LONDON--(BUSINESS WIRE)--The global kiteboarding equipment market 2018-2022 is expected to post a CAGR of close to 10% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increased participation and inclusion of kiteboarding in the Olympics. Kiteboarding has seen increased participation all over the world since the last couple of years. Owing to increasing health consciousness and a need to stay fit and healthy, many people are showing interest in alternative physical activities like outdoor and adventure sports including kitesurfing.
This market research report on the global kiteboarding equipment market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the celebrity participation and social media driving interest among young kiteboarders as one of the key emerging trends in the global kiteboarding equipment market:
Global kiteboarding equipment market: Celebrity participation and social media driving interest among young kiteboarders
Social media plays a pivotal role in increasing awareness. Every kiteboarding team or vendor has a strong social media presence because consumer feedback and engagement are important in marketing. At present, consumers are more engaged in social networking and blogs. Therefore, the vendors prefer using social media to increase awareness and promote their products.
“Facebook, Twitter, Instagram, and YouTube are some of the powerful social media platforms for product promotion. For instance, the Instagram page of F-ONE kites is filled with kiteboarding photos and videos. These help brands to create strong brand image among consumers,” says a senior analyst at Technavio for research on outdoor gear.
Global kiteboarding equipment market: Segmentation analysis
This market research report segments the global kiteboarding equipment market by product (kites, accessories, and kiteboards) and geographical regions (APAC, EMEA, and the Americas and Caribbean).
EMEA led the market in 2017 with more than 54% of the market share, followed by Americas and Caribbean and APAC. Growing awareness and popularity of the developed markets such as the US, Italy, and Spain have helped these countries gain attention from vendors. Developing economies like Brazil, Indonesia, and Thailand have also experienced significant growth in the number of athlete and HNWIs opting for kitesurfing.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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