Bluetooth Smart or Bluetooth 4.0 boasts of improved technology and specifications as compared to its traditional versions. It helps the regular gadgets to utilize least amount of energy and remain connected for a longer period of time. This characteristic makes Bluetooth 4.0 highly popular amongst technology enthusiasts as well as gadget manufacturers. The global Bluetooth Smart Ready Market is expected to witness exponential growth during the next few years. This growth is strongly driven by the growing use of smart gadgets and technological advancements in these technologies. More and more players are investing in this technology, making the industry a very competitive field in terms of business and investments.
Scope of Research for Bluetooth Smart Ready
The global Bluetooth Smart Ready market is segmented on the basis of the types of applications and demand in the market across different geographic regions. The major application segments in the market include consumer electronics, automotive, wearable electronics, retail, building, healthcare and such other industries. Based on geographic regions, the global market is segmented into North America, Europe, Middle East and Africa and Asia Pacific. Analysis of all these segments helps the researchers to understand about the current trends, driving factors, major hindrances and growth opportunities for the key market players.
Market Drivers and Restraints
As per the researchers, the Bluetooth Smart Ready Market is strongly driven by several major driving factors. These factors mainly include growth of the demand and market for the smart wireless sensors from different parts of the world. This demand is also driven by growth in the number of appcessories and requirement of products consuming low power and costs. As a result, the Bluetooth 4.0 is witnessing strong growth in terms of applications, demand and technological advancements. Issues like privacy and security concerns and low data streaming capacities are expected to be the strongest restraints for this market during the forecasting period. However, improving privacy and speed and IP connectivity are expected to create strong growth opportunities for this market in the years to come.
As per the latest research reports, the Bluetooth Smart Ready market is expected to maintain a healthy growth rate of over 9% from 2014 to 2020. At the estimated growth rate, the market is poised to become worth more than $3.9 billion by 2020. In the year 2013, the market was estimated to be worth $2.3 billion. Based on the geographic regions, Asia Pacific region is expected to be the strongest growing region in this market on the basis of the growth rate. Developed regions like North America on the other hand are expected to dominate the global market in terms of overall market shares.
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