Bluetooth 5.0 Market Size To Surpass USD 11.84 Billion By 2032 SNS Insider

(MENAFN- EIN Presswire) The Bluetooth 5.0 market is expanding with demand for low-power, high-speed wireless connectivity, driving growth in IoT, Audio devices, and smart technologies.

AUSTIN, TX, UNITED STATES, February 7, 2025 /EINPresswire / -- The Bluetooth 5.0 Market size was USD 4.62 Billion in 2023 and is expected to reach USD 11.84 Billion by 2032, growing at a CAGR of 11.04% over the forecast period of 2024-2032. Bluetooth 5.0 is increasingly being integrated into various applications including consumer electronics, healthcare, automotive, and smart homes, which help to expand the IoT ecosystem.

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Keyplayers:
Qualcomm – Qualcomm QCC514X Bluetooth Audio SoC
Broadcom – BCM4356 Bluetooth 5.0 SoC
Intel – Intel Wireless-AC 9560 (Bluetooth 5.0)
Texas Instruments – SimpleLink Bluetooth 5.0 SoC
NXP Semiconductors – NXP KW41Z Bluetooth 5.0 Solution
Nordic Semiconductor – nRF52840 Bluetooth 5.0 SoC
Microchip Technology – ATBTLC1000 Bluetooth 5.0 Module
STMicroelectronics – BlueNRG-2 Bluetooth 5.0 SoC
Qualcomm Atheros – Qualcomm QCA9377 Bluetooth 5.0 Chipset
MediaTek – MT2523 Bluetooth 5.0 System-on-Chip
CSR (a subsidiary of Qualcomm) – CSR1010 Bluetooth 5.0 Module
Roku – Roku Wireless Speakers (Bluetooth connectivity)
Samsung Electronics – Galaxy Buds (Bluetooth 5.0)
Apple – AirPods Pro (Bluetooth 5.0)
Harman International – JBL Flip 5 Bluetooth Speaker
Sony Corporation – Sony WH-1000XM4 Headphones (Bluetooth 5.0)
Broadcom – BCM43455 Bluetooth 5.0 SoC
Anker Innovations – Soundcore Liberty Air 2 Pro (Bluetooth 5.0)
Garmin Ltd. – Garmin Forerunner 245 Music (Bluetooth 5.0)
Fitbit (Google) – Fitbit Charge 5 Fitness Tracker (Bluetooth 5.0)

By Offering, Hardware Leads the Market, While the Software Segment is Poised for Rapid Growth
The Hardware segment holds the largest share, accounting for more than 42.0% of the market in 2023. This is mainly because of the increasing usage of Bluetooth devices, such as headphones, speakers, wearables, and automotive systems. Premium hardware like Bluetooth chips, transmitters, and receivers are in high demand because wireless technology is expanding in consumer and industrial applications.

The Software segment, however, is expected to experience the highest growth rate during the forecast period. This is due to the increasing need for advanced software solutions that integrate with Bluetooth devices, ensuring improved functionality, security, and connectivity.

By Organizational Size, Large Enterprises Lead Market Share, While SMEs Set for Rapid Bluetooth 5.0 Adoption
Large Enterprises dominate the market, holding 70.28% of the revenue share in 2023. The reason for this is that larger organizations have the infrastructure, budget, and resources to support advanced wireless technologies such as Bluetooth 5.0. More and more, these enterprises are using Bluetooth in applications involving automotive, healthcare, manufacturing, and retail, all of which depend on wireless connectivity and real-time data transfer.
Small and Medium-Sized Enterprises (SMEs) are also expected to grow in the forecasted period 2024-2032, seeing rapid adoption of Bluetooth 5.0 technology due to the growing cost-effectiveness and scalability of Bluetooth solutions.

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By Application, Audio Streaming Dominates in 2023, While Data Transfer Emerges as Fastest-Growing Segment
The Audio Streaming application segment dominated in 2023. The demand for wireless audio solutions, mainly in headphones, earbuds, and portable speakers, has increased significantly, and this is the main reason. Bluetooth 5.0 allows for higher sound quality, increased range, and improved power efficiency, so it is widely preferred by both manufacturers and consumers.

Data Transfer is anticipated to be the fastest-growing segment in the forecasted period. The increasing proliferation of IoT devices, coupled with the need for high-speed, reliable data transfer, will fuel the growth of this application.

By Region, North America Leads Bluetooth 5.0 Market, While APAC Expected to See Fastest Growth
In terms of regional development, North America is the dominant player in the Bluetooth 5.0 market, accounting for 36% of the revenue share in 2023. This dominance is attributed to the region's technological advancements, strong infrastructure, and high IoT device penetration rates.

Asia-Pacific (APAC) is poised for the highest growth rate in the Bluetooth 5.0 market due to rapidly increasing urbanization, higher disposable incomes, and widespread adoption of Bluetooth-enabled devices.

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