New York, NY, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Sports Optic Market By Product (Binoculars, Rangefinders, Riflescopes, and Telescopes) and By Application (Golf, Horse Racing, Shooting Sports, Snow Sports, Water Sports, Wheel Sports, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global sports optic market was USD 1.85 billion in 2018 and is expected to reach around USD 2.22 billion by 2025, at a CAGR approximately 2.63% between 2019 and 2025.
A wide variety of optical equipment, such as binoculars, telescopes, rangefinders, and riflescopes, are used for different sports activities and are called sports optics. These are used for achieving a sharper and larger view of a targeted object. Moreover, all sports optic equipment operate on almost the same concept of magnifying instruments. Among all sports optic products, binoculars are commonly used.
Browse through 37 Tables & 25 Figures spread over 172 Pages and in-depth TOC on “Global Sports Optic Market: By Product Type, Industry Size, Share, Trends, Analysis, and Forecast, 2018–2025”.
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The sports optic market is anticipated to grow notably in the future, owing to their ability to provide better performance specifications, such as clarity, magnification, sharpness, and portability of sports optics. Moreover, improved fan engagement is another factor boosting the sports optic market. Furthermore, the rising application of sports optic in numerous games is estimated to positively influence the market growth in the future. However, in-house entertainment system may hamper the sports optic market development.
By product, the sports optic market includes rangefinders, binoculars, rangefinders, and riflescopes. Binoculars are expected to hold a considerable market share, owing to its use in different types of games. Binoculars are designed to provide a high-quality image of a distant object, thereby propelling the demand for binoculars, especially in golf, horse racing, and shooting sports. Moreover, telescopes are projected to witness significant market growth over the forecast time period. On the basis of application, the shooting sports segment is expected to hold a notable share in the sports optic market. Shooting guns are used in several sporting events like rifle shooting, handgun shooting, and target shooting. Rising awareness about various shooting sports is anticipated to influence this segment’s growth.
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North America is expected to hold a substantial sports optic market share globally over the projected timeframe, owing to the regional presence of prominent players like Leupold & Stevens, Trijicon, Bushnell, Burris, and Celestron. In January 2019, Burris partnered with America’s Shooting Team to provide spotting scopes and binoculars. The factors such as increasing people’s interest in astronomy and hunting are driving the growth of sports optic market in the region. Moreover, more consumer involvement in the sports and entertainment sectors are boosting the demand for sports optics equipment.
Europe will hold a sizeable share of the sports optic market globally over the anticipated time period, as several regional players are leveraging on the latest technology to serve the customers with efficient and well-managed sports optic equipment’s combined with smart technologies. The increasing scope of amateur astronomy, development of astronomical research, and rising need for sports optics in numerous sports activities or events are mainly contributing to this region’s sports optic market.
Browse the full “Sports Optic Market By Product (Binoculars, Rangefinders, Riflescopes, and Telescopes) and By Application (Golf, Horse Racing, Shooting Sports, Snow Sports, Water Sports, Wheel Sports, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/sports-optic-market
The Asia Pacific is an emerging and promising sports optic market, due to the growth of small- and medium-scale businesses and developing economies of India and China. Moreover, the growth in the number of stadiums and upcoming sports events including Asian Winter Games and Summer Olympic Games held in 2017 and 2018, and upcoming event, the World Masters Games to be held in 2021 are predicted to further drive the Asia Pacific sports optic market. Moreover, the growing urban population has largely influenced the lifestyle of consumer’s leading to rising investments in gadgets and related equipment’s to pursue their hobbies, such as bird watching or other sports, thereby contributing to the sports optic market.
In Latin America and the Middle East and Africa, the governments of key economies are increasingly focusing on enhancement of player’s performance. Timely feedback is given to the players by their coaches. Thus, the need for sports optics is surging to enhance players’ performance, which is driving the sports optic market in these regions.
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Some noticeable players of the sports optic market are Leupold & Stevens, Nikon, Carl Zeiss, Bushnell, Burris, Trijicon, Celestron, Swarovski, Leica Camera, American Technologies Network, Vortex Optics, Hawke, Nightforce Optics, Meopta, Athlon, FLIR Systems, EOTech, and SIG Sauer.
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This report segments the global sports optic market into:
Global Sports Optic Market: Product Analysis
- Binoculars
- Rangefinders
- Riflescopes
- Telescopes
Global Sports Optic Market: Application Analysis
- Golf
- Horse Racing
- Shooting Sports
- Snow Sports
- Water Sports
- Wheel Sports
- Others
Global Sports Optic Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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