Global Bluetooth 5.0 Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Bluetooth 5.0 is the latest version of the Bluetooth wireless communication standard. It is a close-range technology that is found in smartphones, wireless headphones, tablets, smartwatches, speakers, desktop computers, laptops, and others. The surging demand for connected wearables, growing investments in IoT devices, and rising acceptance of digital keys are the primary factors that are propelling the market growth across the globe.
According to Statista, it was estimated that there was nearly 8.6 billion Internet of Things (IoT) connected devices recorded in 2019, which is projected to reach approximately 19.1 billion IoT-connected devices by 2025. Therefore, the increasing demand for IoT-connected devices is augmenting the growth of the Bluetooth 5.0 Market worldwide. In addition, the growing penetration of Bluetooth location service devices, as well as increasing awareness about Bluetooth beacon technology are presenting various lucrative prospects for market growth over the forecasting years. However, rising security and access concern, along with the dearth of skilled professionals stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bluetooth 5.0 Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the space in terms of revenue, owing to the growing investment in R&D activities, high adoption of Bluetooth location service devices, and presence of well-established market players. Whereas, Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as surging demand for connected devices, emergence of novel technologies, and rising investment in digital infrastructural development.
Major market players included in this report are:
Recent Developments in the Market:
In May 2022, STMicroelectronics joined forces with AWS to secure IoT links to its cloud and with Microsoft to improve the advancement of highly secure IoT devices.
In April 2022, Qualcomm announced the acquisition of Arriver from SSW Partners. The objective of this acquisition is to expand the company's ability to present open, fully integrated, and Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers at scale.
In November 2021, Nordic Semiconductor unveils the company's collaborative agreement with AVSystem on Lightweight M2M for IoT device management.
Global Bluetooth 5.0 Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Application, End-User, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Software Development Kit
Retail and Logistics
Rest of the World