Bluetooth Smart and Smart Ready Market: Understanding the Key Product Segments and Their Future 2023
Bluetooth Smart is a revolutionary concept in the entire mobile connectivity industry. The central idea behind this technology is that it connects Bluetooth enabled devices to interact with each other… Moreover, power efficiency is one of the major factors driving the adoption of Bluetooth Smart technology over the traditional Bluetooth technology. Currently, wireless sensors are embedded in most of the electronic gadgets and consumer wearable products. These wireless sensors interact with each other using suitable connecting technology such as Bluetooth. Thus, growth of smart wireless sensors is one of the major driving factors for the growth of Bluetooth Smart and Smart Ready market. In addition, the users of the technology do not incur any additional costs as traditional Bluetooth enabled devices support Bluetooth Smart Ready products. The use of Bluetooth Smart Ready products result in significant power savings. Thus, low cost and low power requirements are some other factors fueling the adoption of Bluetooth Smart Ready products.
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There is a surge in the number of accessories and gadgets supporting Bluetooth and Bluetooth Smart Ready products and this is helping to form a connected infrastructure of all the electronic gadgets. Furthermore, wearable products market is expected to witness strong growth in the coming years and wearable products are Bluetooth Smart Ready enabled. However, as compared to other connecting technologies such as near field communication (NFC) and Wi-Fi, Bluetooth technology has low data streaming capacity. Thus, Bluetooth Smart Ready technology cannot be used in connecting devices where large amount of data is to be transferred. Bluetooth Smart Ready is not preferred for streaming high-definition videos in televisions and projectors. Hence, low data streaming capacity is one of the major hindering factors for the growth of Bluetooth Smart and Smart Ready market. In addition, security and privacy concerns associated with the use of Bluetooth technology are a major challenge for the players in this market.
With the growth of Bluetooth technology, numerous Bluetooth based applications emerged. Thus, on the basis of application, the market for Bluetooth Smart and Smart Ready products is segmented into automotive applications, consumer electronics applications, and wearable electronics applications. Consumer electronics segment has witnessed fastest growth over the last few years. It includes applications such as audio and video systems, gaming consoles, digital cameras, portable media players, Smartphones, headsets, tablets, computer peripherals and laptops. Further, wearable electronics segment includes consumer wearable devices (eye-wear, foot-wear, wrist-wear, neck-wear, and others), sports and fitness gadgets, building and retail applications, and medical devices. The use of Bluetooth Smart and Smart Ready products has witnessed strong market growth in North America, making it one of the major geographical regions for this market. However, Asia Pacific is anticipated to show strong growth in Bluetooth Smart and Smart Ready products due to increasing penetration of Bluetooth enabled Smartphones and personal computing products in this region.
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. are some of the major players operating in the global Bluetooth Smart and Smart ready market.