New York, Aug. 30, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Bluetooth IC Market” published by Consegic Business Intelligence, the market was worth USD 7,320.11 Million in 2022 and is anticipated to reach over USD 21,540.92 Million by the year 2030, growing at a CAGR of 14.7%. This growth is attributed to the increasing demand for advanced Bluetooth technology for automotive and industrial applications. The market is also driven by rising home automation.
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Bluetooth IC is a small computer chip used to provide fast pairing for wireless devices. The Bluetooth IC chips work on short wave radio frequency technology. Bluetooth IC is used for data transfer, security, communication in various devices including audio devices, wireless consumer electronics, beacon, and others.
Furthermore, the various types of Bluetooth IC include Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, Bluetooth audio codec, and others.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 21,540.92 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 14.7% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Texas Instruments Incorporated, Nordic Semiconductor, STMicroelectronics, Toshiba Corporation, Qualcomm Incorporated, NXP Semiconductors NV, Panasonic, Realtek Semiconductor Corp, Renesas Electronics, Telink Semiconductor, Silicon Laboratories, Inc., Microchip Technology Inc, Asahi Kasei Microdevices Corporation, Murata Manufacturing Co., Ltd, MediaTek Inc., Maxim Integrated, Taiyo Yuden Co., Ltd., Semiconductor Components Industries, LLC |
| By Type | Bluetooth Baseband Controller, Bluetooth RF Transceiver, Bluetooth Audio Controller, Bluetooth Power Controller, and Others |
| By Bluetooth Type | Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5.0, and Others |
| By Application | Audio Devices, Human Interface Devices, Beacon, Wireless Consumer Electronics, Others |
| By End User | Consumer Electronics, Automotive, IT and Telecommunication, Healthcare, Aerospace and Defense, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Geography | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
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Global Bluetooth IC Market Growth Drivers: Rising demand for advanced Bluetooth technology for fast communication and low power consumption is driving the growth of Bluetooth IC market
The increasing demand for advanced Bluetooth technology for fast pairing, fast communication, and low power consumption is promoting the growth of Bluetooth IC market. Additionally, increasing adoption of advanced Bluetooth technology for automotive and other industrial applications is propelling the growth of Bluetooth IC market.
Restrains: Increasing security concern is hindering the growth of Bluetooth IC market
The rising security concern for data privacy and data protection is hindering the growth of Bluetooth IC market. Additionally, increasing pricing and reducing profit margin for Bluetooth is limiting the growth of Bluetooth IC market.
Opportunity: Rising investments for upgradation of Bluetooth technology will create growth opportunities for Bluetooth IC market
The increasing investments for Bluetooth upgradation will strengthen growth opportunities for Bluetooth IC market. Additionally, increasing demand for energy efficient Bluetooth technology to lower power consumption will create growth opportunities for Bluetooth IC market.
Global Bluetooth IC Market Segmentation Details:
Based on Type, the Bluetooth power controller segment is anticipated to witness the fastest CAGR growth during the forecast period due to increasing demand for energy efficient Bluetooth technology. Additionally, increasing demand for advanced Bluetooth technology to lower power consumption rate is promoting the growth of Bluetooth power controller segment in Bluetooth IC market.
Based on Bluetooth type, Bluetooth 5.0 segment is expected to grow during the forecast period due to increasing adoption of advanced technologies for data transmission. Additionally, increasing adoption of wireless and wearable devices is propelling the growth of Bluetooth 5.0 segment in Bluetooth IC market.
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Based on Application, beacon segment accounted for major market share in Bluetooth IC market in the year 2022 due to increasing technological advancements in Bluetooth. Additionally, increasing demand for advanced Bluetooth technology for fast communication and seamless location access is promoting the growth of robotics segment in Bluetooth IC market.
Based on End User, the consumer electronics segment accounted for the largest market share in the year 2022 due to rising adoption of smart home and building automation. Additionally, increasing inclination towards smart home appliances and smart devices is promoting the growth of consumer electronics segment in Bluetooth IC market.
Based on region, North America holds major market share of Bluetooth IC market due to increasing home automation and rising technological advancements to lower power consumption rate of electronic devices. Moreover, increasing inclination towards smart homes is boosting the growth of Bluetooth IC market in North America region.
Recent Developments
- In March 2023, Murata Manufacturing Co., Ltd. Bluetooth LE module with low power consumption for IoT application. The module supports Bluetooth 5.2 with high transmit rate. The module is featured with secured data communication and long battery life.
Key Market Highlights
- Globally, Bluetooth IC are divided based on the type into Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, and others.
- In the context of Bluetooth type, the market is separated into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5.0, and others.
- On the basis of application, the market is categorized into audio devices, human interface devices, beacon, wireless consumer electronics, and others.
- In the context of end user, the market is divided into consumer electronics, automotive, it and telecommunication, healthcare, aerospace and defense, and others.
- The market is geographically divided into five regions: Europe, Latin America, the Asia-Pacific, North America, and the Middle East and Africa.
- Asia Pacific is estimated to support the market growth during the forecast period in terms of the technological advancements in Bluetooth technology.
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List of Major Global Bluetooth IC Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
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- Texas Instruments Incorporated
- Nordic Semiconductor
- STMicroelectronics
- Toshiba Corporation
- Qualcomm Incorporated
- NXP Semiconductors NV
- Panasonic
- Realtek Semiconductor Corp
- Renesas Electronics
- Telink Semiconductor
- Silicon Laboratories, Inc
- Microchip Technology Inc
- Asahi Kasei Microdevices Corporation
- Murata Manufacturing Co., Ltd
- MediaTek Inc.
- Maxim Integrated
- Taiyo Yuden Co., Ltd.
- Semiconductor Components Industries, LLC
Global Bluetooth IC Market Segmentation:
- By Type
- Bluetooth Baseband Controller
- Bluetooth RF Transceiver
- Bluetooth Audio Controller
- Bluetooth Power Controller
- Others
- By Bluetooth Type
- Bluetooth 4.0
- Bluetooth 4.2
- Bluetooth 5.0
- Others
- By Application
- Audio Devices
- Human Interface Devices
- Beacon
- Wireless Consumer Electronics
- Others
- By End User
- Consumer Electronics
- Automotive
- IT and Telecommunication
- Healthcare
- Aerospace and Defense
- Others
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Key Questions Covered in the Bluetooth IC Market Report
- What is Bluetooth IC Market?
- Bluetooth IC is a small chip used for fast pairing and fast communication. The Bluetooth IC helps to provide seamless data transmission and lower power consumption for wireless devices. Additionally, Bluetooth IC is used to offer secured data transmission.
- What specific segmentation details are covered in the Bluetooth IC market report, and how is the fastest segment anticipated to impact the market growth?
- The report consists of segments including type, Bluetooth type, application, and end user. Each segment is projected to have the fastest-growing sub-segment being fuelled by industry trends and drivers. For instance, by application segment has beacon witnessed fastest growth in Bluetooth IC market.
- What specific segmentation details are covered in the Bluetooth IC Market report, and how is the dominating segment impacting the market growth?
- The report consists of segments including type, Bluetooth type, application, and end user. Each segment is projected to have the fastest-growing sub-segment being fuelled by industry trends and drivers. For instance, by type segment has Bluetooth RF transmitter witnessed largest share in Bluetooth IC market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- The Asia-Pacific region is anticipated to witness fastest CAGR growth during the forecast period due to the increasing demand for consumer electronics in the region.
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