Bluetooth Low Energy (BLE) Technology Global Market Report 2024

The bluetooth low energy (BLE) technology market size has grown steadily in recent years. It will grow from $9.17 billion in 2023 to $9.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increased demand for connected devices, heightened demand for IoT devices, the rise in adoption of wearable technology, expanded applications in healthcare and fitness, and the growing need for low-power wireless connectivity.

The bluetooth low energy (BLE) technology market size is expected to see steady growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to the integration with smart home devices, the development of Bluetooth mesh technology, the demand for location-based services, and the need for asset tracking. Major trends during the forecast period include the adoption of BLE in IoT devices, integration into automotive systems, incorporation with 5G technology, expansion into smart home technology, and advancements in Bluetooth Low Energy SoC technology.

The growing adoption of smart home devices and IoT is expected to drive the expansion of the Bluetooth Low Energy (BLE) technology market. Smart home IoT (Internet of Things) devices include a range of household appliances, systems, and gadgets designed to be interconnected and controlled remotely or automatically via the internet or a local network. The increasing demand for convenience, enhanced security, energy efficiency, and remote control of home functions is fueling the adoption of smart home devices and IoT. BLE technology in smart home devices and IoT enables low-power, cost-effective wireless communication for efficient device connectivity and control. For instance, according to Ericsson, a Sweden-based network and telecommunications company, the number of IoT-connected devices is projected to rise from 13.2 billion in 2022 to 34.7 billion by 2028, with 28.7 billion of these devices connecting via local short-range LPWANs and 6 billion through wide-area networks, including private cellular networks. Consequently, the rising adoption of smart home devices and IoT will drive the growth of the BLE technology market.

Major companies in the BLE technology market are focusing on advanced wireless sensor technology, such as System-on-Chip (SoC), to enhance connectivity, reduce power consumption, and enable innovative applications in IoT, healthcare, and wearable devices. BLE SoCs integrate a microcontroller, radio, and BLE protocol stack into a single chip, providing efficient, low-power wireless communication for various applications. For instance, in June 2022, Renesas Electronics Corporation, a Japan-based semiconductor manufacturer, launched the SmartBond DA1470x Family, the world's most advanced Bluetooth Low Energy (LE) SoC. This SoC integrates power management, hardware voice activity detection, GPU, and Bluetooth LE connectivity into one chip, making it ideal for wearables, consumer medical devices, and home appliances. High integration results in cost savings on the BoM, enabling affordable solutions while reducing PCB component count for compact designs and space optimization. The new product family features a compact form factor and integrates applications and 2D graphics processors, a voice activity detector, and power management, making it suitable for small IoT product designs.

In January 2021, Google LLC, a US-based technology company, acquired Fitbit LLC for $2.1 billion. This acquisition aims to enhance Google's wearable technology capabilities and broaden access to health and wellness solutions by integrating Fitbit's technological and product expertise with Google's advanced AI, software, and hardware. Fitbit LLC is a US-based provider of wearable fitness and health tracking devices specializing in BLE technology.

Major companies operating in the bluetooth low energy (BLE) technology market are Amazon Inc., Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Group Corporation, Intel Corporation, Qualcomm Incorporated, Xiaomi Corporation, Broadcom Inc., Texas Instruments Incorporated, Koninklijke Philips N.V., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology Incorporated, Logitech International S.A, Garmin Ltd., Cypress Semiconductor Corporation, Razer Inc., Jabra, Quectel Wireless Solutions Co. Ltd., Fitbit Inc., Nordic Semiconductor ASA, Sierra Wireless Inc., Sennheiser electronic GmbH & Co. KG, Telit Communications PLC.

North America was the largest region in the bluetooth low energy (BLE) technology 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 (BLE) technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Bluetooth Low Energy (BLE) is a wireless personal area network technology designed to significantly reduce power consumption and cost while maintaining a communication range similar to that of classic Bluetooth. The primary purpose of BLE technology is to enable devices to function with very low power requirements, allowing them to operate for extended periods on small batteries or even coin cell batteries.

The main types of offerings for Bluetooth Low Energy (BLE) technology include modules and chipsets. A module in BLE technology is a pre-packaged unit containing essential components such as the BLE chipset, antenna, and other necessary circuitry, designed for easy integration into electronic devices without requiring extensive technical expertise. The modes are categorized into single mode, dual mode, and classic, serving end users in sectors such as healthcare, sports and fitness, home appliances, automotive, consumer electronics, industrial automation, wearable electronics, and gaming.

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

The bluetooth low energy (BLE) technology market consists of revenues earned by entities by providing services such as application development and integration, consulting and training, and system integration and support. The market value includes the value of related goods sold by the service provider or included within the service offering. The bluetooth low energy (BLE) technology market also includes smart home devices, BLE protocol stacks, sensors, beacons, applications, and firmware. 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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