Smart Lighting Market worth $30.6 billion by 2025

The report "Smart Lighting Market by Offering (Hardware: Lights & Luminaires, Lighting Controls; Software, and Services), Communication Technology (Wired and Wireless), Installation Type, End-use Application, and Geography - Global Forecast to 2025", is estimated to grow from USD 13.4 billion in 2020 and projected to reach USD 30.6 billion by 2025, at a CAGR of 18.0%. The major factors driving the growth of the smart lighting market include the advent of integrated lighting control systems, upcoming smart city projects in developing economies, increasing adoption and decreasing cost of LEDs, integration of lighting solutions with smart devices, and growing awareness about energy savings among consumers and governments worldwide.

“Smart lighting market for services to grow at highest CAGR between 2020 and 2025”

Services play a major role before and after the installation of smart lighting systems. The services segment comprises pre-installation and post-installation services. The market for services is expected to grow at the highest CAGR during the forecast period, mainly driven by the rising adoption of smart lighting solutions and the use of lighting services to reduce energy cost and achieve energy conservation and ecological safety. The growth of the market for services is also ascribed to a high demand for engineering, consulting, and analytical services pertaining to smart lighting among end users.

Europe to hold major larger share of smart lighting market for indoor-end use application during forecast period

Europe held the largest share of the smart lighting market for indoor end-use application in 2019. This large share is attributed to the growing consumer awareness about smart lighting and adoption of energy-efficient products being offered in the smart lighting market. However, the high implementation cost of these solutions is one of the major factors inhibiting the growth of the market in the residential segment.

“APAC to hold largest share of smart lighting market by 2025”

The smart lighting market in APAC is expected to grow at the highest CAGR during the forecast period. This growth is attributed to rapid infrastructure building activities being undertaken in APAC, mainly in China and India, where smart lighting paves the way for the modernization of infrastructure. The modernization and development of infrastructure such as smart cities across the region, coupled with government policies to support energy-efficient lighting, would also drive the demand for smart street lights, thereby driving the market for smart lighting in this region.

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Some of the major players in the smart lighting market are Signify (Philips Lighting) (Netherlands), Legrand S.A. (France), Acuity Brands, Inc. (US), Eaton Corporation (Ireland), General Electric Company (US), and OSRAM Licht (Germany), Lutron Electronics (US), Zumtobel Group (Austria), Honeywell International Inc. (US), Hubbell Incorporated (US), and Leviton Manufacturing Company, Inc. (US). Other players operating in the smart lighting market include Dialight PLC (UK), Helvar (Finland), Ideal Industries, Inc. (Cree Lighting) (US), Adesto Technologies (Echelon Corporation) (US), Panasonic (Japan), LightwaveRF PLC (UK), RAB Lighting (US), Synapse Wireless (US), Syska LED (India), Wipro Enterprise Ltd (India), LG Electronics (South Korea), ABB (Switzerland), and Enlighted Inc (a Siemens company) (US).

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Camera Modules Market worth $44.6 billion by 2025

According to the research report the "Camera Modules Market by Component (Image Sensors, Lens Modules, Voice Coil Motors), Focus Type (Fixed, Auto), Interface, Pixel, Process, Application (Consumer Electronics, Automotive, Security & Surveillance), and Region - Global Forecast to 2025", The global camera modules market size is projected to grow from USD 31.5 billion in 2020 to USD 44.6 billion by 2025; it is expected to record a compound annual growth rate (CAGR) of 7.2%. Increasing trends of multiple camera-based smartphones, rising public safety and security concerns led to the adoption of surveillance, technological advancements in components of camera modules for its integration in devices, and rising demand for ToF cameras in smartphones are driving factors of the market. Government initiatives to increase vehicle safety is leading to the adoption of ADAS, the emergence of autonomous vehicles, and growing applications of AR and VR devices are the factors providing an opportunity for market growth.

Image sensors to lead camera modules market during forecast period (2020–2025)

The image sensor is expected to hold the largest share of the camera modules market. This is mainly because of the increased usage of image sensors in smartphones and vehicles due to the rise in demand for good image quality in smartphones and the requirement of safety features in vehicles. Apart from consumer electronics and automotive applications, other applications such as security & surveillance, healthcare, and industrial create an opportunity for the image sensor market.

Consumer electronics application to account largest size of camera modules market by 2025

Wide use of cameras for imaging applications in consumer electronics such as smartphones, tablet PC, cameras, and wearables resulted in significant growth of camera modules in consumer electronics applications. Smartphone is the major product among consumer electronics products to contribute significantly towards the growth of camera modules. Demand for better image quality from smartphones by consumers has led to the adoption of multiple cameras and higher resolution cameras by smartphone OEMs, which in turn assisted consumer electronics application to gain a larger share in the camera modules market. Consumer electronics application is expected to hold the largest market share throughout the forecast period.

Asia Pacific to exhibit largest market share for camera modules through forecast period

Factors such as the; presence of leading smartphone OEMs such as Samsung, Oppo, Vivo, and Xiaomi in APAC; rising trends of advanced cameras in consumer devices; increasing adoption of cameras in automotive applications; and rising needs for security & surveillance cameras are major driving factors for the growth of the camera modules market in APAC.

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LG Innotek (South Korea), Sunny Optical Technology (Group) Company Ltd. (China), Sharp Corporation (Japan), Samsung Electro-Mechanics (South Korea), OFILM Tech Co., Ltd. (China), ams (Austria), Chicony Electronics Co., Ltd. (Taiwan), MCNEX Co. Ltd. (South Korea), Primax Electronics Ltd. (Taiwan), Q Technology (Group) Company Ltd. (China), CAMMSYS Corp. (South Korea), Cowell (China), e-con Systems (US), Haesung Optics (South Korea), Jenoptik (Germany), Kyocera Corporation (Japan), Leopard Imaging Inc. (US), Luxvisions Innovation Limited (Taiwan), Partron Co., Ltd. (South Korea), Shenzhen CM Technology Company Ltd. (China), and Truly Opto-Electronics Ltd. (China) are among a few of the key players in the camera modules market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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Integrated Passive Devices Market worth 1,544.9 million USD by 2023

According to the new market research report on the "Integrated Passive Devices Market by Material (Silicon, Glass), Passive Devices, Application (ESD/EMI, RF IPD, Digital & Mixed Signals), Wireless Technology (WLAN, Bluetooth, GPS, Cellular), End Use Industry, and Geography - Global Forecast to 2023", the integrated passive devices (IPD) market is expected to reach USD 1,544.9 million by 2023 from USD 1,011.2 million in 2018, at a CAGR of 8.8% between 2018 and 2023. The growth of the IPD market is driven by factors such as increasing adoption of IPD in consumer durables, integration of IPDs into RF applications, and increasing demand for miniaturized and high-performance electronic devices.

Silicon material to hold a major share of the IPD market by material throughout the forecast period

Silicon accounted for the largest market share in 2017 and will remain same in the coming years. Most players in the IPD market offer silicon-based IPDs. Murata IPDiA (Japan), ON Semiconductor (US), and Stats ChipPAC (Singapore) offer silicon-integrated passive device platforms. These are cost-effective, due to which the use of silicon in IPD is increasing.

Market for filter passive devices to grow at a high rate during the forecast period

A filter is used to eliminate harmonic distortion caused by non-linear loads. Harmonics in power systems result in increased heating of equipment and conductors, and torque pulsations in motors. Filters are used in ESD/EMI, RF IPD, and other applications. Companies such as Murata (Japan), Stats ChipPAC (Singapore), and On Chip Devices (US) are offering different types of filters that integrate various functions required by wireless and consumer applications, such as ESD protection diodes, EMI low pass filters, line terminations, and pull-up or pull-down resistors.

Consumer Electronics held the largest share of the overall IPD market in 2017

The consumer electronics segment deals with electronic devices that are used for entertainment, communications, and enterprises purpose. Consumer electronics include smartphones, notebooks, tablets, and others (wearables, game consoles, and other white goods). Smartphones have been a major driver for the growing market of smart devices. The growth of the smartphones market has proven to be a catalyst for the mainstreaming of the Internet of Things.

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IPD market in Asia Pacific to grow at the highest CAGR during the forecast period

Asia Pacific is expected to offer lucrative opportunities for the IPD market because of the growing base for communication infrastructure, communication devices, and consumer electronics. Asia Pacific is one of the key regions for players dealing with smartphones and wearables. The trend of miniaturization of components of smartphones and wearables will drive the IPD market in this region. This region is expected to witness mass commercialization of 5G by 2020. Huge customer base and need for telecommunication infrastructure will boost the need for IPDs in coming years.

Key players in the IPD market include STATS ChipPAC (Singapore), ON Semiconductor (US), Infineon (Germany), STMicroelectronics (Switzerland), Murata (Japan), Johanson, (US), OnChip Devices, (US), Global Communication Semiconductors, (US), 3DiS (France), and Advanced Furnace Systems (Taiwan).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.

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Industrial 3D Printing Market worth 5.66 Billion USD by 2023

According to the market research report "Industrial 3D Printing Market by Offering (Printers, Materials, Services, Software), Application (Tooling, Heavy Equipment & Machinery, Robotics), Process, Technology, Industry (Aerospace & Defense, Automotive), and Geography - Global Forecast to 2023", the industrial 3D printing market is estimated to grow from USD 1.73 Billion in 2018 to reach USD 5.66 Billion by 2023, at a CAGR of 27.21% between 2018 and 2023. The growth is attributed to the factors such as the evolution of 3D printing from developing prototypes to end-use parts production, ease of developing customized products, developments in existing industrial 3D printing materials market, government investments in 3D printing projects, and improvement in manufacturing efficiency.

Industrial 3D printing market for materials expected to grow at highest CAGR during forecast period

The market for the industrial 3D printing materials is expected to grow at the highest CAGR between 2018 and 2013. Rising demand for metals for printing customized functional parts, mainly across automotive, and aerospace and defense industries, is a key factor fueling the growth of this market. The overall growth of industrial 3D printing material market is also attributed to the increasing demand for biomaterials used in the healthcare industry and certain specialized materials (such as printed electronic materials) in emerging applications. Evolving needs of end-user industries and emerging application areas for 3D printed materials are further expected to increase the consumption of printing materials, which would contribute to the significant CAGR of the market for this offering in the next 5 years.

Industrial 3D printing market for printed electronics expected to grow at highest CAGR during forecast period

The industrial 3D printing technology has been witnessing the increase in deployment across the printed electronics industry. Common electronic materials including conductor, dielectric, resistor, and semiconductor inks can be processed to print sensors, antennae, shielding transistors, solar cells, light-emitting diodes, and other active and passive components. Recently, Optomec, Inc. (US) achieved a breakthrough by introducing 3D printed antenna that can be used in smartphones; this antenna was produced using the aerosol jet technology. The market for the printed electronics industry is expected to grow at a high CAGR as industrial 3D printing provides the opportunity to engineers to develop objects with complex internal structures, which would be difficult to produce using traditional methods

Industrial 3D printing market for laser metal deposition expected to grow at highest CAGR during forecast period

The laser metal deposition technology is used for repairing, cladding, and producing parts. Some of the common applications of this technology include repair of mold tool surfaces and repair and production of machinery parts, and robotics. The benefits of laser metal deposition printing technology include reduction of material wastage, reduced tooling costs, repair of parts that are costly to replace, decreased lead time, and customization of parts according to customers’ requirements.

North America held largest share of industrial 3D printing market in 2017

North America held the largest share of the market in 2017, followed by Europe and APAC. Major industries such as aerospace and defense, and automotive are increasingly using industrial 3D printing technology for tooling, producing  robotics parts such as arms and grippers, and manufacturing machinery parts to maximize functional integration and consistency while minimizing costs.

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Major players in the global industrial 3D printing market include 3D Systems Corporation (US), Stratasys Ltd. (US), EOS GmbH (Germany), Materialise NV (Belgium), The ExOne Company (US),  Voxeljet AG (Germany), EnvisionTEC GmbH (Germany), Arcam AB (Sweden), Concept Laser GmbH (Germany), Optomec Inc. (US), SLM Solutions  Group AG (Germany), GROUPE GORGÉ  (France), Renishaw plc (UK), Koninklijke DSM N.V. (Netherlands), Höganäs AB (Sweden), ARC Group Worldwide, Inc. (US), Markforged, Inc. (US), Cookson Precious Metals Ltd. (UK), and Sculpteo (France).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

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Suite 430

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USA: 1-888-600-6441

newsletter@marketsandmarkets.com

Infrared Imaging Market worth $8.4 billion by 2025

The report "Infrared Imaging Market by Technology (Cooled Infrared Imaging and Uncooled Infrared Imaging), Wavelength (Near Infrared, Shortwave Infrared, Mid-wave Infrared, and Long-wave Infrared), Application, Vertical, and Geography - Global Forecast to 2025" The infrared imaging market is expected to grow from USD 5.2 billion in 2018 to USD 8.4 billion by 2025, at a CAGR of 7.16% between 2018 and 2025. The growth of this market can be attributed to the high demand for infrared imaging products from the military and defense sector, primarily for security and surveillance application.

Uncooled infrared imaging segment held larger share of infrared imaging market in 2017

On the basis of technologies, the uncooled infrared imaging segment leads the infrared imaging market. The cost of uncooled infrared imaging cameras is generally lower than that of cooled infrared imaging cameras. This is one of the major reasons for the high demand for uncooled infrared imaging cameras.

Security and surveillance application to dominate infrared imaging market during forecast period

On the basis of applications, security and surveillance is currently leading the market. It will continue to dominate the market during the forecast period. The ability of infrared imaging products to enhance visibility even in restricted visibility conditions, such as complete darkness and bad weather conditions, has led to their wide adoption for the security and surveillance application.

Market for nonindustrial vertical to grow at higher CAGR during forecast period

On the basis of verticals, the market for nonindustrial vertical is expected to witness higher growth during the forecast period. Military and defense, and civil infrastructure are the 2 major segments within the nonindustrial vertical that generate the highest demand for infrared imaging products and are driving the growth of this segment.

North America held largest share of infrared imaging market in 2017

North America held the largest share of the infrared imaging market in 2017. The US accounted for the largest share of the infrared imaging market in North America, followed by Canada and Mexico. The US Army is one of the major users of infrared imaging products, contributing to the leading position of North America in the infrared imaging market.

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Some of the players operating in the infrared imaging market include FLIR Systems (US), Fluke (US), Sensors Unlimited (US), Leonardo DRS (US), Princeton Infrared Technologies (US), L3 Technologies (US), Axis Communications (Sweden), Xenics (Belgium), Opgal Optronic Industries (Israel), New Imaging Technologies (France), Sofradir (France), C-Thermal (Austria), Tonbo Imaging (India), Raptor Photonics (UK), and Episensors (US).

                                                                          

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

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USA: 1-888-600-6441

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Solid-State and Other Energy-Efficient Lighting Market worth 174.45 Billion USD by 2022 with a growing CAGR of 5.38%

The report "Solid-State and Other Energy-Efficient Lighting Market by Technology (Solid-State, HID, Fluorescent), Installation Type (New & Retrofit), Offering (Hardware, Software, & Services), Application, and Geography - Global Forecast to 2022", The solid-state and other energy-efficient lighting market based on region was valued at USD 118.29 Billion in 2015 and is expected to reach USD 174.45 Billion by 2022, growing at a CAGR of 5.38% between 2016 and 2022.

The growth of this market is driven by the rapid penetration of solid-state lighting and the corresponding demand for technologically advanced energy-efficient lighting fixtures. These energy-efficient lighting sources generate light of a superior quality, are extremely energy efficient, and have a long life.

Market for automotive lighting expected to grow at the highest rate during the forecast period

The automotive lighting application segment is playing a crucial role in the overall market. Solid-state and other energy-efficient lighting technology offers benefits such as high efficiency and long battery life. Owing to these benefits, the automotive sector is largely adopting this technology for use in vehicles.

Solid-state and other energy-efficient lighting market for retrofit installation expected to grow at the highest rate between 2016 and 2022

Increasing replacement of incandescent lamps with energy-efficient light sources is the major factor contributing to the growth of the market for retrofit installation. The old-generation lamps are being slowly phased out and the fixtures are being retrofitted with solid-state and other energy-efficient lights as they offer a longer working life and also consume less energy.

Solid-state and other energy-efficient lighting market in RoW expected to grow at the highest rate during the forecast period

The solid-state and other energy-efficient lighting market is rapidly expanding in RoW. RoW includes South America and Middle East & Africa. Focus on real estate projects, where lighting is a basic requisite, is a major driver for the growth of this market. The economic growth is also expected to result in rapid urbanization, which is expected to significantly boost the market in the region.

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Some of the major players operating in the solid-state and other energy-efficient lighting market are OSRAM Licht AG (Germany), Royal Philips Electronics N.V. (Netherlands), Seoul Semiconductor Co., Ltd. (South Korea), General Electric Company (U.S.), Nichia Corporation (Japan), AIXTRON SE (Germany), Applied Materials, Inc. (U.S.), Applied Science and Technology Research Institute Company Limited (Hong Kong), Bridgelux, Inc. (U.S.), Cree, Inc. (U.S.), Acuity Brands, Inc. (U.S.), Advanced Lighting Technologies, Inc. (U.S.), Energy Focus, Inc. (U.S.), Intematix Corporation (U.S.), LED Engin, Inc. (U.S.), Toyoda Gosei Co., Ltd. (Japan), TCP International Holdings Ltd. (Switzerland), Topanga Technologies, Inc. (U.S.), Ceravision Ltd (U.K.), and Bright Light Systems, Inc. (Georgia).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

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USA: 1-888-600-6441

newsletter@marketsandmarkets.com

Bluetooth Smart and Smart Ready Market worth 5.34 Billion USD by 2023

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.

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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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

newsletter@marketsandmarkets.com