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Global Basketball Apparel Market 2019-2023 | 5% CAGR Projection Through 2023 | Technavio

Technavio has announced its latest market research report titled global basketball apparel market 2019-2023 (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--

The global basketball apparel market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191204005325/en/

Prominent vendors in the market are increasing the use of lightweight materials and incorporating breathable designs and other features in their product offerings. Some vendors are focusing on expanding their product portfolios and are consistently updating their pricing strategies to remain competitive in the market. Such developments among vendors are driving the growth of the global basketball apparel market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report==IRTNTR31032

As per Technavio, the introduction of connected basketball apparel 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.

Global Basketball Apparel Market: Introduction of Connected Basketball Apparel

The growing use of technologies is encouraging market vendors to introduce smart features in their products. For instance, the tags on Nike’s NikeConnect NBA Jersey allow users to connect it with their smartphones. This enables users to obtain scores, statistics, exclusive content, and highlight reels about their favorite teams and players. The introduction of connected basketball apparels by market vendors is expected to positively impact the market’s growth.

“Celebrity endorsements and expansion of online and offline distribution network will further boost market growth during the forecast period”, says a senior analyst at Technavio.

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Global Basketball Apparel Market: Segmentation Analysis

This market report segments the global basketball apparel market distribution channel (offline and online), end-users (male and female), and geography (APAC, Europe, MEA, North America, and South America).

The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the growing number of strategic brand partnerships between basketball celebrities and market vendors.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

  • Geographic comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20191204005325/en/