For more than two decades, the Bluetooth community has proven the value of wireless connectivity. From wireless audio transmissions to wearables to location services and automation solutions, Bluetooth member companies continue to meet new demands in the consumer, commercial and industrial markets. The role of Bluetooth in smart buildings, smart homes and smart city markets is growing. The launch of the Bluetooth homing feature further strengthens Bluetooth's position in emerging markets.
Bluetooth technology will shine in these big markets
First, intelligent buildings
Bluetooth technology continues to innovate, further expanding the definition of intelligent buildings by implementing large-scale equipment networks and precise location services, making building automation as a reality, not only improving the visitor experience, improving household productivity, and optimizing space utilization. By 2023, location services are expected to become the main application for smart buildings, and Bluetooth location service devices for smart buildings will grow sevenfold. From navigation to space utilization, Bluetooth technology helps improve building operational efficiency and improve the household experience. At the same time, interconnected lighting solutions for smart buildings are on the rise. Leading manufacturers have released long-term product plans for lighting automation and control systems. By 2023, annual shipments of commercial building automation and security solutions are expected to grow at a compound annual growth rate of 46% to 6.5 times.
In the application area, the retail and healthcare industries will also benefit directly from smart building solutions. Retailers use Bluetooth technology to personalize promotions and navigation services, providing a better shopping experience, increasing sales and lowering operating costs. Healthcare organizations use Bluetooth technology to monitor patients, track assets, and improve emergency services to address cost pressures, improve care service levels, and operational efficiency.
Second, the smart industry
Bluetooth is leading the convergence of industry and information, paving the way for the industrial IoT revolution, helping manufacturers improve efficiency, productivity and security. By 2023, the annual compound growth rate of Bluetooth industrial equipment will reach 40%. Among them, Bluetooth asset tracking and management solutions will become increasingly popular, helping manufacturers and distributors optimize inventory management and improve operational efficiency. By 2023, its commercial deployment will grow at a rate of 47% per year, accounting for 70% of market shipments, paving the way for the development of smart industries.
At the same time, smartphones and tablets are gradually replacing traditional human-machine interfaces for condition monitoring and device remote control. Enterprise-level wearable devices have great potential for development. In 2019, shipments of enterprise-grade wearable devices such as scanners, earwear, and trackers accounted for 34% of smart industrial equipment shipments, and will maintain strong growth, with a compound annual growth rate of 28% over the next five years.
Third, smart home
Whether it's connecting a TV to a sound bar or connecting a PC to a keyboard, Bluetooth technology has been at the heart of connected homes for years. Today, the reliability, security and interoperability of Bluetooth will help unlock the full potential of the home automation market. Home automation has a compound annual growth rate of over 21% over the next five years. The ecosystem of mainstream technology vendors will dominate the development of the home automation market. In the past year, leading companies like Alibaba and Xiaomi have strategically chosen Bluetooth to define their home automation experience.
Smart home appliances have become the fastest-growing category of home automation equipment, with a compound annual growth rate of 59% over the next five years. By 2023, the annual shipment of smart home appliances will reach 540 million, while the annual shipments of connected home devices such as tools, toys, game systems and TVs will approach 900 million, and 100% of smart speakers will use Bluetooth. At the same time, the annual shipments of Bluetooth residential lighting will also increase by 4.5 times.
As one of the most widely used interconnection technologies, Bluetooth has become a Bluetooth solution in every key Internet of Things field as the Bluetooth community grows and Bluetooth technology continues to advance. From the consumer electronics field to communication solutions to industrial-grade connectivity, Bluetooth's capabilities are expanding and the future is limitless.
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