According to ABI Research, the smart home market is forecast to account for more than 13% of Bluetooth device shipments by 2024, equating to more than 815 million Bluetooth-enabled products at that time. The growth in a range of device types, including smart lighting, voice-control front ends, smart appliances and sensors, among others, many of which support Bluetooth, is propelling the market to grow from 250 million units in 2019 to become one of Bluetooth's largest market opportunities over the next five years, ABI says.
"The smart home market is beginning to ramp up, and strong growth for wireless devices and services is anticipated over the next few years as an increasing number of homes deploy solutions," said Andrew Zignani, principal analyst, ABI Research.
Bluetooth, thanks to its unique benefits such as low power consumption, audio capabilities, widespread presence in mobile devices, and mesh networking support, make the technology well-placed to take advantage of opportunities across a range of device types, ABI believes.
"Bluetooth's growing presence in voice control front ends from the likes of Amazon, Alibaba, Google, Baidu, and Xiaomi makes up a significant portion of this growth, alongside increased traction within smart lighting, smart appliances, door locks, sensors, and many other device types," Zignani said.
However, it is not just Bluetooth that will benefit from the increase in devices. WiFi, 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," Zignani said. "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 WiFi will account for 30% and 8%, respectively. Likewise, WiFi will be nearly ubiquitous in smart appliances alongside Bluetooth, while 802.15.4 and Z-Wave will gain traction in low power sensor devices."
Beyond the smart home, opportunities for Bluetooth within the Internet of Things (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.