Bluetooth Low Energy Module Market - Forecast(2024 - 2030)

Bluetooth Low Energy Modules Market is estimated to surpass $6.7 billion by 2026 at a CAGR of 15.2% majorly driven by surge in adoption of Internet of Things (IoT) for interconnecting networks using wireless sensor networks such as machine-to-machine (M2M), people-to-people (P2P) and machine-to-people (M2P). The demand for Bluetooth enable devices owing to rapid industrialization along with high adoption of consumer electronics devices in the developing countries such as China, India, Malaysia and others have driven the growth of the market. Data transfer and exchange of data within a short range is possible due to low power consumption owing to which Bluetooth low energy modules are widely deployed. In the recent years, the development of beacon technology digital marketing, indoor positioning, electronic payment and other such applications are gaining traction. Beacons use proximity technology to detect human presence nearby and trigger preset actions to deliver informational, contextual, and personalized experience and it is a part of IoT.

The report: “Bluetooth Low Energy Module Market Report– Forecast (2021-2026)”, by IndustryARC covers an in-depth analysis of the following segments of the Bluetooth Low Energy Module market

By Mode: Single Mode, Dual Mode

By Application: Gaming, Wearable Electronics, Industrial and Building Automation, Consumer Electronics, Asset Tracking and Proximity Marketing, Automotive, Telecom, Electronic Devices, Sports and Fitness, Healthcare and Others

By Geography: North America (U.S, Canada, Mexico), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Australia and Others), South America(Brazil, Argentina and others), and RoW (Middle East and Africa)

Single-mode gadgets only accept Bluetooth low energy as a mode of communication and is projected to grow at 21.8% CAGR through 2026. These devices cannot connect directly with Bluetooth classic devices, however they are highly designed for Bluetooth low energy and therefore reap the full benefits of this technology. Single mode BLE's existence is so inextricably linked to the phenomenal rise of smartphones, laptops, and mobile computing, it has progressed far more quickly. Single mode BLE's early and successful acceptance by smartphone industry heavyweights like Apple and Samsung paved the way for its widespread adoption. As the smartphone and tablet markets mature and prices and margins shrink, the need for connectivity with the outside world on these platforms continues to increase, providing peripheral vendors with a rare opportunity to deliver creative solutions to issues that people might not even be aware of today. Several advantages have converged around single mode BLE, and the floodgates have opened for tiny, nimble product designers to obtain access to a potentially large market for task-specific, imaginative, and revolutionary products on a comparatively small design budget. Today, users can get all-in-one radio-plus-microcontroller (system-on-chip) systems for just under $2 per chip and in small quantities, which is far less than the total cost of equivalent wireless technologies such as WiFi, GSM, Zigbee, and so on. BLE enables to create feasible devices that can communicate with any new smartphone platform using simple chips, software, and standards.

Asset Tracking segment is projected to grow at the fastest rate of 43.2% through 2026. With the use of smartphones the BLE signals are detected. The server checks the data sent by the smartphone providing personalized campaigns such as greeting the customers at entry, notifying special offers, product discounts, or getting feedback. This in turn attracts more and more customers increasing the sales. BLE modules installed on every item enable fast tracking and tracing. In addition, it acts as a digital and IoT infrastructure. The retail vendors are able to establish a whole new level of direct and indirect communication between themselves and the customers and a position-related information can be displayed directly on the shopping cart through the BLE mesh.

Bluetooth Low Energy Module market in Asia-Pacific region held significant market share of 35.9% in 2020. The Bluetooth Low Energy (BLE) Market is witnessing a significant growth in North America due to upsurge in consumer electronics sector owing to the growth of laptops, tablets and other electronic gadgets largely for business needs, work from home scenario for the COVID-19 pandemic, online classes, gaming sectors along with the adoption of smart technologies in industries such as Automotive and Industrial Automation. According to Intelligence Node, the number of smartphone users in United States crossed 260 million in April 2020, and smartphone shipments reached 161 million units in 2019. This indicates the growth of the market as the BLE modules are deployed in the smartphones interfacing smart devices such as smart watches, smart locks and others and the information is displayed in the smart phone. Increasing penetration of IoT in Canadian markets have surged the adoption of BLE technology for tracking and monitoring of vital assets, which has become much simpler through the use of this technology. Moreover, connected sensors that transmit the location of vehicles are used to track the status of machines and containers fuelling the market growth.

The Internet of Things (IoT) refers to a device that operates in the physical world using embedded wireless sensors that can link to the Internet through wired or wireless connections. RFID, NFC, Bluetooth, Bluetooth Low Energy (BLE), and Zigbee are indeed a few of the wireless connectivity solutions available to these sensors. Big Data and the Internet of Things (IoT) are thriving at a rapid pace as a result of technical advances in a diverse array of market verticals. These developments are often included in high-end Bluetooth Low Energy (BLE) modules, which is propelling the demand for Bluetooth Low Energy (BLE) modules forward at a rapid pace. Natural Language Processing (NLP), facial recognition, and Artificial Intelligence are all supported by analytics in Bluetooth Low Energy (BLE) modules. The application platform for Bluetooth Low Energy (BLE) modules are growing, with instances including baby tracking, traffic monitoring, and automated number plate recognition. According to EnOcean GmbH, approximately 400 TWh (terawatt-hour) of energy has been wasted by 14 billion wireless sensor networks (WSNs) users in low power mode around the world. However, with 50 million smartphones, demand will rise by 3.5 times to over 1,400 TWh by 2022. As a result of its low power consumption, Bluetooth Low Energy (BLE) has the best chance of entering the market deeply, resulting in good growth opportunities in the near future, especially in the remote healthcare and automotive industries.

Bluetooth Low Energy is a smarter, more energy-efficient variant of the Bluetooth wireless technology. It is now contributing to turn mobile devices into intelligent devices by making them more portable, and simple. Anything, from the physical architecture to the usage models, is geared toward reducing power consumption. A BLE system is kept in sleep mode for the majority of the time to save power. The device wakes up when an incident happens, and a brief message is sent to a gateway, PC, or mobile. The average power usage is around 1 A and the maximum/peak power consumption is less than 15 mA. The active power consumption is a tenth of that of traditional Bluetooth. A button cell battery could last 5-10 years in low-duty-cycle applications. The Bluetooth low energy (BLE) modules are built in such a way that they can operate for four to five years on a single charge. The BLE technology is expensive, but it has a wide variety of applications. Unlike standard Bluetooth, the Bluetooth low energy (BLE) module does not generate heat. Furthermore, data transfer can be accomplished at a higher rate. The Bluetooth low energy (BLE) module has a higher throughput and a longer range than the standard Bluetooth module.

Security researchers say vulnerabilities during pairing constitute a severe security risk. Unlike its predecessor Bluetooth Classic, which could accommodate multiple user links, Bluetooth Low Energy has been designed for one-to-one connections, owing to its low power consumption functionality. Bluetooth Classic is built on a mesh network, while Bluetooth Low Energy was created to be mobile in a mesh topology for fast connectivity and disconnection. While a Bluetooth Low Energy powered hub/master computer will connect to several Bluetooth Smart devices, the reverse is not valid. As a result, the user's ability to send data from a single Bluetooth Smart powered sensing device to multiple hub devices is restricted. This is a source of worry for top players who must scan various output metrics on multiple tracking systems on a regular basis. In April 2020, researchers at The Ohio State University recently developed an automated app analysis tool and used it to identify 1,757 vulnerable free BLE apps in Google Play store. They also performed a field test in which 7.4% of 5,822 BLE devices were vulnerable to unauthorized access.

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Bluetooth Low Energy Module market. Bluetooth Low Energy Module top companies include STMicroelectronics, Cypress Semiconductor, Murata, Panasonic and Texas Instruments among others.

Report Code: ESR 88542