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Surge In Camping Participation Drives Growth In The Sports Optic Market: Key Factor Driving The Growth In The Sports Optic Market
Sports Optic
What Is the Expected Sports Optic Market Size During the Forecast Period?
In recent years, the size of the sports optic market has consistently expanded. It is set to increase from $2.16 billion in 2024 to $2.25 billion in 2025, representing a compound annual growth rate (CAGR) of 4.3%. Factors contributing to the growth during the historical period include outdoor leisure activities, developments in production techniques, an increase in disposable income, a surge in wildlife observation, and demand from the military and law enforcement.
The market size of sports optics is anticipated to experience consistent expansion in the forthcoming years, increasing to $2.69 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 4.5%. The improvement in the forecast period can be credited to the incorporation of technology, emphasis on compact and lightweight designs, the upsurge in adventure tourism, growing interest in long-range shooting, and flourishing observation tourism of wildlife. Major trend shifts predicted in the forecast period comprises advanced optical coatings, AI-enhanced optics, improved durability and weather resistance, increased usage of advanced materials and carbon fiber, along with advancements in night vision and thermal imaging.
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What Are the High-Growth Segments in the 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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What Key Drivers Are Expected to Influence Future Sports Optic Market Growth?
The spike in camping activities is projected to boost the expansion of the sports optic market in the future. Camping, a relaxed outdoor pastime away from urban areas, immersed in nature, accompanied by fresh air and occasionally wildlife. Sports optics like binoculars are employed in camping activities such as bird watching and animal observation, allowing a closer view of the animals from a distance. For example, Kampgrounds of America Inc., a US enterprise specialising in campground and outdoor hospitality services, published a report in July 2024 that disclosed a 23% increase in the number of camping households to 16.5 million and a 68% surge in active camping households, totalling 21.6 million. Given these trends, the rise in camping activities is contributing to the expansion of the sports optic market in the future.
Which Companies Hold the Largest Share Across Different Sports Optic Market Segments?
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 Trends Are Driving Growth in The Sports Optic Market?
The sports optics market is witnessing a surge in product innovation, a trend that is gaining significant attention. Major players in this market are introducing cutting-edge products to maintain their market stance. For example, in March 2022, Ricoh Imaging Americas Corporation, a United States-based computer and electronics manufacturing organization, introduced the Pentax Jupiter series of porro-prism binoculars. These novel products consist of large-aperture objective lenses that ensure a bright and clear view, even in low-light conditions, such as during night-time or indoor events. These binoculars have conveniently usable focus rings and an outer rubber coating to offer a firm grip and minimize chances of slipping.
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What Are the Emerging Geographies for The Sports Optic Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Sports Optic Market?
2. What is the CAGR expected in the Sports Optic Market?
3. What Are the Key Innovations Transforming the Sports Optic Industry?
4. Which Region Is Leading the Sports Optic Market?
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