Global Sports Optic Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Sports Optic Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global sports optic market report has been segmented on the basis of product, end user, and region.

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Global Sports Optic Market: Dynamics

Increasing number of games using sports optic and rising application in sports technology are some major factors expected to drive growth of the global market over the forecast period.

In addition, performance features such as clarity, sharpness, portability, and magnification are some other factors expected to further fuel growth of the target market over the forecast period.

Moreover, increasing popularity of various types of sports such as water sports, snow sports, shooting sports, golf, etc., among individuals is another factor expected to propel growth of the target market over the forecast period.

Rising manufacturers focus towards strategic mergers and acquisitions in order to enhance their business and product offerings is another factor expected to support growth of the global market over the forecast period.

For instance, Burris partnered with USA Shooting in order to provide products such as binoculars and spotting scopes and this partnership makes Burris the official optics provider of America’s Shooting Team in January 2019.
In addition, in June 2018, Trijicon acquired AmeriGlo, a manufacturer of high visibility pistol sights in order to enhance company’s product and brand portfolio by increasing manufacturing capacity.

However, competition from in-house entertainment systems is a key factor expected to restrain growth of the target market over the forecast period.

Increasing technological development and innovative product launches are some factors expected to create potential revenue opportunities for players operating in the target market over the forecast period.

Global Sports Optic Market: Segment Analysis

Among the product segments, the telescopes segment is expected to register significant market share over the forecast period, as increasing demand for telescopes form sports such as water sports and snow sports.

Among the end user segments, shooting sports segment is expected to register highest market share in the sports optics market over the forecast period, owing to rising awareness of shooting sport across the globe. Shooting guns are mainly used in sporting events such as target shooting, rifle shooting, and handgun shooting.

Global Sports Optic Market: Regional Analysis

The markets in North America and Europe are expected to register significant market share over the forecast period, owing to increasing investment activities by governments for training armatures and professionals for shooting events and presence of sports optics manufacturers across various countries in these regions.

Currently, the market in Asia Pacific is accounted for less market share in the sport optic market, owing to low demand and lack of spending’s by technologically advanced countries in this region.

However, rapidly increasing number of stadiums and upcoming sport events, such as Summer Olympic Games (2018), Asian Winter Games (2017), and World Masters Games (2021) and rising number of small- and medium-scale businesses across various countries in the region are some major factors expected to drive growth of the target market in this region over the forecast period. In addition, presence of some leading manufacturers of binoculars and telescopes in China offers innovative products for sports optics across sports industries is another factor expected to support growth of the target market in this region.

Global Sports Optic Market Segmentation:

Segmentation by product:

Telescopes
Binoculars
Rangefinders
Riflescopes

Segmentation by end user:

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