Global Sports Optic Market (2021-2026) by Product, Price Range, Distribution Channel, Games, and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Sports Optic Market is estimated to be USD 2.5 Bn in 2021 and is expected to reach USD 2.9 Bn by 2026, growing at a CAGR of 2.98%

Market Dynamics

Optics is the study of the characteristics and behavior of light, its interaction with matter, and the building of optical equipment. Sports optics are used to magnify distant objects with more resolution and less noise, sports optics are employed. Many optics are used in hunting, water sports, and skiing. Rifle shooting, target shooting, and handgun shooting are projected to dominate the sports optic market.

Sport optics such as goggles and sunglasses are in high demand in the sports sector due to increased demand for sports accessories. The growing number of global events and media coverage encourage kids to participate in these sports. Moreover, rising disposable income is one of the main drivers of market expansion. Players' spending power drives demand for sports optics for various optic gear used in sporting events.

However, more significant initial investment, specialized material requirements, and software integration are likely to slow the growth of the sports optic market.

Market Segmentation

The Global Sports Optic Market is segmented further based on Product, Price Range, Distribution Channel, Games, and Geography.

By Product Type, the market is classified into Telescopes, Binoculars, Rifle Scopes, Rangefinders, Software, and Services.

By Price Range, the market is classified into Low, Mid, and High Low Energy.

By Distribution Channel. the market is classified into Online and Offline.

By Games, the market is classified into Shooting Sports, Golf, Water Sports, Wheel Sport, Snow Sport, Horse Racing, and Other Games.

By Geography, North America is projected to lead the market.

Recent Developments

1. Teledyne Technologies Has Acquired FLIR Systems. - 5th Feb 2021
2. Leupold & Stevens, inc. Acquired Anodize solutions. - 8th Oct 2021

Company Profiles

Some of the companies covered in this report are Athlon Optics, Burris Optics, Carson Optical, Flir Systems, Leica Camera, Primary Arms, Trijicon, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Sports Optic Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market