Tennis is a widely popular sport across the globe. A wide range of tennis equipment is available for players as per their age and skill level. Tennis equipment include tennis racquets, balls, equipment bags, apparels, footwear, and other accessories. History of tennis dates back to 11th century, when players in France used to play tennis with their hands. It was called ‘Jeu de Paume’. As the popularity of tennis increased worldwide, importance of tennis equipment increased over the period of time. Prominent manufacturers of tennis equipment include YONEX Co., Ltd., Wilson Sporting Goods, Nike, Inc., and Adidas AG. These companies produce racquets, balls, and strings as well as accessories such as apparels, equipment bags, headbands, wristbands, and shoes.
The tennis equipment market is primarily driven by rise in the popularity of tennis worldwide. Increase in the number of tennis events and promotional events has led to worldwide adoption of this sport. Australia, the U.S, France, Germany, Russia, and Spain are some of the countries wherein tennis is highly popular. Moreover, in the Asia Pacific region, tennis has gained wide popularity. The Commonwealth Games held in New Delhi (India) in 2008 have contributed to this popularity. Another driver for the tennis equipment market is increasing awareness about tennis as a fitness sport. This has resulted in increase in the popularity of tennis among kids, young millennials, and elderly people. According to the American Medical Society for Sports Medicine, more than 30 million tennis players in the U.S. are benefitted from tennis in terms of aerobic fitness, reduced cholesterol level, and improved bone health. Factors such as high requirement for replacement of tennis balls and racquets is likely to help in promoting growth of the tennis equipment market in the near future. On the other hand, certain associations specify the global standards for manufacturing of tennis equipment. For example, the International Tennis Federation (ITF) defines specifications for tennis racquets. As a result, it becomes difficult for local manufacturers to produce tennis racquets as per their choice.
One of the key trends observed in the tennis equipment market is use of information technology for direct promotion or marketing. Promotion of tennis as a fitness sport is another major trend observed in the market. For example, cardio tennis is a high-energy fitness activity that combines the best features of tennis with cardiovascular exercise. It delivers full-body, calorie-burning, aerobic workout. Tennis racquet manufacturers are adopting new technologies such as woofer, bending zone, and aero modular to make tennis racquets more durable and comfortable.
The tennis equipment market can be segmented based on type, distribution channel, and geography. In terms of type, the tennis equipment market has been segmented into tennis racquets, tennis balls, tennis strings, equipment bags, apparels, headbands & wristbands, shoes, and others (sunglasses, caps, hats & visors, etc.). Based on distribution channel, the market can be divided into online channel and offline channel. The online channel segment can be sub-segmented into direct selling and third-party selling, whereas the offline channel segment can be sub-segmented into supermarket and hypermarket. Geographically, the global tennis equipment market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the prominent players operating in the tennis equipment market are YONEX Co., Ltd. (Japan), Wilson Sporting Goods (the U.S.), Nike, Inc. (the U.S.), Adidas AG (Germany), BABOLAT VS S.A. (France), Solinco Inc. (the U.S.), Amer Sports (Finland), Head N.V. (Netherlands), Dunlop Sports (U.K.), and Technifibre (France). In order to gain a competitive advantage in the market, these players are constantly involved in collaborations, partnerships, agreements, and launch of new products.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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