According to a report by Grand View Research, Inc., global Bluetooth smart and smart ready market is estimated to reach at USD 39.3 billion by 2025. Growing requirement for electronic gadgets and devices with wirelessly connections is anticipated to propel the demand for Bluetooth smart and smart ready technologies over the forecast years (from 2018 to 2025). High demand for smart wireless sensors in electronic gadgets and consumer wearable devices are also expected to influence the growth of this market. Growing adoption of smart devices coupled with technological advancements in Bluetooth technology can also fuel market expansion. Increasing use of fitness and medical devices equipped with Bluetooth smart technology for better connectivity is also likely to stimulate market growth in near future.
Improving sustainability of Bluetooth Low Energy (BLE) technology in small battery-operated devices can foster market development during the forecast years. The Bluetooth smart and smart ready market is segregated on the basis of technology, application, and region. Based on technology, the market is bifurcated into Bluetooth smart ready and Bluetooth smart. Bluetooth smart segment is anticipated to grow at a CAGR of 30% from 2018 to 2025. Growing adoption of consumer electronic products offering wireless connectivity can fuel demand for Bluetooth smart technology in the forthcoming years. On the contrary, increasing use of consumer electronics and smart wearables that require tablets/smartphones to control them can stimulate the demand for Bluetooth smart ready devices during the forecast period.
Full Research Report On Bluetooth Smart & Smart Ready Market Analysis: https://www.grandviewresearch.com/industry-analysis/bluetooth-smart-and-smart-ready-market
Based on application, the market is classified into home automation, consumer electronics, automotive & transportation, medical & health, retail & location-based services, and wearables. In 2016, consumer electronics segment dominated the market and accounted for 30% of the total revenue share. It is expected to display a significant growth over the next few years due to high demand for tablets and smartphones. In addition, growing digitalization in developing countries such as India, Brazil, and other South Asian nations can fuel the segment growth. Home automation segment is anticipated to witness high growth during the forecast period. Rising penetration of Bluetooth technology in smart home appliances is expected to fuel the segment growth.
Retail & location-based services segment is likely to grow at a CAGR of 28% from 2018 to 2025. Growing usage of Bluetooth-enabled devices for location-based services, mobile wallet, and mobile couponing using Bluetooth beacons or iBeacons can positively influence the segment demand. Automation & transportation segment is expected to grow well in the forthcoming years. It can account for 12% of the total revenue share by 2025. High demand for connected car technology and advanced on-board connectivity is said to boost its development. Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. The North America regional market for Bluetooth smart and smart ready is expected to account for the largest share during the forecast period.
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Increasing number of connected devices coupled with rising adoption of Internet-of-Things (IoT) technology can spur the market growth in North America. The Asia Pacific region is anticipated to generate revenue equivalent to USD 12 billion by 2025. Smart ready segment is likely to account for 60% of revenue share. Increased penetration of tablets, smartphones, and other personal computing products are anticipated to augment the region’s growth. In Europe, the market is estimated to expand at a lower rate as compared to Asian region. However, Germany, being a manufacturing hub for Bluetooth-enabled devices, is estimated to witness a remarkable growth in the Europe region.
Some of the leading companies in the Bluetooth smart and smart ready market are Qualcomm Technologies, Inc.; Nordic Semiconductor ASA; Microchip Technology Inc.; Marvell Technology Group Ltd.; and Dialog Semiconductor. Considering the rising demand, most companies are focusing on R&D activities to develop advanced devices based on Bluetooth smart and smart ready technologies. For instance, a Chinese tech company named Shenzhen eMeet Technology Co. Ltd. recently introduced world’s first Bluetooth smartphone powered by Artificial Intelligence (AI) technology. This compact and portable device offers Bluetooth 4.2 technology, four high sensitive digital microphones, VoiceIA patent algorithm, and automatic volume adjustment. It can connect with any other smart device and can integrate seamlessly with all communication platforms via Bluetooth, AUX port, and USB wire.
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