Bluetooth Low Energy Market Forecasts to 2028 – Global Analysis By Product (Chipset, Module and Other Products), By Network Topology Type (Peripheral Device and Central Device), By Mode, By Technology, By Application, By End User and By Geography

Bluetooth Low Energy Market Forecasts to 2028 – Global Analysis By Product (Chipset, Module and Other Products), By Network Topology Type (Peripheral Device and Central Device), By Mode, By Technology, By Application, By End User and By Geography

According to Stratistics MRC, the Global Bluetooth Low Energy Market is accounted for $8.58 billion in 2022 and is expected to reach $27.85 billion by 2028 growing at a CAGR of 21.68% during the forecast period. Bluetooth 4.0, frequently referred to as Bluetooth Low Energy (BLE), was initially announced in 2011 by the Nokia Corporation. Bluetooth connects devices wirelessly and is widely utilized in wireless technology for a wide range of purposes, including data transfer and sharing over a short distance. The main distinction between Bluetooth and Bluetooth Low Energy (BLE) is that BLE consumes less power than Bluetooth.

According to EnOcean GmbH, currently 14 billion wireless sensor networks (WSN’s) devices in low power mode across the globe has trashed about 400 TWh (terawatt-hour) of electricity. However, by 2020 with 50 million devices, the consumption will increase by factor 3.5 to over 1,400 TWh.

Market Dynamics

Driver

Adoption of IoT solutions

Currently, the market is expanding significantly due to rising demand for powered, low-maintenance wireless sensing equipment and advancements in the Internet of Things. IoT defines a system in the physical world using embedded wireless sensors that can be wired or wirelessly connected to the Internet. These sensors can establish wireless connections using a variety of technologies, including RFID, NFC, Bluetooth, Bluetooth Low Energy (BLE), and Zigbee.

Restraint

Low data streaming

The primary issue faced by the Bluetooth low-energy market is the poor data streaming capability of low-energy Bluetooth modules. Moreover, heightened cyber security vulnerabilities are a serious worry for Bluetooth low-energy communications technology, particularly in medical devices. According to the U.S. Food and Drug Administration, this fragility could allow unauthorized users to wirelessly crash a device, prevent it from working, or access functions limited to its users.

Opportunity

Burgeoning Bluetooth low energy maker movement

The approval of the Bluetooth v4.0 specification, followed by native support for the technology by renowned mobile operating system providers such as Android, iOS, and Windows, has produced a disruptive revolution in the Bluetooth Low Energy market. The ability of the Bluetooth Low Energy protocol to establish simple wireless connectivity to master devices such as tablets, smartphones, and many other hub devices has enabled new innovations in several markets, including smartphone accessories, automotive, computer peripherals, wearable electronic gadgets, and many others.

Threat

Defect in technology

Bluetooth Low Energy is a standard among equipment found in hospitals and on retail store shelves. With more gadgets embracing wireless connections each day, a defect in the technology enabling complete access to medical devices is a big concern to digital-health product producers, not to mention their customers. Medical devices are becoming increasingly networked, and connected devices have inherent hazards that make them subject to security breaches. These breaches can impair the safety and effectiveness of the device and, if not corrected, may lead to patient damage.

Covid-19 Impact

The COVID-19 (coronavirus) pandemic is harming society and the general economy across the world. The impact of this epidemic is expanding day by day and hurting the supply chain. The COVID-19 problem is producing uncertainty in the stock market, a major slowing of the supply chain, weakening corporate confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production processes of various industries.

The chipsets segment is expected to be the largest during the forecast period

Chipsets segment is estimated to dominate the global market throughout the projection period. Bluetooth Low Energy chipsets are integrated circuits that feature a microprocessor along with protocol stacks, whereas a Bluetooth Low Energy module is an assembled circuit comprising a Bluetooth Low Energy chipset along with other electronic components. The manufacturer might supply the hardware solutions, depending on the production volume. Generally, if the manufacturing volume is less than 100,000 units, modules are selected, whereas for production volumes beyond 100,000 units, Bluetooth Low Energy chipsets are made.

The automotive segment is expected to have the highest CAGR during the forecast period

Automotive segment is expected to have lucrative growth during the forecast period. An important market for Bluetooth Low Energy is the automobile sector, which primarily uses the technology in its wireless multimedia receivers and audio systems. With Bluetooth Low Energy admiring widespread support made possible by its features, the original equipment manufacturers (OEMs) in the automotive industry are integrating the audio and multimedia systems in the vehicles, which is expected to drive the Bluetooth Low Energy market.

Region with largest share

Due to the growth of the Bluetooth low-energy maker movement, the increased need for powered, low-maintenance wireless sensing equipment, and advancements in the internet of things in this region, the Asia-Pacific region is predicted to have a dominant position in the market during the forecasted period. Wireless technology will play a significant role in the future to improve the connectivity between any desirable equipment as the APAC area economy accelerates towards an interconnected environment. As a result, there will be ample opportunities for BLE, an ultra-low-power technology, to flourish across a variety of end-user industries, including automotive, wireless audio and infotainment devices, wearable electronics, industrial and home automation, and many others.

Region with highest CAGR

Asia Pacific region is estimated to have profitable growth throughout the extrapolated period, as Asia's largest market for BLE technology is China, which has the second-largest economy in the world. It has quickly advanced in fields like education, infrastructure, high-tech manufacturing, scholarly publication, patents, and commercial applications and is currently a global leader in some of these sectors. These aspects are propelling the regions demand.

Key players in the market

Some of the key players in Bluetooth Low Energy market include Bluegiga Technologies , Cambridge Silicon Radio, Dialog, Ericsson Technologies, IBM, Infineon Technologies AG, Lenovo, Microsoft, Motorola Solutions, Nordic Semiconductor, NXP Semiconductors N.V, Panasonic, Qualcomm (CSR), Renesas Electronics , Samsung Electronics, Silicon Labs, STMicroelectronics, Texas Instruments and Toshiba Corporation.

Key Developments

In June 2022, Texas Instruments introduced a new range of microcontrollers which enable high quality Bluetooth low energy at half the price of competing devices. These microcontrollers feature the best in-class standby current and radiofrequency performance, and is christened SimpleLinkTM Bluetooth LE CC2340.

In October 2020, Samsung Electronics introduced SmartThings Find, a tracking software which easily locates Galaxy devices. The solution utilizes Bluetooth low energy and ultra-wideband technologies to help people find and select Galaxy smartphones, tablets, smartwatches and earbuds.

Products Covered
• Chipset
• Module
• Other Products

Network Topology Types Covered
• Peripheral Device
• Central Device

Modes Covered
• Dual Mode
• Single Mode

Technologies Covered
• Discrete Solutions
• Integrated Module
• Other Technologies

Applications Covered
• Medical
• Sensing
• Industry Automation
• Healthcare
• Automotive
• Sports and Fitness
• Consumer Electronics
• Electronic Devices
• Asset Tracking & Proximity Marketing
• Wearable Electronics
• Gaming
• Targeting and Shooting Controls
• Other Applications

End Users Covered
• Manufacturing
• Telecommunication
• Home Appliances
• Other End Users

Regions Covered
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities,Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements