The Bluetooth Special Interest Group (SIG) announced that a new Bluetooth version will be released by early next year.

The new standard - called Bluetooth 5 - promises significantly increased range, speed, and broadcast messaging capacity.

According to the Bluetooth SIG, the new release is aimed at delivering robust, reliable Internet of Things connections for smart home, building and outdoor applications.

The new standard will quadruple range to more than 400 metres and double the current 1Mbps speed currently possible with the existing Bluetooth Low Energy standard.

The Bluetooth SIG also expects the capacity of connectionless data broadcasts to increase by 800 percent. This is forecast to accelerate the growth of beacon and location-relevant information and navigation systems, especially for indoor applications.

Mark Powell, executive director of the Bluetooth SIG said in a statement: “Bluetooth 5 will transform the way people experience the Internet of Things by making it something that happens simply and seamlessly around them.”

“Bluetooth 5 will make beacons, location awareness and other connectionless services an even more relevant part of an effortless and seamless IoT experience.”