Sports Optic Market Demand, Size, Share & Forecast 2032

Sports Optic Industry Perspective

The global sports optic market size was worth around USD 2,124.30 million in 2023 and is predicted to grow to around USD 2,754.40 million by 2032 with a compound annual growth rate (CAGR) of roughly 3.05% between 2024 and 2032.

The report analyzes and forecasts the sports optic market on a global and regional level. The study offers past data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). The assessment of sports optic market dynamics gives a brief thought about the drivers and restraints of the sports optic market along with their impact on the demand over the years to come. Additionally, the report also includes the study of opportunities available in the sports optics market on a global level.

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The report gives a transparent view of the sports optics market. We have included a detailed competitive scenario and portfolio of the leading vendors operating in the sports optic market. To understand the competitive landscape in the sports optic market, an analysis of Porter’s Five Forces model for the market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Sports Optic Market: Growth Factors

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.

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Sports Optic Market: Segmentation

The study provides a crucial view of the sports optic market by segmenting it based on product, application, and region. All the segments of the sports optic market have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

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.

Sports Optic Market: Report Scope

Sports Optic Market: Regional Analysis

The regional segment comprises the current and forecast demand for North America, Asia Pacific, Latin America, Europe, and Middle East and Africa. 

North America is tipped to retain a significant share of the global sports optic market. This dominance is fueled by the presence of major players like Leupold & Stevens, Trijicon, Bushnell, Burris, and Celestron. An example of this strength is Burris's 2019 partnership with America's Shooting Team, supplying spotting scopes and binoculars.

The Asia Pacific region is emerging as a promising market, driven by the growth of small and medium-sized businesses and developing economies in India and China. Additionally, the increasing number of stadiums and upcoming sporting events like the Asian Games and the World Masters Games are expected to further propel the market growth in Asia Pacific.

Sports Optic Market: Competitive Analysis

The global sports optic market is dominated by players like:

• 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
• SIG Sauer.

This report segments the global sports optic market into:

By Product Analysis

• Binoculars
• Rangefinders
• Riflescopes
• Telescopes

By Application Analysis

• Golf
• Horse Racing
• Shooting Sports
• Snow Sports
• Water Sports
• Wheel Sports
• Others

By Regional Analysis

• North America

  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa