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The spotting scope market size is estimated to grow by USD 227.53 million at a CAGR of 4.86% between 2023 and 2028. The market size is forecast to increase. The growth of the market depends on several factors such as the rising interest in outdoor activities, the increase in travel and tourism, and the growing e-commerce and online retail.
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
Birdwatching and wildlife observation are the fastest-growing outdoor activities across the globe. Many people are drawn to the natural world and seek high-quality optics, to enhance their experiences. The market benefits from this trend as enthusiasts require these scopes to get clear, close-up views of birds and wildlife. A wide range of outdoor sports, such as mountain climbing, trekking, and water-based activities, require navigation, safety, and the enjoyment of natural surroundings.
Besides, adventure tourists use spotting scopes for wildlife observation and scenic viewing. The travel and tourism industry, including the burgeoning ecotourism sector, encourages outdoor activities and nature-based tourism. Visitors often use to observe wildlife in natural habitats, generating demand for these products. Hence, the rising interest in outdoor activities will drive the market growth and trends during the forecast period.
Market players are focusing on innovating technologies to earn the attention of a raised number of customers and raise the customer base and demand for their products. Some market players have introduced ergonomic designs, which contributed to aesthetic factors and provided the reliable performance of their products in the past five years. The market is slowly synchronizing with the dynamic requirements of customers, which encourages players to innovate their products consistently.
Moreover, the use of upgraded technology to manufacture and design products is helping market players introduce innovative concepts that focus on functionality, convenience, and quality. Therefore, the demand for multifunctional products is expected to rise among customers as such products provide increased convenience and enhanced results. Hence, such market trends will accelerate the growth during the forecast period.
Counterfeit products erode trust in prominent and reputable brands. Customers who purchase counterfeit products may have negative experiences and associate these experiences with real brands. Counterfeit products scopes may not meet safety and quality measures. The presence of counterfeit products can create market confusion, making it challenging for consumers to distinguish between genuine and fake products.
Moreover, the presence of fake products in the market can introduce risks to the supply chain. Honest manufacturers and retailers may inadvertently buy counterfeit products from unscrupulous suppliers. Hence, the presence of counterfeit scopes will impede the growth of the market in focus during the forecast period.
The civil segment will account for a major share of the market's growth during the forecast period.? The use of spotting scopes has grown over the past few years, from being used merely for spotting to areas such as filming. Some wildlife fans use spotting scopes as long lenses for their cameras while filming wildlife. As camera lenses are much more costly, the use of comparatively less pricey spotting scopes through external adapters on digital single-lens reflex (DSLR) or phone cameras has gained acceptance among hobbyist photographers.
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The civil segment was valued at USD 453.37 million in 2018. Birdwatching and hunting activities have gained popularity in numerous countries globally. This has also led many traditional defense suppliers to penetrate the consumer market. Technological advances have also been a major trend in the market, with players investing greatly to develop next-generation spotting scopes that ensure superior usability for users. Hence, such factors will lead to the growth of the civilian applications segment and boost the market in focus during the forecast period.
Based on type, the market has been segmented into straight-body and angled-body spotting scope. The straight body spotting scope?segment will account for the largest share of this segment. Straight-body scopes are popular among birdwatchers. As the birds move, birdwatchers will be able to quickly find and follow them. In order to observe and study wild animals in their natural habitat, naturalists and wildlife lovers use straight binoculars. The straight-body scopes provides a clear and wide field of view, making them ideal for appreciating scenic vistas. Hikers, campers, and outdoor enthusiasts use straight body spotting scopes to observe distant landmarks or points of interest while exploring nature. Hence, these factors will drive the growth of the straight body segment and boost the growth of the market during the forecast period.
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North America is estimated to contribute 34% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. North America presents a broad range of outdoor activities, including birdwatching, wildlife observation, hunting, and stargazing. The popularity of these activities continues to drive the demand. There is a growing interest in nature conservation and wildlife observation in North America. People are increasingly looking to connect with nature, which boosts the demand for high-quality optics.
Moreover, the hunting and shooting sports industries are significant in North America. Spotting scopes are essential tools for hunters and sports shooters to spot game animals and targets. Increased military investments, growing tourism due to sporting events, and the presence of wild and exotic animals in numerous parts of North America drive the growth of the regional market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Athlon Optics, Bresser GmbH, Carl Zeiss Stiftung, Celestron Acquisition LLC, Enjo Sports Inc., Foreseen Optics Instrument Co. Ltd., Hawke Optics Ltd., Konus italia Group S.p.a., Kowa Co. Ltd., Leica Camera AG, Leupold and Stevens Inc., Meopta Optica S.R.O, Nikon Corp., Ricoh Co. Ltd., Swarovski AG, Vanguard World LLC, Vista Outdoor Inc., Vortex Optics, and Wetzlar Network
Technavio market growth analysis report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The Global Spotting Scope market thrives on diverse growth drivers, catering to various outdoor activities like bird watching, nature observations, and target shooting. Companies analyze the market scenario amidst a highly competitive and mature industry, with leading brands dominating the landscape. Spotting scopes, an essential optical device, aid in identifying distant objects, both terrestrial and celestial, functioning akin to a long-range astronomical telescope. Tripods provide stability for precise viewing. With a keen focus on market environment dynamics, vendors continue to innovate, meeting the demands of enthusiasts and professionals alike in this ever-evolving market segment.
The market forecasting report forecasts market growth by revenue at global, regional & country levels and analyzes the latest trends and growth opportunities from 2018 to 2028.
Spotting Scope Market Scope |
|
Market Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.86% |
Market Growth 2024-2028 |
USD 227.53 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.42 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 34% |
Key countries |
US, Canada, China, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Athlon Optics, Barride Optics Co. Ltd., Bresser GmbH, Carl Zeiss Stiftung, Celestron Acquisition LLC, Enjo Sports Inc., Foreseen Optics Instrument Co. Ltd., Hawke Optics Ltd., Konus italia Group S.p.a., Kowa Co. Ltd., Leica Camera AG, Leupold and Stevens Inc., Meopta Optica S.R.O, Nikon Corp., Ricoh Co. Ltd., Swarovski AG, Vanguard World LLC, Vista Outdoor Inc., Vortex Optics, and Wetzlar Network |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market growth and forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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