Bluetooth in Automotive Market Trends

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

Bluetooth In Automotive Market: Key Insights

Base Year	2023
Forecast Year	2024-2036
CAGR	5.4%
Base Year Market Size (2023)	USD 18.97 Billion
Forecast Year Market Size (2036)	USD 37.59 Billion

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of bluetooth in automotive is estimated at USD 19.89 Billion.

The bluetooth in automotive market size was over USD 18.97 Billion in 2023 and is projected to cross USD 37.59 Billion by the end of 2036, witnessing more than 5.4% CAGR during the forecast period i.e., between 2024-2036. Rising penetration of Bluetooth in cars, as well as the growing trend of keyless entry along with a surge in 5G infrastructure in automotive applications, are some of the major factors anticipated to drive the growth of the market.

Asia Pacific is anticipated to hold largest industry share by 2036, backed by 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.

Panasonic Corporation, Knowit AB, NXP Semiconductors N.V., Apple Inc., Bose Corporation, LG Electronics, Toshiba Corporation, Texas Instruments Incorporated, Qualcomm Technologies, Inc.

Bluetooth in Automotive Market Trends