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AUTOMOTIVE & TRANSPORTATION

Bluetooth in Automotive Market Analysis by Type (Communication, Telematics, Infotainment); by Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles); by Application (Phone Connectivity, Hands-Free Calling, Security, Mobile-In-Car Entertainment, Communication for Monitoring and Control Operations); by Distribution Channel {Original Equipment Manufacturer (OEM), and Aftermarket} – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Sensata Technologies, Inc. - developed new Bluetooth low-energy tire pressure monitoring systems for automotive OEMs.
  • Panasonic Corporation - presented its new friction-free connectivity solution, a more secure and convenient way to automatically pair your mobile device to your vehicle.

Global Bluetooth in Automotive Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

 ~ USD 18 Billion

Forecast Year Market Size (2033)

~ USD 30 Billion

The global Bluetooth in automotive market is estimated to garner a revenue of ~USD 30 billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 18 billion in the year 2022. The growth of the market can primarily be attributed to the growing use of Bluetooth in automobiles worldwide. According to the data, ~75% of all cars will use Bluetooth technology by 2024.

Bluetooth-in-Automotive-Market-Analysis

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Bluetooth in automotive helps to pair up the mobile phone and use certain functions without having the need to plug in the phone using a cable. The key reason to do so is that you can make phone calls hands-free, using the car's speakers. Bluetooth technology is making it easier for people to get things done in a safe and efficient way while driving. It helps the diver to manage calls, music, data, and texts all with the sound of the voice through programs. With the rising use of phones, while driving as well as incidences of car crashes, the demand for Bluetooth in automotive is on the rise amongst automobile manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global Bluetooth in automotive market during the forecast period. For instance, it was found that every year more than 1.5 million vehicle crashes are the result of using a phone while driving.

Global Bluetooth in Automotive Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Trend of Keyless Entry – with the help of Bluetooth technology. The Bluetooth technology in a smartphone enables you to use this technology as a key fob to access your car by recognizing the owner of the car as they approach to unlock the doors. The rising demand for key fobs and other accessories is expected to increase the use of Bluetooth in automotive market in the projected period. According to the 2020 statistics, by 2024, there will be over 13 million shipments of Bluetooth-enabled key fobs and accessories globally.
  • Rising Share of 5G Infrastructure – for automotive applications which are forecasted to reach ~21% by 2025.
  • Growing Number of Autonomous Cars – which was found to be more than 30 million in 2019 worldwide, and is expected to exceed 52 million by 2024.
  • Upsurge in the Use of Vehicle Tracking Devices for instance, in 2018, it was more than 18,900 thousand units.

Challenges

  • Poor Security of Data and Devices Using Bluetooth
  • Concern about Poor Backup
  • High Cost

The global Bluetooth in automotive market is segmented and analyzed for demand and supply by vehicle type into passenger cars, light commercial vehicles, and heavy commercial vehicles. Amongst these segments, the passenger cars segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand for passenger cars along with the surge in the sale of cars worldwide. For instance, global car sales reached to about 66 million in 2021.

Global Bluetooth in Automotive Market Regional Synopsis

Regionally, the global Bluetooth in automotive market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of a strong mobility network in the region, a growing number of smart vehicles, as well as the rising awareness amongst the automobile users for Bluetooth technology in vehicles. For instance, as per 2022 data, more than 55% of all smart vehicles of different levels of automation sold so far across the world are in China.

Bluetooth-in-Automotive-Market-Growth

The global Bluetooth in automotive market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global Bluetooth in automotive market includes the following segments:

By Type

  • Communication
  • Telematics
  • Infotainment

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles

By Application

  • Phone Connectivity
  • Hands-Free Calling
  • Security
  • Mobile-In-Car Entertainment
  • Communication for Monitoring and Control Operations

By Distribution Channel

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

Top Featured Companies Dominating the Global Bluetooth in Automotive Market

  • Sensata Technologies, Inc.

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Panasonic Corporation
  • Knowit AB
  • NXP Semiconductors N.V.
  • Apple Inc.
  • Bose Corporation
  • LG Electronics
  • Toshiba Corporation
  • Texas Instruments Incorporated
  • Qualcomm Technologies, Inc.

 

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