North America Bluetooth 5.0 Market Size, Share & Industry Trends Analysis Report By Component, By Application (Audio Streaming, Data Transfer, Location Services and Device Networks), By End User, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Bluetooth 5.0 Market would witness market growth of 10.7% CAGR during the forecast period (2022-2028).
The most recent Bluetooth wireless communication protocol is Bluetooth 5.0. It is frequently used for wireless keyboards, speakers, mice, trackers, headphones, and other audio gear, as well as wireless keyboards, mice, and game controllers. Bluetooth is also utilized for Internet of Things (IoT) and smart home device connectivity. A new Bluetooth standard brings about several benefits, but only when utilized with compatible peripherals. In other words, if all of the user's Bluetooth devices were made for an earlier version of Bluetooth, upgrading to a phone with Bluetooth 5.0 won't provide any immediate benefits.
However, since Bluetooth is fully compatible, a Bluetooth 5.0 phone can still be used with Bluetooth 4.2 and earlier devices. Additionally, due to the user's Bluetooth 5.0 phone, new Bluetooth 5.0 accessories will perform better when purchased. It's important to note that all Bluetooth advancements are being made to the Bluetooth Low Energy protocol, which was first introduced with Bluetooth 4.0, rather than the older, more powerful Bluetooth radio.
The purpose of Bluetooth Low Energy is to make Bluetooth accessories use less energy. Although it had several severe limitations, it was first utilized for wearables, Bluetooth trackers, beacons, and other low-power devices.
New mobile statistics from ComScore, which were released in April, showed that smartphones are still on the rise and are now the most popular mobile platform worldwide, with approximately 77% penetration in the US. Despite giving installation or unit commanders the final says on the new policy, Acting Secretary of the Army Patrick J. Murphy issued a directive allowing Soldiers to use a range of gadgets and earpieces to listen to music while engaging in personal physical activity inside of gyms. The growing need for headphones and increases adoption of the mobiles phones in the military propels the growth of the Bluetooth market.
The US market dominated the North America Bluetooth 5.0 Market by Country in 2021; thereby, achieving a market value of $2,000.8 million by 2028. The Canada market is experiencing a CAGR of 13.2% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 12.2% during (2022 - 2028).
Based on Component, the market is segmented into Hardware, Software and Services. Based on Application, the market is segmented into Audio Streaming, Data Transfer, Location Services and Device Networks. Based on End User, the market is segmented into Retail & Logistics, Smart Home/Building, Consumer Electronics, Automotive, Wearables, Healthcare, Industrial Measurements & Diagnostics and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Bluetooth 5.0 Market is Estimated to reach $7.6 Billion by 2028, at a CAGR of 11.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Qualcomm Technologies, Inc., Nordic Semiconductor ASA, MediaTek, Inc., STMicroelectronics N.V., NXP Semiconductors N.V., Microchip Technology, Inc., ON Semiconductor Corporation, Texas Instruments, Inc., Synopsys, Inc. and Qorvo, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Audio Streaming
- Data Transfer
- Location Services
- Device Networks
By End User
- Retail & Logistics
- Smart Home/Building
- Consumer Electronics
- Industrial Measurements & Diagnostics
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Qualcomm Technologies, Inc.
- Nordic Semiconductor ASA
- MediaTek, Inc.
- STMicroelectronics N.V.
- NXP Semiconductors N.V.
- Microchip Technology, Inc.
- ON Semiconductor Corporation
- Texas Instruments, Inc.
- Synopsys, Inc.
- Qorvo, Inc.
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