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Bluetooth 5.0 Market to Hit $11.7 Bn, Globally, by 2031 at 10.9% CAGR: Allied Market ResearchRise in demand for audio devices, investments in sensing technology, and growing dependency on dual audio streaming drive the growth of the global Bluetooth 5.0 market. PORTLAND, Ore., Nov. 23, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Bluetooth 5.0 Market by Offering (Hardware, Software, Services), by Organization Size (SMEs, Large Enterprises), by Application (Audio Streaming, Data Transfer, Location Services, Device Networks): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global Bluetooth 5.0 market was accounted for $4.2 billion in 2021, and is expected to reach $11.7 billion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.  Drivers, restraints, and opportunities Rise in demand for audio devices, investments in sensing technology, and growing dependency on dual audio streaming drive the growth of the global Bluetooth 5.0 market. On the contrary, reduction in battery life of portable, digital devices and the unavailability of proper data pack transmitting hamper the market growth. However, rise in adoption of quality Bluetooth technology services and development in wireless technology would open new opportunities in the future. Download Free Sample Report (182 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/32183 Covid-19 scenario:
The hardware segment held the lion's share By offering, the hardware segment held the largest share in 2021, accounting for nearly two-fifths of the global Bluetooth 5.0 market. However, the services segment is expected to register the highest CAGR of 11.3% during the forecast period. Bluetooth 5.0 services supervise constructive effective secure, reliable, and trustworthy systems as well as, reducing hardware and manual data collection costs. Therefore, Bluetooth 5.0 services aid the operational efficiency of various end-users. The SMEs segment to manifest the highest CAGR through 2031 By organization size, the SMEs segment would showcase the highest CAGR of 13.0% from 2022 to 2031. SMEs typically have constrained cash resources, internal IT skills, and resources. Every small and medium-sizd firm (SME) is primarily concerned with making a profit and staying in operation for the long term. However, the large enterprises segment held the largest share in 2021, contributing to more than three-fourths of the global Bluetooth 5.0 market. These businesses are looking at novel approaches to successfully improve their processes. They make investments to deploy Bluetooth 5.0, which allows companies to wireless communicate, automate and navigate in short-range and long-ranges. The audio streaming segment to showcase the 12.4% by 2031 By application, the audio streaming segment is projected to manifest the highest 12.4% during the forecast period. However, the data transfer segment held the largest share in 2021, accounting for nearly two-fifths of the global Bluetooth 5.0 market. This is because Bluetooth 5.0 revolutionized audio and has forever changed the way humans consume media and experience the world. Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/32183 Asia-Pacific to dominate the market By region, the global Bluetooth 5.0 market across Asia-Pacific held the largest share in 2021, accounting for nearly two-fifths of the market. In addition, the region is expected to register the highest CAGR of 11.8% during the forecast period. China and India are the emerging markets as enterprises in this region are advancing technologies at a faster rate, which drives the market growth. Major market players
Buy this Report at: https://www.alliedmarketresearch.com/checkout-final/e764c84075504eb2353db6dc2d4c6c58 Trending Reports in ICT & Media Industry (Book Now with 10% Discount): Digital Media Production Software Market Expected to Reach $36.3 Billion by 2031 Strategy Consulting Market Expected to Reach $111.4 Billion by 2031 Lighting-as-a-Service Market Expected to Reach $11.8 Billion by 2031 Marketing Analytics Software Market Expected to Reach $14.3 Billion by 2031 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: David Correa Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
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