The athletic footwear market has been anticipated to expand at a significant pace in the foreseeable years. This rapid growth across the global market is owing to the dynamic shifts across viewing patterns of a global audience that is further predicted to bring noticeable changes in distribution, marketing, branding, and loyalties channels in the industry.
There are a lot of consumers that are engaging in cord shaving and cord-cutting. In addition to this, these consumers have also been playing a vital role in the falling rate of the industry products. This factor is likely to significantly impact the market trends. So, based on these factors, the market investors are projected to adapt themselves to the technologically advanced digital medium. The vibrant and interactive interaction of the digital medium requires a thorough analysis that has been predicted to create lucrative and suitable marketing and branding opportunities for players. These factors are likely to pave the way to create novel sales avenues in the athletic footwear market in the coming years.
The analysts from Transparency Market Research have prepared a detailed analytical report on the athletic footwear market. The research report includes growth opportunities, industry trends, regional outlook, key challenges, and noticeable developments.
There are numerous analysts who believed that generational changes have been estimated to serve as a pivotal factor for the sudden drop in the market ratings. These people have the belief that millennials along with their previous generation are not very keen to watch sports or related activities. On the flip side, this theory has been debunked through novel studies. There has been a noticeable increase in the millennials that are watching NFL on television. The number has significantly increased from 65% to 67% in the year 2016-2017. So, the information identifies the actual challenge in the market that is related to the generation or lack of interest. The key challenge for expansion opportunities in the athletic footwear market is related to fighting against short attention spans.
On the basis of nature, the athletic footwear market is highly fragmented. The key players operating in the market have been taking initiatives in order to bring novel growth opportunities along with growing concentration to adopt various strategies. Some of these market expansion strategies include expansion of company footprints around the world, product upgrades, portfolio diversion, mergers and acquisitions, novel product launching, and expansion of the service or product distribution network. Along with these initiatives, these industry players have also been investing increasingly in different R & D activities to bring technological advancements in the industry services.
The athletic footwear market has been classified into Europe, North America, Latin America, the Middle East & Africa, and Asia Pacific. Among these regional areas, North America and Europe have been predicted to grow at a significant speed with an increased stride toward e-sports.
On the flip side, there are a few countries, for example, China has been experiencing major uptake of novel sporting viewership that includes NBA and MLB. The market of e-sports has been anticipated to hold a dominating position in the forthcoming years with increasing urbanization, busy lifestyle, and congested space. These factors make the city dwellers away from traditional sports. In addition to this, there has been an increased demand for athletic footwear in traditional sports due to expanding outreach across new regions. Rising disposable income, and increased inclination for games with shorter formats. These factors are estimated to create revenue generation opportunities in the athletic footwear market in the coming years.
Interested in this report?
Get a FREE Brochure now!
*Get Brochure (PDF) sent to your email within minutes
Complete the form below and we'll get back to you shortly.