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Bluetooth Low Energy Market Estimated to Reach $16.7 Billion Mark by 2026

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Bluetooth Low Energy Market Estimated to Reach $16.7 Billion Mark by 2026

April 22
21:37 2021
Bluetooth Low Energy Market Estimated to Reach $16.7 Billion Mark by 2026

Bluetooth Low Energy Market
Burgeoning Bluetooth Low Energy Maker Movement and Adoption of IoT Solutions Driving the Growth of Bluetooth Low Energy Market

The global Bluetooth Low Energy Market is estimated to surpass $16.7 billion mark by 2026 growing at an estimated CAGR of more than 19.68% during the forecast period 2021 to 2026. Bluetooth Low Energy Market (BLE) has been lately introduced as an integral part of Bluetooth V4.0. The speciality of BLE protocol lies in its consumption of minimal amount of power from the device in which it is integrated. Asset tracking and Proximity Marketing are exclusive applications of BLE that were made feasible by the low energy consumption of BLE modules and chipsets. Asset Tracking refers to the location-based tracking of personal equipment by attaching smart tags to them. The smart tags in the current asset tracking market are based on BLE protocol that has the ability to locate the misplaced personal equipment and its utilization.

Bluetooth Low Energy Market Segment Analysis – By Product Type

Bluetooth Low Energy hardware is offered via two solutions: chipsets or modules. Bluetooth Low Energy chipsets are integrated circuits that incorporate a microprocessor along with protocol stacks while Bluetooth Low Energy module is an assembled circuit consisting of Bluetooth Low Energy chipset and radio module along with other electronic components. The manufacturer can offer both the hardware solutions depending upon the production volume. Generally, if the production volume ranges less than 100,000 units; modules are preferred while for production volumes above 100,000 units; Bluetooth Low Energy chipsets are manufactured. The module integrates RF, a baseband controller, and a command API processor, making it as a complete Bluetooth Low Energy solution which suitable for various applications. But with every emerging solution using Bluetooth Low Energy technology, there is also a necessity for installing applications (apps) pertaining to each solution, thus creating a huge scope for the growth of market.

Bluetooth Low Energy Market Segment Analysis – By Application

The automotive industry is an eminent end-user for Bluetooth Low Energy market deploying the technology predominantly in its wireless multimedia receivers and audio systems. A significant share of the market currently lies in the automotive aftermarket but with Bluetooth Low Energy receiving a wide support facilitated by its features, the original equipment manufacturers (OEM’s) in the automotive industry are integrating the audio and multimedia systems in the automobiles, expected to surge Bluetooth Low Energy market in the OEM automobile domain. The Industrial Automation is also a notable sector for wireless connectivity market. In the current scenario ZigBee and Wi-Fi are the most dominant wireless protocols embedded inside industrial automation devices followed by Bluetooth. The sensors and industrial hubs are common devices that are being integrated with wireless radio modules in the industrial automation.

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Bluetooth Low Energy Market Segment Analysis – By Geography

The APAC region dominated the BLE market in terms of regional presence. As the APAC region economy is rapidly inclining towards an interconnected world, wireless technology will play a prominent role in the future to enhance the connectivity between any desirable equipment. All this equipment will be embedded with wireless modules based on ultra-low power concept to sustain their operations for a longer period of time, thereby creating robust opportunities for BLE, an ultra-low power technology to boom across several end-user industries such as automotive, wireless audio and infotainment devices, wearable electronics, industrial and home automation and many others. China is the world’s second largest economy and Asia’s biggest market for BLE technology. It has made fast advances in areas such as education, infrastructure, high-tech manufacturing, academic publishing, patents and commercial applications and is now in some areas and by some measures a world leader.

Bluetooth Low Energy Market Drivers

Burgeoning Bluetooth Low Energy Maker Movement

The ratification of Bluetooth v4.0 specification followed by native support for technology by eminent mobile operating system vendors such as Android, iOS and Windows, has led a disruptive change in the Bluetooth Low Energy market. The ability of Bluetooth Low Energy protocol to establish a simple wireless connectivity to master devices such as tablets, smartphones and many other hub devices has enabled new innovations in several markets including smartphones appcessory, automotive, computer peripherals, wearable electronic gadgets and many others. The remarkable factor advancing Bluetooth Low Energy into the mainstream is the surge in ‘crowd funding’ for companies with valuable ideas on how wireless connectivity can enhance the product. This has facilitated the ‘maker’ movement consisting of amateur engineers and keen hobbyists who are excited about evolving unique Bluetooth Low Energy applications, thereby accelerating the overall market.

Adoption of IoT Solutions

Presently, growing demand for low maintenance, powered wireless sensing equipment coupled with the developments in Internet of Things are accounting for significant growth in the market. IoT defines a system in the physical world with the aid of embedded wireless sensors that can be connected to Internet via wired or wireless connection. These sensors have the ability to form wireless connections through several options such as RFID, NFC, Bluetooth, Bluetooth Low Energy (BLE) or Zigbee. According to EnOcean GmbH, currently 14 billion wireless sensor networks (WSN’s) devices in low power mode across the globe has trashed about 400 TWh (terawatt-hour) of electricity. However, by 2020 with 50 million devices, the consumption will increase by factor 3.5 to over 1,400 TWh. Thus, Bluetooth Low Energy (BLE) assisted by its low power consumption attribute has the highest probability for penetrating the market deep, thereby creating a strong growth prospects for it in the near future particularly in remote healthcare and automotive markets.

Bluetooth Low Energy Market Challenges

One to One Device Pairing

Unlike its predecessor Bluetooth Classic that has the ability to support multiple device connections, the Bluetooth Low Energy enhanced by its low power consumption feature has been optimized for one-to-one connections. The Bluetooth Classic is based on mesh network while Bluetooth Low Energy has been designed to be mobile in mesh topology using quick connection and disconnection ability. Although a Bluetooth Low Energy enabled hub/master device can remain connected to multiple Bluetooth Smart devices but vice-versa is not possible. Hence, this creates a limitation for user to transfer data form a single Bluetooth Smart enabled sensing device to multiple hub devices. This is a point of concern for professional sport persons who consistently need to scan several performance parameters on multiple monitoring devices.

Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the BLE Market. Panasonic Corporation, MediaTek Inc., Nordic Semiconductors, Murata Manufacturing Co Ltd, Cypress Semiconductor, and others are considered to be the key players of the BLE Market.

Acquisitions/Technology Launches/Partnerships

Murata launched Nordic-based BLE module, MBN52832. The BLE module equipped with Nordic Semiconductor’s nRF52832 IC, a 32 MHz crystal for timing, and an on-board antenna.

Panasonic launched new PAN 1760 series RF module for the advanced wireless connectivity in IoT, medical and industrial applications.

Key Takeaways

A significant share of the market currently lies in the automotive aftermarket but with Bluetooth Low Energy receiving a wide support facilitated by its features, the original equipment manufacturers (OEM’s) in the automotive industry are integrating the audio and multimedia systems in the automobiles, expected to surge Bluetooth Low Energy market in the OEM automobile domain.

The dual mode shares the protocol stacks of both Bluetooth Classic and Bluetooth Low Energy, thus making it the most sought out option for replacing the conventional Bluetooth Classic chips or modules.

Low energy consumption, low latency, quick connection set-up speed and robust network connection has made Bluetooth Low Energy the obvious choice for supporting the wearable electronic devices wireless connectivity infrastructure.

Once the Bluetooth Low Energy-based product or module is fabricated, they are sent further for certification process followed by distribution across the regional or global customer base.

Related Reports :

A. APAC Bluetooth Low Energy Market

B. Energy Harvesting Market

For more Electronics Market reports, Please click here

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