Cycliq (ASX: CYQ)
By 2019, the global cycling market is expected to be worth $58 billion, whilst the action camera market is currently worth $6 billion and is growing quickly.
These are big addressable markets for a company that can create products that resonate with cyclists’ sense of fun as well as their need to keep safe.
One recently listed ASX junior is looking to take a stranglehold on these multi-billion dollar markets -via the development and distribution of an HD action camera that challenges Go-Pro as the key tool to capture a cyclist’s riding exploits, whilst keeping their limbs intact.
Sales are already being made, and following its $3.25 million capital raise and entrance to the ASX, this ASX stock is set to kick into a higher gear via global sales and distribution.
In fact today’s company hopes to follow in similar footsteps to GoPro’s widespread success , but with seemingly one key advantage: this company’s product has already caught a cult wave of cyclists who prefer it over the GoPro.
This ASX stock’s product is already sold in over 25 countries including America, the UK, Australia and countries throughout Europe and Asia.
It is now looking to transition from a niche bike accessory supplier to a mainstream provide of bike safety equipment, as well make expansive moves into wider markets including snowboarding and skiing, motorbikes, scuba diving, military and emergency services and security and protection outfits.
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This company is already the number one brand in HD camera and lighting combos that deliver cycling safety and action camera solutions for cyclists.
Now, with cash in the bank and growing supporter base, it is intent on delivering more products into more markets, whilst capitalising on the greater demand for an action camera product that delivers, community, connectivity, interactivity and safety.