LONDON--(BUSINESS WIRE)--The paragliding equipment market size is poised to grow at a CAGR of about 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Growing health consciousness and need to stay fit and healthy is driving people to experiment with alternative physical activities. Adventure sports, like paragliding, skydiving, surfing, mountain climbing, caving, scuba diving, snorkeling, surfing, jet skiing, and many other activities have become inherent parts of recreational activities over the last decade. These adrenalin-boosting activities are also marketed as the best ways to de-stress. The physical and mental health benefits associated with these activities are encouraging people to participate in these activities, which will lead to the growth of the market.
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As per Technavio, the advent of innovative cameras and drones will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Paragliding Equipment Market: Advent of Innovative Cameras and Drones
The advent of innovative cameras and drones is one of the major trends being witnessed in the global paragliding equipment market. Along with participating in the activities, adventure sports enthusiasts also prefer recording their experiences. This is driving the demand for innovative cameras. GoPro cameras are among such innovative cameras in the market. They allow jumpers to enjoy the adrenaline-fueled action while capturing the act. Moreover, manufacturers have also introduced helmet cameras that capture every detail of the jumper in high definition. These cameras also capture slow-motion videos, and still photos, thereby attracting more customers.
“Other factors such as the growing popularity of paragliding training programs and courses, along with technologically advanced equipment will have a significant impact on the growth of the paragliding equipment market value during the forecast period,” says a senior analyst at Technavio.
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Paragliding Equipment Market: Segmentation Analysis
This market research report segments the paragliding equipment market by product (paragliders, harnesses, and reserve parachutes, protective gear, and others), by end-user (recreational and professional), by distribution channel (offline and online channel), and by region (the Americas, EMEA, and APAC).
The EMEA region held the largest share of the market in 2018, followed by APAC and Americas respectively. The growth of the paragliding equipment market share in EMEA can be attributed to factors such as the growth of adventure tourism, and the presence of a large number of professionals in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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