Global Telescope Market

Telescope Market Size, Share, Growth Analysis, By Type(Refracting telescope, Reflecting telescope, Catadioptric telescope), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20A2051 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 36 | Figures: 74

Telescope Market Dynamics

Telescope Market Driver

  • Telescopes are being increasingly used in astronomical research and other applications

Telescopes are one of the major instruments used for scientific research in astronomical institutions around the world. It helps researchers and industry experts to provide astronomical images and analyse them to generate insights. Major players in the market are incorporating advanced technologies like sensors and others to improve and offer users with various innovative features. They are also adding various features that effectively enable astronomical organizations to collect data. Therefore, with the increasing research and application in astronomy, the demand for telescopes is increasing rapidly.

Telescope Market Restraint

  • Rising cases of chromatic aberration due to involvement of large-sized lenses

Chromatic aberration produces coloured fringes of highly contrasting ages in optical systems. This is mainly due to the diffraction of light rays as they pass through the lens focusing at different points depending on their wavelength. In a telescope, there are two types of chromatic aberration, the most common being an axial chromatic aberration. Axial chromatic aberration results in blurred colours in front of and behind the focus position due to differences in the focal point of each colour. This can be seen at the edges of very bright areas of the image. This factor hampers the growth of global telescope market.

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Telescope Market size was valued at USD 1198.3 million in 2021 and is poised to grow from USD 1215.08 million in 2022 to USD 1358.02 million by 2030, growing at a CAGR of 1.4% in the forecast period (2023-2030).

telescope market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of telescope market. 'Celestron', 'Meade Instruments', 'Orion Telescopes & Binoculars', 'Sky-Watcher', 'Vixen Optics', 'Bushnell', 'Zhumell', 'Bresser', 'Konus', 'Explore Scientific', 'William Optics', 'Takahashi', 'Televue', 'GSO', 'iOptron', 'Levenhuk', 'Stellarvue', 'Pentax', 'Meopta', 'Kowa'

Telescopes are being increasingly used in astronomical research and other applications

Rapid technological advancements in the field of astronomy, especially electronics and optics, are a major trend that is fuelling the growth of telescope market across the world. Also, IoT devices connected to telescopes contributed to the rapid adoption of telescopes.

On the basis of region, telescope market is divided into North America, Europe, Asia Pacific Latin America, and MEA. telescope market in North America accounted for the largest revenue share in 2022. Consumers in this region have disposable income which enabled them to engage in costly hobbies such as astrophotography and others. This is a major factor expected to drive market growth in this region. Due to the growing interest in amateur astronomy in this area, astronomical education is also expanding, which has significantly increased the demand for telescopes there. Important market players in this region are also creating and releasing telescopes equipped with IoT features, which is encouraging consumers in this region to start using telescopes.

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Global Telescope Market

Report ID: SQMIG20A2051

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