LONDON--(BUSINESS WIRE)--The global boxing equipment market 2018-2022 is expected to post a CAGR of more than 5% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the rising popularity and number of sports tournaments. The growing interest of the global population in sports activities has had a direct effect on the growth and proliferation of sports tournaments. Recently, the sports industry has witnessed an upsurge in the number of tournaments. The number of boxing competitions played across the world and boxing training clubs are increasing, which can be attributed to the increase in the number of players in the last couple of years.
This market research report on the global boxing 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 surge in innovative boxing equipment as one of the key emerging trends in the global boxing equipment market:
Global boxing equipment market: Surge in innovative boxing equipment
Owing to the rising interest in sports activities such as boxing, vendors in the boxing equipment market are continuously investing in R&D activities to innovate and launch new products. Moreover, there is a constant demand for better production techniques and products that would not only add to the comfort and convenience of the user but also reduce production cost and provide a higher profit margin for users.
“Tracking technology is an emerging trend in the field of boxing and combat sports, which is used to track and enhance player’s performance by identifying the areas of improvement. It provides real-time training stats such as power, speed, the number of punches thrown and the punch type. For instance, Hysko launched a tracking device, which can be inserted in the gloves or hand wraps. The device will track the speed and frequency of punches, which can be analyzed for improving the performance of players. This device can be used for combat sports like boxing, kickboxing, and MMA,” says a senior analyst at Technavio for research on outdoor gear.
Global boxing equipment market: Segmentation analysis
This market research report segments the global boxing equipment market by end-user (boxing gloves, protective gear, and training equipment), by distribution channel (offline stores and online stores) and geographical regions (APAC, EMEA, and the Americas).
The Americas led the market in 2017 with a market share of more than 47%, followed by EMEA and APAC respectively. The markets in Eastern Europe and South America will gain traction during the forecast period. The market in APAC is growing, with major growth coming from nations such as China and Japan.
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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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