Global Sports Optic Market Set for Growth, Expected to Reach $2.53 Billion by 2028
Sports Optic Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 3, 2024 /EINPresswire.com/ — The global sports optic market has shown steady growth, projected to increase from $2.08 billion in 2023 to $2.17 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.5%. This growth can be attributed to outdoor recreational activities, advancements in manufacturing processes, rising disposable income, and increased demand from wildlife observation, military, and law enforcement sectors.
Rising Outdoor Recreational Activities Drive Market Growth
The sports optic market is expected to continue its growth trajectory, reaching $2.53 billion by 2028, with a CAGR of 3.9%. Key drivers include technological integration, lightweight and compact design trends, expanding adventure tourism, rising interest in long-range shooting, and growing wildlife observation tourism.
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Key Players and Market Trends
Major players such as L3Harris Technologies Inc., Carl Zeiss AG, and Nikon Corporation are focusing on product innovation, including enhanced optical coatings and AI-assisted optics. For instance, Tifosi Optics launched Rail Sunglasses in 2022, featuring lightweight design and polycarbonate lenses for durability and comfort.
Market Segments
• Product Type: Telescopes, Binoculars, Riflescopes, Rangefinders
• Distribution Channel: Online, Offline
• Applications: Golf, Wheel Sport, Snow Sport, Water Sport, Shooting Sports, Horse Racing, Other Applications
Regional Insights: Asia-Pacific Leading Growth
North America dominated the sports optic market in 2023, while Asia-Pacific is anticipated to be the fastest-growing region during the forecast period. The report provides comprehensive regional dynamics and growth opportunities.
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Sports Optic Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Sports Optic Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on sports optic market size, sports optic market drivers and trends, sports optic market major players, competitors’ revenues, market positioning, and market growth across geographies. The sports optic market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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