Bluetooth 5 Device Market Size, Share, Opportunities, And Trends By Device Type (Smartphones, Headphones, Smartwatches, Speakers, Others), By Industry Vertical (Consumer Electronics, Healthcare, Automotive, Retail, Others), And By Geography - Forecasts From 2023 To 2028
- Published : May 2023
- Report Code : KSI061610504
- Pages : 114
The global Bluetooth 5 devices market is estimated to be valued at US$660.938 billion in 2021.
The most recent version of wireless technology, Bluetooth 5.0, offers enhanced capabilities including expanded broadcast data transfer and longer transmission distances and speeds. This is often employed in a variety of end-use sectors, including wearable technology, the automotive industry, and the healthcare industry, for applications including audio streaming, data transfer, location services, and device networks. Due to its support for voice artificial intelligence (AI) applications and ability to provide wireless communication between various devices, it is also promoting the expansion of the Internet of Things (IoT) industry.
Digital Keys Boost the Bluetooth 5 Global Market
The global market for Bluetooth 5 is seeing substantial expansion due to the rising popularity and use of digital keys for vehicle access control, which needs more advanced smartphone access and control capabilities and Bluetooth technology. Without a physical key or a fob, owners using digital keys may start and unlock their automobiles using their smartphones or other mobile devices. To create a safe and dependable connection between the mobile device and the automobile, digital keys rely on Bluetooth 5 technology. For passive entry and start (PES) capabilities, Bluetooth 5 also supports ultra-wideband (UWB) technology, which provides accurate distance and direction measurement between the mobile device and the automobile.
The high penetration OF connectivity devices in the major economies is projected to surge MARKET share.
According to the ScientiaMobile’s mobile overview report for the period January 2021 – March 2021, with a market share of 56.06% among android users in the United States and Canada, this data reveals that Bluetooth 5 is the most common version, followed by Bluetooth 4.2 with a share of 24.19%. On the other hand, Bluetooth 5 has a 72.88% market share among iPhone users in the United States and Canada, followed by Bluetooth 4.2 with 26.47% in the first quarter of 2021. This shows that there is a considerable demand for Bluetooth 5 devices, which provide quicker data transfer, a greater operating range, and less battery consumption than earlier models. Increasing use of Bluetooth location service devices, expanding IoT device penetration, and rising interest in wireless audio devices are some of the main drivers propelling the market's expansion. Because of this, Bluetooth 5 has a great chance of dominating the worldwide Bluetooth industry, particularly in areas such as device networks, data transmission, location services, and music streaming. Additionally, Bluetooth 5 can open new markets and use cases, including smart homes, industrial IoT, healthcare, and automobiles.
Bluetooth 5.0: A Growing Market for Wireless Connectivity
Bluetooth 5.0 is the latest version of the wireless technology standard that enables personal area networks and data exchange over short distances. It offers several advantages over previous versions, such as higher data transfer speed, longer range, more data broadcasting, and lower energy consumption. These features make Bluetooth 5.0 suitable for various applications, such as audio streaming, data transfer, and location services. The growth of the market is driven by factors such as increasing demand for digital keys in automotive access control, rapid digitalization of enterprises and adoption of smart devices in Asia Pacific, and availability of a wide variety of Bluetooth location service devices.
the Wireless Solution for Railway Operations and User Experience
With its cutting-edge features and advantages, Bluetooth 5.0 is revolutionizing a number of sectors and applications. One such illustration is, the railway stations directory, which contains information about the amenities and attributes of each station in India. According to the Directory of Indian Railway Stations, there were 7,349 railway stations in India as of March 2021, 3,494 of which had a computerized reservation system and 2,113 had public speaker systems. The data from this directory demonstrates how Bluetooth 5.0, by providing wireless connectivity and supporting speech AI applications, may enhance communication and information systems at public locations. For instance, visitors can access the reservation system or public address system at train stations using their cell phones or headphones. This can improve the efficiency and dependability of railway operations and their comfort and safety. The need for the market can rise as more station amenities adopt Bluetooth 5. As a result, Bluetooth 5.0 can increase market demand for its devices since they provide innovative solutions to a variety of difficulties.
Market Key Developments
- In November 2022, Xiaomi announced the release of the Wireless Switch Bluetooth Version in China. The Mi wireless switch features a battery arrangement that lasts for up to two years and has passed more than 50,000 life tests. Devices that offer the Bluetooth Mesh gateway feature are compatible with the Xiaomi wireless switch's Bluetooth version. It has three smart device controls available. It can be interfaced with a smart gateway and offers a single-click quick mode with a 350ms reaction time.
- In March 2021, Razer introduces the Anzu Smart Glasses, which include attractive multi-lens eye care and open-ear audio. Two sets of lenses are standard with the Anzu Smart Glasses. The Anzu Smart Glasses are ideal for use both at home and when traveling since one set of lenses filters out 35% of blue light and the other is 99% UVA/UVB protection. The 16mm speaker drivers in the frame enable open-ear listening with 60ms latency through Bluetooth 5.1, capping off the entire package.
- In October 2021, Tile unveiled Tile Pro. Tile's broad range of trackers is increasing its focus on practical features that let users live carefree lives. To meet its most frequent use case—keys—the Pro, Tile's most potent tracker with a 400-foot locating range, receives a fresh appearance and feel.
Bluetooth 5 Device Market Scope:
|Market Size Value in 2021||US$660.938 billion|
|Growth Rate||CAGR during the forecast period|
|Forecast Period||2023 – 2028|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Device Type, Industry Vertical, and Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Sony India, Haier Inc., Google, LG Electronics, TP-Link Corporation Limited, ASUSTek Computer Inc., Apple Inc., Artis, pTron, Harman International Industries, Incorporated|
|Customization Scope||Free report customization with purchase|
- By Device Type
- By Industry Vertical
- Consumer Electronics
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. BLUETOOTH 5 DEVICES MARKET, BY DEVICE TYPE
6. BLUETOOTH 5 DEVICES MARKET, BY INDUSTRY VERTICAL
6.2. Consumer Electronics
7. BLUETOOTH 5 DEVICES MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Sony India
9.2. Haier Inc.
9.4. LG Electronics
9.5. TP-Link Corporation Limited
9.6. ASUSTek Computer Inc.
9.7. Apple Inc.
9.10. Harman International Industries, Incorporated
TP-Link Corporation Limited
ASUSTek Computer Inc.
Harman International Industries, Incorporated
|Report Name||Published Month||Get Sample PDF|
|Kids’ Smartwatch Market Size & Share: Industry Report, 2023-2028||Jan 2023|
|Smart Speakers Market Size & Share: Industry Report, 2019-2024||Jun 2021|
|Bluetooth Module Market Size, Share & Trends: Report, 2023-2028||Dec 2023|
|Wireless Headphones Market Size: Industry Report, 2022–2027||Oct 2022|