The global Bluetooth module market is projected to grow at a CAGR of 6.38% during the forecast period to reach US$11.328 billion by 2027, from US$7.348 billion in 2020.

Bluetooth modules now form an integral component of multiple consumer electronic devices. The device's performance is determined by propagation circumstances, material distribution, manufacturing batch variation, and charge conditions. To utilize Bluetooth technology, users must first complete the necessary profiles to maintain contact between devices. Moreover, the increasing penetration of Bluetooth technology in security and commercial use is further projected to augment the demand for these modules in the coming years.

Growth in consumer electronics will propel Bluetooth module market expansion

The demand for these modules is projected to rise during the forecast period on account of increasing demand for consumer electronics like smartphones and PCs around the world. According to the ASER study, smartphone availability in rural India was 36.5% in 2018, rising to 61.8% in 2020 and 67.6% in 2021. Furthermore, according to the Global System for Mobile Communications, the use of mobile phones especially lowers leisure and commute trips. It is possible that by 2025, the saved emissions leveraged by mobile technology will have doubled. As a result, it increased manufacturing demand and usage among end-users. The GSMA also predicted that smartphone use would reach 75% by 2022. Additionally, the growing penetration of different wireless technological advancements will boost the Bluetooth modules market during the forecast period.

By Type

On the basis of type, the Bluetooth module market is segmented as classic and low energy. One of the fundamental reasons driving the growth of the Bluetooth low-energy module market is the rising penetration of the IoT sector. Several IoT device makers have included BLE modules in their products. For example, wearable gadgets are among the most common IoT devices that use BLE modules. As a result, rising IoT applications are likely to boost the worldwide BLE module market over the forecast period.

By End-User

On the basis of end-user, the Bluetooth module market can be segmented into consumer electronics, automotive, communication and technology, and others. The Bluetooth module market is anticipated to rise due to the increasing demand from several end-user industries. With the rise of the automotive industry, the Bluetooth module is simultaneously growing. For instance, Xiaomi released the Roidmi 3S in 2022. It is a standard car charger with an FM transmitter and Bluetooth module integrated into it. It allows playing music in the car by selecting the appropriate frequency on the FM radio by sending music from a smartphone to any FM channel. Therefore, the innovative developments designed to be integrated into the automotive industry will drive market growth for the Bluetooth module market in the coming years. Furthermore, the growth of the end-user industries will boost the market for Bluetooth modules.

By Geography

By geography, the Bluetooth module market is segmented as North America, South America, Europe, Middle East & Africa, and Asia-Pacific. According to the GSM Association, Asia Pacific's total number of people using mobile internet will reach roughly 2.7 billion by 2025. This rise in connection is assisting the mobile industry in increasing its influence across all the United Nations' Sustainable Development Goals and driving the use of mobile-based products. As a result of the increased prevalence of smartphones and internet users, the Bluetooth module market is expected to occupy a major part of the market over the forecast period. Simultaneously, the Americas region will also hold a dominant share in the market for the Bluetooth module segment, due to the increasing number of innovative product launches made in the region.

Product Offerings

The Lyra Series from Laird Connectivity is a Bluetooth Low Energy device line based on the Silicon Labs EFR32BG22 SoC. This modular module family combines all of the advantages of Silicon Labs' hardware, software, and tool solutions with Laird Connectivity's added-value software applications, solutions, validation, and support capabilities. Every component used is developed and verified to the greatest industrial temperature range of -40 oC to +105 oC. To accommodate any host board footprint, it features tiny form factor PCB modules as well as ultra-compact SIP alternatives. It also includes security measures such as clever power battery designs.

Market Developments

• In May 2019, Mouser Electronics now stocked and sells Panasonic’s latest PAN1762 Series RF ultra-low-power Bluetooth low-energy module.
• In June 2019, Lantronix, Inc., will start sampling its xPic270 embedded IoT gateway and combWiFi/Bluetooth module at Embedded Technologies Exp& Conference.
• In May 2021, Nordic Semiconductor announced that Toshiba Corporation, a Tokyo-based multinational conglomerate, has chosen the 2.48 by 2.46mm wafer-level chip scale package version of Nordic's nRF52811 Bluetooth Low Energy System-on-Chip to offer the core processing power as well as wireless connectivity for its 'Bluetooth module with SASP Technology.' The Bluetooth LE module is the world's smallest.

Bluetooth Module Market Scope:

Segmentation

The Bluetooth Module market has been analyzed through the following segments:

• By Type
  • Classic
  • Low-Energy
• By End-User
  • Consumer Electronics
  • Automotive
  • Communication and Technology
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • United Kingdom
    • Italy
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others