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
“Rise in applications of smart wireless sensors expected to fuel growth of Bluetooth Smart and Smart Ready market”
The Bluetooth Smart and Smart Ready market, in terms of value, is expected to grow at a CAGR of 2.23% between 2017 and 2023, to reach USD 5.34 billion by 2023 from USD 4.55 billion in 2016. The Bluetooth Smart and Smart Ready market is mainly driven by the following factors: rising demand for Bluetooth Smart and Smart Ready in consumer electronics, and growing application arena across industries such as medical devices, automotive, wearable electronics, and building and retail. However, low data streaming capacity of Bluetooth Smart and Smart Ready is a restraint for the market.
”Bluetooth Smart and Smart Ready market for appcessories expected to grow at highest CAGR during forecast period”
Appcessories are hardware devices that interact with an app on smartphones or tablets through Bluetooth to perform a specific function. BLE has become the connectivity standard for these devices. Bluetooth Smart and Smart Ready solutions are prominently used in many appcessories, such as weight scales, toys, camera triggers, basketballs, and child proximity sensors. Currently, many start-ups are emerging with new apps that can control a specific device. The market of apps is ever increasing and is triggered by the demand for smartphones and these apps. Thus, the market for appcessories is expected to grow at the highest CAGR during the forecast period.
“APAC is the major region in Bluetooth Smart and Smart Ready market”
APAC is expected to hold the largest share of the Bluetooth Smart and Smart Ready market by 2023. It holds a tremendous potential for the market in the coming future owing to the developing economies such as China and India, which have a huge potential for the application of IoT, one of the key growth sectors for the Bluetooth Smart technology. Also, increasing demand for smartphones and PC peripherals, coupled with the realization of huge benefits of improved lifestyle, is driving the BLE market in APAC. Moreover, the APAC region accounts for the largest number of smartphone, tablet, and desktop users in the world, with India being the fastest-growing country.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials from the companies in the Bluetooth Smart and Smart Ready market. The breakup of profiles of primary participants for the report has been shown below:
• By Company Type: Tier 1 = 33 %, Tier 2 = 45%, and Tier 3 = 22%
• By Designation: C-Level Executives = 33%, Directors = 25%, and Others = 42%
• By Region: North America = 35%, Europe = 29%, APAC = 24%, and RoW=12%
The report also profiles the key players in the Bluetooth Smart and Smart Ready market and analyzes their market ranking. The prominent players profiled in this report are 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), among others.
This research report categorizes the Bluetooth Smart and Smart Ready market on the basis of technology, application, and geography. The report also provides a description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
Reasons to Buy the Report:
The report will help leaders/new entrants in this market in the following ways:
1. This report segments the Bluetooth Smart and Smart Ready market comprehensively and provides the closest market size estimation for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for the market.
3. This report will help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section describes competitor ecosystem and various strategies implemented by the companies, such as product developments, partnerships, and mergers and acquisitions.