The global bluetooth low energy market is projected to exceed US$ 9,523.0 million in 2023, with a predicted growth rate of 12.5% from 2023 to 2033, reaching an estimated US$ 31,015.5 million by 2033. In the period from 2018 to 2022, the market saw a consistent annual growth rate of 10.4%.
The growth in this sector can be attributed to the rising demand for devices that offer extended battery life and consume minimal power. These devices are mainly used for short-range data streaming, and they cater to the Internet of Things (IoT) enabled machines, which are prevalent in the consumer electronics and automotive industries. These machines typically require occasional and low-volume data transfers.
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Bluetooth low energy module is a popular and enhanced version of existing Bluetooth invention. Bluetooth low energy module is an open standard that is commonly used for short-range remote communication between devices.
Bluetooth low energy module is primarily concerned with a few factors such as low energy, small size, and battery operated sensor type application. Furthermore, Bluetooth low-energy modules are designed for a fixed amount of data rather than intermittent data streaming.
Bluetooth low energy module is particularly created to address the expanding need of cutting edge remote applications like quick network of gadgets, super low power utilization, dependability, and security. Besides, bluetooth low-energy modules are additionally embraced for home mechanization and car area.
Bluetooth Low Energy: Drivers and Challenges
The major factor driving the market growth of bluetooth low energy module will be the surge in usage of the internet of things (IoT). The concept of the internet of things is rapidly growing in enterprises, aiming to interconnect each and every unconnected thing including persons and machine to cast interconnecting networks such as machine-to-machine (M2M), people-to-people (P2P) and machine-to-people (M2P) using wireless sensors network.
Some of the major players like Nordic Semiconductors and Cambridge silicon radio are offering development kit for establishing wireless applications instantly without any finesse of radio frequency connectivity. Moreover, bluetooth low energy modules are likely to boost significant traction owing to rising demand for consumer electronics
The major challenges faced by Bluetooth low energy market is low data streaming capacity of low energy bluetooth modules.
Bluetooth Low Energy Market: Regional Overview
Presently, North America and European region are holding largest market share of bluetooth low energy market owing to rise in urbanization and high adoption of consumer electronics devices.
In Asia pacific region, bluetooth low energy market is witnessing positive growth owing to rapid industrialization and heavy demand for Bluetooth enable devices.
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