Bluetooth Modules Market Size, Share, Growth, and Industry Growth by Type (Bluetooth Low Energy (BLE) Modules, Dual-mode Bluetooth Modules, Classic Bluetooth Modules) By Application (Mobile Phones, Computers, Connected Home) Regional Forecast By 2031

Updated On: 15 April 2024

Bluetooth Modules Market Report Overview

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The global Bluetooth modules market size was USD 9039.6 million in 2021.  As per our research, the market is projected to touch USD 31,941.05 million in 2031, exhibiting a CAGR of 13.39% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with Bluetooth modules experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Bluetooth is an open wireless technology standard allowing mobile and stationary devices to exchange data over short distances. A straightforward Bluetooth SPP (Serial Port Protocol) module called Bluetooth Module is created for setting up transparent wireless serial connections. It communicates using serial transmission, which makes interacting with a controller or PC simple.

COVID-19 Impact: Lockdown Restrictions to Limit Market Growth

Due to lockdowns, travel restrictions, and business closures, COVID-19 has been having an impact on the economies and sectors of many different nations. The closing of numerous plants and factories has had a detrimental influence on the production, delivery schedules, and sales of goods on the international market. Only a few businesses have already warned of potential delivery delays and eventual sales declines.

LATEST TRENDS

"Increasing Usage in Security Applications to Foster Market Growth "

Bluetooth modules are a standard part of many consumer electronics products. The propagation conditions, material distribution, batch variation in manufacturing, and charge conditions all affect the device's performance. Users must first complete the essential profiles to keep devices in communication in order to use Bluetooth technology. The growing usage of Bluetooth technology in commercial and security applications is also anticipated to increase demand for these modules in the upcoming years.

Bluetooth Modules Market Segmentation

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• By Type

Based on type, the market is divided into Bluetooth Low Energy (BLE) Modules, Dual-mode Bluetooth Modules, Classic Bluetooth Modules.

• By Application

Based on the application, the market is divided into Mobile Phones, Computers, Connected Home.

DRIVING FACTORS

"Rising Industralization to Fuel Market Growth"

The need for the market for Bluetooth-enabled devices has grown as a result of fast industrialization and widespread use of consumer electronics products in developing nations like China, India, Malaysia, and others. Because Bluetooth low energy modules use less power, it is possible to send data over short distances, which has led to their widespread use. Digital marketing, indoor positioning, electronic payments, and other uses for beacon technology have gained popularity in recent years. Beacons are an element of the Internet of Things (IoT) that employ proximity technology to detect human presence close by and initiate pre-set actions to provide informational, contextual, and personalized experiences.

"Increasing Demand for Bluetooth Low Energy to Stimulate Market Growth "

A more intelligent and energy-efficient version of Bluetooth is known as Bluetooth Low Energy. By making mobile devices more portable and easier to use, it is now helping to transform them into intelligent devices. Everything is designed to use less power, from the physical architecture to the usage models. To conserve power, a BLE system is typically kept in sleep mode. When an incident occurs, the gadget wakes up and sends a brief message to a gateway, PC, or mobile. The maximum/peak power consumption is less than 15 mA, while the average power consumption is roughly 1 A. The amount of active power used is one-tenth that of conventional Bluetooth. In low-duty-cycle applications, a button cell battery could last 5–10 years.

RESTRAINING FACTORS

"High Cost Associated with Security Concerns to Harm Market Growth"

According to security experts, pairing-related vulnerabilities pose a serious security concern. Due to its low power consumption capabilities, Bluetooth Low Energy was created for one-to-one connections as opposed to its predecessor Bluetooth Classic, which could support multiple user links. While Bluetooth Low Energy was developed to be mobile in a mesh topology for quick connections and dissociation, Bluetooth Classic is based on a mesh network.

Bluetooth Modules Market Regional Insights

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"Presence of Prominent Players in North America to Drive Market Share  "

North America is anticipated to have the largest Bluetooth Modules market share. Additionally, the number of applications for Bluetooth adapters by manufacturers of various electronic products, including gaming consoles, keyboards and mice, laptops, tablets, and others, is anticipated to increase in North America. Manufacturers are concentrating on industrial applications, particularly for the manufacturing industry, as the applications for Bluetooth adapters are rising.

Additionally, developing nations with large populations that use electronic devices and rising interest in wireless devices, like India, have recently created significant potential prospects for the Bluetooth adapter market, and the trend is anticipated to continue during the forecast period.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

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

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.