The growing demand for simple, secure, power-efficient, low-cost carriers is considered the major factors driving the market growth for the Bluetooth smart and smart ready market. However, factors such as privacy & security concerns and weak data streaming capabilities are the key hindering factor for the Bluetooth smart and smart ready market growth over the forecast period.
The Global Bluetooth Smart and Smart Ready Market are expected to grow significantly in the future, thanks to the growing demand for secure, simple, power-efficient, low-cost carriers. On the flip side, factors such as weak data streaming capabilities and privacy & security concerns are the major hindering factor for the growth of the global Bluetooth smart and smart ready market over 2020-2026.
As per the MMR report, Global Bluetooth Smart and Smart Ready Market size was valued at US$ XX Bn. in 2019 and is expected to grow at a CAGR of 3.12% over 2020-2026, to account for US$ 7.12 Bn. in 2026.
The study is consolidated based on two major segments such as Technology (Bluetooth Smart, Bluetooth Smart Ready), and Application (Automotive & Transportation, Consumer Electronics, Home Automation, Medical & Health, Retail & Location-Based Services, Wearables), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 – 2019, considering 2019 as the base year.
Among the application, the consumer electronics segment was valued at US$ XX.44 Mn in 2019 and is expected to reach US$ XX.43 Mn. by 2026 at a CAGR of 4% over the forecast period. This growth is attributed to the robust demand for tablets & smartphones and growing digitalization in emerging economies, such as China, Brazil, India, and other South Asian economies.
In 2020, North America occupied the largest XX% market share thanks to the high penetration of IoT technology and a surge in the number of interconnected products via the internet. However, APAC accounts for second highest revenue share contribution to the Global Bluetooth Smart and Smart Ready Market, followed by markets in the Europe.
Key players operating in the Global Bluetooth Smart and Smart Ready Market are Bluegiga Technologies Oy, Mediatek Inc., Nordic Semiconductor ASA, NXP Semiconductors, Qualcomm Inc., Cypress Semiconductor Corporation, Dialog Semiconductor PLC, CSR plc, Marvell Technology Group, Ltd., Broadcom Corporation, and Texas Instruments Inc. Fanstel Corporation and Others.
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