Bluetooth Low Energy Devices Global Market Report 2024

The bluetooth low energy devices market size has grown steadily in recent years. It will grow from $22.72 billion in 2023 to $23.8 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to increased consumer electronics demand, increased Internet of Things (IoT), growth of smart home ecosystems, increased industrial automation, and increased mobile device integration.

The bluetooth low energy devices market size is expected to see steady growth in the next few years. It will grow to $28.76 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The projected growth is driven by several factors, including the rising utilization of Bluetooth Low Energy (BLE) technology in healthcare and fitness applications, heightened attention to BLE security and privacy measures, integration of BLE with IoT and smart home devices, growing demand for wearable technology, and the emergence and expansion of BLE beacons. Noteworthy trends in the forecast period encompass improved healthcare functionalities, integration with 5G and edge computing systems, advancements in smart retail solutions, increased emphasis on sustainability practices, and the integration of BLE technology into medical devices.

The expansion of smart devices is anticipated to drive the advancement of the Bluetooth low-energy devices market in the future. Smart devices, characterized by their internet connectivity and data processing capabilities, revolutionize daily tasks by enabling automation and remote control features. Their widespread adoption stems from their seamless integration into everyday life, fostering a trend towards interconnected living. Bluetooth low-energy devices play a vital role in this ecosystem by facilitating efficient wireless communication with minimal energy consumption, thereby enhancing connectivity and functionality across various sectors such as wearable technology, home automation, and health monitoring. For instance, in 2022, Statistics Canada reported a continued rise in the usage of Internet-connected smart home devices, which increased from 42% in 2020 to 47% in 2022, with smart speakers (30%) being the most prevalent. Hence, the expansion of smart devices serves as a catalyst for the Bluetooth low-energy devices market growth.

Leading companies within the Bluetooth low energy devices sector are pioneering innovative chipset solutions, including cutting-edge system-on-chip (SoC) offerings, to cater to the evolving needs of consumers with enhanced functionalities. A system-on-chip (SoC) is a compact integrated circuit that consolidates various electronic components and operations into a single chip, incorporating all essential elements required for Bluetooth communication. For instance, in June 2022, Renesas Electronics Corporation, a prominent semiconductor manufacturer based in Japan, unveiled its latest SmartBond DA1470x Family, a series of highly integrated system-on-chip (SoC) solutions designed for Bluetooth low energy (LE) applications. This series integrates a power management unit, hardware voice activity detector (VAD), Graphics Processing Unit (GPU), and Bluetooth LE connectivity within a singular chip, enabling advanced sensor and graphical capabilities in IoT devices while maintaining ultra-low-power audio processing. These solutions find ideal applications in wearables, consumer medical devices, home appliances, industrial automation, and Bluetooth-enabled consoles.

In August 2021, Renesas Electronics Corporation, a semiconductor manufacturer headquartered in Japan, completed the acquisition of Dialog Semiconductor for a total of $5.32 billion. This strategic move was geared towards bolstering Renesas's IoT prowess and extending its footprint within the Bluetooth low-energy sector. Dialog Semiconductor Plc, based in the United Kingdom, specializes in offering Bluetooth low-energy devices and comprehensive solutions.

Major companies operating in the bluetooth low energy devices market are Amazon Inc., Apple Inc., Samsung Electronics Co. Ltd, Huawei Technologies Co. Ltd., Sony Corporation, Lenovo Group Ltd, Panasonic Corporation, Qualcomm Incorporated, Telefonaktiebolaget LM Ericsson, Nokia Corporation, Toshiba Corporation, Texas Instruments Incorporated, Koninklijke Philips NV, MediaTek Inc., Tokyo Denki Kagaku Kōgyō Corporation, Infineon Technologies AG, Murata Manufacturing Co. Ltd, NXP Semiconductors N.V., Microchip Technology Incorporated, Cypress Semiconductor Corporation, Silicon Laboratories Inc, Nordic Semiconductor ASA, Espressif Systems, Atmosic Technologies, Telink Semiconductor.

North America was the largest region in the bluetooth low energy devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bluetooth low energy devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the bluetooth low energy devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Bluetooth Low Energy (BLE) devices are wireless communication devices engineered for minimal power consumption and prolonged battery longevity. They adhere to Bluetooth 4 and subsequent standards, enabling the exchange of data over short distances between devices. BLE finds extensive application across various domains, encompassing smart home appliances and medical monitoring apparatus.

The primary product categories of Bluetooth Low Energy devices comprise modules and chipsets. Modules are pre-designed, compact units incorporating essential hardware and firmware for BLE communication, available in single-mode and dual-mode configurations. These devices are utilized across various sectors, including automotive, consumer electronics, healthcare, building and retail, among others.

The bluetooth low energy devices market research report is one of a series of new reports that provides bluetooth low energy devices market statistics, including the bluetooth low energy devices industry global market size, regional shares, competitors with the bluetooth low energy devices market share, detailed bluetooth low energy devices market segments, market trends, and opportunities, and any further data you may need to thrive in the bluetooth low energy devices industry. These bluetooth low energy devices market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The bluetooth low-energy device market consists of sales of sensors, health and fitness trackers, and smart locks. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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