LONDON–(BUSINESS WIRE)–Technavio has been monitoring the binoculars market and it is poised to grow by USD 123.44 million during 2020-2024, progressing at a CAGR of over 3% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the binoculars market. The market growth in 2020 is likely to decrease compared to market growth in 2019.
Frequently Asked Questions:
Based on segmentation by type, which is the leading segment in the market?
The roof prism binoculars is the leading segment in the market.
What are the major trends in the market?
The increased demand for multifunctional binoculars is the major trend in the market.
At what rate is the market projected to grow?
The market is projected to grow at a CAGR of over 3% during 2020-2024.
Who are the top players in the market?
American Technologies Network Corp., Barska Optics, BERETTA HOLDING SA, Canon Inc., Celestron Acquisition LLC, FUJIFILM Holdings Corp., Guangzhou Bosma Corp., Jaxy optical instrument Co. ltd., Leupold & Stevens, Inc., and Nikon Corp.
What are the key market drivers and challenges?
The market is driven by the rise in popularity of outdoor recreational activities. However, the availability of counterfeit products will challenge the growth of the market.
How big is the North American market?
North America dominated the market with a 39% market share in 2019.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. American Technologies Network Corp., Barska Optics, BERETTA HOLDING SA, Canon Inc., Celestron Acquisition LLC, FUJIFILM Holdings Corp., Guangzhou Bosma Corp., Jaxy optical instrument Co. ltd., Leupold & Stevens, Inc., and Nikon Corp. are some of the major market participants. Although the rise in popularity of outdoor recreational activities will offer immense growth opportunities, the availability of counterfeit products is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this binoculars market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Binoculars Market 2020-2024: Segmentation
Binoculars Market is segmented as below:
- Roof Prism Binoculars
- Porro Prism Binoculars
- Galilean Binoculars
- Wildlife Observation And Hunting
- And Others
- North America
- South America
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Binoculars Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The binoculars market report covers the following areas:
- Binoculars Market Size
- Binoculars Market Trends
- Binoculars Market Industry Analysis
This study identifies the increasing use of binoculars for sporting events as one of the prime reasons driving the binocular market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Binoculars Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in binoculars market growth during the next five years
- Estimation of the binoculars market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the binoculars market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of binoculars market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Military – Market size and forecast 2019-2024
- Wildlife observation and hunting – Market size and forecast 2019-2024
- Astronomy – Market size and forecast 2019-2024
- Others – Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- Roof prism binoculars – Market size and forecast 2019-2024
- Porro prism binoculars – Market size and forecast 2019-2024
- Galilean binoculars – Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Competitive scenario
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- American Technologies Network Corp.
- Barska Optics
- BERETTA HOLDING SA
- Canon Inc.
- Celestron Acquisition LLC
- FUJIFILM Holdings Corp.
- Guangzhou Bosma Corp.
- Jaxy optical instrument Co. ltd.
- Nikon Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.