Global Sports Optic Market is valued approximately at USD 1.75 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 2.80% over the forecast period 2019-2026. Optics play a major role in sporting events with several sports needing the use of optical devices to measure the range of their target, take aim, gather information and improve the viewing experience. The sport optic is gaining traction mainly due to its facilities offered to athletes such as improve the sports performance, and also adds specifications like sharpness, portability, clarity, and magnification. A wide range of optical equipment, such as telescopes, binoculars, riflescopes and rangefinders, which are used for different sports activities and are called sports optics. Growing international sports events, rising government spending on sports infrastructure and enhanced fan engagement/experience are the few factor responsible for high CAGR of the market over the forecast period. For instance, In 2017, India government has spent around INR 3,200 Crores (USD 500 million) on sports infrastructure & training via its annual Union & State Budgets. Similarly, the government of United Kingdom has spent about of INR 9,000 (USD 1.5 billion).
Moreover, surging games using sports optic and evolving application in sports technology are some major factor likely to offer lucrative growth opportunity to the market in the upcoming years. However, high cost of advanced sports optic as well as availability of in-house entertainment system are few factor anticipated to restraining the growth of global Sports Optic market during the forecast period.
The regional analysis of global Sports Optic Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of advanced sports optic products and a high availability of golf courses in the region.
Also, high presence of prominent players such as Leupold & Stevens, Trijicon, Bushnell, Burris and so on, which is also acts a major driving force for the growth of North American region. However, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rising number of sports activities, constant technological advancements and growing youth population interest in sports event that would create lucrative growth opportunities for the Sports Optic market across Asia-Pacific region.
Major market player included in this report are:
- Carl Zeiss
- Leupold & Stevens
- Leica Camera
- Swarovski Optik
- ATN Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
- Shooting Sports
- Water Sports
- Wheel Sports
- Snow Sports
- Horse Racing
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year – 2016, 2017
- Base year – 2018
- Forecast period – 2019 to 2026
Target Audience of the Global Sports Optic Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)
- Third-party knowledge providers
- Investment bankers