Market Insights on Growth of Bluetooth in Automotive Market during 2016-2023

Global Bluetooth in Automotive Market Information By Connectivity (Bluetooth, Wi-Fi and Cellular), By Application (Telematics, Infotainment and Communication), By Vehicle Type (Private Cars, Commercial Vehicles, Light duty vehicles and Heavy Goods Vehicles (HGV)) and Region - Forecast 2017-2023.

Market Highlights;

Bluetooth is wireless communication standard, which allows electronic devices to connect and interact with each other. It can be found in a range of gadgets such as smartphones, loudspeakers, laptops and cars. The automotive industry is a steadily growing market for Bluetooth technology. Devices that are Bluetooth compatible should be in close proximity to each other and they can take part in wireless, two way communication. Bluetooth in automotive allows users to access their cell phones through the in car infotainment system. Evidently, in recent years, global major automakers are offering Bluetooth as a factory installed feature. Using Bluetooth in infotainment systems would allow passengers and drivers to listen to music and information while driving. In addition to that, once connected to Bluetooth, drivers can use apps to navigate, check traffic, view latest weather report, and look for information such as movie times and restaurant locations. Overall, the use of Bluetooth technology improves driving experience.

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Market Synopsis of Bluetooth in Automotive Market

Bluetooth is wireless communication standard, which allows electronic devices to connect and interact with each other. It can be found in a range of gadgets such as smartphones, loudspeakers, laptops and cars. The automotive industry is a steadily growing market for bluetooth technology. Devices that are bluetooth compatible should be in close proximity to each other and they can take part in wireless, two way communication. Bluetooth in automotive allows users to access their cell phones through the in car infotainment system. Evidently, in recent years, global major automakers are offering bluetooth as a factory installed feature. The use of bluetooth technology is rapidly increasing in the automotive industry. Bluetooth offers automobile manufacturers with a cost effective and versatile form of wireless connectivity. Bluetooth provides a short range wireless interface that helps other bluetooth enabled devices to connect to each other and establish a network.

The Global Bluetooth in Automotive Market has witnessed a remarkable growth over the past few years. This market was valued at USD 13,800.0 Million in 2016 and is poised to reach USD 1, 09,979.0 Million by 2023 with a CAGR of 34.65%. Bluetooth in Automotive Market is driven by various factors such as the growing demand for smartphone feature in cars and the ability to carry out vehicle diagnostics. Furthermore, Bluetooth in automotive acts as a bridge between the automotive and the telecommunication industry. However, the coverage and range limitation of Bluetooth coupled with its slow data transfer is a major restraint in the market. Poor security offered by Bluetooth technology also acts as a hindrance to the wide spread implementation of Bluetooth.

Regional Analysis

Geographically, Asia-Pacific is the major revenue generator as well as consumer of Bluetooth in Automotive Market. Among all the regions, Asia-Pacific has accounted the market share of 43.1% in 2016 with the market value of USD 5,947.8 million in 2016. The major factor that has propelled the APAC growth is vast number of vehicles in China and India, growing number of domestic as well as global players and emerging economies. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to raise the production of motor vehicles and other manufacturing output, considerably. On the one hand, Europe and the U.S. will post strong growth.

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Key Players

The major player operating in the market of global bluetooth in automotive are Nordic Semiconductor, Texas instruments, QUALCOMM Incorporated, Broadcom Corporation, MediaTek Inc, Pioneer Corporation, Fihonest Communication Co., Ltd, Hosiden Corporation, Silicon Laboratories, IVT Corporation and others.

Market Research Future Analysis:

The global Bluetooth in Automotive Market is a very dynamic and is expected to witness significant growth over the forecast period. The growth of the Bluetooth in Automotive Market is majorly influenced by the growing demand for smartphone features in cars and other vehicles. Furthermore, the use of Bluetooth enables analysis of vehicle diagnostics, which enhances the safety of vehicles. However, the limitations of coverage and slow data transfer of Bluetooth technology coupled with poor security of Bluetooth operations, are hindering the growth of Bluetooth in Automotive Market.

Currently, Asia-Pacific is dominating the market with increasing vehicle production in countries such as India and China and the increasing production capacity. The market in the developing countries is largely driven by economic growth and ongoing industrialization, which is likely to lead to considerable production of motor vehicles and other manufacturing output.

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