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Bluetooth IC Industry Until 2027
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Overview
Bluetooth refers to the standardized protocol that enables the transmission of data wirelessly over different communication networks. It allows electronic devices to connect as well as interact with other electronic devices. The secure protocol is especially ideal for the low-power, short-range, and inexpensive wireless transmission between the different electronic devices. The Bluetooth IC finds a wide range of applications in the number of electronic devices like the loudspeakers, smartphones, cars, and laptops. The global Bluetooth IC Market is expected to witness prolific growth during the forecast period.
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The Bluetooth sensors are capable of collecting and sharing data with the different applications that are stored on the Bluetooth devices or the cloud platform. The Bluetooth devices basically act as the facilitating hub that enables the data transmission and sends commands to the different peripheral devices. The increase in the demand for mobility and infotainment services are the key driving factors for the growth of the global market of Bluetooth IC. The increasing adoption of wireless technologies and smart wearable will further foster the growth of the global Bluetooth IC market.
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The lower power consumption and better functionality of the Bluetooth devices is yet another major driver for the growth of the global market. The miniaturization of ICs will further accelerate the growth of the global Bluetooth IC market. The global market of Bluetooth IC is expected to reach a CAGR of 18.56% during the forecast period. However, the continuous evolution of communication technology is likely to hinder the growth of the global Bluetooth IC market. Further, the integration of the different intellectual property blocks for the system-on-a-chip (SOC) design will hamper the growth of the global market.
Market Segmentation
The global market of Bluetooth IC is segmented on the basis of type, application, and geographical region.
On the basis of device type, the global Bluetooth IC market is divided into Bluetooth 4.2, Bluetooth 4.0, Bluetooth 5, and others. Bluetooth 4.0 is the largest market shareholder in the global market of Bluetooth IC.
Based on application, the global market of Bluetooth IC is classified into audio devices, smart homes, remote controls, health and fitness, beacons, industrial, human interface devices (HID), automotive, and others. The smart home segment occupies the largest share in the global market. The smart home segment is expected to grow further during the forecast period.
Regional Segmentation
Based on the geographical region, the global market of Bluetooth IC is divided into Central and South America, North America, Middle, and East Africa, Europe, and the Asia Pacific.
The Asia Pacific region occupies the dominating position in the global Bluetooth IC market and is expected to continue holding its position during the forecast period. Taiwan and China are the major contributors to the expansion of the Asia Pacific market. The region of North America is also projected to experience significant growth during the forecast period. The presence of key semiconductor companies in the North America region is the key driver of market growth.
Industry News
In October 2019, Microchip made a launch of dual-mode IC that is Bluetooth 5.0 certified. It is ideal to be used in audio solutions. The IS2083 IC comes with flash memory and a power amplifier in order to ensure that it is supported in the LDAC technology of the popular brand Sony.
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