PUBLISHER: Allied Market Research | PRODUCT CODE: 1193391
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193391
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
By Offering
By Organization Size
By Application
By Region