Sports Optic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Sports Optic Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global sports optic market size reached US$ 2.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.6 Billion by 2028, exhibiting a growth rate (CAGR) of 3% during 2023-2028.

Sports optics refer to the devices used for magnifying distant objects for improved clarity and enhanced performance. Binoculars, rangefinders, rifle scopes and telescopes are some of the commonly available sports optics that are manufactured using plastic, glass and metallic frames. They are widely used in numerous sports, such as hunting, horse racing, golf, rifle shooting and water and snow sports, to assess the range of the target, improve the viewing experience, collect information and aim accurately. These devices can operate in the visible, ultraviolet (UV) and infrared (IR) range and offer enhanced clarity, portability, sharpness, magnification and dim and night vision functionalities.

Sports Optic Market Trends:
The increasing preference for recreational and sports activities among the masses is one of the key factors driving the growth of the market. Sports optics are widely used in sporting events, such as rifle, target, archery and handgun shooting to ensure precise aiming and accurate shooting over long distances. Additionally, the widespread utilization of telescopic sports optics for water and snow sports to prevent corneal scratches, eye infections, exposure to chemicals and saltwater and improve underwater visibility is favoring the market growth. Moreover, various product innovations, such as the launch of three-dimensional (3D) view optics that provide high-resolution images of distant objects, are providing a thrust to the market growth. In line with this, the introduction of sports optics that assists in measuring the distance, intensifying and illuminating the target in dim and no-light conditions is positively impacting the market growth. Other factors, including the increasing expenditure capacities of the consumers, along with the implementation of various government initiatives to promote sports training among the masses, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global sports optic market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, distribution channel and application.

Breakup by Type:

Telescopes
Binoculars
Rifle Scopes
Rangefinders

Breakup by Distribution Channel:

Online
Offline

Breakup by Application:

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

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report
1. What was the size of the global sports optic market in 2022?
2. What is the expected growth rate of the global sports optic market during 2023-2028?
3. What are the key factors driving the global sports optic market?
4. What has been the impact of COVID-19 on the global sports optic market?
5. What is the breakup of the global sports optic market based on the type?
6. What is the breakup of the global sports optic market based on the distribution channel?
7. What is the breakup of the global sports optic market based on the application?
8. What are the key regions in the global sports optic market?
9. Who are the key players/companies in the global sports optic market?