomm Inc. (US), Broadcom Corporation
(Singapore), Cypress Semiconductor Corporation (US), Dialog Semiconductor PLC
(UK), Marvell Technology Group, Ltd. (Bermuda), Mediatek, Inc. (Taiwan), Nordic
Semiconductor ASA (Norway), Bluegiga Technologies (Finland), Texas Instruments
Incorporated (US), Fanstel Corporation (US), Toshiba Corporation (Japan),
Murata Manufacturing Co., Ltd. (Japan), Renesas Electronics Corporation
(Japan), Microchip Technology Inc. (US), and CEVA, Inc. (US).
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Amazing write-up!, Your Blog is informative, You can read detailed report of Industrial Bluetooth Market.
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