The global binoculars market will register a CAGR of over 5% by 2023.
Vendors are making efforts to raise the customer base and demand for their products and gain the attention of a large number of customers through innovating technologies. During the first five years, several vendors introduced ergonomic designs. This provided a reliable performance of their products and contributed to aesthetic factors.
Rising popularity of outdoor recreational activities
The stressful hectic lifestyles of people is compelling them to participate in outdoor recreational activities that helps them to de-stress themselves. As result, they are engaging in leisure and outdoor activities. The growth in tourism industry will result in an increased demand for binoculars.
Rise in the use of substitute products
Some of the substitute products such as monocular are portable and light weight in comparison to binoculars. They also offer an improved viewing performance. This is one of factors hindering the market.
Completive landscape
The market appears to be fragmented with the presence of many companies. Factors such as the increasing focus on innovating technologies and rising popularity of outdoor recreational activities, will provide considerable growth opportunities to binoculars market manufacturers.
Key Players
Beretta Holding
Celestron
Nikon
Vista Outdoor Operations
Vortex Optics
Topics Covered
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
Market ecosystem
Market characteristics
Market segmentation analysis
PART 04: MARKET SIZING
Market definition
Market sizing 2018
Market size and forecast 2018-2023
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY APPLICATION
Market segmentation by application
Comparison by application
Military - Market size and forecast 2018-2023
Wildlife observation and hunting - Market size and forecast 2018-2023
Astronomy - Market size and forecast 2018-2023
Others - Market size and forecast 2018-2023
Market opportunity by application
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY TYPE
Market segmentation by type
Comparison by type
Roof prism binoculars - Market size and forecast 2018-2023
Porro prism binoculars - Market size and forecast 2018-2023
Galilean binoculars - Market size and forecast 2018-2023
Market opportunity by type
PART 09: GEOGRAPHIC LANDSCAPE
Geographic segmentation
Geographic comparison
Americas - Market size and forecast 2018-2023
APAC - Market size and forecast 2018-2023
EMEA - Market size and forecast 2018-2023
Key leading countries
Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
Increased demand for multifunctional binoculars
Growing tourism industry
Growing popularity of bird watching as a citizen science
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