Bluetooth IC Market Insights
The Bluetooth IC market demonstrates significant revenue growth. The increasing use of Bluetooth ICs would substantiate market shares. Market Research Future (MRFR) confirms that the global Bluetooth IC market value is poised to escalate from USD 8.9 BN in 2022 to USD 29.63 BN by 2032, growing at a 14.30% CAGR throughout the review period (2023-2032).
Bluetooth ICs work on short-wave radio frequency technology. These chips are used to provide fast pairing for wireless devices for data transfer and enhance security & communication in audio devices, wireless consumer electronics, beacons, and others. The increasing demand for advanced Bluetooth technology for fast pairing and establishing communication between devices boosts the Bluetooth IC market size.
Additionally, the increasing adoption of Bluetooth ICs in automotive and other industrial applications fosters market growth. Also, the increasing number of smart devices and applications positively impacts the Bluetooth IC market revenues. Today, smart devices are increasingly used for various purposes, such as easy emergency management, enhanced decision-making, reduce operational costs, and more.
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Major Players
Leading Bluetooth IC market players include.
· Toshiba Corporation (Japan),
· STMicroelectronics (Netherlands),
· Qualcomm Incorporated (US),
· Nordic Semiconductor (Norway),
· Texas Instruments Incorporated (US),
· Dialog Semiconductor (UK),
· Silicon Laboratories, Inc. (US),
· Cypress Semiconductor (US),
· NXP Semiconductors NV (Netherlands, and
· Microchip Technology Inc. (US), among others.
Bluetooth IC Market – Segments
This market report is segmented into types, applications, and regions. The type segment is subs-segmented into Bluetooth, Bluetooth low energy (BLE), Bluetooth classic, and others. The application segment is sub-segmented into smart homes, beacons, audio devices, human interface devices (HID), health & fitness, remote controls, automotive, industrial, and others. By region, the Bluetooth IC market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Bluetooth IC Market – Regional Analysis
North America dominates the global Bluetooth IC market. The increasing development of IoT devices and growing utilization of wearable devices accelerate the region’s Bluetooth IC market share. Besides, the strong presence of technology developers and the rising demand for Bluetooth ICs from various industries fosters market revenues. Augmenting demand for advanced Bluetooth technology for automotive and industrial applications creates significant opportunities in the regional market.
Bluetooth Low Energy Beacons Market – Competitive Analysis
The Bluetooth IC market appears competitive and fragmented due to several key players having an international presence. Industry players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/technology launches to gain a larger competitive share. These players focus on product innovations and new manufacturing processes. The market is likely to witness fierce competition over the forecast period.
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Industry/Innovation/ Related News:
April 18, 2023 — Texas Instruments launched a new SimpleLink family of Wi-Fi 6 companion ICS for applications in high-density or high-temperature environments up to 105ºC. The new CC33xx family includes devices for Wi-Fi 6 only and Bluetooth Low Energy 5.3 connectivity in a single IC.
When attached to a microcontroller (MCU)/ processor, The CC33xx devices enable a secure IoT connection with reliable radiofrequency (RF) performance in grid infrastructure, medical and building automation. These devices allow designers to connect IoT edge nodes to the home or entrprise access points without additional equipment.
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