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Bluetooth 5.0 Market Size, Landscape, Industry Analysis, Business Outlook, Current and Future Growth to 2030

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Rising demand for connected wearables is a key factor driving Bluetooth 5.0 market revenue growth

Market Size – USD 3.45 Billion in 2021, Market Growth – at a CAGR of 10.8%, Market Trends – Rising trend to use Bluetooth 5.0 in the medical sector”

— Emergen Research

VANCOUVER, B.C., CANADA, January 23, 2023 /EINPresswire.com/ — According to the most recent analysis by Emergen Research, the global market for Bluetooth 5.0 reached USD 3.45 billion in 2021 and is anticipated to grow at a revenue CAGR of 10.8% over the projected period. The primary element propelling market revenue growth is the increase in demand for linked wearables.

As it greatly contributes to safe, trustworthy, and dependable IoT and wireless networking technology, Bluetooth 5.0 is gaining popularity. The demand for training, service, and support is increasing due to the fast development of networking technologies. Additionally, compared to its predecessors, such as Bluetooth 4.2, it is significantly more capable of audio streaming. Because it enables the transmission of eight times more data at twice the speed and more than four times the range, Bluetooth 5.0 is considered as a trustworthy technology. Due to Bluetooth 5.0’s higher bandwidth, two devices can transmit simultaneously. This implies that the user can start creating a stereo effect, broadcast audio to various rooms, stream another audio programme, or exchange audio between two pairs of headphones.

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Some Key Highlights from the Report
Hardware segment revenue is expected to increase at a steady revenue growth rate over the forecast period owing to the rising demand for hardware implementations for a Bluetooth adapter. To modulate and demodulate the digital signal, Bluetooth uses a transmitter, a receiver, and control chips that resemble modems. The rising demand for hardware in Bluetooth 5.0 drives the revenue growth of this segment.

The device network segment is expected to register a steady revenue growth rate over the forecast period due to the growing adoption of Bluetooth networking solutions in many devices. It is appropriate for monitoring, control, and automation systems in many devices that must communicate reliably and securely with one another. Bluetooth mesh networking has been improved for large-scale device networks that automate entire buildings.

Market in North America accounted for the largest revenue share in the global Bluetooth 5.0 market in 2021 because of the increasing development of IoT and the increasing use of wearable devices in countries throughout the region, particularly in the United States and Canada. The region is known for its fast adoption of new innovative technologies such as the Internet of Things (IoT), wearable technology, smart cities, smart agriculture, connected cars, and many more. North America is expected to have 5.4 billion IoT connections by 2025.

Competitive Landscape:

The latest study provides an insightful analysis of the broad competitive landscape of the global Bluetooth 5.0 market, emphasizing the key market rivals and their company profiles. A wide array of strategic initiatives, such as new business deals, mergers & acquisitions, collaborations, joint ventures, technological upgradation, and recent product launches, undertaken by these companies has been discussed in the report. The report analyzes various elements of the market’s competitive scenario, such as the regulatory standards and policies implemented across the industry over recent years. Our team of experts has leveraged several powerful analytical tools, such as Porter’s Five Forces analysis and SWOT analysis, to deliver a comprehensive overview of the global Bluetooth 5.0 market and pinpoint the fundamental growth trends.

Key Companies Profiled in the Report are:

Nordic Semiconductor, Texas Instruments, Silicon Labs, Microchip Technology Inc., NXP Semiconductors, STMicroelectronics, Infineon Technologies AG, Qualcomm Technologies, Inc., Renesas Electronics Corporation, Espressif Systems, Semiconductor Components Industries, LLC, and Atmosic Technologies

Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/bluetooth-5-market

Regional Segmentation:

North America

Latin America

Europe

Middle East & Africa

Asia Pacific

Emergen Research has segmented the global Bluetooth 5.0 market on the basis of component, application, end-use, and region:

Component Outlook (Revenue, USD Billion; 2019-2030)
Hardware

Software

Service

Application Outlook (Revenue, USD Billion; 2019-2030)
Location Services

Device Networks

Data Transfer

Audio Streaming

End-Use Outlook (Revenue, USD Billion; 2019-2030)
Automotive

Electronics

Retail and Logistics

Healthcare

Others

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Key Benefits For Stakeholders:

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The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.

Research Report on the Bluetooth 5.0 Market Addresses the Following Key Questions:

Who are the dominant players of the Bluetooth 5.0 market?

Which regional market is anticipated to have a high growth rate over the projected period?

What consumer trends and demands are expected to influence the operations of the market players in the Bluetooth 5.0 market?

What are the key growth drivers and restraining factors of the Bluetooth 5.0 market?

What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?

What is the overall impact of the COVID-19 pandemic on the Bluetooth 5.0 market and its key segments?

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Bluetooth 5.0 Market Size, Landscape, Industry Analysis, Business Outlook, Current and Future Growth to 2030 3