ID: MRFR/SEM/7171-HCR | February 2021 | Region: Global | 111 pages
The Global Bluetooth IC Market size was valued at USD 871.5 Million in 2018 and is expected to reach USD 2,842.2 Million by the end of the forecast period at a compound annual growth rate (CAGR) of 18.56%.
Bluetooth is a standardized protocol for wirelessly transmitting data over a communication network. It is a secure protocol that is ideal for short-range, low-power, and inexpensive wireless transmission between electronic devices. The technology is one of the most predominant low-power wireless technologies in the industry and is highly preferred by wireless device users and developers. Bluetooth technology has been evolving over the past two decades and is currently at Bluetooth 5. All the nodes in a Bluetooth-connected network act as a transmitter for other nodes, thereby, providing better connectivity across nodes. This has augmented the demand for Bluetooth ICs in wireless devices. Increasing adoption of smart wearables by consumers has attributed to the demand for the global Bluetooth IC market. Moreover, miniaturization of ICs is also expected to create opportunities in the global market. However, the integration of intellectual property (IP) blocks for system-on-a-chip (SOC) design and constantly evolving communication technology might hamper the market growth.
The Global Bluetooth IC Market has been segmented on the basis of Product, Device Type, End Use, and Region.
By 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.
By region, the global Bluetooth IC market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America.
The global market for Bluetooth ICs is estimated to grow at a staggering rate during the forecast period from 2019 to 2025. The geographic analysis of the Bluetooth IC market has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and Central & South America. As per MRFR analysis, the Asia-Pacific region dominated the global market in 2018 and is estimated to maintain its dominance throughout the forecast period. Demand for miniaturization of ICs has encouraged chip manufacturers in China and Taiwan to integrate Bluetooth IC on system-on-chips (SOCs). However, the market in North America is expected to witness the fastest growth during the forecast period 2019–2025. High penetration of wireless devices coupled with the implementation of smart buildings has propelled the growth of the Bluetooth IC market in North America.
Global Bluetooth IC Market, USD Billion
Source: MRFR Analysis
The manufacturers in the global Bluetooth IC market are primarily focused on improving their portfolio of Bluetooth ICs to stay competitive in the market. To accomplish this, these companies have invested a significant share of their revenues in research & development activities. In addition to this, the companies focus on developing compatible and highly efficient Bluetooth ICs for applications in consumer electronics, aerospace, defense, and telecommunications among other industry verticals. As a part of their market development strategy, these companies also focus on inorganic growth approaches such as acquisitions, partnerships, joint ventures, and collaborations to expand their geographic presence and gain a competitive advantage in the global Bluetooth IC market.
MRFR has identified a few companies as prominent players in the Global Bluetooth IC Market. These include 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), and NXP Semiconductors NV (Netherlands). These companies are analyzed on the basis of their geographic presence, origin, product portfolio, key developments, and expertise in wireless connectivity using Bluetooth. Apart from the aforementioned players, Realtek Semiconductor Corp. (Taiwan), Asahi Kasei Microdevices Corporation (Japan), Renesas Electronics (Japan), Telink Semiconductor (China), Murata Manufacturing Co., Ltd (Japan), Amp'ed RF Wireless Technology (US), MediaTek Inc. (Taiwan), and Maxim Integrated (US) have a significant presence in the global Bluetooth IC market.
Frequently Asked Questions (FAQ) :
The global bluetooth IC market is poised to register a market value of USD 2.8 billion at a CAGR of approximately 18% over the review period (2019-2025).
The increasing demand for bluetooth IC form smart wearables manufacturers coupled with the integration of technological innovation, is creating opportunities for market players.
The North America region is accountable for the largest share of the market across the globe, followed by the Asia Pacific and Europe region. The U.S. and Canada are contributing substantially towards the North America market share.
The global bluetooth IC market is analyzed on the basis of product, device type, and end use, wherein the consumer electronics end-use segment is projected to witness maximum demand over the review period.
A few significant players in the global bluetooth IC market STMicroelectronics (Netherlands), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Microchip Technology Inc. (US), and NXP Semiconductors NV (Netherlands), among others