Sports Optic Market Demand, Size, Share & Forecast 2032

Table Of Content

Methodology

Free Analysis

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. In addition, the availability of different types of binoculars ranging from 3D view to video LCD binoculars makes them more attractive and common.

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, owing to the growing popularity of snow and water activities in the Asia Pacific and the rising penetration of handheld telescopes.

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 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, and upcoming event, the World Masters Games are predicted to further drive the Asia Pacific sports optic market.

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.