The bluetooth low energy market size is estimated to surpass USD 9,523.0 million in 2023 and is anticipated to hit a valuation of USD 31,015.5 million by 2033. The Bluetooth low energy market share is predicted to thrive at a CAGR of 12.5% from 2023 to 2033.
The Internet of Things (IoT) ecosystem depends heavily on Bluetooth Low Energy (BLE) technology. The demand for BLE-enabled devices has expanded in tandem with the continued growth in IoT device adoption across a variety of industries, including healthcare, retail, automotive, and smart homes. BLE is a great option for IoT applications since it uses less power, has wireless communication, and works with smartphones.
Modern cell phones are virtually universally BLE-capable, and they have become an essential part of our life. The ubiquitous use of smartphones with built-in BLE capabilities has created new market prospects for BLE-enabled wearables, fitness trackers, and smart home gadgets.
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With an emphasis on remote patient monitoring, fitness tracking, and wellness applications, the healthcare and fitness sectors have experienced tremendous development in recent years. Due to their capacity to effortlessly link with smartphones or other gateways, BLE-enabled devices, such as heart rate monitors, smartwatches, and medical sensors, have become increasingly prevalent. This allows for real-time data monitoring and analysis.
The concept of “smart homes,” which have a variety of linked and remote-controllable appliances and gadgets, has gained popularity. Smart home appliances like smart locks, lighting controls, thermostats, and home assistants are able to connect and communicate with one another by using BLE technology. The simplicity and automation that these gadgets provide are contributing to the BLE industry boom.
Key Takeaways from Bluetooth Low Energy Market Report:
- In 2018, the global market size stood at USD 5,570.1 million.
- The market expanded at a CAGR of 10.4% from 2018 to 2022.
- In 2022, the global market size stood at USD 8,587.0 million.
- The United States captured 20.3% of global market shares in 2022.
- India captured 9.2% of global market shares in 2022.
- China captured 13.4% of global market shares in 2022.
- The United Kingdom captured 9.3% of global market shares in 2022.
- The Bluetooth low energy integrated module captured 67.7% of global market shares in 2022.
- The Bluetooth low energy for healthcare segment acquired 18.1% of global market shares in 2022.
Key Players in the Global Market
- Intel Corporation
- Lenovo Group Ltd.
- Microsoft Corp.
- Motorola Solutions Inc.
- Nokia Corp.
- Toshiba Corp.
- IBM Corp.
- Ericsson Technology Licensing AB
- Panasonic Corp.
- Bluegiga Technologies
- Nordic Semiconductors
- Koninklijke Philips NV
- Cambridge Silicon Radio
- Texas Instruments
- Samsung Electronics Co. Ltd.
- MyLand Limited
- Qualcomm Inc.
- Nike Inc.
- LG Corp.
- Ellisys S.A.
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Recent Developments Observed by FMI:
- In September 2022, Panasonic Industry launched a new Bluetooth® Low Energy module with 512 kB flash for uses that require high performance while remaining cost-effective. The PAN1782 from Panasonic Industry Europe has increased the range of Bluetooth® LE modules available. This module is designed for IoT applications with better value but lower cost, such as professional lighting, asset monitoring, smart homes, intelligent wearables, and smart homes.
- In June 2022, Renesas Electronics Corporation unveiled the SmartBondTM DA1470x Family of Bluetooth® low energy (LE) solutions, the most advanced, integrated System-on-Chip (SoC) family for wireless communication. The DA1470x Family is the only item available on the market for Bluetooth LE that integrates a graphics processing unit (GPU), hardware voice activity detector (VAD), and Bluetooth LE connection into a single chip.
- Texas Instruments unveiled a new line of microcontrollers in June 2022 that enable high-quality Bluetooth low energy at a price that is half that of rival products. These microcontrollers, known as SimpleLinkTM Bluetooth LE CC2340, offer the greatest in-class standby current and RF performance.
Bluetooth Low Energy Industry Segmentation:
By Technology:
- Bluetooth Low Energy Integrated Module
- Bluetooth Low Energy Discrete Solutions
By Application:
- Bluetooth Low Energy for Consumer Electronics
- Bluetooth Low Energy for Sports and Fitness
- Bluetooth Low Energy for Automotive
- Bluetooth Low Energy for Healthcare
- Bluetooth Low Energy for Industry Automation
- Bluetooth Low Energy for Sensing
- Bluetooth Low Energy for Medical Applications
By Region:
- North America Bluetooth Low Energy Market
- Latin America Bluetooth Low Energy Market
- Europe Bluetooth Low Energy Market
- Asia Pacific Bluetooth Low Energy Market
- Middle East and Africa Bluetooth Low Energy Market
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