LONDON--(BUSINESS WIRE)--Technavio, a tech-focused market research firm, has published a new report on the archery equipment market in the US, which is expected to grow at a CAGR of almost 10% from 2015-2019.
The bows and bow accessories segment holds the highest share in the archery equipment market in the US, driven by the presence of a diverse product portfolio.
Revenue generated by this segment has increased with rising participation in target archery and bow hunting since 2012. The media and entertainment industry—notably the release of films like Brave, the Hunger Games and the Avengers—has played a crucial role in enhancing the popularity of this sport.
“These factors have increased marketing activity, leading to a rise in revenue generated by archery equipment,” says Faisal Ghaus, Vice President of Technavio.
The new market research report by Technavio also indicates that growing awareness of health and fitness has increased the adoption of sports as an integral part of everyday in the US. The emphasis on outdoor and adventure sports like archery, trekking, hiking, mountain racing and ice-skating has increased, which has boosted sales of outdoor sports equipment considerably.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Fiber Optic test Equipment Market in China 2015-2019
- Global Industrial Water Treatment Equipment Market 2015-2019
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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