Bluetooth IC Market Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

Based on the Type :

Based on type, the market is classified as Bluetooth baseband controller, Bluetooth RF transceiver, Bluetooth audio controller, Bluetooth power controller, and others. In 2022, the Bluetooth RF transceiver segment accounted for the highest bluetooth IC market share 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 transmits and receives the data through radio waves. Analysis of bluetooth IC market trends concludes that the rising adoption of Bluetooth technology for data transmission is promoting the proliferation of Bluetooth RF transceiver segment in the market.

The Bluetooth power controller segment is anticipated to witness the fastest CAGR growth during the forecast period due to increasing requirements of energy efficient Bluetooth technology to lower power consumption. The power controller 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 need for energy efficient Bluetooth technology is boosting the bluetooth IC market growth.

Based on the Bluetooth Type :

Based on the Bluetooth type, the market is divided into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5.0, and others. In 2022, the Bluetooth 4.0 segment accounted for the highest bluetooth IC market share. 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 need of Bluetooth 4.0 for fast pairing and seamless communication is propelling the proliferation of Bluetooth 4.0 segment in the market.

The Bluetooth 5.0 segment is anticipated to witness the fastest CAGR growth during the forecast period due to increasing need for advanced technologies for data transmission. Bluetooth 5.0 is used for audio devices and wireless headphones. Analysis of bluetooth IC market trends concludes that 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 need for wireless and wearable devices is propelling the bluetooth IC market growth.

Based on the Application :

Based 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 help beacon in faster communication over shorter range. It also helps the beacon devices to connect with mobile devices for fast communications and location access. Assessment of market trends suggests that the increasing technological advancements in Bluetooth beacon is promoting the proliferation of beacon segment in the 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. The bluetooth IC market analysis concluded that the increasing demand for fast communication and rising technological advancements are propelling the proliferation of beacon segment in the market.

Based on the End-User :

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. Examination of market trends concludes that the 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 expansion of consumer electronics segment in the market. The bluetooth IC market analysis concluded that the rising demand for advanced Bluetooth technology for commercial applications is propelling the growth of consumer electronics segment in the market.

Based on the Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North 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. Evaluation of market trends suggest that the rising technological developments to lower power consumption and seamless data transmission are driving the market proliferation 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, 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 market expansion 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 market proliferation in Asia Pacific region.