Bluetooth IC Market: Global Industry Analysis and Forecasts (2023-2029)

Bluetooth IC Market size was valued at US$ 1.21 Bn. in 2022 and the total Bluetooth IC revenue is expected to grow at 18.2% through 2023 to 2029, reaching nearly US$ 3.92 Bn.
Bluetooth IC Market Overview:
Bluetooth IC is a low-energy integrated circuit (IC) device that uses a short wavelength to transmit and receive signals in the radio frequency range across small distances. These integrated circuits include unique algorithm software built in to provide low current consumption and speedy start-up without the need for microcontroller code. Bluetooth integrated circuits are utilized in consumer electronic devices such as smartphones, smartwatches, laptops, speakers, and headphones because Bluetooth sensors built in the ICs collect and communicate data with applications stored directly on Bluetooth-compatible devices.

Bluetooth ICs are also applicable in printers, webcams, GPS systems, keyboards, and mouse because they are easily upgradeable and can connect across any obstacles. Further improvements in miniaturized IC technology for data and command transmission to peripheral devices indicated that the Bluetooth ICs market is expected to grow significantly over the forecast period.To know about the Research Methodology :- Request Free Sample Report

In this report, the Bluetooth IC market's growth reasons, as well as the market's many segments (Type, Application, Industry Vertical, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Bluetooth IC market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Bluetooth IC market situation.
Bluetooth IC Market Dynamics:
The increase in demand for smart high-performance wireless sensors in Bluetooth ICs for better wireless connectivity in wireless audio devices such as speakers and headsets is the primary factor driving the Bluetooth ICs market growth. The increased adoption of Bluetooth ICs in smart wearable electronic devices such as smartphones, laptops, and smartwatches, as well as in automotive infotainment systems for low-cost wireless communication also enhances the Bluetooth ICs market revenue.

The rise in financial investments by governments globally in IoT-based device technology and increased demand for this device in smart homes or smart city projects is expected to pave new opportunities for the Bluetooth ICs industry. Furthermore, technological advancements help manufacturers to integrate more functionality into smaller devices which fuels the demand for Bluetooth IC in a variety of applications such as healthcare, automotive, and others.

Bluetooth low-energy IC is also used in automotive vehicles. Bluetooth IC communicates the authentic codes by using smartphones. A driver can activate interior or exterior lighting, adjust seat positions, and HVAC settings. Bluetooth IC devices also assist to provide vehicle diagnostic information such as tyre pressure, fuel level, battery health, and temperature, as well as automated piloted parking.

However, the combination of Intellectual Property blocks for System-on-Chip design, the possibility of connection failure, the low bandwidth of Bluetooth in certain conditions, and the continuous development of wireless communication technology all hamper the development of the Bluetooth IC chip market.
Bluetooth IC Market Segment Analysis:
By Type, Bluetooth 4.0 segment offers some real advantages, making it easier to connect and share data between the user's mobile device and their PC. Fast device pairing, low latency communication, and low power consumption are the benefits of Bluetooth 4.0. If users connect to their PC through Bluetooth 4.0, their device's battery should not be depleted.

Bluetooth 5. x segment is the most recent version of wireless communication technology. It is often used for Bluetooth headphones and other audio equipment. Bluetooth 5.0 devices may utilize data transmission speeds of up to 2 Mbps, which is double the speed of Bluetooth 4.2.

By Application, the Beacon segment has become more popular owing to the high speed and increased range of the Bluetooth 5. X version. Bluetooth ICs allow beacons to communicate with mobile devices over a short range and give information about the location of the device.

The multimedia transfer segment is expected to grow at the highest rate during the forecast period. Multimedia such as images, graphics, audio, electronic signals or video, and hypertext are transferred by using the Bluetooth version.

By Industry Vertical, the Automotive segment is expected to grow at a CAGR of 11.2 % during the forecast period. Bluetooth ICs allow vehicles to interact with each other and with the outside environment. Based on the location of the respective phones, it is possible to identify where exactly the driver is. It also allows drivers to get real-time information about their surroundings while on the road. This can assist to increase safety while also reducing congestion. Furthermore, Bluetooth integrated circuits may be utilized to control numerous features in the automobile interior, such as air conditioning, mirror adjustments, and seat adjustment that results in a more enjoyable driving experience.
Bluetooth IC Market Regional Insights:
In North America, the Bluetooth IC market is predicted to grow at the fastest rate over the forecast period. The growing use of wireless devices, together with the implementation of smart buildings has fueled the Bluetooth IC market share in this region.

The Asia Pacific is projected to grow at a rapid pace owing to the rising adoption of Bluetooth technology in various applications such as consumer electronics, retail, and transportation in this region. China, Japan, and South Korea have a key market for the Bluetooth IC market. Furthermore, the Governments and financial institutions investing in IoT system development also facilitate the Bluetooth IC market growth in this region over the forecast period.

The objective of the report is to present a comprehensive analysis of the Bluetooth IC market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Bluetooth IC market dynamics, and structure by analyzing the market segments and projecting the Bluetooth IC market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Bluetooth IC market make the report investor’s guide.
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Global Bluetooth IC Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.21 Bn.


Forecast Period 2023 to 2029 CAGR:
18.2%
Market Size in 2029:
US $ 3.92 Bn.


 Segments Covered:
by Type
Bluetooth 4.0
Bluetooth 4. x
Bluetooth 5. x
Others


by Application
Cordless Desktop
Beacon
Human Interface devices
Automatic Synchronization
Multimedia Transfer
Others


by Industry Vertical
IT & Telecommunication
Residential
Aerospace & defense
Automotive
Industrial
Healthcare
Others



Bluetooth IC Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Bluetooth IC Market, Key Players are
1. STMicroelectronics
2. Toshiba Corporation
3. Qualcomm Incorporated
4. Texas Instruments Incorporated
5. Nordic Semiconductor
6. Dialog Semiconductor
7. Cypress Semiconductor
8. Silicon Laboratories, Inc
9. Microchip Technology Inc
10. NXP Semiconductors NV
11. Realtek Semiconductor Corp
12. Asahi Kasei Microdevices Corporation
13. Renesas Electronics
14. Telink Semiconductor
15. Murata Manufacturing Co., Ltd
16. Amp'ed RF Wireless Technology
17. MediaTek Inc.
18. Maxim Integrated
19. Taiyo Yuden Co., Ltd.
20. Panasonic

FAQs:

1. Which is the potential market for the Bluetooth IC in terms of the region?
Ans. In the APAC region, the rising adoption of Bluetooth technology in various applications is expected to help drive the use of collaborative screens.

2. What is expected to drive the growth of the Bluetooth IC market in the forecast period?
Ans. The increase in demand for smart high-performance wireless sensors in Bluetooth ICs for better wireless connectivity in wireless audio devices such as speakers and headsets is the primary factor driving the Bluetooth ICs market growth.

3. What is the projected market size & growth rate of the Bluetooth IC Market?
Ans. Bluetooth IC Market size was valued at US$ 1.21 Bn. in 2022 and the total Bluetooth IC revenue is expected to grow at 18.2% through 2023 to 2029, reaching nearly US$ 3.92 Bn.

4. What segments are covered in the Bluetooth IC Market report?
Ans. The segments covered are Type, Application, Industry Vertical, and Region.