Global Spotting Scope Market 2017-2021

Overview of the global spotting scope market

The global spotting scope market is foreseen to grow at steady rate and will post a CAGR of nearly 5% during the forecast period. The growing interest in the wildlife photography and bird watching is one of the driving factors for the market’s growth. Seen as one of the popular hobbies globally, numerous government and non-government organizations have recognized the work done by wildlife enthusiasts. Moreover, with technical knowledge and time-management skills, improved cameras and associated equipment like spotting scope are also needed. In addition, manufacturers have introduced many advancements in the spotting scope equipment and have also launched adapters to integrate their smartphones. Furthermore, bird-watching and wildlife photography are attracting wide popularity due to its remuneration, which, in turn, is expected to augment the development of new products and drive the growth of the market. 

In terms of geography, the Americas accounted for the major share in the global spotting scope market during 2016 and will continue to dominate during the forecasted period. The growth in investments, and increased adoption interests in educational institutions as a part of co-curricular activities contribute to the growth of the market in the Americas.

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Competitive analysis and key vendors

The global spotting scope market consists of several small and mid-sized vendors and is largely competitive. The widening competition and developments in technology are the persuasive factors for the vendors to focus on more than geographical expansion. Substantial investments in the planning, designing, and improvement in spotting scopes have been evident in the market. Moreover, international expansion strategies are planned by the defense suppliers to provide spotting scopes in the civilian segment as well. 

Key vendors in the market are:

• Celestron
• KOWA Optimed
• Leupold Optics
• Nikon
• SWAROVSKI OPTIK

Other prominent vendors include Hawke Optics, Konuspro, US Optics, and Vortex Optics.

Segmentation by product-type and analysis of the spotting scope market

• Global straight body spotting scope market
• Global angled body spotting scope market

The angled-body spotting scope segment accounted for the majority of market shares by product type during 2016. The rising adoption by numerous military agencies for surveillance applications and bird-watching enthusiasts will drive the segment’s growth.

Segmentation by end-user and analysis of the spotting scope market

• Global spotting scope market for civilian applications
• Global spotting scope market for defense and law enforcement applications

As per the Technavio’s market research report, the global spotting scope market for civilian applications dominated the market by end-user in 2016. The segment is expected to continue the domination over the next four years due to rising interest in hunting and bird watching and the easy availability of spotting scopes, mainly through online shopping channels.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global spotting scope market?
• What are the key market trends impacting the global spotting scope market?
• What are the challenges to market growth?
• Who are the key vendors in the global spotting scope market?
• What are the market opportunities and threats faced by the vendors in the global spotting scope market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global spotting scope market?

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