Global Logistics Market: Is Autonomous the Future of the Last Mile: Ken Research

Introduction:  The global Logistics and Shipping Industry Research and Market Reports is forecasted to be worth USD 15.5 Trillion by the year 2023 with a CAGR of 7.5% for the period 2015-2024 and is forecasted to grow by volume with a CAGR of 6% for the same period. The introduction of ecommerce and express delivery coupled with the recent explosive growth in online industrial sales has led to a massive growth in the logistics sector. Although logistics is a high cost field, the major factor behind the cost is the cost of last mile delivery. Last mile delivery, on average accounts for 50% of the total cost of delivering a parcel. The last mile delivery is the biggest cost factor when considering the delivery of a parcel owing to high transportation costs leading to a significant amount of goods having a transportation cost higher than manufacturing cost. The increasing need for an effective last mile delivery option has led to the introductory integration of autonomous technology into the logistics sector.

The Technology : The integration of autonomous trucks and automated factories is an evolving trend in the logistics sector with many companies still using a high amount of manual labor for warehousing and logistics services. Although automated logistics is a long term solution which will have a while before implementation the recent trend in the logistics sector is the usage of Drones for last mile delivery. The concept which is driven majorly by an initiative for easier delivery and minimum costs by companies like Amazon, spearheaded by Jeff Bezos himself has been emerging to be the major solution to the high cost of last mile delivery. Approx. 90% of packages that require to be delivered are capable of being delivered via drones and future estimates predict that only 2% of packages will be delivered manually via bike messengers for express delivery. The Amazon prime air initiative expects that the drones would be capable of delivering a parcel 30 min within placement of an order owing to the drones being capable of travelling at speeds of up to 60 mph. A critical bottleneck currently being that the range of the drones is within a radius of 7.5 miles leading to any greater distance not being currently possible but the proximity is expected to improve with time. An increasing number of startups have begun focusing on implementing autonomous cars as well attempting to deliver higher payload packages with minimum effort using specially designed spatial navigation algorithms to help the vehicles track and plan the routes independently. The increasing emergence of the unmanned aerial vehicle segment has led to the Drone and unmanned aerial bot market to grow rapidly with the market for drones to be worth USD 17 billion by the year 2024. The market growth has led to increased participation with major aerospace companies looking to have their own autonomous electric aerial vehicle such as the Boeing CAV Prototype which was made public in January 2018. Aside from implementing UAV’s, As of March 2018, Amazon made public their patent, for integration of Drone technology and Autonomous trucks aiming to showcase the extent to which the e commerce company homes to automate the process of logistics and transportation. Market estimates believe autonomous vehicles will be making 80% of all deliveries by 2025. The impact that Autonomous cars have in this sector is also major with companies like Nuro investing around USD 1.5 million into their self driving cars used for last mile delivery. 

Opportunity: The growing need for last mile delivery technology has emerged as the biggest need in the logistics sector as well as one of  the major commercial areas  for the application of Autonomous vehicles. The competition is virtually nonexistent with heavy research and development costs and high innovation cycles antiquating technology faster than ever before. Companies like Nuro, Amazon Air, Starship technologies and more are working towards pioneering UAV based drone delivery with lower requirement for energy as energy requirements for drones become the biggest challenge towards implementing drone based last mile delivery at scale with the second major obstacle being the network proximity owing to high initial capital costs 

Major Markets: Rapid evolution of the market is prominent in the US and in European regions with a majority of focus being in the US. A major growing application area for the implementation of drone delivery has been e commerce in China which is the major factor behind growing demand in the Asia Pacific region expected to have a CAGR of about 7.5% for the period 2017-2021

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Logistics and Shipping Industry Analysis

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Agriculture Industry: Stronger Cotton Hybrids Could Stabilize Cotton Supply

Introduction:  In April 2018, Zimbabwe’s major cotton producer Quton announced to the world that they had developed a new variety of their cotton seed market analysis hybrid for low resource, high yield farming. The company announced that their cotton hybrid seeds required lesser water and nutrition compared to non hybrids and provided 20-25% higher yield when compared to the non hybrid cotton. The company, along with the cotton research institute of Zimbabwe, has been researching advancements in cotton and aiming to provide a genetically and agriculturally superior strand of cotton which could help with cotton demand in Zimbabwe and more importantly, work towards being a major source of revenue for the country via exporting if planted on a large scale.

The Plant:  Natural cotton has a large scope but also has a need for ideal conditions for the growth of high quality cotton. Cotton is grown between latitudes of 37° north and 30° south in temperate, subtropical and tropical regions and in every continent. Ideal conditions for the cotton plant are: Long vegetation periods (175 to 225 days) without frost, Constant temperatures between 18 and 30°, Ample sunshine and fairly dry conditions, A minimum of 500 mm of water between germination and boll formation and Deep, well-drained soils with a good nutrient content. Although these conditions are available in specific locations, they are usually an impediment towards the easy and large scale growth of cotton.

The Market Spiral: The global seed market has had a major down period over the last few years with global cotton production declining and with export rates falling drastically as well leading to it having a projected CAGR of 2% for the period 2018-2023. Although there is immense effort, it is expected that production will not keep pace with demand. In the case of Zimbabwe, production has halved from its peak period of 400,000 tons to 200,000. Although 98% of the cotton produced in Zimbabwe is exported and that too, in its raw form, there still is no major contribution from cotton in Zimbabwe. The major market nation is China having 29% of the world’s cotton production followed by Pakistan, Brazil and Uzbekistan when it comes to exports. The main reason for the low level of exports from high producers like India is the majority of the cotton produced is used for domestic consumption. Global exports in 2016 amounted to USD 52.77 Billion which was 6.4% lesser than that of 2015. Although cotton is a major cash crop in the US, the major production happens in the Asia Pacific region. The main issue is the heavy amount of labor required and the high level of vulnerability to pest attacks coupled with the growth conditions and major demand for domestic consumption making cotton a difficult source of revenue for any economy.

Hybrid Application and Advantages: The new varieties of the hybrid cotton have been introduced with faster speed reducing the period between introductions of strains. The research undertaken by the cotton institute has led to the capacity to develop a new strain every 6-7 years rather than every 15 years. The company recently launched 3 hybrids (C567, C571 and C608). Broadly, they have large bolls, high protein content and good quality fiber compared to many varieties of hybrid cotton as well as natural cotton. Although there is a need for good agronomic practices, there is a major payoff using the hybrids in terms of yield has the C567 and C571 can yield about 5,500Kg per hectare while the C608, which is a drought resistant variety yields close to 4000Kg per hectare. Quton breeders expect the plant to have huge potential estimating that the hybrids have a potential for 60 Bolls per plant.

The Opportunity: The growth of the quality and reduction in difficulty of production in cotton farming has raised the potential contribution cotton can have on the economy of major producers. Over 180,000 farmers in Zimbabwe alone rely on cotton for their livelihood but falling global cotton lint prices, rising cost of production and hence, low returns have continued to subdue cotton production in Zimbabwe and most other African countries. Although the reform is barely been introduced and has been focused on a solution mainly for Africa, the application of the cotton hybrid is for many developing countries which do not always have the environment required to easily grow cotton and more importantly for countries like India and China which rely on cotton heavily for domestic consumption. Mainstream adoption of using these genetically superior strands of hybrid cotton could lead to the much needed restoration of the Global cotton market.

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https://www.kenresearch.com/agriculture-and-animal-care/seed/SC-104-20.html                

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Business Finance: Can Cryptocurrency Be the Future of Remittance: Ken Research

Introduction: There has been an increasing trend by migrant workers in foreign mature economies like North America and Europe to send money back to their families in their home country in the form of Remittance. Research predicts that by 2030 there will be an inflow of USD 6 Trillion with about half being sent to Asia. The biggest recipients of this fortune would be to developing countries with high rural population – India was the largest remittance market in the world in 2017 with USD 69 Billion being sent back to India alone. India was followed by China with a remittance amount of USD 64 Billion and Philippines with USD 33 Billion being the three largest remittance markets in the world. Aside from these three, more Asian countries like Pakistan and Vietnam were also on the list with remittance amounts of USD 20 Billion and USD 14 Billion with all of the mentioned countries being in the top 10. This helps explain why the Asian remittance market for 2017 was at USD 256 Billion.

The Issue: Although there is a significant amount of money being sent to these economies, a major portion is lost through transaction and service fees. In many developing economies, every penny counts as most families receiving remittance money use about 70% of the money received to cover their basic expenses. Transaction costs eat away a major chunk of the money with margins ranging from 2% to over 15% in developing markets. Although the global average is around 7% the number is majorly skewed with far higher rates in lower economic countries. This loss of funds as the cost of sending money home is causing a major dent in the role remittance can play towards the development of the global economy.

Opportunity: The implementation and growth of the peer to peer network for financial transactions and the growing need for a decentralized currency has led to the explosive increase in demand for crypto currency, mainly Bit coin. Although Bit coin is the most prominent there are other crypto currencies that exist which are gaining popularity and increasing value like Ethereum, Litecoin, Ripple, etc. The major growth, while positive for the future outlook of the economy and for crypto currency has had a large portion owing to people buying crypto currency without fully understanding the concept and its application. The second roadblock has been the level of adoption by vendors and companies owing to the skeptical nature of crypto currency. These factors have led to Bitcoins being worth USD 0.09 per bitcoin in July 2010 to USD 17,549.67 by Dec 2017. Although the volatility of the currency has yet to be addressed due to the lack of a law regime for regulation and due to a waving market sentiment. The security and validation offered allow for bitcoin or any solid crypto currency to be the most stable medium for the future of finance. Having all transactions done using crypto currency would result in a completely decentralized and open financial system which would completely be controlled by the network using it ensuring no one party gains through an unfavorable or unsavory method. Given these advantages, there are major applications for remittance through crypto currency. This trend has already started to see growth in South Korea and China with companies aiming to use crypto currency for remittance transactions and the trend is also expected to be implemented soon in Malaysia. Given that financial technology companies have had a major growth rate in Asian markets there is a major scope for a strong, well branded and trusted crypto remittance company to ensure that maximum remittance amounts reach the families that need them. Start-ups such as Bitspark in Hong Kong, and Bloom, Payphil, coins.ph and Satoshi Citadel Industries’ (SCI) remittance unit Rebit in Philippines, are trying to turn that into a business model. There is an even bigger advantage for developing economies: Reduced demand for crypto currencies in smaller economies often can lead to lower bitcoin prices, so sending $100 to Indonesia or the Philippines via bitcoin would result in the equivalent of more than $100 at the other end. Without the bank fees, the shops say they can charge their customers 25 to 75 percent less. This means a great deal to countries where the majority are in poverty and need every bit they can get. The introduction of Crypto currency has led to easier and safer transactions and while there are still security issues which need to be resolved, they are expected to be sorted out in the near future as research indicates that by 2030, Bitcoin will become the 6th largest global reserve currency leading to it having a mainstream place in society and therefore the economy

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Economic Evolution to Invigorate the Construction and Real Estate Market - Ken Research

Construction chemicals also known as specialty chemicals are usually defined as chemical compounds that are added in construction materials like cement and concrete at the construction sites in order to enhance the performance and workability, and protect & hold the construction material along with finished structure making it resilient. Additionally, these chemicals help in minimizing the quantities of water and cement required during the construction process. Thus, these chemicals are becoming an integral part of the construction activities in various sectors, be it residential, industrial or commercial.

 Ken Research offers detailed solution in the real estate industry with the help of its “Real Estate Market Research Reports” company offers in-depth study of the recent scenario of the Construction Industry in various geographies. It offers a comprehensive analysis to its users involving the integrity of logic and totality of contents. The reports basically portrays an outlay of the industry including specific definitions, classifications, applications and industry chain structure along with a market analysis for the international market including development history, competitive landscape analysis, and major regions' development status. Also, the development plans and policies are well discussed along with the related manufacturing processes and cost structures.

The “Real Estate Industry Analysis” is mainly split by (a) product types, with production, revenue, price, and market share and growth rate of each type, which are further divided into- Epoxy Resin, Vinyl Resin, Polyurethane (Pu), Polymethyl Methacrylate (PMMA) Resin and Other; and (b) by applications, aiming on consumption, market share and growth rate of Construction Flooring Chemicals in each application, further segmented into- Residential and Commercial.

In Construction flooring chemicals industry key players are namely: BASF, Dow Chemicals, Sinopec, Exxon Mobil, SABIC, DuPont, Ineos, LyondellBasell Industries, Mitsubishi Chemical Corporation, LG Chemicals, AkzoNobel, Mitsui Chemicals, Forbo Holdings, Toray Holdings, PPG Industries, Tremco, Huntsman, and Borealis AG.

This market has been observed to be stimulated majorly via factors like: amplifying construction activities in emerging economies like India, and multiplying adoption of the innovative construction procedures. Even, there has been a decent growth in the adoption of ready-to-mix concrete in Asia over the years and in future, when this adoption will be coupled with the surges in foreign direct investments in the real estate sector; a goodly number of opportunities are expected to be created ultimately leading to a holistic growth of this construction chemicals market.

Moreover, it has been witnessed that the infrastructure spending in Asia and Middle East  has constantly showed traces of growth and with developing environmental awareness amongst the Asians; their preferences have accordingly experienced a transition towards high-performance products and all these inter related positive changes have managed to ameliorate this industry’s revenue year after year. Not only this, even the strength of concrete used has enhanced considerably through the usage of these chemicals in the processes of construction.

In the years to proceed; backed by the rising government and foreign investments in mega projects; the demand for construction chemicals is projected to be highly intense especially in Southeast Asian countries such as the Philippines, Vietnam, Malaysia and Indonesia, which are lately noticed as relishing high investments in large-scale infrastructure as well as commercial projects.

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Real Estate Industry Analysis

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Global Surfing Equipment Market is Driven by Increasing Number of Women Surfers, Rising Popularity of the Sport, Increase in Surfing Destinations and Technological Innovations Bought in Design and Material: Ken Research

The report titled “Global Surfing Equipment Market Outlook to 2022 - by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel” believe that promotion of the equipments through surf training institutions, owing to the sustained product marketing efforts of surfing equipment manufacturers would continue to surge growth in the market.

Rising number of surfing professionals, growing support from the government and tourism boards to market various surfing activities, rise in population of millennial, expansion in marketing activities undertaken by major manufacturers and growing penetration of online retailing in the market have been regarded as the key drivers of growth in the global market during the year 2012-2017.

The market showcased a moderate growth at a CAGR in terms of consumer expenditure. Surfing is a very popular sport with nearly 18 million surfers globally. Participants from all age groups are attracted towards surfing. The market has been experiencing a strong evolution driven by sustained efforts of surfing equipment manufacturers, distributors, public & private associations and surf institutions engaged in making the sport more accessible & popular amongst people. The market growth has largely been supported by the factors such as rising interest of people in the sport as a leisure and sporting activity, easy accessibility to the sport through surf parks and surf pools and technological innovations that are highly focused on developing sophisticated surf-wear and surf-gear. Recently, it has been observed that this market has undergone transformation in target demographic group. More number of adults, senior citizens and women are increasingly participating in the sport. The rising participation from women in the sport has offered a lucrative growth opportunity for the surf wear market. An increase in the number of surfing destinations such as surf parks, surf pools, both indoor and outdoor, with artificial wave technology has made the sport more popular among the people. Between the year 2010 and 2014, the number of Aussies participating in surfing increased from 702,000 to 746,000. During the same period, the number of Aussie women taking part in surfing rose from 218,000 to 258,000, an increase of almost 20%. Moreover, the number of teenage girls aged 14-17 who surf regularly or occasionally grew from 31,000 to 50,000 over that time, while the number of 18-24 year-old women rose from 46,000 to 59,000. The manufacturers of surf wear have highly focused on innovations in materials, fabrics, designs depending on the customer’s choice and are offering high-performance carbon fiber based boards at reasonable prices to the target audience.

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https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-surfing-equipment-market/149478-95.html

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https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-rafting-equipment-market/149103-95.html

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/sports-equipment-global-group-of-eight-g8-industry-guide/144652-95.html

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How Cyber Security vulnerabilities will shape the future of Healthcare Sector Globally?

Introduction: Global Internet of Things Healthcare Market Analysis is forecasted to reach a market value of approx. USD 14.6 Billion. Market research estimates predict that there will be a total of approximately 20 billion connected devices by 2020 with roughly 40% being in the health sector. What this means is the introduction of 8 Billion opportunities for hackers to infiltrate a person’s life without them even knowing and worse, specific medical devices are so sensitive in a person’s health that improper functioning of the device could lead to death.

The problem: About 45% of all ransom ware attacks in 2017 were in the health sector with a major portion being in healthcare systems and about a third of the attacks being in healthcare devices. In 2017, the FDA was responsible for the recall of about 465,000 pacemakers due to “security vulnerabilities“. Furthermore, about 200,000 windows systems including those at 48 hospital trusts in the U.K. and medical facilities in the U.S. were hit by the ransom ware Wannacry leading to a medical crisis as the lack of a security patch for windows XP server led to a mass ransom ware attack.

Implication: Overall, hacking of medical IoT devices led to a loss of USD 6.3 billion in 2017 in the US alone. The need for security in IoT devices is alarmingly high. The threat of the vulnerability is highly prominent as IoT devices are connected to a person’s medical card which is exponentially more valuable than a credit card due to it containing a person’s credit card information, health data, social security, date of birth, address and more. A medical card can lead to further vulnerability as the virtual component could be further connected to the patient’s hospital or insurance provider. This looming threat has led to the recent spike of ransom ware in medical devices, namely Wannacry and NotPetya being the more prominent malware used to infect medical devices. The most recent development in the sector of ransom ware is the Hide and Seek Botnet capable of handling a system reboot by copying itself into /etc/init.d/, a folder that houses daemon scripts on Linux-based operating systems like the ones on routers and IoT devices. By placing itself in this menu, the device's OS will automatically start the malware's process after the next reboot. A majority of system malware in almost any device was capable of being eliminated by resetting the device and although it led to file loss it meant the malware would be removed as well but the development of the HNS bot has led to malware that can survive a system being reset. To make matters worse, the bot has added support for brute force attacks. What this means is that HNS infected devices will scan for other devices that have an exposed Telnet port and attempt to log into that device using a list of preset credentials. This threat is further exemplified when taking into account automated medicine dispensing. Medicine and health is all about taking the right doses of the right substance at the right time prompting the right reaction. This fundamental principle of healthcare is exposed to chaos by computer enthusiasts if a proper network security protocol is not implemented.

Conclusion: There is an evolving need for the implementation of a solid security framework for technology. The lack of a central regulatory body and the lack of an effective law regime for smart devices have caused a major gap between the level of usage and the safety of technology. Technology stores a person’s most sensitive information as the colloquial “data “which is traded like currency in recent times. There are increasing cases of unauthorized use and sale of data caused by security breaches from software and applications consumers install on their devices. While the previous threat was contained at having your data accessed without your knowledge, the threat with medical devices is far more significant – Electronically controlled pacemakers can be overridden to damage your heart, life support machines can be shut down, insulin pumps can administer a fatal dose and more. This major vulnerability in electronic healthcare technology presents a major opportunity for provision of security systems for IoT based healthcare devices and remote medicinal equipment. As the threat has been detected, the market for security of medical devices is still poised to truly grow. This offers significant economic opportunity for emerging companies like Protenus, ClearData, Medcrypt, Senrio and more to develop adequate security systems for safe and accessible storage of consumer medical information and control over medical devices.

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https://www.kenresearch.com/healthcare/general-healthcare/SC-91-64.html                       

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Global Surfing equipment Market Outlook to 2022: Ken Research

The report titled “Global Surfing Equipment Market Outlook to 2022 - by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel” provides a comprehensive analysis of global surfing equipment market. The report covers introduction, value chain and market size on the basis of consumer expenditure, market segmentation by Equipments (Surf Board and Surf Gear & Accessories), by Region (Americas, Europe, APAC & MEA), by New & Existing Demand and by Distribution Channel (Company Stores and Specialty Stores, Online, Hypermarkets and Others). The report also includes government regulations, competitive landscape, company profiles for major players (O'Neill, Quicksilver, Billabong International, Body Glove International, Gull Water sports, Hurley International and Channel Islands Surfboards) and market share along with analyst recommendation.

The report facilitates the readers with an identification and in-depth analysis of the existing and future trends and issues that impacts the industry. It provides the readers an idea regarding growth in the future depending upon changing industry dynamics in coming years. The report is useful for water sports equipment manufacturers, surfing equipment manufacturers, distributors, specialty sporting goods stores, department stores, e-commerce portals, customers and other stakeholders to plan their market centric strategies in accordance with the ongoing and expected trends in the future.

Global Surfing Equipment Market Size and Overview

Market Overview:

International tourist arrivals and tourist expenditure has been increasing at a steady pace over the review period (2012-2017), globally. Coupled with an increase in interest of people towards soft adventure sports, rising popularity of surfing & adventure sports and growing awareness regarding fitness-benefits of opting surfing has supported growth in this industry. Americas has been the biggest market in terms of expenditure incurred by consumers in surfing equipment’s followed by Europe, APAC and Middle East & Africa. Increase in demand has also been affected by growing base of Millennial, higher per capita income in major markets, presence of well-established players and expanded distribution network in new regions/countries.

Market Size: Major players have been using diverse product portfolios and aggressive marketing & sales strategies to position themselves in the market with increase in variety of surfing equipment’s available in the market, primarily, in terms of size, quality, capacity and utility. This has helped the market to grow at a CAGR of close to 4% during 2012-2017. Increased trade has been observed amongst major producing and consuming countries. Several leading manufacturers have invested huge amount in research & development segment to foster product innovations to increase durability and sturdiness of surfing equipments. By and large, Global surfing equipment market has increased by significant amount in the review period.

Market Segmentation

By Equipment: Surf boards have captured a major market segment in 2017. Major reason for surf boards to hold higher revenue share in the market is its bulk sales, high price and high replacement demand. These equipments are bought by surfing professionals, retail/recreational clients as well as by large-scale and small scale water surf training institutes in large quantities. Surf gear and accessories together accounted for a lower share in the market. The gear and accessories required for surfing is not highly priced moreover, it is not mandatory for a surfer to wear gears and accessories to indulge in the sport. This primarily justifies its lower share in the market. Wetsuit is the most essential surfing gear. The price of a surfing wetsuit starts from below USD 150 and may go beyond USD 300. Similarly, the price of a vest starts below USD 50 and go beyond USD 100.

By Region: The global surfing equipment market was dominated by Americas in the year 2017. The region occupies the largest share owing to the presence of well-established water sports/surfing infrastructure and large number of surfing enthusiasts. In the recent years, surfing has been adopted as a recreational activity along with being taken-up professionally. Europe accounted for the second largest share in the surfing equipment market. The presence of increased number of water sporting sites across Europe makes it the second-largest revenue contributor. APAC region also witnessed growth in demand for surfing equipments with an increase in both consumption and production especially in Australia, China, India, New Zealand, Vietnam and Indonesia. Middle East and Africa has accounted for the lowest share in the surfing equipment market in 2017. Major reasons to support such low revenue generation are lack of natural resources and water bodies to support the sport, low participation rates, less number of surfing facilities available and low awareness amongst population regarding surfing as a sports event.

By Distribution Channel: Company Stores and Specialty Stores dominated the market in 2017. This sales channel has been highly popular since major large scale manufacturers of surfing equipments usually operate through own brand stores that exclusively sell equipments of their brand. The purchase of sports equipments online has been gaining high popularity over the years and has accounted for second largest share in the market. Some of the major online retailers selling sports equipments are Amazon and Alibaba. Hypermarkets, department stores and supermarkets have accounted for double digit share in terms consumption expenditure. Some of the well-known stores include Walmart and Tesco.

Competitive Landscape

Competition in the global surfing equipment market is highly fragmented due to the presence of large number of regional players. In the Americas, the competition in the concentrated however, majority of market leaders have substantial control over market share in 2017. Majority of manufacturing facilities are based in this region leading to large exports to countries such as UAE, South Africa and India. Similar scenario is in Europe. The major players in the market are involved in both manufacturing as well as trading. Competition in APAC and Middle East & Africa is still in the growing phase & highly fragmented. There are about 5-10 major surfing equipment manufacturers operating in the global market. Majority of manufacturing clusters of these major manufactures are located in North America and Europe. These players compete against each other on the basis of price, product differentiation (product portfolio size and product innovations), distribution network, geographical penetration/geographical presence and research & development activities. Major players include Quicksilver, Billabong, Hurley, O'Neill, RVCA, Volcom, Reef Sports, Roxy, Ripcurl and others.

Future Analysis and Projections

Global surfing equipment market has been anticipated to showcase a sound growth at a CAGR of close to 6% during the forecast period (2017-2022E). Growth during this period is expected to be supported by the rising popularity of surfing as a recreational and profession activity, increase in the number of surfing championships and tournaments, increase in demand from Millennial, increased awareness regarding fitness benefits of surfing, expanding geographical presence of major manufacturers, intensifying distribution channels, expansion of online retailing, new product launches, government initiative to promote the usage of protective surfing equipments and others.

To know more, click on the link below:

https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/global-surfing-equipment-market/149478-95.html

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https://www.kenresearch.com/consumer-products-and-retail/sporting-equipments/sports-equipment-global-group-of-eight-g8-industry-guide/144652-95.html

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Ankur Gupta, Head Marketing & Communications

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