Categories: Market Research

Global Bluetooth 5.0 Market Size and Forecast 2024-2033|Qualcomm Technologies Inc., Nordic Semiconductor ASA, MediaTek Inc., Broadcom Inc., Silicon Laboratories Inc

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The Bluetooth 5.0 Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Bluetooth 5.0 Global Market Report 2024, The bluetooth 5.0 market size has grown rapidly in recent years. It will grow from $4.42 billion in 2023 to $4.96 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increased data transfer speed, extended range, enhanced data broadcasting, higher throughput for audio streaming, low energy consumption.

The bluetooth 5.0 market size is expected to see rapid growth in the next few years. It will grow to $7.89 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to rapid growth in iot devices, expansion in smart home applications, emergence of location-based services, continued integration in audio devices, growing adoption in automotive connectivity. Major trends in the forecast period include increased range and throughput, enhanced data broadcasting, improved coexistence with other wireless technologies, mesh networking capabilities, low energy consumption, audio quality enhancements.

The increasing demand for audio devices is expected to propel the growth of the Bluetooth 5.0 market going forward. An audio device is a device that can receive and process an audio signal. Audio listening devices allow users to listen to various media, including cassettes, compact discs, and audio files. The demand and desire for mobility and flexibility continue to increase in Bluetooth audio streaming. Bluetooth technology is also helping create new products, from broadcast audio to enhanced hearing assistance. For instance, in May 2022, according to Trinity Audio, an Israel-based media company, in terms of online audio listening, there was a significant rise in listeners year over year. Data showed that 73% or an estimated 209 million people of the U.S. 12+ population are listening to online audio every month, up from 68% in 2021 or about 16 million more listeners. Therefore, the increase in demand for audio devices is driving the growth of the Bluetooth 5.0 market going forward.

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The bluetooth 5.0 market covered in this report is segmented –

1) By Component: Hardware, Solutions, Software Development Kit, Protocol Stacks, Services

2) By Application: Audio Streaming, Data Transfer, Location Services, Device Networks

3) By End-User: Consumer Electronics, Automotive, Healthcare, Industrial Automation, Other End Users

Technological advancements are a key trend gaining popularity in the Bluetooth 5.0 market. Major companies operating in the Bluetooth 5.0 market are developing innovative technologies to sustain their position in the market. For instance, in 2021, Cassia Networks launched the X2000 Bluetooth gateway, which provides secure, long-range, multiple-device connectivity for enterprise-grade IoT. This indoor/outdoor gateway provides seamless Bluetooth locations and coverage for Industry 4.0 and provides long-range connectivity up to 1km with Bluetooth 5 in open space.

The bluetooth 5.0 market report table of contents includes:

1. Executive Summary

2. Bluetooth 5.0 Market Characteristics

3. Bluetooth 5.0 Market Trends And Strategies

4. Bluetooth 5.0 Market – Macro Economic Scenario

5. Global Bluetooth 5.0 Market Size and Growth

26. South America Bluetooth 5.0 Market

27. Brazil Bluetooth 5.0 Market

28. Middle East Bluetooth 5.0 Market

29. Africa Bluetooth 5.0 Market

30. Bluetooth 5.0 Market Competitive Landscape And Company Profiles

Top Major Players: