Bluetooth In Automotive Sector: Growth Drivers and Challenges
Growth Drivers
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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.
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Rising Share of 5G Infrastructure - for automotive applications which are forecasted to reach 21% by 2025.
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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.
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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 |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.5% |
|
Base Year Market Size (2024) |
USD 20.01 billion |
|
Forecast Year Market Size (2037) |
USD 40.14 billion |
|
Regional Scope |
|
