The global golf rangefinder market size is expected to reach
USD 186.5 million by 2025, according to a new report by Grand View Research,
Inc., expanding at a CAGR of 8.3% over the forecast period. Rising demand for
the technological products to add more accuracy and precision in the golf
sports is expected to be a key driver. Moreover, increasing popularity of golf
sports among business professionals as a part of leisure activity is propelling
the demand for the rangefinder in the market.
The laser product segment accounted
for a share of more than 60.0% in 2018 and is expected to maintain its lead
over the forecast period owing to its high degree of accuracy. Key industry
participants such as Bushnell Corporation, Nikon Corporation, SkyHawke
Technologies, LLC, and ZEISS International are launching new products to tap
new markets. For instance, in March 2019, Nikon Corporation launched a brand
new technologically advanced portable Laser rangefinder under the brand name
‘COOLSHOT 20 GII’. The product is equipped with 6x monocular multicoated lenses
for bright and clear view, coupled with a measurement range from 5 meters to
730 meters. These initiatives increase the product visibility, which is
expected to fuel the golf rangefinder market growth over the forecast period.
Online channel is expected to remain
the fastest growing distribution channel as a result of increasing number of
smartphone users at a global level. Additionally, growing popularity of
e-commerce portals for providing add-on benefits such as cash-on-delivery
(COD), payback, door delivery, and coupon services is expected to force the
buyers to utilize e-commerce portals for purchasing rangefinder products over
the next few years.
North America accounted for a share of
45.4% in 2018. U.S. is one of the countries in the world with a large golf
playing population. According to the statistics provided by the American Golf
Corporation, around 29 million population plays golf regularly, which is
approximately 10% of the U.S. population. Out of this population, 50% of them
are working professionals, which ensures increasing participation of the young
population in golf.
Asia Pacific is anticipated to emerge
as the fastest growing market in the forecast period. This growth is attributed
to rise in the number of A-level and B-level executives in developing countries
such as China and India as a result of growth in the service and manufacturing
sectors at a domestic level. This, in turn, is projected to promote the scope
of golf as a leisure activity and thus, expand the product’s scope.
Key manufacturers include Bushnell
Corporation; Nikon Corporation; GolfzonDeca Inc.; SkyHawke Technologies, LLC;
ZEISS International; Laser Link Golf; Leupold & Stevens, Inc.; and
Precision Pro Golf.
Browse full research report on Golf Rangefinder Market: https://www.grandviewresearch.com/industry-analysis/golf-rangefinder-market
Further key findings from the report suggest:
- Asia Pacific is expected to expand at the fastest CAGR of
9.4% from 2019 to 2025 owing to increasing number of A-level and B-level
executives in developing economies including China and India
- U.S. is expected to generate a revenue of exceeding USD 70.0
million by the end of 2025
- GPS rangefinder is expected to expand at the fastest CAGR of
8.8% from 2019 to 2025 as the product is capable of providing a better
overall view of the hole
- Offline distribution channel was the largest sale mode for
the product with a share of more than 85.0% in 2018
- Product innovation is expected to be a key strategy among the
industry participants.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/golf-rangefinder-market/request/rs1
Grand View Research has segmented the global golf rangefinder
market on the basis of product, distribution channel, and region:
Golf Rangefinder Product Outlook (Revenue, USD’000, 2015 - 2025)
- LASER
- GPS
Golf Rangefinder Distribution Channel Outlook (Revenue, USD’000,
2015 - 2025)
- Offline
- Online
Golf Rangefinder Regional Outlook (Revenue, USD’000, 2015 - 2025)
- North
America
- U.S.
- Europe
- U.K.
- Germany
- Asia
Pacific
- China
- Japan
- Australia
- Central
& South America
- Brazil
- Middle
East & Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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