Bluetooth Smart and Smart Ready Market Size - Development Status, Segmentations

Posted by Savni on March 16th, 2020

The global Bluetooth smart and smart ready market is expected to exhibit a strong 3.1% CAGR over the forecast period from 2017 to 2023 in order to reach a valuation of USD 5.07 billion by 2023, according to the latest research report from Market Research Future (MRFR). The report provides a clear overview of the global Bluetooth smart and smart ready market, including an analysis of the market’s leading drivers and restraints, key players, and major operations currently ongoing in the market. Leading competitive strategies employed by the major market players are also elaborated upon in the report to compile a detailed analysis of the competitive landscape of the market.

Bluetooth smart and smart ready is the second generation of Bluetooth, and comprises Bluetooth technology that can run on less energy and costs. Consistent upgrades in Bluetooth technology over the years have resulted in the promising development of Bluetooth smart and smart ready products, which are likely to be vital in the emerging IoT technology ecosystem in the coming years. The growing use of IoT infrastructure in industrial and residential applications is likely to be the major driver for the global Bluetooth smart and smart ready market over the forecast period.

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Competitive Analysis:

Leading players in the global Bluetooth smart and smart ready market include Nordic Semiconductor ASA, Marvell Technology Group Ltd., Dialog Semiconductor plc, Bluegiga Technologies, Mediatek Inc., Cypress Semiconductor Corporation, Qualcomm Inc., CEVA Inc., Microchip Technology Inc., Renesas Electronics Corporation, Texas Instruments Inc., Murata Manufacturing, Toshiba Corporation, Fanstel Corporation, and Broadcom Corporation.

In June 2019, Philips Hue launched its first Bluetooth smart lighting products, with three announced in June and more set to be introduced over the next several months.

Segmentation:

The global Bluetooth smart and smart ready market is segmented on the basis of device, technology, end user, and region.

By device, the global Bluetooth smart and smart ready market is segmented into smartphones, tablets, desktops, wearable devices, and others.

By technology, the Bluetooth smart and smart ready market is segmented into Bluetooth 5.0, Bluetooth smart, Bluetooth smart ready, and others.

By end user, Bluetooth Smart and Smart Ready Market Size is segmented into healthcare, transportation, government and defense, industrial, education, consumer electronics, automotive, building and retail, and others.

Regional Analysis:

The global Bluetooth smart and smart ready market is segmented on the basis of region into North America, Europe, Asia Pacific, and rest of the world.

North America is likely to dominate the global Bluetooth smart and smart ready market over the forecast period due to the strong presence of Bluetooth technology developers in the region. The growing adoption of Bluetooth connectivity in a number of consumer devices, including consumer electronics as well as household electronics, in the region is also likely to be a major driver for the Bluetooth smart and smart ready market in North America over the forecast period. The growing demand for Bluetooth-enabled tablets and laptops in the U.S. and Canada is also likely to be a major driver for the Bluetooth smart and smart ready market in the region over the forecast period. Growing preference for energy efficiency when it comes to consumer electronics is likely to be a major driver for the Bluetooth smart and smart ready market in North America over the forecast period.

Europe is also likely to hold a major share in the global Bluetooth smart and smart ready market over the forecast period due to the widespread demand for Bluetooth-enabled electronics.

Asia Pacific is likely to exhibit rapid growth in the Bluetooth smart and smart ready market over the forecast period due to the growing demand for consumer electronics such as smartphones and laptops in the region. The rising awareness about consumer electronics equipped with Bluetooth facilities, such as lighting and HVAC systems, is also likely to be a major driver for the Bluetooth smart and smart ready market in Asia Pacific over the forecast period.

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