Sports Optics Market is projected to register a substantial CAGR of 6.7% in the forecast period of 2019 to 2026. The new market report contains data for historic year 2017, the base year of calculation is 2018 and the forecast period is 2019 to 2026.
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Drivers: Sports Optics Market
- Increased adoption of sports optic products across various applications
- Growing investment in the research and developmental activities
Restraint:
- High cost of advanced sports optics
Opportunity:
- Advent of digital binoculars in the sports optic industry
Challenge:
- Stiff competition among the market players
Market Trends:
Global Sports Optics Market is segmented into four notable segments which are on the basis of products, games, price range and distribution channel.
- On the basis of products, the market is segmented into binoculars/ monoculars, rangefinders, telescopes, fieldscopes, riflescopes and others. Binoculars/monoculars segment is dominating the market due to its wide usage in every sport which includes nature observation, hunting, sports events, boating and various others. As the product provides bright, expansive views in sports, hence demand for this product is higher in sports industry and hence in future it may help the market to grow.
- On the basis of games, the market is segmented into shooting sports, golf, water sports, wheel sports, snow sports, horse racing. Shooting sports segment is dominating and growing at highest CAGR due to higher demand for sports optics product amongst all the sports and growing popularity of shooting sports globally.
- On the basis of price range, the market is segmented into economic, mid-range and high range
- On the basis of distribution channel, the market is segmented into online and offline
Major Players: Sports Optics Market
Some of the major players operating in global sports optics market are Nikon Corporation, ZEISS International, U.S. OPTICS, LEUPOLD & STEVENS, INC., Trijicon, Inc., VISTA OUTDOOR OPERATIONS LLC., BERETA HOLDING S.A., Celestron, LLC., Leica Camera AG, SWAROVSKI GROUP, ATN, Schmidt & Bender GmbH & Co. KG, Vortex Optics, Nightforce Optics, Inc., Athlon, Meopta – optika, s.r.o., FLIR Systems, Inc. and L-3, EOTech Inc. among others.
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