Report ID : CBI_1200 |
Base Year: | 2022 |
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CAGR: | 14.7% |
Forecast Year: | 2023 - 2030 |
Revenue 2022: | $7,320.11 Mn |
Revenue 2030: | $21,540.92 Mn |
Bluetooth IC Market is estimated to reach over USD 21,540.92 Million by 2030 from a value of USD 7,320.11 Million in 2022, growing at a CAGR of 14.7% from 2023 to 2030.
Bluetooth integrated circuit is a computer chip used in wireless devices to provide Bluetooth technology. The Bluetooth IC comprises of various features including low energy usage, proprietary security protocols, high bandwidth for data transfer, and others. Additionally, Bluetooth IC is used for wireless functioning including data transfer, pairing, and security. The various types of Bluetooth IC include Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, Bluetooth audio codec, and others. The Bluetooth IC is used for various devices including medical devices, mobile phones, hearing devices, and others.
The rising technological advancements in Bluetooth technology for wireless Bluetooth devices are promoting the growth of Bluetooth IC market. The technological advancement in Bluetooth technology includes integration of Bluetooth with Wifi to enhance the functionality of wireless devices. Additionally, increasing developments of integrated devices with various technologies including Bluetooth, WiFi, and others are promoting the growth of Bluetooth IC market. For instance, in April 2023, Texas Instruments Incorporated launched CC330x SimpleLink Wi-Fi 6 and Bluetooth Low Energy companion IC for medical devices, home appliances, building automation, and grid infrastructure. The CC330x SimpleLink features power management, enhanced security, multirole support, and others.
Additionally, increasing adoption of advanced technologies is propelling the growth of Bluetooth IC market. For instance, in 2021, Toshiba Corporation developed and started shipping the world's smallest Bluetooth Low Energy module with SASP technology. The module helps to deliver short distance connectivity to the wireless devices. The module is used for smart watches, wearable devices, and in-ear devices to lower power consumption.
Therefore, increasing technological developments in Bluetooth technology are boosting the growth of Bluetooth IC market.
The rising adoption of advanced Bluetooth technology for automotive and industrial applications is promoting the growth of Bluetooth IC market. Bluetooth ICs are widely used in automotive industry for automotive air conditioning systems, mirror adjustment, seat adjustment, audio system, and others. Additionally, increasing demand for advanced technologies for audio devices is boosting the growth of Bluetooth IC market. For instance, in January 2022, NXP Semiconductors launched IW612, tri-radio device, to support Bluetooth 5.2 and WiFi 6. Moreover, Bluetooth IC helps to provide secure and seamless connectivity to the devices for automotive and industrial applications.
Thus, increasing adoption of advanced Bluetooth technology for automotive and industrial applications is propelling the growth of Bluetooth IC market.
The increasing security concern for data privacy and data protection is hindering the growth of Bluetooth IC market. The rising cybercrime events including data breaches through Bluetooth access are hampering the growth of Bluetooth IC market. Additionally, compatibility issues of Bluetooth with different devices or platforms are limiting the growth of Bluetooth IC market. Moreover, increasing price range and reduction in profit margin for Bluetooth IC are hampering the growth of Bluetooth IC market.
The rising investments for energy efficient Bluetooth technology to lower power consumption will strengthen the growth opportunities for Bluetooth IC market. For instance, in January 2022, Atmosic, wireless connectivity solution provider, announced USD 72 million additional funding and launch of ATM33 Series Bluetooth 5.3 to offer energy efficiency for wireless products. The additional funding and introduction of energy efficient Bluetooth technology helps Atmosic to strengthen the footprints in IoT industry.
Therefore, increasing investments and introduction of energy efficient Bluetooth technology to lower power consumption will create growth opportunities for Bluetooth IC market.
Report Attributes | Report Details |
Study Timeline | 2017-2030 |
Market Size in 2030 | USD 21,540.92 Million |
CAGR (2023-2030) | 14.7% |
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 |
By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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 |
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Download Sample ReportBased on type, the market is classified as Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, and others. The Bluetooth RF transceiver segment accounted for the largest revenue share in the year 2022 due to increasing adoption of Bluetooth technology for data transmission. The Bluetooth RF transceiver acts as both data transmitter and data receiver. The RF transceiver type of Bluetooth IC transmits and receives the data through radio waves. Therefore, rising adoption of Bluetooth technology for data transmission is promoting the growth of Bluetooth RF transceiver segment in Bluetooth IC market.
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 to lower power consumption. The power controller Bluetooth IC helps to lower the power consumption of the devices by managing components inside the device to lower the power consumption. For instance, in April 2023, Renesas Electronics Corporation launched microcontroller (MCU) with advanced 22-nm process technology. The microcontroller delivers Bluetooth 5.3 Low Energy to offer low power consumption solution for wireless devices. Thus, rising demand for energy efficient Bluetooth technology is boosting the growth of Bluetooth power controller segment in Bluetooth IC market.
Based on the Bluetooth type, the market is divided into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5.0, and others. The Bluetooth 4.0 segment accounted for the largest revenue share in the year 2022. Bluetooth 4.0 offers various advantages including fast pairing, low power consumption, and low latency communication. Additionally, Bluetooth 4.0 is compatible with mobile devices and computers and helps in data transmission and communication. Therefore, increasing demand for Bluetooth 4.0 for fast pairing and seamless communication is propelling the growth of Bluetooth 4.0 segment in Bluetooth IC market.
The Bluetooth 5.0 segment is anticipated to witness the fastest CAGR growth during the forecast period due to increasing demand for advanced technologies for data transmission. Bluetooth 5.0 is used for audio devices and wireless headphones. The increasing adoption of home audio systems and growing adoption of noise cancellation headphones for entertainment purposes are propelling the demand for Bluetooth 5.0 segment. Therefore, rising demand for wireless and wearable devices is propelling the growth of Bluetooth 5.0 segment in Bluetooth IC market.
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Download Sample ReportBased on the application, the market is classified as audio devices, human interface devices, beacon, wireless consumer electronics, and others. The beacon segment accounted for the largest revenue share in the year 2022 and is also expected to grow with the fastest CAGR during the forecast period. Bluetooth IC helps beacon in faster communication over shorter range. Bluetooth IC also helps the beacon devices to connect with mobile devices for fast communications and location access. Additionally, increasing technological advancements in Bluetooth beacon is promoting the growth of beacon segment in Bluetooth IC market. For instance, in March 2020, Fujitsu launched Bluetooth 5 beacons and sensor beacons to offer faster communication, lower power consumption, and increased data communication capabilities. Therefore, increasing demand for fast communication and rising technological advancements are propelling the growth of beacon segment in Bluetooth IC market.
Based on the end user, the market is categorized as consumer electronics, automotive, IT and telecommunication, healthcare, aerospace and defense, and others. The consumer electronics segment accounted for the largest revenue share in the year 2022 is also expected to grow with the fastest CAGR during the forecast period. The Bluetooth IC is used for various devices including home appliances, home audio devices, laptops, desktops, mobile devices, wireless wearable devices, and others. The consumer electronics sector is one of the rapidly growing industries. For instance, according to Invest India, National Investment Promotion and Facilitation Industry, consumer electronics holds 12% of total domestic production of electronics in India. Thus, rising adoption of consumer electronics is promoting the demand for Bluetooth IC. Further, increasing adoption of Bluetooth technology for smart homes and building automation is promoting the growth of consumer electronics segment in Bluetooth IC market. Furthermore, rising demand for advanced Bluetooth technology for commercial applications is propelling the growth of consumer electronics segment in Bluetooth IC market.
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regional Growth Insights
Download Sample ReportNorth America region accounted for major market share in Bluetooth IC market due to inclination towards smart homes and luxurious lifestyle which in turn propels the demand for Bluetooth IC. Further, the rising technological developments to lower power consumption and seamless data transmission are driving the growth of Bluetooth IC market in North America region.
Asia Pacific accounted for revenue of USD 1,764.88 Million in 2022 and is anticipated to witness the fastest CAGR growth during the forecast period to reach USD 5,383.08 Million by 2030. The revenue growth is highlighted due to rising technological advancements in the region. Additionally, based on country wise shares, China is valued to hold largest market share of 28.6% in the year 2022.
Additionally, the rising adoption of advanced Bluetooth technology for real time location system and fast communications is promoting the growth of Bluetooth IC market in Asia Pacific region. For instance, November 2022, Asahi Kasei Microdevices Corporation introduced AK1595A Bluetooth Low Energy transmission IC. The Bluetooth IC is featured with low power consumption, direction finding function, asset tracking indoor positioning, and real time location system (RTLS).
Therefore, increasing adoption of advanced technologies for fast communication and lower power consumption is propelling the growth of Bluetooth IC market in Asia Pacific region.
Details Countries Growth Insights
Download Sample ReportThe Bluetooth IC Market is highly competitive due to the presence of a large number of key players operating in the market. The report analyses detailed profiles of the major players operating in the industry. Further, the surge in Research and Development (R&D), product innovation, various business strategies, and application launches have accelerated the growth of the robotic process automation market. Key players in the robotic process automation market include-
Bluetooth IC is a chip used to provide Bluetooth technology for wireless devices. Bluetooth IC is used for fast communication, data transfer, lowering the power consumption, pairing, and security. The Bluetooth IC is categorized into various types including Bluetooth IC include Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, Bluetooth audio codec, and others.
The report consists of segments including type, Bluetooth type, application, and end user. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by type segment has Bluetooth power controller segment witnessing fastest growth during the forecast period.
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 consumer electronics witnessed largest share in Bluetooth IC market.
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.