LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global BLE module market predicts a CAGR of around 17% during the period 2018-2022.
The report segments the global BLE module market by technology (single-mode BLE modules and dual-mode BLE modules), by application (computing devices, smart wearables, and smart home appliances), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global BLE module market, according to Technavio hardware and semiconductor researchers:
- Accelerated growth of IoT market: a major market driver
- Increased applications of BLE modules: emerging market trend
- APAC dominated the global BLE module market by accounting for a share of more than 44% in 2017
- In 2017, the computing devices sector held the largest share of the market
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Accelerated growth of IoT market: a major market driver
The accelerated growth of IoT market is one of the major factors driving the global BLE module market. IoT is concerned with capturing data from the surrounding stimuli and allowing communication between people and machines. The increasing focus on the connected environment has resulted in IoT becoming one of the most rapidly growing markets. IoT devices collect data through sensors and actuators and transmit it to a centralized location on a real-time basis. This allows end-users to make informed decisions.
According to a senior analyst at Technavio for research on embedded systems, “IoT is the latest trend in the global technology arena. It integrates various technologies such as data communication, hardware design, data storage, and mining. IoT connects a device to other devices using a wireless network.”
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Increased applications of BLE modules: emerging market trend
Some of the common applications of BLE modules are consumer electronics, building and industrial automation, medical, and assisted living. The vendors are anticipated to provide BLE modules for a variety of new applications during the forecast period. This trend is expected to continue during the forecast period.
Global market opportunities
In terms of regional dominance, APAC held a market share of more than 44% in 2017. It was followed by the Americas and EMEA. The market share contributed by the APAC region is anticipated to increase significantly by 2022. The presence of numerous wearable manufacturers in the region will drive the demand for BLE modules during the forecast period. However, the market share of the Americas and EMEA is expected to decrease by some extent during this period.
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