The bluetooth low energy devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Bluetooth Low Energy Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The bluetooth low energy devices market size has grown steadily in recent years. It will grow from $22.72 billion in 2023 to $23.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increased Internet of Things (IoT), increased consumer electronics demand, increased industrial automation, growth of smart home ecosystems, and increased mobile device integration.
The bluetooth low energy devices market size is expected to see steady growth in the next few years. It will grow to $28.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to the increasing adoption of bluetooth low energy (BLE) in healthcare and fitness applications, increasing focus on bluetooth low energy (BLE) security and privacy, integration of bluetooth low energy (BLE) with IoT and smart home devices, increasing demand for wearable devices and introduction and growth of bluetooth low energy (BLE) beacons. Major trends in the forecast period include enhanced healthcare applications, 5G and edge computing integration, innovation in smart retail solutions, growing emphasis on sustainability, and integration of blutooth low energy (BLE) in medical devices.
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Scope Of Bluetooth Low Energy Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Bluetooth Low Energy Devices Market Overview
Market Drivers –
The proliferation of smart devices is expected to propel the growth of the bluetooth low-energy devices market going forward. Smart devices are internet-connected electronic gadgets that can collect, process, and transmit data, enabling automation, remote control, and enhanced functionality compared to traditional devices. Smart device adoption has surged due to their seamless integration into daily routines, catalyzing a shift towards connected lifestyles. Bluetooth low energy devices enable smart devices to achieve efficient wireless communication with minimal power consumption, enhancing connectivity and functionality in various applications such as wearables, home automation, and health monitoring. For instance, in 2022, according to Statistics Canada, an agency of the Government of Canada, the use of Internet-connected smart home devices continued to grow, and was up from 42% in 2020 to 47% in 2022, with smart speakers (30%) being the most popular device. Therefore, the proliferation of smart devices is driving the growth of the Bluetooth low-energy devices market.
Market Trends –
Major companies operating in the Bluetooth low energy devices market are developing innovative chipset products such as system-on-chip (SOC) solutions, to better serve customers with advanced features. A system-on-chip (SoC) is an integrated circuit that combines multiple electronic components and functionalities into a single chip and incorporates all the necessary components and functionalities required for bluetooth communication. For instance, in June 2022, Renesas Electronics Corporation, a Japan-based manufacturer of semiconductors, launched its new SmartBond DA1470x Family, a highly integrated system-on-chip (SoC) series for Bluetooth low energy (LE) solutions. It integrates a power management unit, hardware voice activity detector (VAD), Graphics Processing Unit (GPU), and Bluetooth LE connectivity into a single chip, enabling advanced sensor and graphical capabilities in IoT devices with ultra-low-power audio processing. These are ideal for wearables, consumer medical devices, home appliances, industrial automation, and Bluetooth consoles.
The bluetooth low energy devices market covered in this report is segmented –
1) By Product Type: Module, Chipset
2) By Mode: Single Mode, Dual Mode
3) By Application: Automotive, Consumer Electronics, Healthcare, Building And Retail, Other Applications
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Regional Insights –
North America was the largest region in the bluetooth low energy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bluetooth low energy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the bluetooth low energy devices market are Amazon Inc., Apple Inc., Samsung Electronics Co. Ltd, Huawei Technologies Co. Ltd., Sony Corporation, Lenovo Group Ltd, Panasonic Corporation, Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, Nokia Corporation, Toshiba Corporation, Texas Instruments Incorporated, Koninklijke Philips NV, MediaTek Inc., Tokyo Denki Kagaku Kōgyō Corporation, Infineon Technologies AG, Murata Manufacturing Co. Ltd, NXP Semiconductors N.V., Microchip Technology Incorporated, Cypress Semiconductor Corporation, Silicon Laboratories Inc, Nordic Semiconductor ASA , Espressif Systems, Atmosic Technologies, Telink Semiconductor
Table of Contents
1. Executive Summary
2. Bluetooth Low Energy Devices Market Report Structure
3. Bluetooth Low Energy Devices Market Trends And Strategies
4. Bluetooth Low Energy Devices Market – Macro Economic Scenario
5. Global Bluetooth Low Energy Devices Market Size and Growth
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32. Global Bluetooth Low Energy Devices Market Competitive Benchmarking
33. Global Bluetooth Low Energy Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bluetooth Low Energy Devices Market
35. Bluetooth Low Energy Devices Market Future Outlook and Potential Analysis
36. Appendix
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