The global Bluetooth IC market is expected to depict a significant market growth during the forecast period.
Bluetooth is wireless communication standard, which allows electronic devices to connect and interact with each other. It is a protocol that facilitates connectivity in a range of electronic devices such as smartphones, loudspeakers, laptops, and cars. Bluetooth technology also offers developers a powerful, secure, low-power and low-cost wireless communications specification. Bluetooth sensors collect and share data with applications stored directly on Bluetooth compatible devices or on the cloud. Most of the Bluetooth ready devices support Bluetooth Low Energy (BLE) technology that allows other devices to connect with them by installing specific drivers in these devices. In this manner, the primary Bluetooth device acts as a hub that facilitates transmission of data and commands to peripheral devices. Increasing demand for mobility and growing demand for infotainment services are major factors driving the growth of the Bluetooth IC market. Morever, low power consumption of Bluetooth low energy devices along with better functionality are other factors driving the growth of the Bluetooth IC market.
Segmentation
The global Bluetooth IC market has been segmented on the basis of type, application, and region.
According to Market Research Future, the global Bluetooth IC market has been segmented on the basis of type, application, and region.
By type, the global Bluetooth IC market has been segmented into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5, and others. With advances in Bluetooth 4.0 to achieve Bluetooth 4.1, 4.2, and Bluetooth 5, there have been significant changes in the data transfer speeds, power consumption, costs, and efficiency of Bluetooth ICs. Bluetooth 4.0, often known as Bluetooth Low Energy (BLE) or Bluetooth Smart is largely adopted in healthcare, beacons, security, and home entertainment devices. Therefore, the market for Bluetooth 4.0 dominated the global market in 2018 and it is expected to witness significant growth during the forecast period. Bluetooth 5 is the latest evolution in the Bluetooth technology providing maximum throughput, high speed and bandwidth, low energy consumption, and significant mesh range in a network when compared to other Bluetooth technology segments. These chips are highly implemented in automation and the Internet of Things (loT) applications. Thus, the segment is expected to witness the fastest growth during the forecast period 2019–2025.
Based on application, the global Bluetooth IC market has been segmented into smart homes, beacons, audio devices, health & fitness, human interface devices (HID), remote controls, automotive, industrial, and others. Advancements in automation and proliferation of portable electronic devices have accelerated the adoption of Bluetooth ICs for several applications. Among the above-mentioned segments, the market for smart homes dominated the global market in 2018 and is estimated to maintain its dominance during the forecast period. On the other hand, the market for automotive applications is expected to witness the fastest growth during the forecast period 2019–2025. Bluetooth ICs are used in ADAS and infotainment systems to transfer data across vehicles and base stations.
By region, the global Bluetooth IC market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. Among these regions, the Asia-Pacific region dominated the global Bluetooth IC market in 2018 and is estimated to maintain its dominance during the forecast period 2019–2025. The market has observed a high concentration of chip manufacturing companies including Toshiba Corporation, Realtek Semiconductor Corp., and Asahi Kasei Microdevices Corporation in Taiwan and Japan. This has contributed to the growth of the overall market in Asia-Pacific. On the other hand, the North American region is expected to witness the fastest growth in the global market during the forecast period 2019–2025. Increasing adoption of smart wearables and rising smart city initiatives in the US and Canada is expected to propel the growth of Bluetooth IC market in North America.
Key Players
The key players in the Bluetooth IC market are identified across all the major regions based on their countries of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Texas Instruments Incorporated (US), Nordic Semiconductor (Norway), Dialog Semiconductor (UK), Cypress Semiconductor (US), Realtek Semiconductor Corp. (Taiwan), Asahi Kasei Microdevices Corporation (Japan), Renesas Electronics (Japan), STMicroelectronics (Netherlands), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Silicon Laboratories, Inc. (US), Microchip Technology Inc. (US), NXP Semiconductors NV (Netherlands), Telink Semiconductor (China), and Murata Manufacturing Co., Ltd. (Japan). The companies are focused on innovating in their existing product portfolio as well as launching new products by investing in research and development to analyze the changing market trends.
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Bluetooth IC MarketThe global Bluetooth IC market is expected to depict a significant market growth during the forecast period.Bluetooth is wireless communication standard, which allows electronic devices to connect and interact with each other.
It is a protocol that facilitates connectivity in a range of electronic devices such as smartphones, loudspeakers, laptops, and cars.
Bluetooth sensors collect and share data with applications stored directly on Bluetooth compatible devices or on the cloud.
Bluetooth 5 is the latest evolution in the Bluetooth technology providing maximum throughput, high speed and bandwidth, low energy consumption, and significant mesh range in a network when compared to other Bluetooth technology segments.
Thus, the segment is expected to witness the fastest growth during the forecast period 2019–2025.Based on application, the global Bluetooth IC market has been segmented into smart homes, beacons, audio devices, health & fitness, human interface devices (HID), remote controls, automotive, industrial, and others.
Among the above-mentioned segments, the market for smart homes dominated the global market in 2018 and is estimated to maintain its dominance during the forecast period.
Bluetooth IC MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Bluetooth IC Market.
The growth sectors of the Bluetooth IC Market are identified with precision for a better growth perspective.According to Market Research Future, the global Bluetooth IC market has been segmented on the basis of type, application, and region.By type, the global Bluetooth IC market has been segmented into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5, and others.
With advances in Bluetooth 4.0 to achieve Bluetooth 4.1, 4.2, and Bluetooth 5, there have been significant changes in the data transfer speeds, power consumption, costs, and efficiency of Bluetooth ICs.
Bluetooth 5 is the latest evolution in the Bluetooth technology providing maximum throughput, high speed and bandwidth, low energy consumption, and significant mesh range in a network when compared to other Bluetooth technology segments.
Thus, the segment is expected to witness the fastest growth during the forecast period 2019–2025.Based on application, the global Bluetooth IC market has been segmented into smart homes, beacons, audio devices, health & fitness, human interface devices (HID), remote controls, automotive, industrial, and others.
Among the above-mentioned segments, the market for smart homes dominated the global market in 2018 and is estimated to maintain its dominance during the forecast period.
