The global bluetooth low energy market is projected to exceed US$ 9,523.0 million in 2023, with a predicted growth rate of 12.5% from 2023 to 2033, reaching an estimated US$ 31,015.5 million by 2033. In the period from 2018 to 2022, the market saw a consistent annual growth rate of 10.4%.
The growth in this sector can be attributed to the rising demand for devices that offer extended battery life and consume minimal power. These devices are mainly used for short-range data streaming, and they cater to the Internet of Things (IoT) enabled machines, which are prevalent in the consumer electronics and automotive industries. These machines typically require occasional and low-volume data transfers.
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Bluetooth low energy module is a popular and enhanced version of existing Bluetooth invention. Bluetooth low energy module is an open standard that is commonly used for short-range remote communication between devices.
Bluetooth low energy module is primarily concerned with a few factors such as low energy, small size, and battery operated sensor type application. Furthermore, bluetooth low energy modules are designed for a fixed amount of data rather than intermittent data streaming.
Bluetooth low energy module is particularly created to address the expanding need of cutting edge remote applications like quick network of gadgets, super low power utilization, dependability, and security. Besides, bluetooth low-energy modules are additionally embraced for home mechanization and car areas.
Bluetooth Low Energy: Drivers and Challenges
The major factor driving the market growth of Bluetooth low energy modules will be the surge in usage of the Internet of things (IoT). The concept of the Internet of things is rapidly growing in enterprises, aiming to interconnect each and every unconnected thing including persons and machines to cast interconnecting networks such as machine-to-machine (M2M), people-to-people (P2P) and machine-to-people (M2P) using wireless sensors network.
Some of the major players like Nordic Semiconductors and Cambridge Silicon Radio are offering development kits for establishing wireless applications instantly without any finesse of radio frequency connectivity. Moreover, Bluetooth low energy modules are likely to boost significant traction owing to rising demand for consumer electronics
The major challenge faced by the Bluetooth low energy market is the low data streaming capacity of low energy bluetooth modules.
Bluetooth Low Energy Market: Regional Overview
Presently, North America and the European region are holding the largest market share of the Bluetooth low energy market owing to the rise in urbanization and high adoption of consumer electronics devices.
In the Asia Pacific region, the Bluetooth low-energy market is witnessing positive growth owing to rapid industrialization and heavy demand for Bluetooth-enabled devices.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, applications, and industries.
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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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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