Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Bluetooth 5.0 Market size is expected to reach $7.6 billion by 2028, rising at a market growth of 11.2% CAGR during the forecast period.
The Software market is exhibiting the highest CAGR of 11.4% during (2022 - 2028). It is because the HCI (Host Controller Interface) interface is used between the host device (such as a laptop or phone) and the Bluetooth device to increase the compatibility of Bluetooth devices. Several high-level protocols interact with the baseband controller via the L2CAP, including the SDP (the protocol for finding Bluetooth devices within the communication range, as well as detecting their function), and the TCS (The Logical Link Control and Adaptation Protocol) for telephony.
The Audio Streaming market shows high market share in the Global Bluetooth 5.0 Market by Application in 2021; thereby, achieving a market value of $2.7 billion by 2028. Bluetooth is a wireless network technology that enables devices to speak with one another using a common set of protocols and short-range radio frequencies. The Personal Area Network, or PAN, formed by Bluetooth-enabled devices is referred to as such.
The Retail & Logistics market has shown the high growth rate of 9.3 % during the forecast period. By enabling tailored advertising and marketing, technologies considerably benefit retailers and landlords, notably shopping centers and retail parks. The automatic transmission of customized warnings to the customers' mobile phones is made possible by Bluetooth technology, and Wi-Fi assists in locating customers as they move about the mall.
The North America market dominated the Global Bluetooth 5.0 Market by Region in 2021; thereby, achieving a market value of $2.8 billion by 2028. The Europe market would showcase a CAGR of 10.8% during (2022 - 2028). Additionally, The Asia Pacific market is experiencing a CAGR of 11.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/bluetooth-5-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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