Global Bluetooth device market is anticipated to witness the significant growth in the next five years, majorly due to the adoption of Bluetooth 5 as the latest version of the Bluetooth core specification by the Bluetooth Special Interest Group (SIG) on Dec. 7, 2016. With global connected devices projected to grow to 34 billion units by 2021, Bluetooth 5 market is set to expand at a high rate over the forecast period. Growing power consumption worldwide is forcing companies to manufacture energy-efficient devices with wireless technology. The power efficiency of Bluetooth 5 with low energy functionality makes it compatible for devices that run on power sources for long periods such as energy harvesting devices and coin cell batteries. Other factors such as increasingly complex IoT (Internet of Things) environment, rising demand for low-energy functionality of various devices and coming up of new ‘connected’ devices have further contributed to the development of Bluetooth 5 that provides four times the range, twice the bandwidth, and eight times the broadcasting message capacity of Bluetooth 4.2 when used with low energy devices. Growing demand for smart home systems will lead to the high rate of adoption of this technology for connecting the entire smart home.
Growing awareness regarding good health and fitness is projected to augment the demand for wearables, particularly smart watches. Coming up of Bluetooth 5 will eliminate the limitation of earlier versions of Bluetooth, that is, slow connection to the smartphone and problems in interference with other wireless devices. This will further spur the demand for this technology in the coming years. Rising demand for passenger vehicles with Bluetooth technology coupled with high demand for Bluetooth speakers will also bolster the growth of global Bluetooth 5 market in the forthcoming years. However, existing smartphones, speakers, and other connected devices will not be able to benefit completely from the extra capabilities of this latest technology. That is, consumers will be needed to buy all-new Bluetooth 5 ready gear in order to experience its entire expanded feature set. This may restrain the growth of the technology during the forecast period.
The first section of the report deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry and regional regulations which are determining the product specifications and a brief technological aspect of Bluetooth 5 technology. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Global Bluetooth 5 Device market has been segmented on the basis of industry vertical, device, and geography. The market has been segmented by application as consumer electronics, automotive, healthcare, retail, and others. By device, the segmentation is has been done as smartphones, headphones, Smartwatches, speakers, and others. Geographically, segmentation has been done as Americas, Europe Middle East and Africa, and others.
Finally, competitive intelligence section deals with major players in the market, their growth strategies, products, financials, and recent investments among others. Key five industry participants profiled as part of this section are CEVA, Blossom Group, Ericsson, Apple, and Bose.