摩根士丹利：亚太地区半导体行业深度报告（英文版）

We believe short-range wireless communication technology is an attractive  way to play the IoT uptrend. We expect Bluetooth to dominate on further spec  migration, with the market set to double by 2025. We view Bestechnic as the  key proxy, but the trend should also benefit Realtek and Mediatek.