Watersports Market to Reach $7.4 Billion by 2027: IndustryARC
Market Research Reports, Business Consulting Services & Analytics
An Increase in Number of Water Sports Enthusiasts and Health Benefits of Water Sports will help to Boost the Watersports Market Growth
HYDERABAD, TELANGANA, INDIA, October 19, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Watersports Market size is forecast to reach $7.4 billion by 2027, growing at a CAGR of 4.8% from 2022 to 2027. Tourism continues to be one of the sectors hit hardest by the COVID-19 pandemic, particularly for countries in the Asia-Pacific region and Western Hemisphere. Some governments have been providing financial support, either directly or through soft loans and guarantees to the industry. Thailand allocated $700 million to spur domestic tourism, while Vanuatu offered grants to small and medium-sized enterprises. Countries have also been assisting firms to adapt their business models and retrain staff. In Jamaica, the government gave free online training certification classes to 10,000 tourism workers to help improve their skills. All these factors will have a positive impact on the tourism sector in the mid to long term. In the short-term, Tourism continues to recover at a strong pace. Globally, destinations welcomed almost three times as many international arrivals in the first quarter of 2022 as in the same period of 2021, with Europe leading the sector’s rebound. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Click here to browse the complete report summary:
https://www.industryarc.com/Report/20080/bcg-watersports-market.html
Key takeaways:
1. The COVID-19 pandemic has had a devastating impact on communities worldwide, imposing considerable limits on many facets of society, including sports. FINA (Fédération Internationale de Natation) made several critical decisions to postpone or cancel major swimming events. Swimmers were not permitted to continue their customary training in swimming pools and were instead confined to their homes.
2. Since its inception, the COVID-19 epidemic has spread to nearly every country on earth. Many routine parts of life, including sport and physical exercise, have been interrupted by social and physical distancing measures, lockdowns of businesses, schools, and overall social life, which have become standard to restrict the spread of the disease. While in the mid-term Covid-19 will have a positive impact as the market, especially the tourism industry, recovers post Covid-19, the long and especially short-term prospects will certainly be impacted by the Covid-19 slowdown of the Tourism sector.
3. Companies in the surface water sports equipment market are currently experiencing difficulties. The travel and tourist industry may suffer the most from the extraordinary COVID-19 epidemic. As a result, the Watersports industry outlook suffers as a result.
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https://www.industryarc.com/pdfdownload.php?id=20080
Segmental Analysis:
1. Based on architecture segmentation, Multi-Activity segment is analyzed to account for the highest share of the market in 2021 at 66.3% share.
2. Smart Watches segment is analyzed to account for a high CAGR of around 5.3% in the Watersports Market during 2022-2027. In scuba diving breathing equipment is used that is completely independent of surface air as it is a type of underwater driving.
3. North America region is analyzed to account for the highest share of the Watersports Market in 2021 with 44.1%. Growing technological advancements in sports activities such as water polo, scuba diving and others, a growing number of Watersports enthusiast, increased awareness of a healthy lifestyle and various government initiatives to promote water sports and nautical tourism has led to the development of the Watersports Market in North America.
Competitive Landscape:
The top 5 players in the Watersports industry are -
1. Bali Jetpacks and Water Sports
2. Fury Water Adventures (Key West)
3. Gold Coast Watersports
4. Cruz Bay Watersports
5. Rockley Watersports
Click on the following link to buy the Watersports Market Report:
https://www.industryarc.com/reports/request-quote?id=20080
Why Choose IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.
Related Reports:
A. Adventure Sports and Water Sports Market
https://www.industryarc.com/Report/19188/adventure-sports-and-water-sports-market.html
B. Sports Analytics Market
https://www.industryarc.com/Report/16220/sports-analytics-market.html
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IndustryARC
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Venkat Reddy
IndustryARC
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