Bluetooth Chips Market Size, Share, Growth, And Industry Analysis, By Type (Online and Offline), By Application (Mobile Phones, Computers, Connected Home and Others), Regional Forecast By 2031

Bluetooth Chips Market Report Overview

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The global bluetooth chips market size was USD 3.0775 billion in 2021 & the market is expected to reach USD 11.33 billion in 2031, exhibiting a CAGR of 14.15% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the bluetooth chips market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Bluetooth allows remote device connectivity without the use of short-range cables and wires, making it an affordable option for low- to medium-speed device connectivity. bluetooth chips are present in any device that has Bluetooth communication. Data from a sender device is received by a chip, which then sends it over a unique short-range radio frequency to a receiver. The bluetooth is a PCBA board that has Bluetooth built right in. Depending on what each module does, it is divided into two categories: bluetooth data and bluetooth voice. The chips come in three different varieties: classic bluetooth chips, bluetooth low energy (BLE), and dual-mode bluetooth chips. They are utilized in various products, including cell devices, wireless speakers and headphones, wearable technology, and others.

The Bluetooth market is expected to experience growth over the course of the forecasted period due to the rising demand for wireless Bluetooth speaker systems and the widespread use of Bluetooth technology in a variety of applications, including building automation, wearable technology, asset tracking, wireless audio, and wearable devices. Growing public awareness of the benefits of leading active and healthy lifestyles has increased customer requirements for wearable activity trackers and smartwatches. The need for these chips is anticipated to increase as a result in the upcoming years.

COVID-19 Impact: End-Use Sector Operations had Halted which Resulted in the Diminished Demand for these Chips

The bluetooth industry's whole supply chain had been badly damaged by the COVID-19 epidemic. The end-use sector's operations and production had stopped, which had an impact on the chips market. The COVID-19 pandemic's rapid emergence at the beginning of 2021 had resulted in the installation of strict lockdown laws across various nations, which had a negative impact on the industry's overall growth. This had caused problems in the export and import of chips.

Latest Trends

"Introduction of Latest Chip in the Market Provides Various Advantages to the Users"

A new bluetooth chip from Swatch Group has extraordinary features that are unmatched by any other device now on the market. The Swiss Center for Electronics and Microtechnology, EM Microelectronic, and Swatch Group R&D created the new integrated circuit from scratch (CSEM). It is the tiniest chip currently available. The internet of things and the densification of functionality in portable electronic devices depend on the ultra-miniaturization of electronic components. In comparison to competitors, it consumes the least amount of energy in a variety of use scenarios, enhancing linked items' autonomy—a crucial aspect in this industry. Due to its unmatched high-speed start-up capability, it is possible to increase the longevity and reactivity of electronic beacons, for instance, as well as their reactivity. This technological marvel has already received official certification that it complies with Bluetooth version 5.0. The chip has superb prowess because it has more than 5 million transistors on a 5 mm2 area.

Bluetooth Chips Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Online and Offline

• By Application Analysis

Based on application, the market can be divided into Mobile Phones, Computers, Connected Home and Others

 Driving Factors

"Extensive Utilization of these Chips in Computers for their Various Benefits Drive the Broadening of the Bluetooth Sector"

Computers are one of the most common applications for chips. This is because most computers now include bluetooth functionality, and that functionality needs chips, which are now standard on most laptops. They make it possible for computers to connect wirelessly to a variety of other devices, such as keyboards, mice, printers, and other items. The most prevalent kind of bluetooth used in PCs is low-energy (BLE). These chips consume incredibly little power and frequently operate for years on a single coin cell battery. BLE was developed specifically for situations where power consumption is a factor, making it the optimum technology to utilize with computer peripherals.

"Increased Knowledge of Power Effectiveness and Sustainability is a Major Factor Driving the Expansion of the Industry"

A linked home is one that has the technology necessary for people to remotely operate and monitor their appliances, lighting, cooling and heating equipment, surveillance systems, and other fixtures and equipment in the house, according to the bluetooth SIG. Increased knowledge of power effectiveness and sustainability is a major factor in the expansion of the smart home market. Homeowners are increasingly seeking methods to lower their carbon impact and lower their power costs. These factors promote the expansion of the bluetooth chips market growth during the anticipated timeframe.

Restraining Factors

"Inability to Send Data Generated by Single Bluetooth Sensor to Different Devices can Hinder the Market Expansion"

Bluetooth low energy, which is boosted by its low power consumption feature, has been designed specifically for one-to-one connections, unlike its predecessor bluetooth classic, which can handle connections between many devices. While bluetooth low energy is built on a mesh network, bluetooth classic is based on a mesh topology that allows for rapid connection and dissociation. Although a hub/master device that supports bluetooth low energy can maintain connections with numerous bluetooth smart devices, the opposite is not possible. This limits the user's ability to send data generated by a single bluetooth smart equipped sensor system to a number of hub devices. This is a problem for elite athletes who frequently need to check different monitoring devices for various performance data.

Bluetooth Chips Market Regional Insights

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"Presence of Numerous Consumer Electronics Manufacturers in the Region aid Asia Pacific to Hold the Leading Market Position"

The region is anticipated to see the fastest growth in the bluetooth business over the projected time frame due to the presence of numerous consumer electronics product manufacturers in countries like Japan, China, Taiwan, and South Korea. Additionally, the main center for consumer electronics is in Asia Pacific. Due to the developing IoT market, the number of data centers, and the usage of automation by different industries, there will be a lot of lucrative opportunities for the advancement of the bluetooth chips market share throughout the projected period. A substantial portion of consumer electronics manufacturers can be found in China, South Korea, and Japan, which has helped the region gain a dominant position in the worldwide market for bluetooth. These countries also manufacture chips at a low cost.

In North America the market for chips is anticipated to grow significantly during the projected period as a result of escalating technical development and a growing tendency toward wireless communication in electronics products.

Key Industry Players

"Focus on Technical Developments and Creation of Innovative Products are Methods Adopted by the Competitors"

In 2020, there were several different types of chips available. To address the growing demand for bluetooth chips, major market participants are concentrating on technical development and market expansion. The creation of innovative products is another reason why manufacturers engage in mergers and acquisitions.

LIST OF TOP BLUETOOTH CHIPS COMPANIES

• Taiyo Yuden (Japan)
• Qualcomm (U.S.)
• Silicon Labs (U.S.)
• Murata (Japan)
• Laird (U.K.)
• Panasonic (Japan)
• Microchip Technology (U.S.)
• Broadcom (U.S.)
• Fujitsu (Japan)
• Texas Instruments (U.S.)
• STMicroelectronics (Switzerland)
• Cypress Semiconductor (U.S.)
• Hosiden (Japan)
• Intel (U.S.)

Report Coverage

This report covers the bluetooth chips market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.