Bluetooth Emerging Market
Forecasts Predict Continued
Growth Through 2024

For more than 20 years, Bluetooth^® technology has helped create new markets, shape innovation, and redefine wireless connectivity. As the concept of the IoT became more common, Bluetooth technology quickly found its place as a cornerstone solution for emerging IoT solution areas.

According to the 2020 Bluetooth Market Update, total annual Bluetooth device shipments will exceed six billion by 2024. ABI Research reports that emerging market device shipments – such as smart building, smart industry, smart home, and smart city – will account for 2.8 billion of those 2024 annual device shipments.

New trends showcased in the report, which is supported by forecasts from ABI Research and insights from several other analyst firms, highlight the compelling growth of Bluetooth technology in commercial and industrial spaces and show that we can expect to see this trend continue for the foreseeable future.

Smart Building

The growing demand for large-scale, connected lighting networks and precise, indoor location services has positioned Bluetooth^® wireless connectivity as a mainstay smart building technology. Bluetooth Mesh product qualifications have doubled every six months, and more Bluetooth enabled products are addressing the diverse use cases for the smart building market. According to the 2020 Bluetooth Market Update:

• Powering new location services in smart buildings that help create operational efficiencies and improve the occupant experience, analysts expect to see 6x growth in Bluetooth smart building location services devices by 2024
• It is forecasted that the growing demand for large-scale, wireless lighting solutions will result in 1.8 billion connected lighting devices by 2028
• With 66 million Bluetooth asset tracking tags shipping in 2020, facilities are geofencing harsh environments and critical assets to help ensure equipment and personnel stay out of harm’s way

Smart Industry

An integral part of the industrial IoT expansion, Bluetooth^® technology helps manufacturers achieve new levels of productivity and safety. The improved location accuracy and robustness of the technology help drive down implementation and maintenance costs, enhance operational efficiency, and support commercial and industrial solutions that strive to increase workplace safety and security in environments like chemical plants. The 2020 Bluetooth Market Update highlights that:

• Bluetooth asset tracking tags are helping more commercial and industrial environments track and manage critical assets to improve the operational efficiency, leading to 4.2x growth in annual shipment of Bluetooth asset tracking tags by 2024
• Bluetooth technology plays a key role in workplace safety and security and that 60% of those surveyed are currently testing or deploying workplace management solutions
• 4x range improvement helps drive reliable connections in harsh environments and can support predictive maintenance across a variety of complex industrial and commercial spaces

Smart Home

Whether connecting TVs to soundbars or PCs to keyboards, Bluetooth^® technology has been at the heart of the connected home for years. The dependability, security, and interoperability of Bluetooth solutions are helping the market realize the full potential of home automation. Thanks to rapid regional adoption of voice-control platforms, home automation through voice-controlled services is driving the future of smart home market growth. According to the 2020 Bluetooth Market Update:

• Lighting control and home automation solutions account for 45% of smart home device shipments and will drive significant growth over the five-year forecast period
• Anticipated growth in voice control front-end devices is playing a central role in advancing the smart home market, reaching 250 million annual shipments in 2024
• Connected home devices like OEM remote controls, speakers, and TVs will continue to drive smart home device shipments, reaching one billion annual shipments of Bluetooth connected home devices by 2024

Thanks to the ongoing efforts of Bluetooth SIG working groups and committees, Bluetooth technology continues to be the global wireless standard powering the IoT. The hard work and collaboration between our member companies are what drives the continuous innovation of the technology.

For a complete look at all updated trends for forecasts across all traditional and emerging Bluetooth solution areas, download the 2020 Bluetooth Market Update.