In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Bluetooth bottle bass speakers are a type of portable expandable speakers which facilitates audio played by the user by using a source device, such as smartphones, tablets, or computers with the help of Bluetooth wireless connectivity. A Bluetooth connection performs the function of setting up a one-to-one link between the source device and the speaker, by which audio data is transmitted. These speakers are powered using an inbuilt rechargeable battery.
The primary goal of Bluetooth bottle bass speakers is to avoid woody sound unlike other speakers, and also provide a higher level of bass scale for optimum hearing experience. Bluetooth bottle bass speakers requires a pet bottle to be connected to the portable speaker at the junction point provided. The working principle behind the Bluetooth bottle bass speakers is that it utilizes the vacuum inside the empty bottle to enhance the bass levels of the low frequency sound waves produced by the speakers present inside the Bluetooth bottle bass speaker. The speakers can also be utilized without the pet bottle attachment. In such a scenario, the amount of bass levels generated by the speakers is comparatively low, and the speaker at that moment somewhat resembles other portable expandable speakers.
The market of Bluetooth bottle bass speakers market is likely to observe vibrant growth on the back of growing use of voice assistant feature for search by consumers, combined with the option of keeping the speakers without any problem of tripping on wires. Furthermore, factors such as option of portability and powerful and quality audio experience offered by these products is expected to boost the growth of the Bluetooth bottle bass speakers market.
The market is anticipated to record robust CAGR throughout the forecast period, i.e. 2020-2027. The Bluetooth bottle bass speakers market is segmented by distribution channel into online and offline store. The online store is further segmented into e-commerce platforms and web-store, out of which, e-commerce segment is anticipated to have largest market share on account of competitive pricing of expandable speakers provided by various e-tailers. Furthermore, competitive advantage on the information provided for expandable speakers in terms of their features, specifications and others, combined with attractive sale discounts is anticipated to fuel the growth of the segment.
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There is a growing trend amongst consumers around the globe for the utilization of wireless handheld devices. The Bluetooth bottle bass speakers have the functionality of wireless transmission of audio using Bluetooth connectivity, which provides greater control to the user for controlling the level of loudness of the audio being played, along with the other functions, such as play, pause and rewind among others.
For many consumers listening to music or any other audio stuff is not just limited to the output sound levels of the speaker, but also the level of pleasure it provides to the ears of the hearer. Bluetooth bottle bass speakers hereby utilizes the vacuum space of the bottle to emit quality bass levels in the sound frequencies, providing the user an optimum level of experience in listening to the audio. Furthermore, the level of satisfaction derived from the aesthetics of the speakers to the consumers, is also a prime concern for many users of expandable speakers around the globe.
Bluetooth bottle bass speakers are not just limited to the quality of audio emitted by the device. Varied utility of these devices, such as listening to music, or the radio, or by connecting it to laptop or computers for an exceptional movie experience for the user, all of these aspects are driving the demand for expandable speakers around the globe. Furthermore, these devices are usually hand-held devices and are also light weighed, which increases the portability of these devices, providing an extra edge from the overall superset of speakers.
Increasing disposable income around the globe amongst the growing population is driving the demand for increased adoption of devices that can be controlled with the help of smart devices, thereby promoting growth of the market. According to Organisation for Economic Co-operation and Development (OECD), the net annual growth rate of household disposable income in the United States for the year 2017 was 2.3%. Canada observed a growth rate of 3.6% whereas Costa Rica witnessed highest growth rate of 7.4%. All of these factors are anticipated to support the growth of the Bluetooth bottle bass speakers market during the forecast period.
There are some limitations associated with the usage of Bluetooth bottle expandable speakers as they are priced comparatively high and requires scheduled power recharge for higher rate of drainage of battery. Furthermore, issues experienced from signal dropping owing to solid barriers or wireless distance coverage, can negatively impact the listening experience. Also, the feature of Bluetooth bottle bass speakers states the utilization of a pet bottle at the bottom of the provided junction. Any unbalance in the stability of the bottle on account of the increased laden weight deployed by the speaker, will lead to frequent distractions of the user to properly place the whole setup, which can be a disturbing factor for the user. All of these factors are anticipated to act as a barrier to the growth of the Bluetooth bottle bass speakers market during the forecast period.
Our in-depth analysis of the Bluetooth bottle bass speakers market includes the following segments:
On the basis of regional analysis, the Bluetooth bottle bass speakers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is expected to have the largest market share on the back of higher disposable incomes of the population coupled with the demand for high quality products, prioritized on aesthetics. According to OECD, United States witnessed an all-time high disposable personal income during July 2019 by crossing USD 16,350 Billion.
Furthermore, the market of Asia-Pacific is expected to gain significant market share on the back of rising population with a desire to own such smart devices.
The Bluetooth bottle bass speakers market is further classified on the basis of region as follows: