The Bluetooth Smart and Smart Ready based on application is expected to be led by the consumer electronics segment during the forecast period.
Seattle, WA -- (SBWIRE) -- 07/06/2017 -- The Bluetooth Smart and Smart Ready market was valued at USD 4.55 Billion in 2016 and is expected to reach USD 5.34 Billion by 2023, at a CAGR of 2.23% during the forecast period.
The Bluetooth Smart and Smart Ready based on application is expected to be led by the consumer electronics segment during the forecast period. The rise in applications of smart wireless sensors that use Bluetooth technology is boosting the growth of the market for consumer electronics.
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This latest report analysis covers the Bluetooth Smart and Smart Ready market on the basis of technology, application, and geography. The Bluetooth Smart and Smart Ready based on application is expected to be led by the consumer electronics segment during the forecast period.
Smartphones, PC peripherals, and smart TV consoles are helping to elevate the overall consumer electronics segment. Smartphones have been the key driver for the Bluetooth technology as well as for the explosion of smart devices.
APAC is expected to hold the largest share of the Bluetooth Smart and Smart Ready market by 2023, and it holds a tremendous potential for growth in the coming future owing to its huge potential for the application of IoT, and existence of excellent transportation facilities and big car manufacturers such as Toyota Motor Corporation (Japan) and Nissan Motor Company Ltd. (Japan).
This analysis is completely based on, "Bluetooth Smart and Smart Ready Market by Technology (Bluetooth Smart, Smart Ready, and Bluetooth 5.0), Application (Automotive, Consumer Electronics, Wearable Electronics, Healthcare, Building & Retail), and Geographical Region"
The rising demand for Bluetooth Smart and Smart Ready in consumer electronics, growing application arena, and cost-efficient Bluetooth devices with low power consumption are the drivers for the Bluetooth Smart and Smart Ready market.
Some of the major companies operating in the Bluetooth Smart and Smart Ready market are Qualcomm Inc. (US), Broadcom Corporation (Singapore), Cypress Semiconductor Corporation (US), Dialog Semiconductor PLC (UK), Marvell Technology Group, Ltd. (Bermuda), Mediatek, Inc. (Taiwan), Nordic Semiconductor ASA (Norway), Bluegiga Technologies (Finland), etc.
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