According to a research report ?Bluetooth 5.0 Market by Component (Hardware, Software, Services), Application (Audio Streaming, Data Transfer, Location Services), End User (Automotive, Wearables, Consumer Electronics, Retail and Logistics) and Region ? Global Forecast to 2027? published by MarketsandMarkets, the global Bluetooth 5.0 system market size is expected to grow from USD 4.1 billion in 2022 to USD 7.0 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. The enterprises are adopting Bluetooth 5.0 technology as it is twice as fast, four times the range and can transfer eight times as much data as Bluetooth 4.2 Low Energy.