The global Bluetooth low energy market is anticipated to surpass USD 9,523.0 million in 2023, forecast to thrive at a CAGR of 12.5% from 2023 to 2033, and expected to reach USD 31,015.5 million by 2033. From 2018 to 2022, the market experienced a CAGR of 10.4%.
Growth is attributed to increased demand for low power-high battery life and short-range streaming devices, nonetheless for low and infrequent data transfers across Internet of Things (IoT) enabled machines, amidst the consumer electronics and automotive industries.
Bluetooth low-energy modules are an improvisation of the already existing Bluetooth model. Bluetooth low energy modules are ideal for low data streaming and not suitable for extensive streaming, leaving the task to the more conversant blue tooth model.
Bluetooth low energy module is an open source software and a power-sustaining version of Bluetooth personal area network (PAN) technology, ideally used by Internet of Things (IoT) enabled machine network topology.
Bluetooth low energy is an independent standard that is incompatible with the "classic" Bluetooth. The latter was first introduced commercially over 20 years ago and is now essentially no longer being developed by the Bluetooth Special Interests Group (SIG).
Meanwhile, SIG introduced Bluetooth Low Energy in its 2010 Bluetooth 4.0 specification (with later, 2016 Bluetooth 5 specification, being devoted exclusively to BLE). Its main focus was on the growing market of health- and fitness-related devices and smart home and indoor use.
Fitness trackers and smart appliances have Bluetooth low energy technology enabled in them, with low power consumption that Bluetooth low energy is hailed for.
Bluetooth low energy is known to use frequency-hopping wireless technology to connect nearby devices in an M2M endeavor. Bluetooth low energy module is mainly configured for wireless applications, and connecting devices, featuring low power consumption, strong reliability, and security. This product can take up applications suited for home automation and the automotive sector.
| Attributes | Details |
|---|---|
| Bluetooth Low Energy Market Share (2022) | USD 8,587.0 million |
| Bluetooth Low Energy Market Share (2023) | USD 9,523.0 million |
| Bluetooth Low Energy Market Share (2033 | USD 31,015.5 million |
| Bluetooth Low Energy Market Share (2023 to 2033) | 12.5% |
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The major factor aiding Bluetooth low energy module to grow is its use in IoT connectivity. With the rollout of 5G in major sectors, the IoT is poised for high growth with M2M connectivity and M2P connectivity using wireless sensor technology. This factor is adding momentum to Bluetooth low energy module market.
With the growing prevalence of the consumer electronics segment across the globe, Bluetooth low energy market has assumed significant prominence. Low cost, hours of battery life, and ease of installation retain significance in the consumer electronics category.
The outstanding factor advancing Bluetooth low energy into the mainstream is the surge in ‘crowd funding’ for companies with invaluable ideas on how wireless connectivity can improve the product. Bluetooth low energy devices enable intermittent short-range data between devices and all it uses is a pea-size battery. This product can be used indoors as a beacon broadcasting data to all devices in proximity, unlike GPS.
The major challenge faced by Bluetooth low energy market is the low data streaming capacity of low energy Bluetooth modules. Moreover, heightened cyber security vulnerabilities are a major concern for Bluetooth low energy communications technology, particularly in medical devices.
According to the United States Food & Drug Administration, this fragility could allow unauthorized users to wirelessly crash a device, prevent it from working, or access functions limited to its users.
Bluetooth low energy is a mainstay among devices found in hospitals and on retail store shelves. With more devices embracing wireless communications each day, a flaw in the technology providing full access to medical devices is a major risk to digital health product manufacturers, not to mention their customers.
Medical devices are becoming increasingly connected, and connected devices have inherent risks, which make them vulnerable to security breaches. These breaches potentially impact the safety and effectiveness of the device and, if not remedied, may lead to patient harm.
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According to Future Market Insights, the North America market for Bluetooth low energy captured 30.2% of the global market shares in 2022. As per the report, the North American market appears lucrative primarily because of extensive technological advancements across various end-use industries. A major application of this technology is in furthering 5G connectivity.
It is expected that 5G subscription penetration across North America will reach 90% of all users by 2027. Although deployed in a phased manner, 5G is expected to be fully available across all regions of the continent.
A core proposition of 5G deployment is providing enhanced mobile broadband to the consumer market, with massive IoT and ultra-reliable, low latency communications gaining scale at a later stage.
5G-based fixed wireless as well as 5G-based services targeted towards the enterprise sector are likely to represent major incremental opportunities in the future. Hence, the requirement for Bluetooth low energy is increasing at a significant pace.
Besides providing enhanced connectivity, 5G deployment is also focusing on optimum energy consumption, advocating low power requirements, a function that is also shared by Bluetooth low energy technology.
As Europe seeks to fast track its energy efficiency directive, major industries are aiming to curtail power and energy consumption requirements. This is likely to broaden the scope for Bluetooth low energy requirements across major verticals in the long run.
The European Union, which aims to ensure that at least 55% of greenhouse gas emissions should be reduced by 2030, is actively proposing the deployment of low energy and power consumption frameworks.
To step up its efforts, the European Commission put forward, in July 2021, a proposal for a new directive on energy efficiency as part of the package “Delivering on the European Green Deal”.
The proposal for the revised directive promotes ‘energy efficiency first’ as an overall principle of E.U energy policy, and marks its importance and relevance in both its practical applications in policy and investment decisions. The revised directive requires EU countries to collectively ensure an additional reduction of energy consumption of 9% by 2030 compared to the 2020 reference scenario projections.
This 9% additional effort corresponds to the 39% and 36% energy efficiency targets for primary and final energy consumption outlined in the Climate Target Plan.
A major contribution in this regard is to reduce energy consumption across various electronic devices. Hence, the reliance on Bluetooth low energy systems is expected to rise significantly across Europe.
Besides imparting energy efficiency, Bluetooth low energy infused devices are also very economical. Based on these trends, it is likely that the European market will account for 22.9% of the global industry revenue share.
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With the constantly increasing demand for low energy consumption, Bluetooth low energy services are gaining ground across several application areas.
Key start-ups in this domain are concentrating on introducing product lines imbued with low energy configurations across a wide range of applications. Some notable start-ups offering Bluetooth low energy devices and solutions are as under:
| Company Name | Lava |
|---|---|
| Origin | United States |
| Year of Establishment | 2012 |
| Company Name | ShotTracker |
|---|---|
| Origin | United States |
| Year of Establishment | 2013 |
| Company Name | CWB Tech |
|---|---|
| Origin | Hong Kong |
| Year of Establishment | 2012 |
| Company Name | Quupa |
|---|---|
| Origin | Finland |
| Year of Establishment | 2012 |
| Company Name | Salted Venture |
|---|---|
| Origin | South Korea |
| Year of Establishment | 2015 |
| Company Name | CliniCloud |
|---|---|
| Origin | Australia |
| Year of Establishment | 2012 |
| Company Name | Perenio |
|---|---|
| Origin | Czech Republic |
| Year of Establishment | 2017 |
| Company Name | Wiliot |
|---|---|
| Origin | Israel |
| Year of Establishment | 2017 |
Some of the key participants present in the global bluetooth low energy market include Intel Corporation, Lenovo Group Ltd., Microsoft Corp., Motorola Solutions Inc., Nokia Corp., Toshiba Corp., IBM Corp., Ericsson Technology Licensing AB, Panasonic Corp., Bluegiga Technologies, Nordic Semiconductors, Koninklijke Philips NV, Cambridge Silicon Radio, Texas Instruments, Samsung Electronics Co. Ltd., MyLand Limited, Qualcomm Inc., Nike Inc., LG Corp, and Ellisys S.A. among others.
Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Nokia Corp., Toshiba Corp., and IBM Corp. account for a considerable market size, several regional level players are also operating across key growth regions.
Recent Developments Observed by FMI:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASEAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Technology, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The Bluetooth low energy market size is expected to reach USD 9,523.0 million in 2023, with a forecasted surge to surpass USD 31,015.5 million by 2033.
The Bluetooth low energy market size reached USD 8,587.0 million in 2022, exhibiting a 10.4% CAGR.
Given their rising emphasis on energy-efficient solutions, the United States, China, and Japan stand out in driving Bluetooth low energy demand.
Evolving healthcare applications and expansion in smart home devices are emerging trends in the Bluetooth low energy market.
Healthcare, consumer electronics, and automotive are forefront industries adopting Bluetooth low energy for improved services and operations.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technology 5.1. Integrated Module 5.2. Discrete Solutions 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Consumer Electronics 6.2. Sports and Fitness 6.3. Automotive 6.4. Healthcare 6.5. Industry Automation 6.6. Sensing 6.7. Medical Applications 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Intel Corporation 17.2. Lenovo Group Ltd. 17.3. Microsoft Corp. 17.4. Motorola Solutions Inc. 17.5. Nokia Corp. 17.6. Toshiba Corp. 17.7. IBM Corp. 17.8. Ericsson Technology Licensing AB 17.9. Panasonic Corp. 17.10. Bluegiga Technologies 17.11. Nordic Semiconductors 17.12. Koninklijke Philips NV 17.13. Cambridge Silicon Radio 17.14. Texas Instruments 17.15. Samsung Electronics Co. Ltd. 17.16. MyLand Limited 17.17. Qualcomm Inc. 17.18. Nike Inc. 17.19. LG Corp 17.20. Ellisys S.A. 18. Assumptions & Acronyms Used 19. Research Methodology
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Bluetooth Low Energy Market
