Global Binoculars Market 2017-2021
Binoculars are optical instruments, which allow the viewer to use both the eyes when viewing distant objects.
Technavio’s analysts forecast the global binoculars market to grow at a CAGR of 5.34% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global binoculars market for 2017-2021. To calculate the market size, the report considers the shipments, average selling price of binoculars, and hence calculates revenue generated from binoculars market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Binoculars Market 2017-2021
Technavio recognizes the following companies as the key players in the global binoculars market: Bushnell, Celestron, Nikon, Steiner, and Vortex Optics.
Other Prominent Vendors in the market are: Athlon Optics, Armasight, Canon, Carson Optical, Eyeskey Optics, FLIR Systems, Leupold & Stevens, Olympus, Polaris Optics, Tasco, and Vivitar.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is use of underwater binoculars. The use of underwater binoculars is increasing as there is an increase in adventure tourism. The adventure travel market was valued at around $300 billion in 2016. The increase in international tourism coupled with the minimal expenditure incurred by the travelers has increased the demand for the tourism industry.”
According to the report, one of the major drivers for this market is rising government investments for military devices. The governments of different countries are investing in next-generation products, such as rifles, mine detectors, night vision devices, to provide soldiers with improved and accurate information on the war field. These products are designed to have rapid target acquisitions in military operations. Various devices, such as goggles, binoculars, scopes, and cameras, are increasingly being used for various military operations as these devices help soldiers to target objects that are far away from the viewing point.
Further, the report states that one of the major factors hindering the growth of this market is use of large stadium screen and sports displays. The use of large video screens is popular as they help in marketing brands and game scores. Ensuring image and sound quality through television is the most common way of viewing sports worldwide. On venue, displays are gaining traction as they enhance the viewing experience of the game to the audiences in the stadium.
Bushnell, Celestron, Nikon, Steiner, Vortex Optics, Athlon Optics, Armasight, Canon, Carson Optical, Eyeskey Optics, FLIR Systems, Leupold & Stevens, Olympus, Polaris Optics, Tasco, and Vivitar.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook