Beige Market Intelligence published a new market research report Strategic Assessment of Bluetooth Smart Market – Forecast Till 2021
“Bluetooth Smart Market” is a new report recently published by Beige Market intelligence with a worldwide coverage as well as a segmentation by device type (Bluetooth smart device, Bluetooth smart ready device) by shipment (classic Bluetooth module shipment, Bluetooth smart module shipment, Bluetooth smart ready module shipment) by application (automotive, consumer electronics, healthcare, home automation, industrial automation, retail and wearables) and by geography (APAC, EMEA, Latin America, and North America). The market research report provides growth trends, analysis and forecasts for the period 2016 – 2021 and predicts the market to be worth close to US$ 3 billion by 2021.
Industrial IoT is one of the largest end-markets for Bluetooth Smart. The market is expected to extend from personal area networks (PAN) to wider area networks (WAN). The Industrial Internet Consortium was founded in March 2014 to bring together the organizations and technologies necessary to accelerate the growth of Bluetooth smart within this sector. The organization is backed by companies such as AT&T, Cisco, Intel and IBM.
APAC to contribute to more than 50 percent of the revenue in the Bluetooth Smart Market in 2021
The demand for Bluetooth smart modules in the APAC region is driven by the rapid growth of organized retail in the region. As the region’s growth centres such as India, Indonesia, China and Thailand ease their FDI policies in multi-brand and E-commerce retailing, an influx of investments into the region’s retail sector is expected to exceed $20 billion during the forecast period. The high adoption of wearables will also add to the growth for Bluetooth smart in the region especially in the fitness segment with an emphasis on healthcare.
Healthcare sector expected to contribute to close to US$ 100 million of the Bluetooth Smart Market in 2021
The healthcare sector consists of devices such as hearing aids, blood pressure monitors, glucose monitors, smart drug delivery devices and thermometers. All of these are expected to contribute to the growth of the market. Continuous glucose monitors are a significant segment in healthcare sector owing to the growing prevalence of diabetes in the emerging economies of Latin America and Asia Pacific. Within the healthcare sector, North America is expected to contribute to the most of the Bluetooth smart market.
Close to 4 billion Bluetooth Smart Ready Modules to be shipped in 2021
With the introduction and realization of Internet of Things (IoT) in every aspect of a consumer’s life, ranging from health, fitness and wellness to retail and smart homes, Bluetooth Smart technology is turning out to be the de-facto standard for wireless connectivity. Bluetooth smart has also enabled the rise of several low cost pieces of hardware that eventually established new application segments itself. One such device, whose horizon of application is constantly expanding is beacons. Shipments of beacons, working on proximity sensing is expected to grow at a CAGR of more than 50% between the period 2016-2021.
Key Vendors in the Bluetooth Smart Market
The Bluetooth Smart market has a number of large players that are playing a pivotal role in the market. These companies are Broadcom, Cambridge Silicon Radio (CSR plc), Dialog Semiconductor, Nordic Semiconductor ASA, Silicon Labs and Texas Instruments (TI).
Other vendors operating in the market include Apple, Bluegiga Technologies , Blueradios, Cypress Semiconductor Corporation, Lapis Semiconductor, Marvell Technology Group, Ltd, Mediatek, Inc, Microchip Technology, Murata, NXP Semiconductors, STMicroelectronics and Toshiba.
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