Bluetooth Low Energy Market Set to Triple by 2023, Reaching 1.6 Billion Device Shipments
Bluetooth Low Energy (BLE) devices are forecasted to reach over 1.6 billion annual shipments by 2023 according to ABI Research, a market-foresight advisory firm providing strategic guidance on the most compelling transformative technologies. Increasing opportunities in smart home, beacons and asset tracking, emerging IoT applications, alongside growth in existing key markets and the emergence of audio over BLE will enable the technology to achieve a CAGR of 27% between 2018 and 2023, tripling in size.
“Bluetooth Low Energy has witnessed tremendous growth since its introduction in 2010 because continued technical enhancements have ensured that the technology can take advantage of opportunities across an ever-increasing number of verticals and use cases,” said Andrew Zignani, Senior Analyst at ABI Research. “BLE’s ubiquitous support in mobile devices, combined with its ability to support mesh networking, beacon functionality, and most recently, centimeter level location accuracy with the introduction of Bluetooth 5.1 and radio direction finding (RDF), is enabling BLE to be increasingly leveraged within smart consumer devices, larger scale home and commercial building automation environments, and RTLS deployments with more stringent accuracy requirements,” says Zignani.
In addition to these recent enhancements, from 2020 onward, Bluetooth is anticipated to enable high-quality audio streaming over BLE, providing a boost for the existing headset market and the emerging True Wireless audio device market. “Late last year and more recently during CES 2019, Dialog Semiconductor demonstrated an audio over BLE proof of concept utilizing their SmartBond SoCs. From 2020, we expect the Bluetooth audio market to take advantage of upcoming enhancements to better support truly cable-free earbud experiences while enhancing the battery life and user experience, though it may take some time for the standardization process to translate to wider mobile and ecosystem support,” Zignani explained. Meanwhile, Bluetooth Low Energy chipset providers continue to innovate to provide further improvements in power consumption, further extending battery life and enabling support for battery-free devices via energy harvesting.
“Together, Bluetooth’s existing and upcoming enhancements will provide an enormous opportunity for the likes of Nordic Semiconductor, Dialog Semiconductor, Silicon Labs, Texas Instruments, Microchip, Cypress, STMicroelectronics, Atmosic, NXP, CEVA, and Imagination, among several other IC and IP providers who are heavily invested in the Bluetooth and BLE ecosystem,” Zignani concluded.
These findings are from ABI Research’s Wireless Connectivity Technology Segmentation & Addressable Markets market data report. This report is part of the company’s Wi-Fi, Bluetooth and Wireless Connectivity research service, which includes research, data, and Executive Foresights. Market Data spreadsheets are composed of deep data, market share analysis, and highly segmented, service-specific forecasts to provide detailed insight where opportunities lie.
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