Insights on the Bluetooth 5.0 Global Market to 2028 - Wide Variety of Bluetooth Location Service Devices is Driving Growth

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Dec 06, 2022, 11:30 ET

DUBLIN, Dec. 6, 2022 /PRNewswire/ -- The "Global Bluetooth 5.0 Market Size, Share & Industry Trends Analysis Report by Component, Application, End-user, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Bluetooth 5.0 Market size is expected to reach $7.6 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.

The Bluetooth Special Interest Group (SIG), which includes more than 35,000 members from the telecommunications, computing, networking, and consumer electronics industries, is responsible for managing Bluetooth. It was standardized as IEEE 802.15.1, but the IEEE no longer upholds the standard.

The Bluetooth SIG is in charge of managing the qualification process, developing the specification, and defending trademarks. To sell a product as a Bluetooth device, the manufacturer must adhere to Bluetooth SIG standards. The technique is covered by a network of patents, which are licensed to specific qualifying devices.

On December 6, 2016, the Bluetooth SIG announced Bluetooth 5.0, New Internet of Things technology is the main emphasis of its new features. With its Xperia XZ Premium, Sony was the first to reveal Bluetooth 5.0 functionality in February 2017 at the Mobile World Congress. In April 2017, the Samsung Galaxy S8 went on sale with Bluetooth 5 compatibility. With Bluetooth 5 capability, the iPhone 8, 8 Plus, and iPhone X were introduced in September 2017.

COVID-19 Impact Analysis

The COVID-19 pandemic caused a health crisis and continues to have an impact on all facets of professional and personal life. The COVID-19 pandemic affected a wide range of industries, and at the time of its commencement, analysts were unable to foresee the full effect the pandemic would have on market estimates.

Despite the fact that several Bluetooth markets have had slower growth than anticipated, according to the recently published 2021 Bluetooth Market Update, analysts expect to see annual growth pick up as head towards 2021. Some Bluetooth markets discovered an opportunity to prosper during this difficult period. Bluetooth PC accessories grew as more people across the world started working from home.

Market Growth Factors

A Wide Variety of Bluetooth Location Service Devices Are Available

Bluetooth technology is widely used as a device positioning solution to meet the increasing demands for high-accuracy indoor location services in a variety of applications, including personal item finding, indoor navigation, asset tracking, and digital keys. A Bluetooth device can identify the location, size, and direction of other devices.

It offers versatility unmatched by any other positioning radio, enabling owners and managers of buildings to scale indoor positioning solutions to meet shifting building requirements. For the best resource and inventory control, commercial and industrial establishments are increasingly turning to Bluetooth asset management systems.

When it comes to Bluetooth Location Services, RTLS and tags have taken the lead in propelling continuing growth of the Bluetooth 5.0 market.

The Utilization and Output of Smartphones Are Increasing

Government support for the production of smartphones is progressively increasing. Imports of smartphones raise the price of cell phones, preventing their widespread use. Modern technology advancements like Android smartphones and smart living are gradually affecting people's lives.

The short-wavelength radio transmissions used by Bluetooth technology, which aims to exchange data wirelessly over short distances, are supplying the essential technology for convenience, intelligence, and controllability. This proposes and prototypes a novel Smart Living system dubbed a home lighting control system using an Android smartphone with Bluetooth.

Market Restraining Factors

Interference with Bluetooth Packets

For every wireless system, interference has been one of the main obstacles to enabling dependable data connectivity. Since Bluetooth and Wi-Fi devices and other wireless technologies share a transmission medium, a data packet can be damaged or destroyed during transmission if it collides with another packet that is also being communicated at the same time and on the same frequency channel.

A proposed interference awareness technique is based on the BLE connection's packet state. To identify interference as soon as feasible in the BLE connection, many properties of each packet sent and received are tracked.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenarios
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints

Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.3.2 Key Strategic Move: (Product Launches and Product Expansions: 2019, Mar - 2023, Apr) Leading Players

Chapter 4. Global Bluetooth 5.0 Market by Component
4.1 Global Hardware Market by Region
4.2 Global Software Market by Region
4.3 Global Services Market by Region

Chapter 5. Global Bluetooth 5.0 Market by Application
5.1 Global Audio Streaming Market by Region
5.2 Global Data Transfer Market by Region
5.3 Global Location Services Market by Region
5.4 Global Device Networks Market by Region

Chapter 6. Global Bluetooth 5.0 Market by End User
6.1 Global Retail & Logistics Market by Region
6.2 Global Smart Home/Building Market by Region
6.3 Global Consumer Electronics Market by Region
6.4 Global Automotive Market by Region
6.5 Global Wearables Market by Region
6.6 Global Healthcare Market by Region
6.7 Global Industrial Measurements & Diagnostics Market by Region
6.8 Global Others Market by Region

Chapter 7. Global Bluetooth 5.0 Market by Region

Chapter 8. Company Profiles
8.1 QUALCOMM Incorporated (Qualcomm Technologies, Inc.)
8.1.1 Company Overview
8.1.1 Financial Analysis
8.1.2 Segmental and Regional Analysis
8.1.3 Research & Development Expense
8.1.4 Recent strategies and developments:
8.1.4.1 Product Launches and Product Expansions:
8.1.4.2 Acquisition and Mergers:
8.2 MediaTek, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expenses
8.3 Nordic Semiconductors ASA
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Partnerships, Collaborations, and Agreements:
8.4 STMicroelectronics N.V.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Product Launches and Product Expansions:
8.4.5.2 Acquisition and Mergers:
8.4.6 SWOT Analysis
8.5 Texas Instruments, Inc.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expense
8.5.5 SWOT Analysis
8.6 Microchip Technology, Inc.
8.6.1 Company overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expenses
8.7 NXP Semiconductors N.V.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Product Launches and Product Expansions:
8.7.5.3 Acquisition and Mergers:
8.7.6 SWOT Analysis
8.8 ON Semiconductor Corporation
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Research & Development Expense
8.8.5 Recent strategies and developments:
8.8.5.1 Acquisition and Mergers:
8.9 Synopsys, Inc.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental and Regional Analysis
8.9.4 Research & Development Expense
8.9.5 Recent strategies and developments:
8.9.5.1 Partnerships, Collaborations, and Agreements:
8.10. Qorvo, Inc.
8.10.1 Company Overview
8.10.2 Financial Analysis
8.10.3 Segmental and Regional Analysis
8.10.4 Research & Development Expenses
8.10.5 Recent strategies and developments:
8.10.5.1 Acquisition and Mergers: