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The Bluetooth Low Energy (BLE) Module Market size is projected to increase by USD 39.87 billion, at a CAGR of 18.02% between 2023 and 2028. The growth rate of the market depends on several factors, including the increasing adoption of BLE modules in healthcare applications, the augmented use of BLE in the retail sector, and the growing demand for wearables. Bluetooth low energy (BLE) is a power-efficient version of the classic Bluetooth wireless communication standard. These modules typically consist of a BLE chipset, an antenna, and supporting components, all encapsulated in a small form factor. BLE modules are used for various applications, including computing devices, smart wearables, and smart home appliances.
The report includes a comprehensive outlook on the Bluetooth Low Energy Module Market, offering forecasts for the industry segmented by Application, which comprises computing devices, smart wearables, smart home appliances, and beacons and others. Additionally, it categorizes Type into single mode, dual mode, and others, and covers Regions, including APAC, North America, Europe, Middle East and Africa, and South America. The report provides market size, historical data spanning from 2018 to 2022, also includes an in-depth analysis of drivers, market trends and analysis, and challenges, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Growing demand for wearables is the key factor driving market growth. BLE modules are used in wearables owing to their properties, such as low energy consumption and the small size of the chip (module). The chip is much smaller than traditional Bluetooth chipsets. In addition, BLE reduces a device's cost, size, and weight. Therefore, it is unlikely to find a wearable device without BLE. Smartwatches, energy-efficient fitness trackers, smart clothes, smart medical equipment, and smart jewelry are some of the devices that are designed to function for as long as possible on a charge.
Additionally, the increased health awareness among people is reflected in the rapid growth in the demand for hygienic and nutritious food, gym memberships, diet programs, and the use of mobile health applications. Industrial wearables, such as enterprise versions of smart glasses, are equipped with BLE. The increased use of wearables among consumers and industries is expected to have a positive impact on the market during the forecast period.
Growing adoption of Bluetooth 5.0 and beyond is the primary trend shaping market growth. One of the notable features of Bluetooth 5.0 is the extended range. The increased range allows BLE devices to communicate over longer distances, making it suitable for applications in larger spaces, outdoor environments, and industrial settings. This enhancement expands the scope of use for BLE modules. Bluetooth 5.0 introduced enhanced features for indoor positioning and location-based services. The improved accuracy in determining the location of BLE-enabled devices is valuable in applications such as asset tracking, navigation in indoor spaces, and proximity-based marketing.
Furthermore, Bluetooth 5.0 introduced support for mesh networking, allowing devices to form interconnected networks. This is particularly relevant in applications where devices need to communicate with each other over an extended area. While Bluetooth Low Energy has always been designed for low power consumption, Bluetooth 5.0 and subsequent versions have introduced optimizations to further improve energy efficiency. Thus, the growing adoption of Bluetooth 5.0 and beyond will boost the growth of the market during the forecast period.
Increasing privacy concerns regarding BLE modules is a challenge that affects market growth. A factor that would likely hinder the adoption of BLE technology is the increasing privacy concerns related to this technology. BLE makes it possible to add short-range wireless capabilities to devices. The Bluetooth SIG has created BLE as personal wireless technology. It is rapidly finding applications in personal devices, such as mobile devices, wearables, and industrial devices. The highest levels of security standards are required to connect the physical world with the digital sphere.
Moreover, BLE modules have four primary roles, namely broadcaster, observer, peripheral, and center. BLE is a powerful technology that is increasingly being used for a wide range of applications. The ability of BLE modules to collect large amounts of data and record anyone or anything is perceived as a subtle way of violating individual privacy. Thus, the market for BLE modules is expected to face challenges in terms of wide-scale adoption during the forecast period.
The market share growth by the computing devices segment will be significant during the forecast period. Computing devices, specifically those in the mobile and IoT space, benefit from BLE ability to provide wireless connectivity without significantly impacting battery life. BLE short-range capabilities are well-suited for applications where devices need to communicate in close proximity. Moreover, BLE is supported by most modern computing devices, including smartphones, tablets, and laptops. The widespread support ensures that BLE-enabled devices can communicate seamlessly with each other, contributing to the demand for BLE modules.
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The computing devices segment showed a gradual increase in the market share of USD 9.09 billion in 2018. Additionally, the demand for efficient data collection, monitoring, and control in these environments drives the adoption of BLE technology. Furthermore, BLE modules are generally cost-effective, making them attractive for various applications. The affordability of BLE technology contributes to the widespread adoption of computing devices. Thus, factors such as lower power consumption, short-range connectivity, and ease of integration will boost the growth of the computing devices segment and the bluetooth low energy module market during the forecast period.
Single-mode BLE modules are designed for low power consumption, making them ideal for battery-operated devices. This feature extends the battery life of devices, a vital consideration for applications such as wearables, healthcare devices, and IoT sensors. Single-mode BLE modules are designed for simplicity and ease of integration. Further, some bluetooth low energy (BLE) module market players like Laird Connectivity, offer single-mode BLE modules. They are used for various applications, including medical devices, barcode scanners, security devices, and mobile computers. Thus, these factors will drive the growth of the single-mode BLE modules segment of the BLE module market during the forecast period.
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APAC is estimated to contribute 53% to the growth of the global market during the forecast period.
Technavio's analysts have provided extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The BLE module market is set to grow in APAC due to rapid industrialization and the active adoption of IoT technologies, particularly in India. BLE modules play a pivotal role in smart devices, industrial automation, and IoT applications, meeting the growing demand for smart home devices, consumer electronics, and healthcare applications. Additionally, the automotive industry in APAC integrates BLE modules for keyless entry and in-vehicle connectivity, while the thriving e-commerce sector drives demand for efficient logistics and supply chain solutions using BLE technology. Thus, such factors are expected to drive the growth of the regional bluetooth low energy module market in APAC during the forecast period.
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
BLE Module Market Scope |
|
Report Coverage |
Details |
Page number |
177 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 18.02% |
Market Growth 2024-2028 |
USD 39.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.12 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 53% |
Key countries |
US, China, Japan, South Korea, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adafruit Industries LLC, Amphenol Communications Solutions, Avnet Inc., Berkshire Hathaway Inc., FANSTEL Corp., Infineon Technologies AG, InsightSIP, Laird Connectivity, Microchip Technology Inc., Murata Manufacturing Co. Ltd., Nordic Semiconductor ASA, NXP Semiconductors NV, Panasonic Holdings Corp., Qualcomm Inc., Renesas Electronics Corp., Silicon Laboratories Inc., Siricom Technology, STMicroelectronics International N.V., Texas Instruments Inc., and Hyper Tech |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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