Bluetooth Smart & Smart Ready Market Size to Reach USD 39.3 Billion by 2025 Owing to Rising Usage of Smart Products & Appliances | Million Insights
FELTON, California, July 8, 2020 /PRNewswire/ -- The global bluetooth smart & smart ready market is anticipated to attain the revenue of USD 39.3 billion by the end of 2025. This growth can be associated with rising usage of smart products and appliances coupled with advances being made in the Bluetooth Technology. In addition, rising number of new entrants across this industry is expected to drive the competition among the local and global competitors.
The consumer electronics application segment held the largest share of around 30% across the global market owing to surging demand for tablets and smartphones. The retail and location-based services registered a CAGR of around 28% during the forecasted period due to rising influence of BT enabled devices like iBeacons or Bluetooth beacons.
The Bluetooth smart is expected to witness the fastest growth with a CAGR of over 30% in the upcoming years owing to growing industry of consumer electronics coupled with rising preference for wireless connectivity among the consumers. The Bluetooth smart ready held the largest share across the global market in 2016 owing to their feature of connecting to BLE as well as classic Bluetooth appliances.
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North America held the largest share owing to the increasing penetration of technologies like IoT (Internet of Things) coupled with rising demand for appliances having Bluetooth connectivity. Asia Pacific is projected to register significant growth in the upcoming years and generate revenue of around USD 12 Billion until 2025 owing to rising influence of tablets, smartphones, and smart devices among the millennial population.
The Bluetooth smart & smart ready market includes key players such as Qualcomm Technologies, Inc.; Murata Manufcturing Co., Ltd.; Broadcom, and CEVA, Inc. They are also engaged in implementing various strategies like mergers and acquisitions coupled with product development and innovation to gain a competitive advantage over other players.
Further key findings from the report suggest:
Browse 147 page research report with TOC on "Global Bluetooth Smart & Smart Ready Market" at: https://www.millioninsights.com/industry-reports/global-bluetooth-smart-ready-market
Million Insights has segmented the global Bluetooth smart & smart ready market on the basis of technology, application and region:
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