Bluetooth IC Market Size, Growth is set to expand 14.30% by 2030 | Increasing Adoption of Smart Wearables by 2030

Bluetooth IC Market Insights:

The Bluetooth IC Market was valued at USD 3,718.5 million in 2022 and is projected to grow at a CAGR of 14.30% from 2022 to 2030 to reach USD 28.2 billion.

A standardized protocol called Bluetooth IC is used in communications systems to wirelessly exchange data among a network of communication devices. Simply said, it is a security strategy that works well for wireless communication between electrical devices over small distances, uses minimal power, and is inexpensive. Smart wearables are a result of technological advancements in digital innovation in an era of smartwatches, smartphones, and smart televisions. Particularly during a crisis like the global epidemic, patients are increasingly using wearable smart devices to track their health. The most obvious application of IoT technology is in wearable devices like smartwatches and fitness trackers. The popularity of wearables has surpassed that of smartphones in the consumer electronics sector. These gadgets provide novel methods to carry out common tasks like checking messages and tracking physical activity. Due to the present pandemic, more people are recording and analyzing health data using smart wearables. Due to the constant demand for health assessments, the wearable industry has experienced rapid growth.

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Bluetooth IC Market Key Players:

• NXP Semiconductors NV (Netherlands)
• STMicroelectronics (Netherlands)
• Toshiba Corporation (Japan)
• Qualcomm Incorporated (United states)
• Texas Instruments Incorporated (United states)
• Nordic Semiconductor (Norway)
• Dialog Semiconductor (UK)
• Cypress Semiconductor (United states)
• Silicon Laboratories, Inc. (United states)
• Microchip Technology Inc. (United states)
• STMicroelectronics (Netherlands)

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Bluetooth IC Market Regional analysis:

North America, Europe, Asia-Pacific, and the Rest of the World are the five distinct regions that make up the global Bluetooth IC market. With a market value of USD 1,507.9 Million in 2021, North America held the highest market share; it is anticipated to see a CAGR of 14.30% over the course of the forecast period. With a market value of USD 1,075.4 Million in 2021, Asia Pacific was the second-largest region, and it is expected to grow at a CAGR of 15.0%.

The US, Canada, and Mexico are the three country-level segments of the North American market. Due to the adoption of smart buildings and the rising use of wireless devices, which in turn boosts the usage of Bluetooth IC, the US controls a significant portion of the North American Bluetooth IC market. The US has the highest adoption of Bluetooth IC because of the growing need for specialized Bluetooth audio devices that meet various demands for business, entertainment, and fitness. Due to the rising demand for Bluetooth IC across a variety of end-use verticals, the nation is anticipated to have the highest CAGR during the research period and hold the second-largest market share in the region. The major industry competitors are always offering more affordable and effective Bluetooth IC to the general public. However, throughout the anticipated time, the market will expand due to rising building security awareness and product promotions by businesses like Dialog Semiconductor, Nordic Semiconductor, and Texas Instruments Incorporated.

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Bluetooth IC Market Segmentation:

The Bluetooth IC Market has been broken down into several segments depending on the type, application, and geography of the market.

The global market for Bluetooth IC has been divided into three categories based on the kind of Bluetooth technology being used: Bluetooth, Bluetooth Low Energy, and Bluetooth Classic.

Smartphones, Beacons, Audi Devices, Human Interface Devices (HID), Health & Fitness, Remote Controls, Automotive, Industrial, and Other Applications are the Application-Based Segments That Make Up the Bluetooth IC Market.

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