By Type :

Based 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.

By Bluetooth Type :

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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By 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 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.

By 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. 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.

By 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. 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.