New York, US, Aug. 19, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Bluetooth IC Market information by Type, Application and Region – forecast to 2027” the market was valued at USD 871.5 Million in 2018 and is expected to reach USD 2,842.2 Million by 2025 at growth rate of 18.56% CAGR.
Competitive Landscape
To remain competitive in the worldwide Bluetooth IC market, manufacturers are largely focused on improving their Bluetooth IC portfolio. To do this, these corporations have committed a considerable portion of their sales in R&D operations. In addition, the firms focus on producing Bluetooth ICs that are compatible and highly efficient for applications in consumer electronics, aerospace, defense, and telecommunications, among other industry verticals. These firms use inorganic growth strategies such as acquisitions, partnerships, joint ventures, and collaborations as part of their market development plan to increase their regional presence and acquire a competitive advantage in the global Bluetooth IC market.
Dominant Key Players on Bluetooth IC Market Covered Are:
- 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)
- NXP Semiconductors NV (Netherlands)
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Bluetooth IC Market Drivers:
Multiple Factors to Augment Market Growth
Bluetooth is a standardized protocol for transferring data wirelessly across a communication network. It is a secure protocol designed for short-range, low-power, and low-cost wireless communication between electronic devices. The technology is one of the most widely used low-power wireless technologies in the market, and it is widely used by wireless device users and developers. Bluetooth technology has advanced over the last two decades and is now at Bluetooth 5. All nodes in a Bluetooth-connected network operate as transmitters for other nodes, resulting in improved node connectivity. This has increased the need for Bluetooth integrated circuits (ICs) in wireless devices.
The increased use of smart wearable electronic devices by customers is a key driving factor in the market's growth. Increasing financial investments in IoT-based device technology, increased demand for smart wireless sensors, increased demand for better wireless connectivity in wireless devices, miniaturization of ICs, demand for high performance Bluetooth ICs in audio products such as speakers and headphones, and increased demand for Bluetooth ICs in applications such as smart homes, automotive, and industrial, consumer electronics and more are expected to propel the growth of the market during the forecast period.
Possibility of Connection Failure in Certain Conditions and Low Bandwidth of Bluetooth
The likelihood of connection failure in certain settings, as well as the low bandwidth of Bluetooth, are major impediments to market growth. In addition, the combination of intellectual property (IP) blocks for system-on-a-chip (SOC) design and constantly evolving wireless communication technologies could stymie market expansion.
Browse In-depth Market Research Report (111 Pages) on Bluetooth IC Market:
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Segmentation of Market Covered in the Research:
The global Bluetooth IC market has been segmented on the basis of product, device type, and end-use.
On the basis of type, the global Bluetooth IC market has been segmented into Bluetooth 4.0, Bluetooth 4.2, Bluetooth 5, others.
On the basis of 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.
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Regional Analysis
APAC to Remain Dominant in the Global Market
The Asia Pacific region led the global market in 2018 and is expected to do so throughout the forecast period. The demand for miniaturization of integrated circuits (ICs) has prompted chip manufacturers in China and Taiwan to integrate Bluetooth ICs on system-on-chips (SOCs).
North America to Witness the Fastest Growth Rate
The North American market is predicted to develop the fastest over the projection period of 2020–2027. The widespread use of wireless devices, together with the implementation of smart buildings, has fueled the Bluetooth IC market share in North America.
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Industry News
In October 2020, STMicroelectronics unveiled its new BlueNRG-LP Bluetooth® LE System-on-Chip (SoC), which takes advantage of the most recent Bluetooth technologies to extend communication range, enhance throughput, reinforce security, and save power. The ultra-low-power radio is optimized to consume as little as 3.4mA in receive mode, 4.3mA when sending, and less than 500nA passively waiting for wake-up events, reducing the size of the battery required in most applications by half and extending runtime.
In October 2019, Microchip unveiled a Bluetooth 5.0-certified, dual-mode IC for audio solutions. The IS2083 IC features a power amplifier and flash memory which enables it to support Sony’s LDAC technology.
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