What Factors Propelled The Growth Of The Sports Optic Market In The Past?
The sports optic market has seen considerable growth due to a variety of factors.
•The market size for sports optics has seen a consistent expansion in the previous years. The market is predicted to increase from $2.16 billion in 2024 to $2.25 billion in 2025, with a compound annual growth rate (CAGR) of 4.3%.
The boost recorded in earlier times is mainly due to factors such as open-air amusement activities, improvements in production procedures, growing disposable income, the surge in wildlife watching, and the demands from military and law enforcement sectors.
What Is The Projected Growth And Market Size For The Sports Optic Sector?
The sports optic market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of sports optics is anticipated to witness a gradual surge in the coming years. The market is projected to increase to $2.69 billion by 2029, with a compound annual growth rate (CAGR) of 4.5%.
Several factors contributing to this growth in the forecast period include technological advancements, emphasis on less bulky and lighter designs, a surge in adventure tourism, heightened interest in long-range shooting, and growth in wildlife observation tourism. Key future trends consist of improved optical coatings, AI-powered optics, increased durability and weather proofing, greater use of carbon fiber and other advanced materials, and breakthroughs in night vision and thermal imaging.
Which Factors Are Boosting Growth In The Sports Optic Market?
The expanding interest in camping activities is predicted to boost the development of the sports optic market in the future. Camping, a tranquil outdoor pastime away from the city, immerses one in nature, fresh air and often wildlife for company. During camping activities such as birdwatching or observing other animals, sports optics like binoculars come into play to offer a closer look at wildlife from a safe distance. As an illustration, a report published by Kampgrounds of America Inc., a company from the US specializing in campground and outdoor hospitality services stated in July 2024 that the number of camping households rose to 16.5 million, a 23% increase, while active camping households had a whopping 68% surge reaching 21.6 million. Hence, the growing interest in camping activities is largely contributing to the progress of the sports optic market in the future.
What Key Areas Define The Segmentation Of The Global Sports Optic Market?
The sports optic market covered in this report is segmented –
1) By Product Type: Telescopes, Binoculars, Riflescopes, Rangefinders
2) By Distribution Channel: Online, Offline
3) By Applications: Golf, Wheel Sport, Snow Sport, Water Sport, Shooting Sports, Horse Racing, Other Applications
Subsegments:
1) By Telescopes: Refractor Telescopes, Reflector Telescopes, Compound Telescopes, Digital Telescopes
2) By Binoculars: Roof Prism Binoculars, Porro Prism Binoculars, Compact Binoculars, Marine Binoculars
3) By Riflescopes: Variable Power Riflescopes, Fixed Power Riflescopes, Night Vision Riflescopes, Tactical Riflescopes
4) By Rangefinders: Laser Rangefinders, Optical Rangefinders, Digital Rangefinders, GPS Rangefinders
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How Are Emerging Trends Reshaping The Dynamics Of The Sports Optic Market?
The emergence of product innovation is a significant trend observed in the sports optics market. To maintain their foothold in the market, leading companies in the sports optics market are creating ground-breaking products. For example, in March 2022, Ricoh Imaging Americas Corporation, a computer and electronics manufacturing firm from the US, introduced the Pentax Jupiter series of porro-prism binoculars. All four new models in the range possess large-aperture objective lenses that ensure a bright, sharp visual field, even in poorly-lit environments such as during nighttime or inside events. The binoculars feature a simple-to-use focus ring and an external rubber coating which facilitates a firm grip and minimizes the risk of slippage.
Who Are the Key Players in the Sports Optic Market?
Major companies operating in the sports optic market include:
• The Vangaurd Group Inc.
• Carl Zeiss AG
• Nikon Corporation
• Vista Outdoor Inc.
• Beretta Holding S.A.
• Safilo Group S.p.A
• Swarovski Optik KG
• Leica Camera AG
• Burris Company Inc.
• Trijicon Inc.
• Vortex Optics
• Bushnell Corporation
• Meopta - Optika S.R.O
• EOTech Inc.
• Celestron LLC
• American Technologies Network Corporation
• Nightforce Optics Inc.
• Nightforce Optics Inc.
• Barska
• Schmidt u. Bender GmbH & Co. KG
• GPO GmbH
• U.S. Optics
• FLIR Systems Inc.
What Is The Most Dominant Region In The Sports Optic Market?
North America was the largest region in the sports optic market in 2024. Asia-Pacific is expected to be the fastest-growing region in the sports optic market report during the forecast period. The regions covered in the sports optic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
