Bluetooth 5.0 Market Value to Exhibit Healthy Growth Rate of 10.9% to 2031

As per the report, the global Bluetooth 5.0 market was accounted for $4.2 billion in 2021, and is expected to reach $11.7 billion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.

Rise in demand for audio devices, investments in sensing technology, and growing dependency on dual audio streaming drive the growth of the global Bluetooth 5.0 market. On the contrary, reduction in battery life of portable, digital devices and the unavailability of proper data pack transmitting hamper the market growth. However, rise in adoption of quality Bluetooth technology services and development in wireless technology would open new opportunities in the future.

Download Free Sample Report at: https://www.alliedmarketresearch.com/request-sample/32183

The hardware segment held the lion’s share

By offering, the hardware segment held the largest share in 2021, accounting for nearly two-fifths of the global Bluetooth 5.0 market. However, the services segment is expected to register the highest CAGR of 11.3% during the forecast period. Bluetooth 5.0 services supervise constructive effective secure, reliable, and trustworthy systems as well as, reducing hardware and manual data collection costs. Therefore, Bluetooth 5.0 services aid the operational efficiency of various end-users.

The SMEs segment to manifest the highest CAGR through 2031

By organization size, the SMEs segment would showcase the highest CAGR of 13.0% from 2022 to 2031. SMEs typically have constrained cash resources, internal IT skills, and resources. Every small and medium-sized firm (SME) is primarily concerned with making a profit and staying in operation for the long term. However, the large enterprises segment held the largest share in 2021, contributing to more than three-fourths of the global Bluetooth 5.0 market. These businesses are looking at novel approaches to successfully improve their processes. They make investments to deploy Bluetooth 5.0, which allows companies to wireless communicate, automate and navigate in short-range and long-ranges.

For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32183

The audio streaming segment to showcase the 12.4% by 2031

By application, the audio streaming segment is projected to manifest the highest 12.4% during the forecast period. However, the data transfer segment held the largest share in 2021, accounting for nearly two-fifths of the global Bluetooth 5.0 market. This is because Bluetooth 5.0 revolutionized audio and has forever changed the way humans consume media and experience the world.

Asia-Pacific to dominate the market

By region, the global Bluetooth 5.0 market across Asia-Pacific held the largest share in 2021, accounting for nearly two-fifths of the market. In addition, the region is expected to register the highest CAGR of 11.8% during the forecast period. China and India are the emerging markets as enterprises in this region are advancing technologies at a faster rate, which drives the market growth.

Leading Market Players –

  • Broadcom Inc.
  • Infineon Technologies AG
  • Microchip Technology Inc.
  • Nordic Semiconductor
  • NXP Semiconductors
  • Qualcomm Technologies, Inc.
  • Realtek Semiconductor Corp.
  • Silicon Laboratories, Inc.
  • STMicroelectronics
  • Texas Instruments Incorporated

If you have any special requirements, please let us know: https://www.alliedmarketresearch.com/request-for-customization/32183

Key Findings of the Study –

  • On the basis of offering, the hardware segment was the highest revenue contributor to the market, with $1,607.9 million in 2021.  However, the services segment for Bluetooth 5.0 Market Forecastis estimated to reach $4,173.9 million by 2031, at a significant CAGR of 11.3% during the forecast period.
  • On the basis of organization size, the large enterprise’s segment was the highest revenue contributor to the market, with $3,243.9 million in 2021.  The SMEs segment is estimated to reach $3,133.4 million by 2031, at a significant CAGR of 13.0% during the forecast period.
  • On the basis of application, the data transfer segment exhibits dominating shares in this market. However, device networks are expected to grow with impressive CAGR with respect to Bluetooth 5.0 Industry.

Buy This Research Report at: https://bit.ly/3AWqpah

Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients’ requirements is complemented with analyst support and customization requests.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Leave a comment

Your email address will not be published. Required fields are marked *