Published on : Dec 16, 2019
ResearchMoz.us has announced the addition of a report, titled “Global Sport Optics Device Market Insights, Forecast to 2025”. The report on the sport optics device market offers an elaborate assessment of key growth trends and drivers, recent developments in the market, the competitive ecosystem, and opportunity and challenges analysis. Segments in the report are created by product type and application. The forecast period of the report is 2019 to 2025. Base year is 2018.
It is predicted that over the forecast period the global sport optics device market will see a decent CAGR (Compound Annual Growth Rate). And, this steady pace will allow it to create some very lucrative opportunities for the players. Moreover, it will ensure that market sees an increase in its worth.
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There are a number of factors that the global sport optics device market. Some of these include a massive fan engagement seen across the numerous sports. This, in turn is due to the rise of internet and presence of TVs which have increased awareness and kindled interest. Besides, there is a marked shift in that people no longer want to sit at home and watch sports from that comfort zone. They like to go out for recreational purpose and enjoy the adrenaline rush at stadiums.
And, furthermore, this shift is supported by a rise in disposable incomes worldwide. But, this is particularly the case for developing economies where the improvement in standard of living is almost palpable. And, this it does not come as a surprise that clarity, payers pay particular attention to improving experience for customers by investing in improving sharpness, portability and magnification.
Also, the rising popularity of water sports and snow sports is contributing to growth in the global sport optics device market by creating demand for telescopes in general and handheld telescopes in particular. Region-wise this growth for .this category of sports will be highest in the Asia Pacific (APAC) region
It is pertinent to note here that global sport optics device market is fragmented and prominent names in the market landscape include 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), among others.
Out of these, in 2018, Nikon lead the charts and currently has its eye on improving research and development in the market. The focus might be a result of the company’s efforts to improve global standing among peers.
Also, in 2019, Burris joined hands with USA Shooting to become the official optics provider of America’s Shooting Team. This will give a massive boost to Burris’s image and marketing efforts.
Earlier in 2018, Trijicon took over AmeriGlo to enhance its product portfolio and increase it capacity of production. Thus, through the acquisition, it improves its prospects for the forecast period by now in control of more market share.
It might me pertinent to note here that product launches have also been quite crucial in the scenario. For instance, in September 2017, ZEISS came up with 2 spotting cope variants. They are called ZEISS Harpia 22-65x85 and ZEISS Harpia 23-70x95 and are quite popular with the users.
Region-wise, while traditionally, the Asia Pacific (APAC) region has held a smaller share, it is set to see that change over the forecast period, primarily on account of many major sports events being held in the region, and, adding to this growth factor is the influence of rising disposable incomes. One very significant event to be held soon is the World Masters Games in 2021.