Digital Binoculars Market Research Report - Global Industry Forecast To 2027

Digital Binoculars Market Research Report: By Magnification (>6x, 6x–8x, <8x), Stabilization (Image Stabilized, Standard), Technology (Thermal, Night Vision, Laser, Digital Storage), Application (Military, Astronomy, Sports) - Industry Forecast to 2027

ID: MRFR/SEM/6197-HCR | February, 2021 | Region : Global

Market Synopsis


Global digital binoculars market is expected to grow from USD 778.37 million in 2018 to USD 1,067.22 million by 2024, at a CAGR of 5.66%, during the forecast period.


The global digital binoculars market has been segmented based on magnification, stabilization, technology, application, and region.


By magnification, the market has been segmented into less than 6x, 6x–8x, and 8x and above. Digital binoculars with magnification in the range of 6x–8x is expected to dominate the market during the forecast period owing to their diverse end-use applications that require high steady viewing capabilities. The segment is expected to register the highest CAGR during the forecast period.


By stabilization, the market has been segregated into image stabilized and standard. The standard segment is estimated to dominate the market in 2018. However, the image stablized segment is expected to register the highest CAGR during the forecast period owing to improved stability in different conditions and superior power efficiency and battery life.


By technology, the market has been segmented into thermal, night vision, laser rangefinder, digital storage, and others. The night vision segment is expected to register the highest CAGR during the forecast period owing to their growing adoption in military and paramilitary applications for surveillance purpose. However, the laser rangefinder segment is expected to dominate the market during the forecast period.


By application, the market has been segmented into military, astronomy, sports, hunting and shooting, and others. The military segment is expected to dominate the digital binoculars market during the forecast period owing to the recurring demand for technologically advanced binoculars. The security and military end-users from both developed and developing nations are investing in upgrades and refurbishment of their existing stock.


The key players profiled in the digital binoculars market research report are American Technologies Network Corporation (US), Barska (US), Beretta Holding S.p.A. (Steiner) (Italy), Vivitar Corporation (US), X-Stand Treestands (US), FLIR Systems, Inc. (US), Ricoh Imaging Americas Corporation (US), GordVE (US), Bushnell Corporation (US), and Nikon Corporation (Japan).


The players of the market focus on various growth strategies such as partnerships, mergers, acquisitions, and new product development to enhance their product offerings and expand their market. For instance, in 2018, Leica Camera AG, a leading manufacturer of cameras, lenses, binoculars, rifle scopes, microscopes, and ophthalmic lenses, launched a series of rangefinding binoculars known as Geovid HD-B 3000. These binoculars are equipped with a ballistic calculator, a perger-porro prism, a multi-positioned eyecup, and a central focus wheel with right eye diopter. These binoculars have the capability to identify objects up to 2.7 kilometers away.


Digital binoculars Market


Digital Binoculars Market


Source: MRFR Analysis


Segmentation


By magnification, the market has been segregated into less than 6x, 6x–8x, and 8x and above.


By stabilization, the market has been segmented into image stabilized and standard.


By technology, the market has been segmented into thermal, night vision, laser rangefinder, digital storage, and others


By application, the market has been segmented into military, astronomy, sports, hunting and shooting, and others.


By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.


Regional Analysis


The global market for digital binoculars market is estimated to grow at a significant rate during the forecast period from 2019 to 2024. The geographical analysis of the digital binoculars market has been done for North America, Europe, Asia-Pacific, and the rest of the world. 


Asia-Pacific is expected to register the highest CAGR in the digital binoculars market during the forecast period owing to increasing disposable income of consumers in this geography with the ever-increasing urban population. These trends have largely impacted the lifestyle of consumers in Asia-Pacific leading to growing investments in gadgets and related accessories to indulge in various outdoor activities such as bird watching. Furthermore, increasing spending from the defense industry is expected to propel the demand for digital binoculars.


North America is expected to dominate the digital binoculars market from 2018 to 2024 during the forecast period as the end-users in this region due to increasing awareness among consumers and the ability of active market players to invest in the latest technology upgrades. The companies operating in the region are constantly reinventing and rebranding the existing products to improve quality and innovation in design. Furthermore, easy availability of proficient technical expertise is also expected to drive the market for digital binoculars in the region.


Competitive Analysis


The key players have adopted partnerships and new product development as a part of their organic growth strategy to further strengthen their market position. For instance, in 2018, NexOptic Technology Corp., a company that deals with optical and lens technologies, unveiled a digital binocular—DoubleTake—at the Las Vegas Consumer Electronic Show, 2018. These binoculars are lightweight and made using the company’s patented technology—Blade Optics. The end-users for these binoculars are outdoor enthusiasts such as boaters, birders, hikers, and hunters; and other activities such as watching sports events and leisure activities.


Key players


The prominent players in the digital binoculars market are American Technologies Network Corporation (US), Barska (US), Beretta Holding S.p.A. (Steiner) (Italy), Vivitar Corporation (US), X-Stand Treestands (US), FLIR Systems, Inc. (US), Ricoh Imaging Americas Corporation (US), GordVE (US), Bushnell Corporation (US), Nikon Corporation (Japan), Canon Inc. (Japan), EONCORE (US), SGODDE (US), NexOptic Technology Corp. (Canada).


Intended Audience



  • Binoculars manufacturers

  • Raw material suppliers

  • Research institutes

  • Market research and consulting firms

  • Technology investors

  • Governments and financial institutions

  • Analysts and strategic business planners

TABLE OF CONTENTS

1 Executive Summary

1.1 Market Attractiveness Analysis

1.2 Global Digital Binoculars Market, By Magnification

1.3 Global Digital Binoculars Market, By Stabilization

1.4 Global Digital Binoculars Market, By Application

1.5 Global Digital Binoculars Market, By Technology

1.6 Global Digital Binoculars Market, By Region

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 Markets Structure

2.4 Key Buying Criteria

2.5 Macro Factor Indicator Analysis

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

3.5 List of Assumptions

4 Market Insights

5 Market Dynamics

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

5.5 Challenges

5.6 Technological Trends

5.7 Regulatory Landscape / Standards

6 Market Factor Analysis

6.1 Supply/Value Chain Analysis

6.1.1 R&D

6.1.2 Manufacturing

6.1.3 Distribution & Sales

6.1.4 Post-Sales Monitoring

6.2 Porter’s Five Forces Model

6.2.1 Threat of New Entrants

6.2.2 Bargaining Power of Suppliers

6.2.3 Bargaining Power of Buyers

6.2.4 Threat of Substitutes

6.2.5 Intensity of Rivalry

7. Global Digital Binoculars Market, By Magnification

7.1 Introduction

7.2 Less than 6X

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast, by Region, 2020–2027

7.3 6X–8X

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.4 8X and Above

7.4.1 Market Estimates & Forecast, 2020–2027

7.4.2 Market Estimates & Forecast, by Region, 2020–2027

8. Global Digital Binoculars Market, By Stabilization

8.1 Introduction

8.2 Image Stabilized Binoculars

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast, by Region, 2020–2027

8.3 Standard Binoculars

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast, by Region, 2020–2027

9. Global Digital Binoculars Market, By Technology

9.1 Introduction

9.2 Thermal

9.2.1 Market Estimates & Forecast, 2020–2027

9.2.2 Market Estimates & Forecast, by Region, 2020–2027

9.3 Night Vision

9.3.1 Market Estimates & Forecast, 2020–2027

9.3.2 Market Estimates & Forecast, by Region, 2020–2027

9.4 Laser Rangefinder

9.4.1 Market Estimates & Forecast, 2020–2027

9.4.2 Market Estimates & Forecast, by Region, 2020–2027

9.5 Digital Storage

9.5.1 Market Estimates & Forecast, 2020–2027

9.5.2 Market Estimates & Forecast, by Region, 2020–2027

9.6 Others

9.6.1 Market Estimates & Forecast, 2020–2027

9.6.2 Market Estimates & Forecast, by Region, 2020–2027

10. Global Digital Binoculars Market, By Application

10.1 Introduction

10.2 Military

10.2.1 Market Estimates & Forecast, 2020–2027

10.2.2 Market Estimates & Forecast, by Region, 2020–2027

10.3 Astronomy

10.3.1 Market Estimates & Forecast, 2020–2027

10.3.2 Market Estimates & Forecast, by Region, 2020–2027

10.4 Sports

10.4.1 Market Estimates & Forecast, 2020–2027

10.4.2 Market Estimates & Forecast, by Region, 2020–2027

10.5 Hunting and Shooting

10.5.1 Market Estimates & Forecast, 2020–2027

10.5.2 Market Estimates & Forecast, by Region, 2020–2027

10.6 Others

10.6.1 Market Estimates & Forecast, 2020–2027

10.6.2 Market Estimates & Forecast, by Region, 2020–2027

11. Global Digital Binoculars Market, By Region

11.1 Overview

11.2 North America

11.2.1 Market Estimates & Forecast, by Country, 2019–2027

11.2.2 Market Estimates & Forecast, by Magnification, 2019–2027

11.2.3 Market Estimates & Forecast, By Application, 2019–2027

11.2.4 Market Estimates & Forecast, By Stabilization, 2019–2027

11.2.5 Market Estimates & Forecast, By Technology, 2019–2027

11.2.6 US

11.2.6.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.2.6.2 Market Estimates & Forecast, By Application, 2019–2027

11.2.6.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.2.6.4 Market Estimates & Forecast, By Technology, 2019–2027

11.2.7 Canada

11.2.7.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.2.7.2 Market Estimates & Forecast, By Application, 2019–2027

11.2.7.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.2.7.4 Market Estimates & Forecast, By Technology, 2019–2027

11.2.8 Mexico

11.2.8.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.2.8.2 Market Estimates & Forecast, By Application, 2019–2027

11.2.8.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.2.8.4 Market Estimates & Forecast, By Technology, 2019–2027

11.3 Europe

11.3.1 Market Estimates & Forecast, by Country, 2019–2027

11.3.2 Market Estimates & Forecast, by Magnification, 2019–2027

11.3.3 Market Estimates & Forecast, By Application, 2019–2027

11.3.4 Market Estimates & Forecast, By Stabilization, 2019–2027

11.3.5 Market Estimates & Forecast, By Technology, 2019–2027

11.3.6 UK

11.3.6.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.3.6.2 Market Estimates & Forecast, By Application, 2019–2027

11.3.6.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.3.6.4 Market Estimates & Forecast, By Technology, 2019–2027

11.3.7 Germany

11.3.7.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.3.7.2 Market Estimates & Forecast, By Application, 2019–2027

11.3.7.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.3.7.4 Market Estimates & Forecast, By Technology, 2019–2027

11.3.8 France

11.3.8.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.3.8.2 Market Estimates & Forecast, By Application, 2019–2027

11.3.8.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.3.8.4 Market Estimates & Forecast, By Technology, 2019–2027

11.3.9 Rest of Europe

11.3.9.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.3.9.2 Market Estimates & Forecast, By Application, 2019–2027

11.3.9.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.3.9.4 Market Estimates & Forecast, By Technology, 2019–2027

11.4 Asia-Pacific

11.4.1 Market Estimates & Forecast, by Country, 2019–2027

11.4.2 Market Estimates & Forecast, by Magnification, 2019–2027

11.4.3 Market Estimates & Forecast, By Application, 2019–2027

11.4.4 Market Estimates & Forecast, By Stabilization, 2019–2027

11.4.5 Market Estimates & Forecast, By Technology, 2019–2027

11.4.6 China

11.4.6.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.4.6.2 Market Estimates & Forecast, By Application, 2019–2027

11.4.6.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.4.6.4 Market Estimates & Forecast, By Technology, 2019–2027

11.4.7 Japan

11.4.7.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.4.7.2 Market Estimates & Forecast, By Application, 2019–2027

11.4.7.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.4.7.4 Market Estimates & Forecast, By Technology, 2019–2027

11.4.8 India

11.4.8.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.4.8.2 Market Estimates & Forecast, By Application, 2019–2027

11.4.8.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.4.8.4 Market Estimates & Forecast, By Technology, 2019–2027

11.4.9 Rest of Asia-Pacific

11.4.9.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.4.9.2 Market Estimates & Forecast, By Application, 2019–2027

11.4.9.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.4.9.4 Market Estimates & Forecast, By Technology, 2019–2027

11.5 Rest of the World

11.5.1 Market Estimates & Forecast, by Country, 2019–2027

11.5.2 Market Estimates & Forecast, by Magnification, 2019–2027

11.5.3 Market Estimates & Forecast, By Application, 2019–2027

11.5.4 Market Estimates & Forecast, By Stabilization, 2019–2027

11.5.5 Market Estimates & Forecast, By Technology, 2019–2027

11.5.6 South America

11.5.6.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.5.6.2 Market Estimates & Forecast, By Application, 2019–2027

11.5.6.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.5.6.4 Market Estimates & Forecast, By Technology, 2019–2027

11.5.7 Middle East & Africa

11.5.7.1 Market Estimates & Forecast, by Magnification, 2019–2027

11.5.7.2 Market Estimates & Forecast, By Application, 2019–2027

11.5.7.3 Market Estimates & Forecast, By Stabilization, 2019–2027

11.5.7.4 Market Estimates & Forecast, By Technology, 2019–2027

12 Company Landscape

12.1 Competitive Overview

12.2 Competitor Dashboard

12.3 Major Growth Strategy in the Global Digital Binoculars Market

12.4 Competitive Benchmarking

12.5 Key Developments & Growth Strategies

12.5.1 New Product Launch/Service Deployment

12.5.2 Merger & Acquisition

12.5.3 Joint Ventures

13 Company Profiles

13.1 American Technologies Network Corporation

13.1.1 Company Overview

13.1.2 Financial Overview

13.1.3 Product Offerings

13.1.4 Key Development

13.1.5 SWOT Analysis

13.1.6 Key Strategy

13.2 Barska

13.2.1 Company Overview

13.2.2 Financial Overview

13.2.3 Product Offerings

13.2.4 Key Development

13.2.5 SWOT Analysis

13.2.6 Key Strategy

13.3 Beretta Holding S.p.A. (Steiner)

13.3.1 Company Overview

13.3.2 Financial Overview

13.3.3 Product Offerings

13.3.4 Key Development

13.3.5 SWOT Analysis

13.3.6 Key Strategy

13.4 Vivitar Corporation

13.4.1 Company Overview

13.4.2 Financial Overview

13.4.3 Product Offerings

13.4.4 Key Development

13.4.5 SWOT Analysis

13.4.6 Key Strategy

13.5 X-Stand Treestands

13.5.1 Company Overview

13.5.2 Financial Overview

13.5.3 Product Offerings

13.5.4 Key Development

13.5.5 SWOT Analysis

13.5.6 Key Strategy

13.6 FLIR Systems, Inc

13.6.1 Company Overview

13.6.2 Financial Overview

13.6.3 Product Offerings

13.6.4 Key Development

13.6.5 SWOT Analysis

13.6.6 Key Strategy

13.7 Ricoh (Pentax)

13.7.1 Company Overview

13.7.2 Financial Overview

13.7.3 Product Offerings

13.7.4 Key Development

13.7.5 SWOT Analysis

13.7.6 Key Strategy

13.8 GordVE

13.8.1 Company Overview

13.8.2 Financial Overview

13.8.3 Product Offerings

13.8.4 Key Development

13.8.5 SWOT Analysis

13.8.6 Key Strategy

13.9 Bushnell

13.9.1 Company Overview

13.9.2 Financial Overview

13.9.3 Product Offerings

13.9.4 Key Development

13.9.5 SWOT Analysis

13.9.6 Key Strategy

13.10 Nikon Corporation

13.10.1 Company Overview

13.10.2 Financial Overview

13.10.3 Product Offerings

13.10.4 Key Development

13.10.5 SWOT Analysis

13.10.6 Key Strategy

13.11 Canon Inc

13.11.1 Company Overview

13.11.2 Financial Overview

13.11.3 Product Offerings

13.11.4 Key Development

13.11.5 SWOT Analysis

13.11.6 Key Strategy

13.12 EONCORE

13.12.1 Company Overview

13.12.2 Financial Overview

13.12.3 Product Offerings

13.12.4 Key Development

13.12.5 SWOT Analysis

13.12.6 Key Strategy

13.13 SGODDE

13.13.1 Company Overview

13.13.2 Financial Overview

13.13.3 Product Offerings

13.13.4 Key Development

13.13.5 SWOT Analysis

13.13.6 Key Strategy

13.14 NexOptic Technology Corp

13.14.1 Company Overview

13.14.2 Financial Overview

13.14.3 Product Offerings

13.14.4 Key Development

13.14.5 SWOT Analysis

13.14.6 Key Strategy

** Note: Details on financial overview, SWOT analysis, and key strategies might not be captured in case of unlisted companies as the financial details of companies are not disclosed due to their private ownership and unavailability of financial data on public domain or any other reliable source.

14 Industry Insights

14.1 Technology Impact Analysis

15 Appendix

15.1 List of Abbreviations


LIST OF TABLES

Table 1 Global Digital Binoculars Market, by Region, 2020–2027

Table 2 North America: Digital Binoculars Market, by Country, 2020–2027

Table 3 Europe: Digital Binoculars Market, by Country, 2020–2027

Table 4 Asia-Pacific: Digital Binoculars Market, by Country, 2020–2027

Table 5 Middle East & Africa: Digital Binoculars Market, by Country, 2020–2027

Table 6 South America: Digital Binoculars Market, by Country, 2020–2027

Table 7 Global Digital Binoculars Market, by Region, 2020–2027

Table 8 North America: Digital Binoculars Market, by Country, 2020–2027

Table 9 Europe: Digital Binoculars Market, by Country, 2020–2027

Table10 Asia-Pacific: Digital Binoculars Market, by Country, 2020–2027

Table11 Middle East & Africa: Digital Binoculars Market, by Country, 2020–2027

Table12 South America: Digital Binoculars Market, by Country, 2020–2027

Table13 Global Digital Binoculars Stabilization Market, by Region, 2020–2027

Table14 North America: Digital Binoculars Stabilization Market, by Country, 2020–2027

Table15 Europe: Digital Binoculars Stabilization Market, by Country, 2020–2027

Table16 Asia-Pacific: Digital Binoculars Stabilization Market, by Country, 2020–2027

Table17 Middle East & Africa: Digital Binoculars Stabilization Market, by Country, 2020–2027

Table18 South America: Digital Binoculars Stabilization Market, by Country, 2020–2027

Table19 Global Digital Binoculars Application Market, by Region, 2020–2027

Table20 North America: Digital Binoculars Application Market, by Country, 2020–2027

Table21 Europe: Digital Binoculars Application Market, by Country, 2020–2027

Table22 Asia-Pacific: Digital Binoculars Application Market, by Country, 2020–2027

Table23 Middle East & Africa: Digital Binoculars Application Market, by Country, 2020–2027

Table24 South America: Digital Binoculars Application Market, by Country, 2020–2027

Table25 Global Magnification Market, by Region, 2020–2027

Table26 Global Stabilization Market, by Region, 2020–2027

Table27 Global Application Market, by Region, 2020–2027

Table28 North America: Digital Binoculars Market, by Country

Table29 North America: Digital Binoculars Market, by Magnification

Table30 North America: Digital Binoculars Market, by Stabilization

Table31 North America: Digital Binoculars Market, by Application

Table32 Europe: Digital Binoculars Market, by Country

Table33 Europe: Digital Binoculars Market, by Magnification

Table34 Europe: Digital Binoculars Market, by Stabilization

Table 35 Europe: Digital Binoculars Market, by Application

Table36 Asia-Pacific: Digital Binoculars Market, by Country

Table37 Asia-Pacific: Digital Binoculars Market, by Magnification

Table38 Asia-Pacific: Digital Binoculars Market, by Stabilization

Table 39 Asia-Pacific: Digital Binoculars Market, by Application

Table40 Middle East & Africa: Digital Binoculars Market, by Country

Table41 Middle East & Africa: Digital Binoculars Market, by Magnification

Table42 Middle East & Africa: Digital Binoculars Market, by Stabilization

Table43 Middle East & Africa: Digital Binoculars Market, by Application

Table44 South America: Digital Binoculars Market, by Country

Table45 South America: Digital Binoculars Market, by Magnification

Table46 South America: Digital Binoculars Market, by Stabilization

Table47 South America: Digital Binoculars Market, by Application

LIST OF FIGURES

FIGURE 1 Global Digital Binoculars Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of the Global Digital Binoculars Market

FIGURE 4 Value Chain of the Global Digital Binoculars Market

FIGURE 5 Share of the Global Digital Binoculars Market in 2020, by Country (in %)

FIGURE 6 Global Digital Binoculars Market, 2020–2027

FIGURE 7 Sub-segments of Magnification

FIGURE 8 Global Digital Binoculars Market Size, by Magnification, 2020

FIGURE 9 Share of the Global Digital Binoculars Market, by Magnification, 2020–2027

FIGURE 10 Global Digital Binoculars Market Size, by Stabilization, 2020

FIGURE 11 Share of the Global Digital Binoculars Market, by Stabilization, 2020–2027

FIGURE 12 Global Digital Binoculars Market Size, by Application, 2020–2027

FIGURE 13 Share of the Global Digital Binoculars Market, by Application, 2020–2027


Digital Binoculars Market