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Bluetooth IC Market Estimates 2020−2027
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Market Highlights
Global Bluetooth IC Industry is expected to depict a significant market growth during the Forecast Period.
Bluetooth is a wireless communication standard, which allows electronic devices to connect and interact with each other. It is a protocol that facilitates connectivity in a range of electronic devices such as smartphones, loudspeakers, laptops, and cars. Bluetooth technology also offers developers a powerful, secure, low-power and low-cost wireless communications specification. Bluetooth sensors collect and share data with applications stored directly on Bluetooth compatible devices or on the cloud. Most of the Bluetooth ready devices support Bluetooth Low Energy (BLE) technology that allows other devices to connect with them by installing specific drivers in these devices. In this manner, the primary Bluetooth device acts as a hub that facilitates the transmission of data and commands to peripheral devices. Increasing demand for mobility and growing demand for infotainment services are major factors driving the growth of the Bluetooth IC market. Moreover, low power consumption of Bluetooth low energy devices along with better functionality are other factors driving the growth of the Bluetooth IC market.
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The Global Bluetooth IC Market has been segmented on the basis Of Type, Application, and Region.
Key Players
The Key Players in the Bluetooth IC market are identified across all the major regions based on their countries of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Texas Instruments Incorporated (US), Nordic Semiconductor (Norway), Dialog Semiconductor (UK), Cypress Semiconductor (US), Realtek Semiconductor Corp. (Taiwan), Asahi Kasei Microdevices Corporation (Japan), Renesas Electronics (Japan), STMicroelectronics (Netherlands), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Silicon Laboratories, Inc. (US), Microchip Technology Inc. (US), NXP Semiconductors NV (Netherlands), Telink Semiconductor (China), and Murata Manufacturing Co., Ltd. (Japan). The companies are focused on innovating in their existing product portfolio as well as launching new products by investing in research and development to analyze the changing market trends.
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Regional Analysis
The market for Bluetooth IC is estimated to register significant growth during the forecast period from 2019 to 2025. The geographic analysis of the Bluetooth IC market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. According to MRFR analysis, the Asia-Pacific region dominated the global market in 2018 and is expected to maintain its dominance during the forecast period. The demand for portable devices from individuals has encouraged the chip and module manufacturers to escalate the production of Bluetooth chips for applications in consumer electronics and other industries. In addition to this, the region has also witnessed a major concentration of chip manufacturers in China and Taiwan; this is expected to fuel the growth of Bluetooth IC market in the Asia-Pacific region. On the flip side, the presence of major semiconductor companies such as Qualcomm Incorporated, Texas Instruments Incorporated, Silicon Laboratories, Inc., and Microchip Technology Inc. in North America is expected to accelerate the growth of this region during the forecast period 2019–2025.
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