Astronomical Telescope Market Trends, 2030 -Significant Investments in Development of Astronomical Research Activities Attributes to Rise in Demand
Reports and Data has recently added a new market research report titled “Astronomical Telescope Market” that offers accurate insights into the Astronomical Telescope market to help readers and clients capitalize on the emerging opportunities in the market during the forecast period. The report also includes an extensive analysis of the key drivers, restraints, opportunities, risks, limitations, and threats to impart a clear understanding of the market dynamics and growth. The report also offers region-centric data and analysis of the micro and macro-economic factors affecting the growth of the overall Astronomical Telescope market.
The Global Astronomical Telescope Market is forecasted to grow from 243.8 Thousand Units in 2021 to 497.0 Thousand Units in 2030 with a CAGR of 8.2% over the forecast period. The market is forecasted to reach USD 497.0 Million by 2030, according to a new report by Reports and Data. This can be mainly associated with the increase in economic investment on astronomical research, the national consumption capacity, and the national policies on astronomical education.
The report has been formulated through extensive primary and secondary research and in accordance with the impact of the COVID-19 pandemic on the revenue growth of the market and consumer demand. The report also provides details about the strategic initiatives taken by the major market players to cater to global consumer demand and gain a robust footing in the market.
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Further key findings from the report suggest:
- The market is segmented on the basis of product into refracting telescope, reflector telescope, and catadioptric telescope. The Reflectors Telescope held the largest volume of the market in 2020 and is forecasted to grow at a CAGR of 10.4% during the forecast period.
- These telescopes are best for exploring dimly lit deep-sky objects, like low magnitude stars, clusters, and nebulas. Moreover, unlike refracting telescopes, reflector telescopes do not suffer from chromatic aberration.
- The market is segmented on the basis of equipment into eyepieces, tripods, cameras, mount, lenses, focal reducers, and others. Others segment held the second largest share in 2020, in terms of volume.
- Tripods and mounts held the second largest share in 2020, and are forecasted to grow, in terms of shipment volume, with CAGR of 11.6% and 9.9% during the forecast period, respectively.
- Tripods are supports for telescopes. The tube needs to be place on something so people can see through it. Tripods are generally used as the height of it can be adjusted depending on the one’s preference.
- Mounts are easily categorized as the most useful part of the telescope setup. A mount is generally used for supporting a telescope to avoid vibrations and also used to point and guide the instrument. Mount is responsible for how a person moves, aligns and track celestial objects.
- The market is segmented on the basis of application into amateur astronomy (Enter-level telescope), Professional Research (Advanced astronomical telescope) and Others (Intermediate level). Amateur astronomy (Entry-level telescope) is the fastest growing segment in terms of revenue, and is expected to have a CAGR of 7.2% during the forecast period.
- Amateur astronomers engage in many imaging techniques including film, DSLR, LRGB, and CCD astrophotography. Since CCD imagers are linear in nature, image processing can be used to reduce the effects of light pollution, thus increasing the popularity of astrophotography in urban areas.
- The market is segmented on the basis of geography into North America, Europe, Asia Pacific, Latin America, and
- North America holds the largest market share of in 2020 by volume, due to the presence of the largest space organization NASA and other astronomical research institutions. The region will witness a growth of 7.8%, in terms of volume, during the forecast period.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Key participants include Synta, Astro-Physics, Celestron, Meade, Vixen Optics, TAKAHASHI, Bushnell, Bresser, ORION, Barska, Bosma, Visionking and Sky-Watcher, among others.
For the purpose of this report, Reports and Data have segmented global Astronomical Telescope Market on the basis of equipment, product, application and region:
Product Outlook (Volume, Thousand Units; 2019-2030, Revenue, USD Million; 2019-2030)
- Refracting Telescope
- Reflector Telescope
- Catadioptric Telescope
Equipment Outlook (Volume, Thousand Units; 2019-2030, Revenue, USD Million; 2019-2030)
- Focal Reducers
Application Outlook (Volume, Thousand Units; 2019-2030, Revenue, USD Million; 2019-2030)
- Amateur astronomy (Entry-level telescope)
- Professional Research (Advanced astronomical telescope)
- Others (Intermediate level)
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Regional Outlook (Volume, Thousand Units; 2019-2030, Revenue, USD Million; 2019-2030)
- North America
- Asia Pacific
- Rest of the World
Key Questions Answered:
- Which of these regions – North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, dominates market share?
- What is the outcome of the COVID-19 Impact Analysis performed in the report?
- What are the revenue estimations for every region in the Astronomical Telescope market?
- What is the current market valuation of each region and the estimated market size by the end of the forecast period?
- What is the projected growth rate of the global Astronomical Telescope market?
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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