Market Highlights

The 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. Factors such as night vision, storage capacity, and ability to manage video from smart binocular using smartphone app have contributed to the adoption of digital binoculars across the globe.

Based on magnification, the market has been segmented into less than 6x, 6x–8x, and 8x and above. The digital binoculars market share for 6x–8x segment is expected to dominate the market during the review period due to diverse end-use applications that require high steady viewing capabilities. This segment is also expected to register the highest CAGR during the forecast period.

On the basis of stabilization, the market has been segregated into image stabilized and standard. The standard segment is expected to dominate the market in 2019 whereas the image stabilized segment is expected to register the highest CAGR during the review period.

On the basis of technology, the market has been segmented into thermal, night vision, laser rangefinder, digital storage, and others. The laser rangefinder segment is expected to dominate the digital binoculars market during the forecast period. However, the night vision segment is expected to register the highest CAGR during the forecast period.

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Regional Analysis

The geographical analysis of the digital binoculars market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.

The North American market has been segmented into the US, Canada, and Mexico. The regional market is expected to account for the largest share of the global digital binoculars market during the review period. The growth of the market in North America can be attributed to the well aware end-users who increasingly invest in the latest technology upgrades. As a result, the companies operating in the region are constantly reinventing and rebranding the existing products to increase level of quality and innovation in design

In terms of market size, Europe is expected to hold the third-largest share. The European market has been divided into the UK, Germany, France, and the rest of Europe. Germany is the leading country-level market whereas the market in France is expected to register the highest growth rate during the forecast period.

The market in Asia-Pacific is expected to be the fastest-growing during the review period of 2019 to 2024. The regional market has been classified as China, Japan, India, and the rest of Asia-Pacific. Increase in disposable income coupled with the growing urban population has largely impacted the lifestyle of consumers leading to growing investments in gadgets and related accessories to pursue their hobbies such as sports and bird watching.

The rest of the world includes South America, the Middle East, and Africa. Among these, the Middle East is expected to dominate the market and register the highest CAGR during the forecast period.

Key players

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).

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