Market Size of Sports Optic Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 2.94 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sports Optic Market Analysis
The Sports Optic Market size is estimated at USD 2.16 billion in 2023 and is expected to reach USD 2.50 billion by 2028, growing at a CAGR of 2.94% during the forecast period (2023-2028).
Investments by Governments globally to offer top-notch facilities and training to athletes competing in numerous sports disciplines at various levels are anticipated to strengthen the market further. Advances in astronomical projects require gadgets to view and record observations with perfection. Astronomical telescopes enable us to view distant objects accurately, which a human eye can never do.
- August 2022 - NASA is constantly working on new research projects to explore the universe. A custom-built test chamber for a new NASA space telescope is designed to help ready the spacecraft for launch in 2025. The telescope is designed to create a unique 3D map of the entire sky. The survey will map 100 million stars in the Milky Way and out galaxies, star-forming regions, and other cosmic phenomena.
- February 2022 - US-based cycling eyewear, Tifosi Optics, launched Rail, the sport sunglass. The product is designed especially for cyclists. However, they are also helpful for other long-distance sports. The rimless design of this eyewear breaks that barrier and lowers the weight. The frame's rim can produce an airflow-restricting seal against a face.
- Covid-19 caused worldwide turmoil in the sports industry. Major sporting events at all levels were postponed or canceled. However, post-pandemic things normalized, and a series of sports events were organized. The sports gear companies came back with innovation and technology to secure their businesses and signed deals to recover revenue loss. For instance, Aussie Divers Phuket collaborated with Kraken Underwater Sports in Thailand.
