Bluetooth IoT Market Set to Nearly Quadruple by 2024 as Smart Home Exceeds 800 Million Device Shipments

However, it is not just Bluetooth that will take advantage of this vast increase in devices. Wi-Fi, 802.15.4, and Z-Wave smart home products are all anticipated to see device shipments grow between now and 2024. "The smart home market is made up of numerous different device types, each with their own specific throughput, power, range, and topology requirements. Smart lighting device shipments will break the 300-million-unit barrier by 2024, with 60% of these based on 802.15.4 technology. Bluetooth and Wi-Fi will account for 30% and 8%, respectively. Likewise, Wi-Fi will be nearly ubiquitous in smart appliances alongside Bluetooth, while 802.15.4 and Z-Wave will gain traction in low power sensor devices," adds Zignani.

However, it is not just Bluetooth that will take advantage of this vast increase in devices. Wi-Fi, 802.15.4, and Z-Wave smart home products are all anticipated to see device shipments grow between now and 2024. "The smart home market is made up of numerous different device types, each with their own specific throughput, power, range, and topology requirements. Smart lighting device shipments will break the 300-million-unit barrier by 2024, with 60% of these based on 802.15.4 technology. Bluetooth and Wi-Fi will account for 30% and 8%, respectively. Likewise, Wi-Fi will be nearly ubiquitous in smart appliances alongside Bluetooth, while 802.15.4 and Z-Wave will gain traction in low power sensor devices," adds Zignani.

Beyond the smart home, opportunities for Bluetooth within the IoT will include beacons and personal trackers, healthcare devices, commercial building automation and lighting, as well as several different types of wearable devices, including smartwatches and fitness trackers. These will soon begin to open increased opportunities for likes of Nordic Semiconductor, Dialog Semiconductor, Cypress (recently acquired by Infineon), Silicon Labs, NXP, Microchip, Espressif Systems, MediaTek, Qualcomm, Broadcom, STMicroelectronics, Telit, TI, Redpine Signals, On Semiconductor, u-blox, and Atmosic.

These findings are from ABI Research's Wireless Connectivity Technology Segmentation & Addressable Markets market data report. This report is part of the company's Wi-Fi, Bluetooth and Wireless Connectivity research service, which includes research, data, and Executive Foresights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.

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