Global Sports Optics Market Business Strategies And Opportunities With Key Players Analysis 2019-2026
The sports optics products are used in various types of sports activities. There are several types of sports optics such as binoculars, telescope, monoculars, fieldscopes, rangefinders and other products. There has been a vast change in the evolution and technological advancement of such sports optics products. Binoculars are the two telescopes which are attached side by side and aligned for focusing in the same direction. It is an optical instrument comprising of lens for each eye and is used to view distant object. They are also referred as field glasses that offer a magnified view of the distant objects. It took around 5,000 years for shaping the glass into a lens for first telescope. Galileo Galilei was presented to the astronomy using telescopes. It was after 300 years of the launch of telescopes the binoculars were finally evolved. Now days the binoculars are widely used in the sports activities. The numbers of people actively participating in the camping and hiking activities are increasing owing to which the demands for such type of sport optics products are increasing.
Global sports optics market is projected to register a substantial CAGR of 6.7% in the forecast period of 2019 to 2026.
Segmentation: Global Sports Optics Market
Global sports optics market is segmented into four notable segments which are on the basis of products, games, price range and distribution channel.
- On the basis of products, the market is segmented into binoculars/ monoculars, rangefinders, telescopes, fieldscopes, riflescopes and others
- On the basis of games, the market is segmented into shooting sports, golf, water sports, wheel sports, snow sports, horse racing
- On the basis of price range, the market is segmented into economic, mid-range and high range
- On the basis of distribution channel, the market is segmented into online and offline
Competitive Analysis: Global Sports Optics Market
Some of the major players operating in global sports optics market are Nikon Corporation, ZEISS International, U.S. OPTICS, LEUPOLD & STEVENS, INC., Trijicon, Inc., VISTA OUTDOOR OPERATIONS LLC., BERETA HOLDING S.A., Celestron, LLC., Leica Camera AG, SWAROVSKI GROUP, ATN, Schmidt & Bender GmbH & Co. KG, Vortex Optics, Nightforce Optics, Inc., Athlon, Meopta – optika, s.r.o., FLIR Systems, Inc. and L-3, EOTech Inc. among others.
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Recent Developments
- In May 2019, Nikon Corporation introduced PROSTAFF 1000 Laser Rangefinder. The product is compact and has a lightweight body and also offers pocket-size design. It also provides higher quality 6x monocular along with multilayer coating for clear and bright images. This would help in the expansion of the sports optics offerings by the company.
- In April 2019, VISTA OUTDOOR OPERATIONS LLC. brand Bushnell introduced new models of laser rangefinders such as new Prime 1700 and 1300, Engage 1700 and 1300 and Nitro 1800 rangefinders. These new rangefinders feature an enhanced and ergonomic design and helps in delivering better light transmission in the low light conditions. This would help the company to enhance their product portfolio.
- In September 2016, Celestron, LLC. unveiled innovative new telescopes, sport optics, EQ mounts and many other products for Photokina 2016. This would help the company to expand their product offerings.
Research Methodology: Global Sports Optics Market
Primary Respondents:
Key Opinion Leaders (KOL’s): Key Opinion Leaders: Researchers, Manufacturers, Industrialists, Distributors and Suppliers.
Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.