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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 Synopsis of Bluetooth in Automotive Market
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. Automotive Bluetooth enables features such as hands-free calling system, in-car infotainment and is now included as a standard equipment on millions of new cars and commercial vehicles.
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.
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.
GLOBAL BLUETOOTH IN AUTOMOTIVE MARKET SEGMENTATION
The market has been analyzed based on the three segments: Connectivity, Application, Vehicle Type and regions such as North America, Europe, APAC and Rest of the World. On the basis of it is segmented into connectivity, it includes bluetooth, Wi-Fi and cellular. Bluetooth accounted for the largest market share of 76.90% in 2016, with a market value of USD 10,612.2 million and is projected to grow at the highest CAGR of 35.74% during the forecast period. On the basis of application it is segmented into telematics, infotainment and communication. The global bluetooth in automotive market segmented by communication has augmented the largest market in terms of value. By vehicle type it is segmented into private cars, commercial vehicles, light duty vehicles and heavy goods vehicles. Private Cars accounted for the largest market share of 67.60% in 2016, with a market value of USD 9,328.8 million and is projected to grow at the highest CAGR of 35.61% during the forecast period.
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.
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.
The report for Global Bluetooth in Automotive Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Table of Content: Key Points
1 Executive Summary 13
2 Introduction 16
2.1 Definition 16
2.2 Scope of the Study 16
2.1 Assumptions 17
2.2 Market Structure 17
3 Research Methodology 18
3.1 Research Process 18
3.2 Primary Research 19
3.3 Secondary Research 19
3.4 Market Size Estimation 19
3.5 Forecast Model 21
4 Market Dynamics 22
4.1 Introduction 22
4.2 Drivers 23
4.2.1 Growing demand for smartphone features in Cars 23
4.2.2 Vehicle Diagnostic data update 24
4.2.3 Enabling cross industry cooperation between Telecommunication and Automobile industry 24
4.3 Restraints 25
4.3.1 Bluetooth coverage limitation and slow data transfer 25
4.3.2 Poor security of Bluetooth technology 25
4.4 Opportunities 26
4.4.1 A step stone for Autonomous Vehicles 26
4.4.2 Increased access with cheap price 26
5 Market Factor Analysis 27
5.1 Porter's 5 Forces Analysis 27
5.1.1 Threat of New Entrants 27
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