Bluetooth 4.0 and 4+ series are the latest technologies that are specialized in low power consumption and fast and strong connectivity. Bluetooth 4.0’s updated version i.e. Wireless electronic accessories and appcessories are the recent trend in the global consumer electronic market. Bluetooth 4 series provides a user-friendly platform where consumers can experience a strong wireless accessibility. The recent product trend in the global Bluetooth market includes Bluetooth Speakers enabled with Bluetooth 4+ series. Many of the key players including companies like JBL Incorporated and Sony Corporation have recently launched innovative products in the Bluetooth speaker market. World Bluetooth enabled devices market was valued around US$ 2.2 bn and US$ 3.5 bn in the year 2012 and 2015 respectively and it is estimated to grow around US$ 4.0bn by the end of 2016.
Bluetooth 4.0 Market Segmentation:
On the basis of type of device, Bluetooth 4.0 market is segmented into Bluetooth smart devices, and Bluetooth smart ready devices. Both the markets are anticipated to grow at a significant rate owing to have technological advancement.
On the basis of application Bluetooth 4.0 market is segmented into Automotive, consumer electronics, healthcare, building & retail, Wearable Electronics. Consumer electronics segment is sub-segmented into smart phone, headset, speaker, headphone, tablet, laptop and smart TV. Building and retail segment is sub segmented into smart locks, smart homes, and beacons. Wearable electronics segment is sub segmented into consumer wearable devices includes smart glasses, smart watches, wearable cameras, 3D motion tracker, and activity trackers, and medical wearable devices includes holter monitors, wearable injectors, heart rate monitors, sleep apnea monitors, multiparameter monitors, continuous glucose monitors. Automotive segment includes speakers, adopters and receivers. In the Healthcare segment Bluetooth 4+ technology is used in blood pressure monitors, blood sugar monitors, and cholesterol monitors.
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Geographically, Bluetooth 4.0 market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia pacific excluding japan, Middle East and Africa (MEA), and Japan. North America, Western Europe and Japan are the matured market in terms of revenue generation, while Latin America and Asia Pacific excluding Japan are the fastest growing market. Geographically North African countries, GCC countries and developing countries in Asia Pacific are the opportunity for the global Bluetooth 4.0 market to increase the revenue.
Bluetooth 4.0 market Dynamics:
Bluetooth 4.0 market is driven by growing number of smartphones and Bluetooth enabled accessories around the world. Since, Bluetooth 4 series requires low power with technological advancement, it gain the popularity among the consumers worldwide. Global Bluetooth smartphones sale is anticipated to grow by around 30 percent during the next five to six forecast years. Moreover increasing application in consumer electronics, healthcare and automobile are surging the growth of global Bluetooth 4.0 market. However, Bluetooth 4.0 still has low data streaming capacity which is a growth restraining factor in the global Bluetooth 4.0 market. Also, virtual wifi is a great competitor that can handle huge data with a strong connectivity, this is another factor that is playing as a demand growth restrain.
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Bluetooth 4.0 market Key Players:
Some of the key players in the global Bluetooth 4.0 market are Cypress Semiconductor Corporation, Silicon Laboratories, Broadcom Corporation, Dialog Semiconductor PLC, CSR plc, Qualcomm Technologies, Inc., Dialog Semiconductor PLC, MediaTek Inc., Texas Instruments Inc.