Global Bluetooth 5.0 Market Overview And Statistics For 2024-2033

The Business Research Company's Bluetooth 5.0 Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global Bluetooth 5.0 market is projected to grow from $4.42 billion in 2023 to $4.96 billion in 2024, at a CAGR of 12.2%. The market is anticipated to reach $7.89 billion by 2028 at a compound annual growth rate (CAGR) of 16.5%, driven by the increasing adoption of IoT devices, expansion in smart home applications, and the growing integration of Bluetooth 5.0 in automotive connectivity.

Growth of Connected Cars to Propel Market Expansion
The growth of connected cars is a key factor driving the Bluetooth 5.0 market. Connected cars, equipped with internet connectivity and advanced communication technologies, rely on Bluetooth 5.0 for high-speed wireless communication. This enables secure and efficient connectivity for in-car infotainment, hands-free calling, and smart device integration. According to Sierra Circuits, the global connected car market is expected to reach $156.5 billion by 2025, growing at a CAGR of 21.75% from 2021. The increasing adoption of connected cars is, therefore, a significant contributor to the growth of the Bluetooth 5.0 market.

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Major Players and Market Trends
Leading companies in the Bluetooth 5.0 market include Qualcomm Technologies Inc., Nordic Semiconductor ASA, MediaTek Inc., Broadcom Inc., Silicon Laboratories Inc., and Realtek Semiconductor Corp. These companies are focused on developing advanced chipsets with Bluetooth 5.0 and Wi-Fi 5 support, particularly for entry-level gaming phones. For example, in February 2023, MediaTek launched the Helio G36 chipset, which features Bluetooth 5.0 and Wi-Fi 5 support, aimed at enhancing performance in entry-level gaming phones.

Segments:
• Component: Hardware, Solutions, Software Development Kit, Protocol Stacks, Services
• Application: Audio Streaming, Data Transfer, Location Services, Device Networks
• End-User: Consumer Electronics, Automotive, Healthcare, Industrial Automation, Other End Users

North America Leading the Market
North America was the largest region in the Bluetooth 5.0 market in 2023 and is expected to be the fastest-growing region during the forecast period. The region's growth is driven by the widespread adoption of IoT devices, smart home applications, and the increasing demand for connected cars.

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Bluetooth 5.0 Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Bluetooth 5.0 Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on bluetooth 5.0 market size, bluetooth 5.0 market drivers and trends, bluetooth 5.0 market major players, bluetooth 5.0 competitors' revenues, bluetooth 5.0 market positioning, and bluetooth 5.0 market growth across geographies. The bluetooth 5.0 market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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