Bluetooth 5.0 Market Size, Industry Trends, Business Opportunities, Strategies, Key Players Analysis and Forecast 2030
The global Bluetooth 5.0 market size reached USD 3.45 Billion in 2021 and is expected to register a revenue CAGR of 10.8% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for connected wearables is the key factor driving market revenue growth.
Bluetooth 5.0 is becoming more popular as it contributes significantly to secure, reliable, and trustworthy IoT and wireless connectivity technology. The rapid evolution of connectivity technology inclines the demand for training, service, and support. In addition, it is far more robust in terms of audio streaming than its predecessors, such as Bluetooth 4.2. Bluetooth 5.0 is regarded as a reliable technology because it allows for the transmission of eight times more data at twice the speed and over four times the range. Bluetooth 5.0’s increased bandwidth allows for the simultaneous broadcasting of two devices. This means that the user can stream another audio program, send audio to different rooms, start creating a stereo effect, or share audio among two sets of headphones.
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The medical sector is changing owing to the adoption of Bluetooth 5.0 in recent years. The healthcare reforms that focus on increasing the effectiveness and efficiency of the current system are the most significant. Healthcare costs are still being constrained by budget cuts and population growth. Hospitals, researchers, non-profit organizations, and the government are working to find solutions to the problem of providing healthcare coverage to everyone. Bluetooth low energy is at the frontline of healthcare technology, and the latest Bluetooth 5.0 advancements expand the possibilities for future healthcare administration.
The latest study provides an insightful analysis of the broad competitive landscape of the global Bluetooth 5.0 market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Bluetooth 5.0 market and pinpoint the fundamental growth trends.
Companies profiled in the global Bluetooth 5.0 market:
Nordic Semiconductor, Texas Instruments, Silicon Labs, Microchip Technology Inc., NXP Semiconductors, STMicroelectronics, Infineon Technologies AG, Qualcomm Technologies, Inc., Renesas Electronics Corporation, Espressif Systems, Semiconductor Components Industries, LLC, and Atmosic Technologies.
Key Parameters Analyzed in This Section:
Product sales trends
Sales & distribution channels
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Some Key Highlights from the Report
Hardware segment revenue is expected to increase at a steady revenue growth rate over the forecast period owing to the rising demand for hardware implementations for a Bluetooth adapter. To modulate and demodulate the digital signal, Bluetooth uses a transmitter, a receiver, and control chips that resemble modems. The rising demand for hardware in Bluetooth 5.0 drives the revenue growth of this segment.
The device network segment is expected to register a steady revenue growth rate over the forecast period due to the growing adoption of Bluetooth networking solutions in many devices. It is appropriate for monitoring, control, and automation systems in many devices that must communicate reliably and securely with one another. Bluetooth mesh networking has been improved for large-scale device networks that automate entire buildings.
Market in North America accounted for the largest revenue share in the global Bluetooth 5.0 market in 2021 because of the increasing development of IoT and the increasing use of wearable devices in countries throughout the region, particularly in the United States and Canada. The region is known for its fast adoption of new innovative technologies such as the Internet of Things (IoT), wearable technology, smart cities, smart agriculture, connected cars, and many more. North America is expected to have 5.4 billion IoT connections by 2025.
The report offers insightful information about the market dynamics of the Bluetooth 5.0 market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Bluetooth 5.0 market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Bluetooth 5.0 market.
Emergen Research has segmented the global Bluetooth 5.0 market on the basis of component, application, end-use, and region:
- Component Outlook (Revenue, USD Billion; 2019-2030)
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Location Services
- Device Networks
- Data Transfer
- Audio Streaming
- End-Use Outlook (Revenue, USD Billion; 2019-2030)
- Retail and Logistics
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Research Report on the Bluetooth 5.0 Market Addresses the Following Key Questions:
Who are the dominant players of the Bluetooth 5.0 market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Bluetooth 5.0 market?
What are the key growth drivers and restraining factors of the Bluetooth 5.0 market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Bluetooth 5.0 market and its key segments?
Regional Outlook of Bluetooth 5.0 Market:
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of MEA
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