Bluetooth Low Energy (BLE) Technology Market Key Trends And Forecast Report 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Bluetooth Low Energy (BLE) Technology Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bluetooth low energy (BLE) technology market size has grown steadily in recent years. It will grow from $9.17 billion in 2023 to $9.58 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to Increased demand for connected devices, increased demand for IoT devices, rose adoption of wearable technology, expanded applications in healthcare and fitness, grew need for low-power wireless connectivity..

The bluetooth low energy (BLE) technology market size is expected to see steady growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to integration with smart home devices, development of bluetooth mesh technology, demand for location-based services, and demand for asset tracking. Major trends in the forecast period include adoption in IoT devices, integration into automotive systems, integration with 5G technology, expansion into smart home technology, and advancements in bluetooth low energy SoC technology.

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Market Drivers and Trends:

The rising adoption of smart home devices and IoT is expected to propel the growth of the bluetooth low-energy (BLE) technology market going forward. Smart home IoT (Internet of Things) connected devices refer to a range of household appliances, systems, and gadgets that are designed to be interconnected and controlled remotely or automatically through the internet or a local network. The growing demand for convenience, enhanced security, energy efficiency, and remote control of home functions drive the rising adoption of smart home devices and IoT. Bluetooth low energy (BLE) technology in smart home devices and IoT enables low-power, cost-effective wireless communication for efficient device connectivity and control. For instance, in November 2022, according to Ericsson, a Sweden-based network and telecommunications company, the number of IoT-connected devices will increase to 34.7 billion by 2028, up from 13.2 billion in 2022, with 28.7 billion of these devices connecting via local short-range LPWANs and 6 billion through wide-area networks, including private cellular networks. Therefore, the rising adoption of smart home devices and IoT will drive the growth of the bluetooth low energy (BLE) technology market.

Major companies operating in the bluetooth low energy (BLE) technology market are focusing on advanced wireless sensor technology, such as System-on-Chip (SoC), to enhance connectivity, reduce power consumption, and enable innovative applications in IoT, healthcare, and wearable devices. Bluetooth low-energy System-on-Chip (SoC) integrates a microcontroller, radio, and BLE protocol stack into a single chip, offering efficient, low-power wireless communication for a variety of applications. For instance, in June 2022, Renesas Electronics Corporation, a Japan-based semiconductor manufacturer, launched the SmartBond DA1470x Family, the world's most advanced Bluetooth low energy (LE) System-on-Chip (SoC), integrating power management, hardware voice activity detection, GPU, and Bluetooth LE connectivity into one chip, ideal for wearables, consumer medical devices, and home appliances. High integration yields cost savings on the BoM, enabling affordable solutions while reducing PCB component count for compact designs and space optimization. The new product family features a compact form factor and integrates applications and 2D graphics processors, a voice activity detector, and power management, making it ideal for small IoT product designs.

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Major Key Players of the Market:

Amazon Inc., Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Huawei Technologies Co. Ltd., Sony Group Corporation, Intel Corporation, Qualcomm Incorporated, Xiaomi Corporation, Broadcom Inc., Texas Instruments Incorporated, Koninklijke Philips N.V., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology Incorporated, Logitech International S.A, Garmin Ltd., Cypress Semiconductor Corporation, Razer Inc., Jabra, Quectel Wireless Solutions Co. Ltd., Fitbit Inc., Nordic Semiconductor ASA, Sierra Wireless Inc., Sennheiser electronic GmbH & Co. KG, Telit Communications PLC

Bluetooth Low Energy (BLE) Technology Market 2024 Key Insights:

• The bluetooth low energy (BLE) technology market size is expected to see steady growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
• Impacts Of Smart Home And Iot Adoption On BLE Technology Market
• Innovative Applications Enabled by Bluetooth Low Energy System-on-Chip (SoC) Technology
• North America was the largest region in the bluetooth low energy (BLE) technology market in 2023

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