Global Bluetooth Low Energy (BLE) Technology Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Bluetooth Low Energy (BLE) is a wireless personal area network technology designed to provide considerably reduced power consumption and cost while maintaining a similar communication range as classic Bluetooth. The main purpose of BLE technology is to enable devices to operate with very low power requirements, allowing them to run for extended periods on small batteries or even coin cell batteries.

Sizing and Forecast
The bluetooth low energy (BLE) technology market size has grown steadily in recent years. It will grow from $9.17 billion in 2023 to $9.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%.  The growth in the historic period can be attributed to Increased demand for connected devices, increased demand for IoT devices, rose adoption of wearable technology, expanded applications in healthcare and fitness, grew need for low-power wireless connectivity..

The bluetooth low energy (BLE) technology market size is expected to see steady growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.  The growth in the forecast period can be attributed to integration with smart home devices, development of bluetooth mesh technology, demand for location-based services, and demand for asset tracking. Major trends in the forecast period include adoption in IoT devices, integration into automotive systems, integration with 5G technology, expansion into smart home technology, and advancements in bluetooth low energy SoC technology.

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Segmentation & Regional Insights
The bluetooth low energy (BLE) technology market covered in this report is segmented –
1) By Offering: Module, Chipset
2) By Mode: Single Mode, Dual Mode, Classic
3) By End User: Healthcare, Sports And Fitness, Home Appliances, Automotive, Consumer Electronics, Industrial Automation, Wearable Electronics, Gaming

North America was the largest region in the bluetooth low energy (BLE) technology market in 2023.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bluetooth low energy (BLE) technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising adoption of smart home devices and IoT is expected to propel the growth of the bluetooth low-energy (BLE) technology market going forward. Smart home IoT (Internet of Things) connected devices refer to a range of household appliances, systems, and gadgets that are designed to be interconnected and controlled remotely or automatically through the internet or a local network. The growing demand for convenience, enhanced security, energy efficiency, and remote control of home functions drive the rising adoption of smart home devices and IoT. Bluetooth low energy (BLE) technology in smart home devices and IoT enables low-power, cost-effective wireless communication for efficient device connectivity and control. For instance, in November 2022, according to Ericsson, a Sweden-based network and telecommunications company, the number of IoT-connected devices will increase to 34.7 billion by 2028, up from 13.2 billion in 2022, with 28.7 billion of these devices connecting via local short-range LPWANs and 6 billion through wide-area networks, including private cellular networks. Therefore, the rising adoption of smart home devices and IoT will drive the growth of the bluetooth low energy (BLE) technology market.

Key Industry Players
Major companies operating in the bluetooth low energy (BLE) technology market are  Amazon Inc., Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Group Corporation, Intel Corporation, Qualcomm Incorporated, Xiaomi Corporation, Broadcom Inc., Texas Instruments Incorporated, Koninklijke Philips N.V., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology Incorporated, Logitech International S.A, Garmin Ltd., Cypress Semiconductor Corporation, Razer Inc., Jabra, Quectel Wireless Solutions Co. Ltd., Fitbit Inc., Nordic Semiconductor ASA, Sierra Wireless Inc., Sennheiser electronic GmbH & Co. KG, Telit Communications PLC

The bluetooth low energy (ble) technology market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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