The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Bluetooth IC Market Growth. The growth sectors of the Bluetooth IC Market Growth are identified with precision for a better growth perspective.
According to Market Research Future, the global Bluetooth IC market has been segmented on the basis of type, application, and region.
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By type, the global Bluetooth IC market has been segmented into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5, and others. With advances in Bluetooth 4.0 to achieve Bluetooth 4.1, 4.2, and Bluetooth 5, there have been significant changes in the data transfer speeds, power consumption, costs, and efficiency of Bluetooth ICs. Bluetooth 4.0, often known as Bluetooth Low Energy (BLE) or Bluetooth Smart is largely adopted in healthcare, beacons, security, and home entertainment devices. Therefore, the market for Bluetooth 4.0 dominated the global market in 2018 and it is expected to witness significant growth during the forecast period. Bluetooth 5 is the latest evolution in the Bluetooth technology providing maximum throughput, high speed and bandwidth, low energy consumption, and significant mesh range in a network when compared to other Bluetooth technology segments. These chips are highly implemented in automation and the Internet of Things (loT) applications. Thus, the segment is expected to witness the fastest growth during the forecast period 2019–2025.
Based on application, the global Bluetooth IC market has been segmented into smart homes, beacons, audio devices, health & fitness, human interface devices (HID), remote controls, automotive, industrial, and others. Advancements in automation and proliferation of portable electronic devices have accelerated the adoption of Bluetooth ICs for several applications. Among the above-mentioned segments, the market for smart homes dominated the global market in 2018 and is estimated to maintain its dominance during the forecast period. On the other hand, the market for automotive applications is expected to witness the fastest growth during the forecast period 2019–2025. Bluetooth ICs are used in ADAS and infotainment systems to transfer data across vehicles and base stations.
By region, the global Bluetooth IC market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. Among these regions, the Asia-Pacific region dominated the global Bluetooth IC market in 2018 and is estimated to maintain its dominance during the forecast period 2019–2025. The market has observed a high concentration of chip manufacturing companies including Toshiba Corporation, Realtek Semiconductor Corp., and Asahi Kasei Microdevices Corporation in Taiwan and Japan. This has contributed to the growth of the overall market in Asia-Pacific. On the other hand, the North American region is expected to witness the fastest growth in the global market during the forecast period 2019–2025. Increasing adoption of smart wearables and rising smart city initiatives in the US and Canada is expected to propel the growth of Bluetooth IC market in North America.
The key players in the Bluetooth IC market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are Realtek Semiconductor Corp. (Taiwan), Asahi Kasei Microdevices Corporation (Japan), Renesas Electronics (Japan), Telink Semiconductor (China), Murata Manufacturing Co., Ltd. (Japan), STMicroelectronics (Netherlands), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Texas Instruments Incorporated (US), Nordic Semiconductor (Norway), Dialog Semiconductor (UK), Cypress Semiconductor (US), Silicon Laboratories, Inc. (US), Microchip Technology Inc. (US), and NXP Semiconductors NV (Netherlands). These players contribute a significant share in the growth of the global Bluetooth IC market.
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