Bluetooth SIG releases "2024 Bluetooth Market Update"

Beijing, May 7, 2024 - The Bluetooth Special Interest Group (SIG), the industry association responsible for regulating Bluetooth technology, released its annual report "Bluetooth Market Update 2024". The report introduces the latest application trends of Bluetooth technology in various industries and markets, and how it can bring rich connections to people's daily lives through various applications.

Total annual shipments of Bluetooth devices will reach 7.5 billion units in 2028

After the pandemic, the long-term forecast for Bluetooth devices is a return to strong growth. By 2028, annual shipments of Bluetooth devices are expected to reach 7.5 billion units, with a five-year compound annual growth rate (CAGR) of 8%. In the past five years, most Bluetooth devices have adopted dual-mode, supporting both classic Bluetooth and low-power Bluetooth, and audio devices have also moved towards dual-mode. With the growing demand for connected consumer electronics and the popularity of low-power Bluetooth, coupled with the continued growth of peripheral devices, shipments of low-power Bluetooth single-mode devices will double in the next five years, on par with dual-mode devices. It is expected that by 2028, 97% of Bluetooth devices will support low-power Bluetooth.

Auracast™ Broadcast Audio Creates a New Audio Experience

Building on nearly 25 years of innovation, low energy audio has enhanced the performance of Bluetooth audio, added support for hearing aids, and the innovative use case of Auracast™ broadcast audio has aroused high expectations. Major smartphone manufacturers such as Samsung and Xiaomi have updated their operating systems to support Auracast™ broadcast audio. Analysts predict that in the next five years, the number of devices that support Auracast™ and the adoption of this technology in public places will grow significantly, creating new scalability options for assistive listening solutions. The growth of Auracast™ applications will directly affect the adoption rate of low power audio devices.

Channel Sounding makes ultra-high-precision Bluetooth location services a reality

Bluetooth technology is widely used as a device location technology due to the growing market demand for high-precision positioning services. With current Bluetooth devices, Bluetooth technology has flexibility and convenience that other positioning radios do not have. The upcoming "Channel Sounding" specification is expected to achieve extremely accurate ranging, bringing more advantages to current real-time location systems (RTLS), including higher accuracy and security. It is expected that the average annual growth rate of Bluetooth location service devices will be 22% in the next five years, and shipments will reach 563 million units by 2028.

The rise of the environmental Internet of Things: new devices that harness ambient energy

Ambient IoT is a new type of IoT device that is able to use radio waves, light, motion, heat and other ambient energy sources as the primary power source. With no need for batteries and maintenance, Ambient IoT enables previously unattainable asset tracking use cases and improves supply chain visibility in major industries such as pharmaceuticals and agriculture.

Although Ambient IoT is not currently included in market forecasts, it represents a new trend for Bluetooth technology. For more details, please click here to download the market research report "Ambient IoT: A New Type of Bluetooth IoT Device".

Various standards drive market expansion: ESL and NLC

Bluetooth device network solutions can connect tens of thousands of devices in a network, forming device networks such as smart homes, electronic shelf labels (ESL), networked lighting control (NLC), and status monitoring systems, achieving many advantages such as automation and energy saving. In 2023, Bluetooth released the ESL standard specification and the NLC standard specification to lay the foundation for interoperability and eliminate application barriers. It is estimated that by 2028, the annual shipment of Bluetooth device network devices will reach 1.73 billion units, with an annual growth rate of 20%.

“In the Bluetooth Market Update 2024, we provide updated forecasts, including the adoption of low energy audio and Auracast™ broadcast audio, and the transition from Bluetooth Classic audio to low energy audio,” said Mark Powell, CEO of the Bluetooth SIG . “In addition, the report highlights the development of new and larger markets such as ESL and Ambient IoT. We are excited to see how these markets develop.”

Download the full report: 2024 Bluetooth® Market Update | Bluetooth® Technology Website.pdf