Bluetooth 5.0 Market By Offering (Hardware, Software, Services), By Organization Size (SMEs, Large Enterprises), By Application (Audio Streaming, Data Transfer, Location Services, Device Networks): Global Opportunity Analysis and Industry Forecast, 2021-2031
The Bluetooth 5.0 market was valued at $4,176.5 million in 2021 and is projected to reach $11,655.1 million by 2031, registering a CAGR of 10.9% from 2022 to 2031. The most recent Bluetooth wireless communication standard is Bluetooth 5.0. It is frequently used for wireless keyboards, mice, speakers, trackers, headphones, and other audio gear, as well as wireless keyboards, mice, and gaming controllers. Additionally, Bluetooth has been utilized for the internet of things (IoT) and smart home device connection.
The Bluetooth 5.0 market share is predicted to expand significantly during the forecast period due to rising industrial activities and growing dependency on Dual audio streaming. Furthermore, the increasing demand for audio devices, automotive entertainment, and diagnostic devices fuels the expansion of the market. However, the reduction in battery life of various smart and portable devices and the unavailability of proper data pack transmitting possibilities are the key factor constraining market expansion. On the contrary, the surge in the adoption of quality Bluetooth technology services and wireless technology is expected to propel Bluetooth 5.0 market growth.
The global Bluetooth 5.0 market research is segmented into offerings, organization size, application, and regions. Based on components, the market is bifurcated into hardware, software, and services. By organization size, it is divided into large enterprises and small & medium-sized enterprises (SMEs). Based on the deployment the market is segmented into cloud and on-premise. Based on application, the market is segmented into audio streaming, data transfer, location services, and device networks.
Region-wise, the Bluetooth 5.0 market trends are analyzed across North America (the U.S. and Canada), Europe (Germany, Italy, France, Spain, UK, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically the U.S., remains a significant participant in the global Bluetooth 5.0 industry. Major organizations and government institutions in the country have been actively using investments in sensing technology for automation.
The Bluetooth 5.0 market is fragmented in nature with many players such Broadcom Inc., Infineon Technologies AG, Microchip Technology Inc., Nordic Semiconductor, NXP Semiconductors, Qualcomm Technologies, Inc., Realtek Semiconductor Corp., Silicon Laboratories, Inc., STMicroelectronics and Texas Instruments Incorporated.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bluetooth 5.0 market analysis from 2021 to 2031 to identify the prevailing bluetooth 5.0 market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the bluetooth 5.0 market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global bluetooth 5.0 market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Offering
Hardware
Software
Services
By Organization Size
SMEs
Large Enterprises
By Application
Audio Streaming
Data Transfer
Location Services
Device Networks
By Region
North America
U.S.
Canada
Europe
Germany
Italy
France
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Broadcom Inc.,
Infineon Technologies AG
Microchip Technology Inc.
Nordic Semiconductor
NXP Semiconductors
Qualcomm Technologies, Inc.
Realtek Semiconductor Corp
Silicon Laboratories, Inc.,
STMicroelectronics
Texas Instruments Incorporated
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