The latest research study “Sports Optic Market Growth: Global Industry Trends, Share, Size, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global sports optic market reached a value of US$ 2.13 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2.6 Billion by 2027 exhibiting a CAGR of 3.10% during 2022-2027.
Sports optics represent the various devices that are used for magnifying distant objects to cater to enhanced clarity and improved performance. They include rangefinders, binoculars, rifle scopes, telescopes, etc. Sports optics are produced by utilizing plastic, glass, metallic frames, etc. They offer numerous benefits, such as portability, sharpness, dim and night vision functionalities, magnification, etc. Consequently, sports optics are commonly used in hunting, horse racing, rifle shooting, golf, etc., to assess the range of the target. They are also utilized during sporting events, including target, archery, handgun shooting, etc., to ensure precise aiming and accurate shooting over long distances.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Sports Optic Market Trends and Drivers:
The elevating inclination towards recreational and sports activities among consumers is primarily driving the sports optic market. Apart from this, the expanding usage of telescopic sports optics in water and snow sports so as to prevent corneal scratches, eye infections, and exposure to chemicals is further stimulating the market growth.
Moreover, several product innovations, such as the introduction of three-dimensional (3D) view optics that offer high-resolution images of distant objects, are also positively influencing the global market. Besides this, the escalating product need to assist in measuring the distance while illuminating the target in dim and no-light conditions is further catalyzing the market growth.
In addition to this, the rising expenditure capacities of individuals and the launch of numerous favorable initiatives by government bodies to promote sports training activities are expected to fuel the sports optic market over the forecasted period.
|Sports Optic Market Report Scope|
|Market size value in 2021||US$ 2.13 Billion|
|Market forecast in 2027||US$ 2.6 Billion|
|Growth Rate||CAGR of 3.10% from 2022 to 2027|
|Base year for estimation||2021|
Global Sports Optic Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
American Technologies Network Corp, Burris Company Inc., Bushnell Inc. (Vista Outdoor Inc.), Carl Zeiss AG, Celestron LLC (Synta Technology Corporation of Taiwan), Karl Kaps GmbH & Co. KG, Leica Camera Aktiengesellschaft, Leupold & Stevens Inc., Meopta – optika s.r.o, Nikon Corporation, Primary Arms L.L.C., Teledyne Flir LLC (Teledyne Technologies Incorporated) and Trijicon Inc.
The report has segmented the market on the basis of region, type, distribution channel and application.
Breakup by Type:
- Rifle Scopes
Breakup by Distribution Channel:
Market Breakup by Application:
- Shooting Sports
- Water Sports
- Wheel Sports
- Snow Sports
- Horse Racing
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.