Sports Optic Market

Sports Optic Market by Products (Telescopes, Binoculars, Rangefinders, And Riflescopes), Games (Shooting Sports, Golf, Water Sports, Wheel Sports, Snow Sports, Horse Racing), and Geography (North America, Europe, Apac, Row) - Global Forecast to 2024

Report Code: SE 7002 Mar, 2019, by marketsandmarkets.com

[111 Pages Report] The overall sports optic market is projected to value at USD 1.8 billion in 2019 and is expected to reach USD 2.1 billion by 2024, at a CAGR of 2.71% during that period. A major growth driver is the enhanced fan engagement/experience. Further, superior performance specifications such as clarity, sharpness, portability, and magnification are driving the sports optic market.

Sports Optic Market

Market for sports telescopes to grow at higher CAGR during forecast period

Currently, telescopes hold less share in the sports optics market, as they are used in limited sports such as water sports and snow sports. However, with increasing water and snow sports activities across the globe, demand for telescopes will also increase. Further, in the coming years, the penetration of handheld telescopes will boost the demand for telescopes in other sports categories. The growth of water and snow sport activities in APAC are expected to further help grow this market at the highest CAGR.

Shooting sports to be dominant in sports optic market during forecast period

Shooting sports holds a larger share in the sports optics market for games. Shooting guns are mainly used in sporting events such as rifle shooting, target shooting, and handgun shooting. Increasing awareness about shooting sport is expected to fuel the global market for shooting sports. Increasing investments by the government (especially in North America and Europe) in training armatures and professionals for shooting events and the presence of manufacturers are expected to drive the market of sports shooting. Further, with declining cost of riflescopes is also expected to boost the sports rifle scope market for sports shooting.

Sports Optic Market

APAC to register highest growth during forecast period

Currently, APAC holds a less share of the sport optic market; the low demand is owing to the lack of spending capability in most technologically advanced countries in the region. However, in coming years with increasing number of stadiums and upcoming sport events, such as Asian Winter Games (2017), Summer Olympic Games (2018), and World Masters Games (2021), the market for sports optics is also expected to increase. APAC is a promising and emerging market for the sports optic products owing to factors such as growing economies, growth of small- and medium-scale businesses, and others. Few leading companies of binoculars and telescopes in China offer innovative sports optics across sports industries.

Key Market Players

Key players in the sports optic market are Nikon (Japan), Carl Zeiss (Germany), Leupold & Stevens (US), Bushnell (US), Trijicon (US), Celestron (US), Burris (US), Leica Camera (Germany), Swarovski Optik (Austria), and ATN (US).

Nikon held the leading position in the global sports optic market in 2018.  Nikon deals with optics and imaging products. Nikon offers products such as cameras, camera lenses, microscopes, binoculars, and measurement instruments. The company's focus on enhancing R&D capabilities to serve the local market strengthens its global market position.

Recent Developments

  • In January 2019, Burris partnered with USA Shooting. The partnership makes Burris the official 2019 optics provider of America’s Shooting Team, and Burris will be providing products such as binoculars and spotting scopes.
  • In June 2018, Trijicon acquired AmeriGlo, a manufacturer of high visibility pistol sights. This acquisition has enhanced Trijicon’s product and brand portfolio, while increasing its manufacturing capacity.
  • In September 2017, ZEISS launched 2 spotting scope models: ZEISS Harpia 22-65x85 and ZEISS Harpia 23-70x95 with a 3xwide-angle zoom. The spotting scopes have a large wide-angle zoom range of 22x to 65x magnification on the 85 model, and 23x to 70x magnification on the 95 model.

Critical questions the report answers:

  • Where will all the developments take the industry in the mid- to long-term?
  • What are the emerging applications that are expected to drive the sports optic market?
  • What are the key strategies adopted by leading companies in the sports optic market?
  • What are the trends prevalent in the sports optic market?
  • What advancement in products is expected to gain traction in the sports optic market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Study Objective
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 List of Major Secondary Sources
                    2.1.1.2 Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing the Market Size By Bottom-Up Analysis (Demand Side)
                    2.2.1.2 Approach for Capturing Market Size Considering Various Players in Value Chain of Sports Optics Market
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Size By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 25)

4 Premium Insights (Page No. - 29)
    4.1 Attractive Opportunities in Sports Optic Market (2019–2024)
    4.2 Sports Telescopes Market, By Games
    4.3 Sports Optics Market for Golf, By Products
    4.4 North American Sports Optic Market

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Enhanced Fan Engagement/Experience
                    5.2.1.2 Superior Performance Specifications Such as Clarity, Sharpness, Portability, and Magnification
           5.2.2 Restraints
                    5.2.2.1 High Cost of Advanced Sports Optic
           5.2.3 Opportunities
                    5.2.3.1 Increasing Games Using Sports Optic
                    5.2.3.2 Emerging Application in Sports Technology
           5.2.4 Challenge
                    5.2.4.1 Competition From In-House Entertainment Systems
    5.3 Value Chain Analysis

6 Sports Optic Market, By Products (Page No. - 39)
    6.1 Introduction
    6.2 Telescopes
           6.2.1 Increasing Adoption of Telescopes in Water Sport and Snow Sport is Driving the Telescopes Market
    6.3 Binoculars
           6.3.1 Binoculars Hold A Larger Share in the Sports Optic Market
    6.4 Rifle Scopes
           6.4.1 Increasing Number of Sports Shooting Events is Expected to Fuel the Rifle Scopes Market
    6.5 Rangefinders
           6.5.1 Golf is the Prominent Game Using Rangefinders

7 Sports Optic Market, By Games (Page No. - 46)
    7.1 Introduction
    7.2 Shooting Sports
           7.2.1 Shooting Sports Holds A Larger Share in the Sports Optic Market
    7.3 Golf
           7.3.1 Rangefinders in Golf Have an Important Impact on the Performance of the Players,
    7.4 Water Sport
           7.4.1 Telescopes Hold A Major Share in Water Sport
    7.5 Wheel Sport
           7.5.1 Increasing Participation of Cycling Activities and Recreational Activities is Driving the Wheel Sport Market
    7.6 Snow Sport
           7.6.1 Binoculars Hold A Major Share in the Snow Sports
    7.7 Horse Racing
           7.7.1 Rangefinders are Expected to Grow at A Highest Rate in Horse Racing Sport
    7.8 Other Games
           7.8.1 Increasing Number of Sports Leagues are Expected to Drive the Sports Optics Market for Other Games

8 Geographic Analysis (Page No. - 56)
    8.1 Introduction
    8.2 Europe
           8.2.1 Increasing Number of Events is Boosting Sports Optic Market in Europe
    8.3 North America
           8.3.1 North America is A Key Region in the Sports Optics Market in Terms of Market Share
    8.4 Asia Pacific
           8.4.1 APAC Holds Vast Opportunities for the Development and Use of Advanced Sports Optic Market.
    8.5 RoW
           8.5.1 Sustainable Sport Facility Investments in MEA is Expected to Fuel the Sports Optic Market

9 Competitive Landscape (Page No. - 66)
    9.1 Overview
    9.2 Ranking Analysis
    9.3 Competitive Leadership Mapping
           9.3.1 Visionary Leaders
           9.3.2 Dynamic Differentiators
           9.3.3 Innovators
           9.3.4 Emerging Companies
    9.4 Competitive Scenario
           9.4.1 Product Launch and Development
           9.4.2 Exhibition, Award, and Event
           9.4.3 Partnership
           9.4.4 Acquisition

10 Company Profiles (Page No. - 74)
(Business overview, Products offered, Recent developments, Key relationships, SWOT Analysis, and MnM view)*
     10.1 Key Players
             10.1.1 Nikon
             10.1.2 Carl Zeiss
             10.1.3 Leupold & Stevens
             10.1.4 Bushnell
             10.1.5 Trijicon
             10.1.6 Celestron
             10.1.7 Burris
             10.1.8 Leica Camera
             10.1.9 Swarovski Optik
             10.1.10 ATN Corporation
     10.2 Other Key Companies
             10.2.1 Hawke
             10.2.2 Vortex Optics
             10.2.3 Nightforce Optics
             10.2.4 Athlon Optics
             10.2.5 Flir Systems
             10.2.6 Meopta
             10.2.7 U.S. Optics
             10.2.8 SIG Sauer
             10.2.9 Eotech
             10.2.10 Primary Arms

*Details on Business overview, Products offered, Recent developments, Key relationships, SWOT Analysis, and MnM view might not be captured in case of unlisted companies.

11 Appendix (Page No. - 104)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (34 Tables)

Table 1 Sports Optic Market, By Products, 2016–2024 (USD Million)
Table 2 Sports Telescopes Market, By Games, 2016–2024 (USD Million)
Table 3 Sports Telescopes Market, By Region, 2016–2024 (USD Million)
Table 4 Sports Binoculars Market, By Games, 2016–2024 (USD Million)
Table 5 Sports Binocular Market, By Region, 2016–2024 (USD Million)
Table 6 Sports Rifle Scopes Market, By Games, 2016–2024 (USD Million)
Table 7 Sports Rifle Scopes Market, By Region 2016–2024 (USD Million)
Table 8 Sports Rangefinder Market, By Games, 2016–2024 (USD Million)
Table 9 Sports Rangefinder Market, By Region, 2016–2024 (USD Million)
Table 10 Sports Optic Market, By Games, 2016–2024 (USD Million)
Table 11 Sports Optic Market for Shooting Sports, By Products, 2016–2024 (USD Million)
Table 12 Sports Optic Market for Shooting Sports, By Region, 2016–2024 (USD Million)
Table 13 Sports Optic Market for Golf, By Products, 2016–2024 (USD Million)
Table 14 Sports Optic Market for Golf, By Region, 2016–2024 (USD Million)
Table 15 Sports Optic Market for Water Sport, By Products, 2016–2024 (USD Million)
Table 16 Sports Optic Market for Water Sport, By Region, 2016–2024 (USD Million)
Table 17 Sports Optic Market for Wheel Sport, By Products, 2016–2024 (USD Million)
Table 18 Sports Optic Market for Wheel Sport, By Region, 2016–2024 (USD Million)
Table 19 Sports Optic Market for Snow Sport, By Products, 2016–2024 (USD Million)
Table 20 Sports Optic Market for Snow Sport, By Region, 2016–2024 (USD Million)
Table 21 Sports Optic Market for Horse Racing, By Products, 2016–2024 (USD Million)
Table 22 Sports Optic Market for Horse Racing, By Region, 2016–2024 (USD Million)
Table 23 Sports Optic Market for Other Games, By Products, 2016–2024 (USD Million)
Table 24 Sports Optic Market for Other Games, By Region, 2016–2024 (USD Million)
Table 25 Sports Optic Market, By Region, 2016–2024 (USD Million)
Table 26 Europe Sports Optic Market, By Games, 2016–2024 (USD Million)
Table 27 North American Sports Optic Market, By Games, 2016–2024 (USD Million)
Table 28 APAC Sports Optic Market, By Games, 2016–2024 (USD Million)
Table 29 RoW Sports Optic Market, By Games 2016–2024 (USD Million)
Table 30 Ranking of Top 5 Players in Sports Optic Market (2018)
Table 31 Product Launch, Development, and Deployment (2016–2019)
Table 32 Exhibition, Award, and Event (2018–2019)
Table 33 Partnership (2016–2019)
Table 34 Acquisition (2018)


List of Figures (25 Figures)

Figure 1 Sports Optics Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Binoculars to Hold Larger Size in Sports Optics Market By 2024
Figure 6 Shooting Sports to Hold Larger Size of Sports Optic Market Based on Games By 2024
Figure 7 Europe Held Largest Share of Sports Optic Market in 2018
Figure 8 Enhanced Fan Engagement/Experience Drives Sports Optic Market Growth
Figure 9 Water Sport to Hold Largest Market for Sports Telescopes Market By 2024
Figure 10 Binocular to Hold Largest Market Size in Golf By 2024
Figure 11 Golf to Hold Largest Share of North American Sports Optic Market By 2024
Figure 12 Superior Performance Specifications and Enhanced Fan Engagement/Experience is Driving the Sports Optic Market
Figure 13 Value Chain: Sports Optic Market, 2018
Figure 14 Binoculars to Hold A Larger Share of the Sports Optic Market in Terms of Value, By 2024
Figure 15 Shooting Sports to Hold A Larger Share in Sports Optic Market in Terms of Value, By 2024
Figure 16 Rangefinders to Grow at Highest CAGR in Sports Optic Market for Horse Racing During Forecast Period
Figure 17 Geographic Snapshot of Sports Optic Market, 2018–2024
Figure 18 Sports Optics Market Snapshot in Europe
Figure 19 Sports Optics Market Snapshot in North America
Figure 20 Sports Optics Market Snapshot in APAC
Figure 21 Shooting Sports to Hold A Larger Share in RoW for Sports Optic Market
Figure 22 Product Launch and Development as Key Strategy Adopted By Players in Sports Optic Market (2016–2019)
Figure 23 Sports Optic Market (Global) Competitive Leadership Mapping, 2018
Figure 24 Nikon: Company Snapshot
Figure 25 Carl Zeiss: Company Snapshot

The study involved 4 major activities for estimating the current size of the sports optic market. An exhaustive secondary research was done to collect information on the market, as well as its peer and parent markets. The next step was validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. These secondary sources include International Sports Technology Association, Ontario Rifle Association (ORA), British Sporting Rifle Club, National Rifle Association of America press releases, and financials of companies; white papers; and certified publications and articles from recognized authors, directories, and databases.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources from the supply side include industry experts such as CEOs, VPs, marketing directors, technology and innovation directors, and related executives from key companies and organizations operating in the sports optic market. After complete market engineering (including calculations regarding market statistics, market breakdown, market size estimations, market forecasting, and data triangulation), extensive primary research has been conducted to gather information, as well as verify and validate the critical numbers arrived at.

Sports Optic Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the sports optic market and other dependent submarkets listed in this report.

  • Key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size from the estimation process explained above, the overall market has been split into several segments and subsegments. To complete the overall market engineering process and arrive at exact statistics for all segments and subsegments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data have been triangulated by studying various factors and trends identified from both demand and supply sides, in consumer electronics, enterprise & industrial, and healthcare. Along with this, the market size has been validated using both top-down and bottom-up approaches.

The following are the major objectives of the study.

  • To describe and forecast the overall sports optics market, in terms of value, segmented on the basis of products and games where sports optic products are used.
  • To forecast the market size for various segments, by region—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the sports optics market
  • To provide sports optics value chain analysis
  • To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the overall sports optics market for stakeholders by identifying high-growth segments
  • To profile key players and comprehensively analyze their market ranking in terms of revenues and core competencies2 and provide details of the competitive landscape for the sports optics market leaders
  • To analyze growth strategies such as contracts, mergers and acquisitions, product launches and developments, and research and development (R&D) in the overall sports optics market

Scope of the Report


Report Metric

Details

Market size available for years

2016–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value (USD) in billion

Segments covered

Product, games, and region

Geographies covered

North America, APAC, Europe, and RoW

Companies covered

Nikon (Japan), Carl Zeiss (Germany), Leupold & Stevens (US), Bushnell (US), Trijicon (US), Celestron (US), Burris (US), Leica Camera (Germany), Swarovski Optik (Austria), and ATN (US)

This research report categorizes the sports optic market based on product, games, and region.

By Products

  • Telescopes
  • Binoculars
  • Rifle scopes
  • Rangefinder

By Games

  • Shooting Sports
  • Golf
  • Water Sport
  • Wheel Sport
  • Snow Sport
  • Horse Racing
  • Others (Cricket, Basketball, Volleyball, Football, Hockey, Soccer, And Baseball)

By Geography

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Available Customizations

Based on the given market data, MarketsandMarkets offers customizations in the reports as per clients’ specific requirements. The available customization options are as follows:

Detailed analysis and profiling of additional market players (up to 5)

Geographic Analysis

Report Code
SE 7002
Published ON
Mar, 2019
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