AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Binoculars Market 2019-2023 | 5% CAGR Projection Through 2023 | Technavio

December 18, 2019 GMT
Global Binoculars Market 2019-2023 | 5% CAGR Projection Through 2023 | Technavio
Global Binoculars Market 2019-2023 | 5% CAGR Projection Through 2023 | Technavio

LONDON--(BUSINESS WIRE)--Dec 18, 2019--

The global binoculars market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191218005458/en/

Technavio has announced its latest market research report titled global binoculars market 2019-2023. (Graphic: Business Wire)

Factors such as urbanization, hectic lifestyles, and rising health consciousness have led to the growth of adventure tourism. In addition, the increasing consumer interest to explore nature and participate in outdoor adventure travel have significantly contributed to the demand for binoculars. Market players are introducing advanced features such as phase-corrected prism, waterproof, fog-proof, and rugged armor to make their products durable for outdoor activities such as hunting, camping, and wildlife safari. The rise in the popularity of outdoor recreational activities is one of the key factors driving the growth of the global binoculars market.

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR30269

As per Technavio, the increased demand for multifunctional binoculars will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Binoculars Market: Increased Demand for Multifunctional Binoculars

The growing consumer demand for multifunctional products is encouraging vendors to develop innovative models in terms of functionality, convenience, and quality. Many vendors are introducing multi-functional binoculars that feature an integrated LCD display that provides information about GPS coordinates, elevation, and compass direction, to help in calculating the distance and size of objects. Vendors are introducing binoculars featuring a full HD camera, E-compass, gyroscope, and Wi-Fi connectivity to enable consumers to readily connect the binocular to smartphones and tablets. The development of such multifunctional binoculars is expected to boost the growth of the market during the forecast period.

“Growing tourism industry and rising popularity of bird watching as a citizen science will further boost market growth during the forecast period,” says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio’s SUBSCRIPTION platform

Global Binoculars Market: Segmentation Analysis

This market report segments the global binoculars market by application (military, wildlife observation and hunting, astronomy, and others), type (Roof prism binoculars, Porro prism binoculars and Galilean binoculars), and geography (Americas, APAC, and EMEA).

The Americas region led the market in 2018, followed by APAC and EMEA respectively. During the forecast period, the Americas region is expected to maintain its dominance over the market. This is due to several factors such as increasing investments in the military sector, the growing tourism industry, and the presence of wild and exotic animals in numerous parts of this region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.

Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation

Customer Landscape

Geographical Segmentation

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendor Analysis

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191218005458/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:https://www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: FASHION RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 12/18/2019 12:30 PM/DISC: 12/18/2019 12:31 PM

http://www.businesswire.com/news/home/20191218005458/en