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In the world of electronic gadgets, making things smaller is called miniaturization. This means fitting more tiny transistor nodes onto a small chip called an integrated circuit (IC). Once this chip is connected to its intended system or device, the whole system can do what it's supposed to do. As time goes on, technology is getting smaller, but at the same time, it's becoming more powerful.
Imagine squeezing a lot of important parts onto a tiny chip. That's what miniaturization does. Back in 1965, a person named Gordon Moore made a prediction. He said that if we could put more and more parts into these chips, amazing things would happen. And guess what? His prediction came true! This ushered in a new era of technology, bringing us things like home computers, automatic controls for cars, and personal portable communication devices (like our smartphones).
As technology has gotten smaller and more powerful, it has given us a bunch of cool things. We now have portable computers that fit in our hands (like laptops and smartphones). Our phones can connect to the internet, and we have new medical equipment that can do incredible things. But that's not all! We also have the Internet of Things, which means our devices can talk to each other and work together. And don't forget about 5G wireless devices, which make our internet connections super fast.
Miniaturization has played a big role in making all these awesome things possible. Because we can fit so much power into such small spaces, we now have technologies like Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI). These are all things that let us experience and interact with the digital world in amazing ways.
So, in simple terms, miniaturization is like making our gadgets smaller, but at the same time, it's making them way more powerful. Thanks to this, we have all sorts of cool devices that make our lives easier and more fun. And who knows what amazing things we'll have in the future as technology keeps getting smaller and smarter!
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Application, and Region |
Bluetooth IC Market Highlights:
Global Bluetooth IC Market Overview:
The bluetooth IC market size was valued at USD 10.17 Billion in 2023. The bluetooth IC market industry is projected to grow from USD 11.62 Billion in 2024 to USD 29.63 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.41% during the forecast period (2024 - 2032). Rise in investment for the advancement of developed products and growing adoption of developed and modern technology are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Bluetooth IC Market Trends
- Increasing investments in loT devices are driving the market growth
Market CAGR for bluetooth IC is driven by the growing investment in IoT devices. The growing investments in sensing technology for automating industrial activities have led to the enhanced revenue growth of the loT connectivity industry. The market is undergoing a constant expansion due to the growing demand for audio devices, smart city projects, automotive entertainment and diagnostic devices, automation, and wearable electronics integrated with Bluetooth capabilities. Increased the demand for hands-free medical technology in hospitals and in-home use. Wearable health monitors, including blood glucose and blood pressure monitors, have become more common in enhancing home care. More hospitals have adopted IoT connectivity to track resources and make remote appointments. These trends will continue to expand as the pandemic subsides, making healthcare more accessible.
Additionally, customers' increased use of smart wearable electronic devices 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 bluetooth IC market revenue.
The rising trend of earphones, wireless headphones, and speakers' connectivity creates a huge demand for bluetooth chips. As per the report published by Bluetooth SIG, the firm that authenticates Bluetooth devices, more than 50% of headphones in the market are wireless, and around 90% of speakers on the market will be wireless by 2023. Several companies are introducing advanced Bluetooth 5.0-based devices in the market. For instance, in June 2022, Hammer, a manufacturer of consumer audio products and fitness bands, introduced the Hammer KO Unisex Bluetooth 5.0 Sports Truly Wireless Earbuds with touch control in India. It includes touch sensors that detect touch. The Hammer KO Unisex Bluetooth 5.0 Sports Truly Wireless Earbuds feature touch control and a secure fit. It supports Bluetooth V5.0, which offers twice the transmission speed and twice the stability with no signal loss or music dropouts.
Increasing adoption of smart wearables. The utilization of digital gadgets worn by patients to monitor their health has become increasingly prevalent, particularly during a crisis, including the pandemic. Wearable gadgets, including smartwatches and fitness trackers, are the most obvious utilization of loT technology. In the consumer electronics market, wearables have surpassed smartphones in popularity. These devices deliver amazing ways to complete basic chores, including checking messages and measuring physical activity. The pandemic has increased the usage of smart wearables for tracking and examining health data. The wearable industry has grown dramatically in response to the growing requirement for health evaluations at any given time. IoT is rising, powering wearables in health care. The Internet of Health Things guides the interconnection of medical tools and applications with healthcare communication technology.
Bluetooth IC Market Segment Insights:
Bluetooth IC Type Insights
The bluetooth IC market segmentation, based on type, includes bluetooth, bluetooth low energy, bluetooth classic, and others. The bluetooth segment dominated the market, accounting for 35% of market revenue (3.56 Billion). Bluetooth provides simultaneous audio, high data throughput capabilities, and connectivity to 802.15.4 and multiple BLE devices. However, bluetooth low energy is the fastest-growing category as they need less energy, making them more comfortable and energy effective.
Figure 1: Bluetooth IC Market by Type, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Bluetooth IC Application Insights
The Bluetooth IC market segmentation, based on application, includes smart homes, beacons, audio devices, human interface devices (HID), health & fitness, remote controls, automotive, industrial, and others. The audio devices category generated the most income (70.4%). The demand for smart, high-performance wireless sensors in Bluetooth ICs for better wireless connectivity in wireless audio devices such as speakers and headsets increases. However, industrial is the fastest-growing category due to the increasing number of applications, product innovation, and interest in wireless operating devices.
Bluetooth IC Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American bluetooth IC market will dominate due to the increasing development of lots and growing utilization of wearable devices in countries across the region. Moreover, the US bluetooth IC market held the largest market share, and the Canada bluetooth IC market was the fastest-growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: BLUETOOTH IC MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe bluetooth IC market accounts for the second-largest market share due to the rising utilization of hands-free headsets, connected watches, and various wireless devices in countries across the region. Smart home technology, wearable technology, and other smart devices are being utilized more frequently across the region. Further, the German bluetooth IC market held the largest market share, and the UK bluetooth IC market was the fastest-growing market in the European region.
The Asia-Pacific bluetooth IC Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the growing development of consumer electronics and automotive industries in countries across the region. Moreover, China bluetooth IC market held the largest market share, and the India bluetooth IC market was the fastest-growing market in the Asia-Pacific region.
Bluetooth IC Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the bluetooth IC market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the bluetooth IC industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the bluetooth IC industry to benefit clients and increase the market sector. Major players in the Bluetooth IC market, including STMicroelectronics (Netherlands), Toshiba Corporation (Japan), Qualcomm Incorporated (US), Texas Instruments Incorporated (US), and Nordic Semiconductor (Norway) and others, are attempting to expand market demand by investing in research and development operations.
Nordic Semiconductor ASA is a provider of semiconductor devices. The company offers designing, marketing, and delivering integrated circuits (ICs), mobile apps, integrated solutions, and related intellectual property. The company's products include low-energy components, bluetooth mesh, ANT, 2.4 GHz proprietary and others. Its products find application in manufacturing personal computer (PC) accessories, gaming controllers, sports and health monitors, education, industrial products, and other applications. In February 2019, Nordic Semiconductor introduced the nRF52811 System-on-Chip (SoC). This fully featured connectivity solution supports Bluetooth 5.1 direction finding and various popular low-power wireless protocols for applications such as gateways for smart homes and industrial products. The SoC enhanced Nordic's well-known nRF52 Series platform by launching a device that manages to combine the low cost of Nordic's entry-level nRF52810 SoC with the multiprotocol support of Nordic's mid-range nRF52832 and advances nRF52840 SoCs.
Qualcomm Inc designs and develops wireless telecommunication products and services. The firm offers integrated circuits and system software for mobile devices and other wireless products. Its product offerings such as consumer wireless devices, cellular modems, radio frequency transceivers, application processors, power management and wireless connectivity integrated circuits. The company's products find applications in mobile devices, laptops, tablets, cellular handsets, cameras, servers, wireless devices and network infrastructure equipment, routers, access points, wearable devices, voice and music devices, gateway equipment, consumer electronic devices, desktop computers, and IoT devices. In April 2022, Qualcomm acquired Arriver from SSW Partners to boost Qualcomm Technologies' ability to provide open, fully incorporated, and Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers at scale.
Key Companies in the Bluetooth IC market include
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STMicroelectronics (Netherlands)
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Toshiba Corporation (Japan)
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Qualcomm Incorporated (US)
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Texas Instruments Incorporated (US)
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Nordic Semiconductor (Norway)
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Dialog Semiconductor (UK)
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Cypress Semiconductor (US)
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Silicon Laboratories, Inc. (US)
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Microchip Technology Inc. (US)
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NXP Semiconductors NV (Netherlands)
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Realtek Semiconductor Corp. (Taiwan)
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Asahi Kasei Microdevices Corporation (Japan)
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Renesas Electronics (Japan)
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Telink Semiconductor (China)
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Murata Manufacturing Co., Ltd (Japan)
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Amp'ed RF Wireless Technology (US)
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MediaTek Inc. (Taiwan)
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Maxim Integrated (US)
Bluetooth IC Industry Developments
June 2022: released its new Bluetooth Location Services solution, which employs special, low-power Bluetooth devices to simplify Angle of Arrival (AoA) and Angle of Departure (AoD) location services. This unique platform integrates hardware and software to deliver energy efficiency by combining Silicon Labs' BG22 SiP modules and SoCs, which can work for around 10 years on a coin cell battery, with progressive software that can track assets, enhance indoor navigation, and locate tags with sub-meter accuracy.
October 2020: STMicroelectronics unveiled its new BlueNRG-LP Bluetooth® LE System-on-Chip (SoC), which uses 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 battery size required in most applications by half and extending runtime.
Bluetooth IC Market Segmentation:
Bluetooth IC Type Outlook
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Bluetooth
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Bluetooth Low Energy
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Bluetooth Classic
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Others
Bluetooth IC Application Outlook
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Smart Homes
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Beacons
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Audio Devices
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Human Interface Devices (HID)
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Health & Fitness
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Remote Controls
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Automotive
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Industrial
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Others
Bluetooth IC Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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