Bluetooth Low Energy (BLE) IC Market Size, Share, Growth, and Industry Analysis, By Type (Bluetooth 4.0, Bluetooth 4.x, Bluetooth 5.x), By Application (Healthcare, Beacons, Smart Home, Automotive, Others), Regional Forecast To 2032

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Bluetooth Low Energy (BLE) IC Market REPORT OVERVIEW

Global Bluetooth Low Energy BLE IC Market size was USD 0.75 Billion in 2023 and market is projected to touch USD 1.03 Billion by 2032, exhibiting a CAGR of 3.4% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the Global Bluetooth Low Energy (BLE) IC Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The Bluetooth Special Interest Group (Bluetooth SIG) created and marketed Bluetooth Low Energy (Bluetooth LE, also known as BLE and formerly marketed as Bluetooth Smart), a wireless personal area network technology intended for cutting-edge applications in the home entertainment, fitness, and security sectors. The Bluetooth Low Energy (BLE) IC is a semiconductor that enables Bluetooth technology-based communication between devices. It is significant because it lowers the amount of power needed to send data, which makes it perfect for gadgets like smart watches and fitness trackers that need to preserve power.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

Wireless technology known as Bluetooth 4.0 is used to link electronic devices, such as smartphones, tablets, and laptops, to desktop computers and one another. Additionally, it has networking capabilities for the internet and online services like web browsing and e-mail. The range of Bluetooth 4.0 is larger than that of its predecessors; it can operate up to 30 metres from the connected device while still maintaining a reliable connection at 10 metres.  Bluetooth 4.0, sometimes referred to as Bluetooth Low Energy (BLE), is a low-power wireless technology. It has characteristics including improved speed and range, simple device integration, and low power consumption. The technology is being developed in the 5 GHz range in response to the rising demand for improved connectivity and longer battery life.

Bluetooth Low Energy (BLE) IC Market SEGMENTATION

• By Type

Based on type the Global Bluetooth Low Energy (BLE) IC Market is classified as Bluetooth 4.0, Bluetooth 4.x, Bluetooth 5.x.

• By Application

Based on application the Global Bluetooth Low Energy (BLE) IC Market is classified as Healthcare, Beacons, Smart Home, Automotive, Others.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth "

The demand for low-power wireless connectivity solutions in a variety of industries, including healthcare, beacons, the smart home, automotive, and others, is largely responsible for the market's expansion. Additionally, this industry is expanding due to the burgeoning IoT trend. However, during the forecast period, high implementation costs can partially impede this market's expansion. According to type, Bluetooth 4.0 dominated in 2017 and is anticipated to maintain this dominance over the course of the projected year. This can be ascribed to its widespread use in numerous applications, including the automotive and healthcare sectors.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

The increase in investment in IoT devices is what is driving the market CAGR for bluetooth IC. The loT connection business has had improved revenue growth as a result of the increasing investments being made in sensing technologies for automating industrial processes. Due to rising demand for audio equipment, smart city initiatives, automotive entertainment and diagnostic devices, automation, and wearable gadgets with Bluetooth capabilities, the market is constantly developing. a rise in the demand for home and hospital use of hands-free medical technology. In order to improve home care, wearable health monitoring like blood pressure and glucose metres have grown more widespread. IoT connectivity is being used by more hospitals to track resources and schedule distant appointments. As the pandemic recedes, these patterns will spread even more, facilitating easier access to healthcare.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

It is now more common than ever for people to use digital devices to track their health, especially during emergencies like the pandemic. The most obvious application of loT technology is in wearable devices like smartwatches and fitness trackers. The popularity of wearables has overtaken that of smartphones in the consumer electronics sector. These gadgets offer excellent solutions for performing everyday tasks like checking messages and tracking physical activity. The epidemic has enhanced the tracking and analysis of health data via smart devices. Given the increased need for ongoing health assessments, the wearables sector has experienced rapid growth. Rising IoT is driving wearables in healthcare.

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Bluetooth Low Energy (BLE) IC Market REGIONAL INSIGHTS

"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

The analysis offers market information for North America, Europe, Asia-Pacific, and the rest of the world, organised by region. Due to the expanding expansion of markets and rising use of wearable technology in nations all over the area, the North American bluetooth IC market will dominate. Additionally, the North American region's fastest-growing market for bluetooth ICs was Canada, while the US bluetooth IC market had the biggest market share.The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil are additional significant nations covered in the market analysis.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

LIST OF TOP BLUETOOTH LOW ENERGY (BLE) IC COMPANIES

• Nordic (Norway)
• TI (US)
• Dialog (UK)
• Cypress (US)
• Silabs (US)
• Microchip (US)
• Toshiba (Japan)
• STMicroelectronics (US)
• NXP (Netherlands)
• Realtek (Taiwan)
• AKM (Japan)
• Renesas (Japan)
• Telink (China)
• LAPIS Semiconductor (Japan)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.