New Delhi: Riding on the back of low energy audio, hearables and location devices, shipments of Bluetooth devices are set to hit a new high in the next four years. According to the Bluetooth Special Interest Group (SIG), Bluetooth powers smartphones as well as wearables, smart home devices and headphones and for the first time, the annual shipment of Bluetooth devices is on track to exceed 7 billion in 2026.
This is despite the slump in the markets due to the global coronavirus pandemic. As per Bluetooth SIG, experts say a faster than predicted recovery is going to happen this year.
"With the support of a committed member community, Bluetooth technology has met growing wireless innovation demands for more than 20 years. While 2020 proved to be a turbulent year for many global markets, by 2021, Bluetooth markets began quickly bouncing back toward pre-pandemic levels. In fact, in 2022, analysts expect to see a faster recovery from the pandemic than initially predicted," Mark Powell, CEO at Bluetooth SIG, said in a statement.
Analysts anticipate that annual shipments of Bluetooth-enabled devices will see 1.5 times growth, a 9 per cent compound annual growth rate (CAGR), from 2021 to 2026.
"The forecasts in the 2022 Bluetooth Market Update reflect the tireless work of the many Bluetooth SIG members who are developing innovations that create a more connected world," Powell added.
Bluetooth LE single-mode device shipments are forecasted to more than triple over the next five years, driven by continued strong growth in peripheral devices. In addition, when you consider both single-mode LE and dual-mode Classic + LE devices, 95 per cent of all Bluetooth devices will include Bluetooth LE by 2026, a 25 per cent CAGR.
Since nearly all smartphones, tablets, and PCs support Bluetooth LE, the growth rate of Bluetooth technology in peripheral devices will continue to outpace platform device growth. Analysts forecast a 13 per cent CAGR from 2021 to 2026.