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LONDON–(BUSINESS WIRE)–Technavio
analysts forecast the scuba diving equipment market in South Korea to
grow at a CAGR of close to 13% during the forecast period, according to
their latest market research report. The growth momentum of the market
is expected to accelerate in the year-over-year growth.

The advent of advanced scuba diving accessories is one of the major
trends being witnessed in the scuba
diving equipment market in South Korea 2019-2023. Owing to the
rapid technological advances in the travel, tourism, and underwater
diving accessories, technologically advanced scuba diving accessories is
one of the trends that is expected to gain prominence during the
forecast period. Also, a significant increase in product innovations
regarding masks, rebreathers and other gadgets is a major factor that
will drive the demand for advanced scuba diving accessories in South
Korea.

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According to Technavio analysts, one of the key factors contributing to
the growth of the scuba diving equipment market in South Korea is the
significant increase in e-commerce:

Scuba diving equipment market in South Korea:
Significant increase in e-commerce

Factors like a significant increase in internet penetration, along with
the rise in online purchasing of scuba diving equipment, drive the
online sales of scuba diving equipment in South Korea. Also, quick
delivery services, along with the competitive pricing of online
products, fuel the growth of e-commerce in the country. High penetration
of smartphones and the steady increase in the number of online shoppers,
along with increasing mobile commerce in South Korea, is expected to
drive the e-commerce in the country, which in turn, will increase the
number of customers purchasing scuba diving equipment online.

According to a senior analyst at Technavio, “As per the Korean
Herald, in June 2018, South Korea recorded the highest percentage of
smartphone owners when compared with other countries. The sale via
e-commerce in South Korea increased by 32.38% in 2018 when compared with
2017. Also, the number of online shoppers in South Korea increased by
1.31% in 2018 compared with 0.99% in 2017 and is expected to reach 32.12
million by 2022. As a result, various domestic retailers have started
offering scuba diving equipment online, which include 11Street and
Coupang, a part of Coupang USA.”

Scuba diving equipment market in South Korea:
Segmentation analysis

The scuba diving equipment market in South Korea research report
provides market segmentation by product (apparel, rebreathers, computer
and gauges and others) and by retail formats (specialty stores,
certification centers, hypermarkets and supermarkets, and online
stores). It provides an in-depth analysis of the prominent factors
influencing the market, including drivers, opportunities, trends, and
industry-specific challenges.

The specialty stores held the largest share of the market in 2018,
accounting for more than 33% share. It was followed by certification
centers, hypermarkets and supermarkets, and online stores respectively.

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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

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Technavio

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is a leading global technology research and advisory company. Their
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