The Global Bluetooth 5.0 Market size is expected to reach $7.6 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.
A short-range network technology standard called Bluetooth is used to create personal area networks and exchange data over short distances between stationary and mobile devices (PANs). It uses UHF radio waves between 2.402 GHz and 2.48 GHz in the ISM bands. It is mostly used as an alternative to wired connections, to transfer files between adjacent portable devices, and to pair wireless headphones with cell phones and music players. Transmission power in the most popular mode is restricted to 2.5 milliwatts, giving it a fairly short reach of up to 10 meters (33 ft).
The Bluetooth Special Interest Group (SIG), which includes more than 35,000 members from the telecommunications, computing, networking, and consumer electronics industries, is responsible for managing Bluetooth. It was standardized as IEEE 802.15.1, but the IEEE no longer upholds the standard.
The Bluetooth SIG is in charge of managing the qualification process, developing the specification, and defending trademarks. To sell a product as a Bluetooth device, the manufacturer must adhere to Bluetooth SIG standards. The technique is covered by a network of patents, which are licensed to specific qualifying devices.
On December 6, 2016, the Bluetooth SIG announced Bluetooth 5.0, New Internet of Things technology is the main emphasis of its new features. With its Xperia XZ Premium, Sony was the first to reveal Bluetooth 5.0 functionality in February 2017 at the Mobile World Congress. In April 2017, the Samsung Galaxy S8 went on sale with Bluetooth 5 compatibility. With Bluetooth 5 capability, the iPhone 8, 8 Plus, and iPhone X were introduced in September 2017.
The COVID-19 pandemic caused a health crisis and continues to have an impact on all facets of professional and personal life. The COVID-19 pandemic affected a wide range of industries, and at the time of its commencement, analysts were unable to foresee the full effect the pandemic would have on market estimates. Despite the fact that several Bluetooth markets have had slower growth than anticipated, according to the recently published 2021 Bluetooth Market Update, analysts expect to see annual growth pick up as head towards 2021. Some Bluetooth markets discovered an opportunity to prosper during this difficult period. Bluetooth PC accessories grew as more people across the world started working from home.
Bluetooth technology is widely used as a device positioning solution to meet the increasing demands for high-accuracy indoor location services in a variety of applications, including personal item finding, indoor navigation, asset tracking, and digital keys. A Bluetooth device can identify the location, size, and direction of other devices. It offers versatility unmatched by any other positioning radio, enabling owners and managers of buildings to scale indoor positioning solutions to meet shifting building requirements. For the best resource and inventory control, commercial and industrial establishments are increasingly turning to Bluetooth asset management systems. When it comes to Bluetooth Location Services, RTLS and tags have taken the lead in propelling continuing growth of the Bluetooth 5.0 market.
Government support for the production of smartphones is progressively increasing. Imports of smartphones raise the price of cell phones, preventing their widespread use. Modern technology advancements like Android smartphones and smart living are gradually affecting people's lives. The short-wavelength radio transmissions used by Bluetooth technology, which aims to exchange data wirelessly over short distances, are supplying the essential technology for convenience, intelligence, and controllability. This proposes and prototypes a novel Smart Living system dubbed a home lighting control system using an Android smartphone with Bluetooth.
For every wireless system, interference has been one of the main obstacles to enabling dependable data connectivity. Since Bluetooth and Wi-Fi devices and other wireless technologies share a transmission medium, a data packet can be damaged or destroyed during transmission if it collides with another packet that is also being communicated at the same time and on the same frequency channel. A proposed interference awareness technique is based on the BLE connection's packet state. To identify interference as soon as feasible in the BLE connection, many properties of each packet sent and received are tracked.
Based on the Component, the Bluetooth 5.0 Market is segmented into Hardware, Software, and Services. The hardware segment acquired the highest revenue share in the Bluetooth 5.0 market in 2021. It is because more chances in the Bluetooth 5.0 technology solutions have been created as a result of the rise in demand for high-speed, secure, and reliable wireless communication technology, which has also led to the creation of a variety of use cases. Hardware for Bluetooth 5.0 consists of SoC, RF, development boards, sensors, and controllers.
On the basis of Application, the Bluetooth 5.0 Market is divided into Audio Streaming, Data Transfer, Location Services, and Device Networks. The device networks segment recorded a substantial revenue share in the Bluetooth 5.0 market in 2021. Bluetooth mesh networking enables communications between several devices. It is appropriate for building monitoring, control, and automation systems wherein tens to thousands of units must reliably and securely interact with one another.
By End User, the Bluetooth 5.0 Market is classified into Consumer Electronics, Wearables, Automotive, Retail and Logistics, Healthcare, Smart Home/Building, Industrial Measurements and Diagnostics, and Other End Users. The automotive segment registered a significant revenue share in the Bluetooth 5.0 market in 2021. Because the car has rudimentary Bluetooth connectivity, can couple it with a phone and use some features without needing to connect it to a cable. The biggest benefit of doing this is that users can use the car's speakers to make hands-free phone conversations.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 3.7 Billion |
| Market size forecast in 2028 | USD 7.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 11.2% from 2022 to 2028 |
| Number of Pages | 263 |
| Number of Tables | 413 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Application, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the Bluetooth 5.0 Market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment acquired the largest revenue share in the Bluetooth 5.0 market in 2021. It is because the nations are stable and well-established, enabling them to make significant investments in R&D operations and contribute to the creation of new technology. The area is well renowned for its rapid adoption of cutting-edge technologies, including IoT, wearables, autos, smart cities, smart businesses, smart agriculture, and linked and autonomous vehicles.
Free Valuable Insights: Global Bluetooth 5.0 Market size to reach USD 7.6 Billion by 2028
The major strategies followed by the market participants are Acquisitions. Based on the Analysis presented in the Cardinal matrix; Qualcomm Technologies, Inc. is the major forerunner in the Bluetooth 5.0 Market. Companies such as STMicroelectronics N.V., NXP Semiconductors N.V. and ON Semiconductor Corporation are some of the key innovators in Bluetooth 5.0 Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Qualcomm Technologies, Inc., Nordic Semiconductor ASA, MediaTek, Inc., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology, Inc., ON Semiconductor Corporation, Texas Instruments, Inc., Synopsys, Inc. and Qorvo, Inc.
By Component
By Application
By End User
By Geography
The global Bluetooth 5.0 Market size is expected to reach $7.6 billion by 2028.
A Wide Variety of Bluetooth Location Service Devices Are Available are driving the market in coming years, however, Interference with Bluetooth Packets restraints the growth of the market.
Qualcomm Technologies, Inc., Nordic Semiconductor ASA, MediaTek, Inc., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology, Inc., ON Semiconductor Corporation, Texas Instruments, Inc., Synopsys, Inc. and Qorvo, Inc.
The Audio Streaming market shows high market share in the Global Bluetooth 5.0 Market by Application in 2021; thereby, achieving a market value of $2.7 billion by 2028.
The Retail & Logistics market has shown the high growth rate of 9.3 % during the forecast period. By enabling tailored advertising and marketing, technologies considerably benefit retailers and landlords, notably shopping centers and retail parks.
The North America market dominated the Global Bluetooth 5.0 Market by Region in 2021; thereby, achieving a market value of $2.8 billion by 2028.
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