LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global skydiving equipment market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global skydiving equipment market is growing at significant rate owing to the growth in the tourism industry, rising urbanization, evolving lifestyle of consumers, increased awareness of new products, growth in outdoor vacation trips, and rise in dual-household levels. The improved distribution and marketing initiatives through digital channels and a rise in the interest and participation in outdoor activities play a crucial role in the increased demand for adventure sports equipment including skydiving equipment.
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The top three emerging trends driving the global skydiving equipment market according to Technavio consumer and retail research analysts are:
- Advent of action wearable cameras in air sports
- Technological innovations: Improved product features
- Increasing importance of online reviews: A disruption in travel industry
Advent of action wearable cameras in air sports
“Skydiving is an adrenaline-inducing activity with many associated risks. These require great detailing for every step to ensure safety. When a skydiver decides to add a camera to its equipment list, it has potential risks of losing control leading to catastrophic results. Therefore, extra vigilance and safety measures are required,” says Brijesh Choubey, a lead analyst at Technavio for research on retail goods and services.
The market competitors are coming up with several ideas to reduce potential risks. They are designing lightweight cameras that are wearable and have less risk that does not distract the flyer. The compact size of the cameras allows pilots to fly freely and record all the experiences more easily than normal cameras. Moreover, image stabilization features like electronic image stabilization (EIS) and optical image stabilization (OIS), help in reducing shaking and jittery camera video.
Technological innovations: improved product features
“The key competitors are continuously innovating their skydiving equipment in terms of materials, weight, and quality. The demand for technologically advanced skydiving equipment from customers is constantly increasing. This is because of a rise in the complexities of natural environments and several risks associated with the sport,” adds Brijesh.
The technological innovations are based on many factors like fabric design, system engineering, mechanical design, control systems, and rigging and packing. One of the greatest innovations in skydiving equipment is automatic activation device (AAD). This is an electronic-pyrotechnic or mechanical device to automatically open the reserve parachute when the flyer is unable to open it. Another equipment in this innovative list is digital and audible altimeters.
Increasing importance of online reviews: a disruption in travel industry
These days, people tend to check online reviews before planning a holiday with easy Internet access and smartphones This trend has helped the traveling industry, thus making it more convenient to plan a holiday and have a good experience. With the development of web portals and the Internet affordability, a tremendous increase in the demand for adventure tourism has been witnessed.
Easy availability of essential data encourages travelers to try new adventure sports and be more confident about their journey and destination. It enables the travelers to plan their journey beforehand and obtain food and lodging facilities in advance through the information available on the Internet. Online reviews provide direct access to not only destination images and videos, reviews, and weather reports but also maps and guides.
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