Global Golf Rangefinder Market

Global Golf Rangefinder Market Size, Share, Growth Analysis, By Product Type(Laser, GPS), By Distribution Channel(Offline, Online), By End-User(Professionals, Beginners), By Price(Premium, Medium), By Display Technology(Single Display Technology, Dual Display Technology) - Industry Forecast 2023-2030


Report ID: SQMIG20D2186 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 141 | Figures: 78

Global Golf Rangefinder Market Insights

Golf Rangefinder Market size was valued at USD 325 million in 2021 and is poised to grow from USD 350.925 million in 2022 to USD 708 million by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

An extensive rise in the popularity of golf in the developed economies such as United States, Germany, and Japan among business professionals and others also is expected to be the major driving factor of the global golf rangefinder market during the forecast period. In addition, a tremendous growth in the number of golf courses across the globe is also projected to propel the market growth in the coming years. According to our findings, in 2021, there are over 38,000 golf courses in the world, spread among 206 countries. However, around 80% of the total golf courses are situated in the world’s top 10 golfing countries.

Furthermore, increasing demand for golf rangefinders as it’s a very crucial tool for the golf players for scaling the distance to flag and improve their shots is creating lucrative growth opportunities for the global golf rangefinder market. Moreover, high growth in the innovation of products and technology around the world and mainly in the developed nations by several market players for providing best of products to enhance their game and experience as well, it has led to the high adoption of rangefinders among players including both beginners and professionals.

US Golf Rangefinder Market  is poised to grow at a sustainable CAGR for the next forecast year.

 

Market snapshot - 2023-2030

Global Market Size

USD 325 million

Largest Segment

GPS

Fastest Growth

GPS

Growth Rate

7.7% CAGR

Global Golf Rangefinder Market ($ Mn)
Country Share for North America Region (%)
Global Golf Rangefinder Market By Product Type ($ Mn)
Global Golf Rangefinder Market By Product Type (%)

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Global Golf Rangefinder Market Segmental Analysis

Global golf rangefinder market is segmented on the basis of product type, distribution channel, end-user, price, and display technology, and region. By product type, the golf rangefinder market is sub-segmented into laser, GPS, and hybrid. By price, the market is segmented into premium, medium, economy. By display technology, the market is segmented into single display technology, dual display technology. By distribution channel, the market is bifurcated into online and offline. By end-user, the golf rangefinder market is categorized into professionals and beginners. By region, the market is divided into North America, Europe, Asia pacific, Latin America, and MEA.

Golf Rangefinder Market Analysis by Product Type

By product type, the laser rangefinder segment dominated the market with a significant growth rate in 2021 and it is projected to maintain this dominance throughout the forecast period. Laser rangefinder are much accurate as compared to others, which creates more chances for accurate shots as well as to find the exact position of ball and flag. As a result, the demand for laser rangefinders among beginners and professionals also and it is a major key factor expected to drive the segment growth over the forecast period. Major manufacturing companies of this products like Nikon Corporation and Bushnell Corporation are highly focusing on new product launches to cater the growing demand for laser rangefinders across the globe. For instance, in August 2021, Nikon Vision Co. Ltd., a subsidiary of Nikon Corporation has announced the launch of latest COOLSHOT 50i Laser Rangefinder for golfers. It’s a new and medium-class laser rangefinder that comes with several versatile functions.

Golf Rangefinder Market Analysis by Distribution Channel

By distribution channel, the offline segment dominated the golf rangefinder market with a holding of significant market share in 2021. Large number of sports stores chain and increasing awareness towards physical sports in developed countries including Japan, United States, England, Germany, and Scotland are major factors driving the growth and demand of the market. For instance, Decathlon S.A., leading sporting goods retailers, inaugurated its newest store opening in Emeryville, California. The main aim of the company by opening various new stores and expanding their chain is to gain the largest consumer base and holds the strongest position in the market.

Furthermore, the online segment is expected to witness highest CAGR during the forecast period. The emergence of various new e-commerce platforms like Amazon and shifting in consumer preferences towards online shopping are the major factors expected to boost the segment growth in the coming years. In addition, the availability of high-speed internet and smartphone presence across the globe is further expected to fuel the growth of the market.

Global Golf Rangefinder Market By Product Type, 2021 (%)

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Global Golf Rangefinder Market Regional Insights

Globally, North America held the largest share in golf rangefinder market with a strong CAGR rate in 2021. Increased popularity of golf in countries like United States and Canada, high growth in the technology, continuous advancements in products and emergence of several golf competitions are the key factors driving the growth of the market in the region. Additionally, the presence of international market players such as Bushnell Corporation and Callaway coupled with the large number of golf courses is also projected to have a positive impact on the regional market over the forecast period. According to the National Golf Foundation, there were around 16,100 golf courses at nearly 14,100 facilities, in which 75% of them are open to the general public in the United States in 2020.

In addition, Asia Pacific region expected to witness a significant growth rate during the forecast period. This is simple attributed to the increasing manufacturing facilities especially in China region coupled with the growing awareness and increase in income of consumers. According to our findings, china was the largest exporter of rangefinders across the globe with an export value of around USD 230 million in 2021. Furthermore, the continuously rising defence investments in the region is also anticipated to propel the growth and demand for rangefinders in the near future.

Global Golf Rangefinder Market By Region, 2023-2030
  • Largest
  • Fastest

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Global Golf Rangefinder Market Dynamics

Golf Rangefinder Market Drivers

  • Technological advancements, rising number of infrastructural projects across the world, and change in consumer preferences for improved designing and features are the major drivers expected to drive the global golf rangefinder projects throughout the forecast period. An extensive rise in the sporting events around the world and increasing need for accurate devices in various sports activities are further anticipated to propel the market growth in the coming years.
  • The growing popularity of golf as asport is increasing day by day.With the rise in demand of golf as a sport  the need of rangefinder too increases.The number of new players and amateurs  are increasing with each coming day therefore rangefinder becomes the essential tool as it helps them to gauge the distance between the target hole and them.

Golf Rangefinder Market Restraint

  • Technological problems in the rangefinder such as difficulty in focusing in a target, fault reading, and blank display are the few factors expected to restrain the global golf rangefinder market over the forecast period. Golf rangefinder is a device, so it consists some technological issues as well like detecting wrong distance and giving wrong values, it can’t be accepted in large tournaments. which can hinder the global market for golf rangefinder in the next coming years.
  • The alternate solution for the golf rangefinder is anticipated to cause restraints to the market.The advent of smartphone golf rangefinders which are handy for the consumer can be a threat to the expanding market.

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Global Golf Rangefinder Market Competitive Landscape

Global golf rangefinder market is fairly competitive with the presence of several local and international players. The top 5 market players are expected to hold the major share including Nikon Corporation and Bushnell Corporation. Key market players are implementing on various business strategies such as acquisition, mergers, partnerships, and new product launches for the expansion of their geographical presence and product portfolio.

Golf Rangefinder Market Top Player’s Company Profiles

  • Nikon Corporation
  • Laserlink Golf
  • Bushnell
  • Garmin
  • Precision Pro Golf
  • TecTecTec
  • Callaway Golf
  • Leupold
  • SkyCaddie
  • GolfBuddy
  • Sonocaddie
  • Tour Trek
  • Voice Caddie
  • Izzo Golf
  • GolfLogix
  • ScoreBand
  • Breaking 80
  • GolfSense
  • Swami Sport
  • Golf Buddy Voice 2

Golf Rangefinder Market Recent Developments

  • In September 2022, Bushnell released its first ever GPS watch with slope-adjusted distances.
  • In August 2022,Golf Zondeka Co., Ltd. , a global golf rangefinder company, announced on the 10th that it will launch the ultra-compact high-end laser rangefinder “GOLFBUDDY aim QUANTUM,” which will revolutionize the golf rangefinder market.

  • In June 2022, Voice Caddie, a South Korean maker of golf course rangefinders and related golf products, and Daol Private Equity are jointly acquiring SuperStroke, a US putter and club grip maker.

  • In February 2021, Leupold & Stevens Inc., announced the launch of its new and latest laser rangefinder, which is built to provide quick ranging speed along with angle corrected distances out to 950 yards. The rangefinder has high-contrast LCD display, which produces and give incredible bright and clear pictures,

Global Golf Rangefinder Key Market Trends

  • Increasing urbanization coupled with the numerous infrastructural projects including smart cities have been on the rise from the last few years. These factors are bringing high demand for golfing facilities and in turn golf rangefinders, and expected to fuel the market demand and growth in the coming years. Furthermore, the utilization of distance measuring devices in the numerous professional tournaments across the globe with the rising popularity of these tournaments is impacting the global golf rangefinder market positively.
  • The innovation of DDT i.e Dual Display Technology and Slope compensation technology are the major trending features in the golf rangefinder market.DDT is being publicized as a great feature, as, when lighting conditions change, users can change the display color to an option that is most visible to them.

Global Golf Rangefinder Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global golf rangefinder market is witnessing a significant growth during the forecast period owing to its high adoption in developed countries, increased in consumer disposable income, and increasing sports person across the globe. In addition, golf rangefinders are gaining much popularity due to its numerous features such as accuracy, avoid hazards, speed up game play, and easy to carry. All of these features are likely to boost the demand for golf rangefinder in the near future. However, lack of popularity of golf in middle-sized and low-sized economies is one the major factor expected to hamper the growth of the market over the forecast period.

Report Metric Details
Market size value in 2021 USD 325 million
Market size value in 2030 USD 708 million
Growth Rate 7.7%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Million
Segments covered
  • Product Type
    • Laser, GPS, Hybrid
  • Distribution Channel
    • Offline, Online
  • End-User
    • Professionals, Beginners
  • Price
    • Premium, Medium, Economy
  • Display Technology
    • Single Display Technology, Dual Display Technology
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Nikon Corporation
  • Laserlink Golf
  • Bushnell
  • Garmin
  • Precision Pro Golf
  • TecTecTec
  • Callaway Golf
  • Leupold
  • SkyCaddie
  • GolfBuddy
  • Sonocaddie
  • Tour Trek
  • Voice Caddie
  • Izzo Golf
  • GolfLogix
  • ScoreBand
  • Breaking 80
  • GolfSense
  • Swami Sport
  • Golf Buddy Voice 2
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Golf Rangefinder Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Golf Rangefinder Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Golf Rangefinder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Golf Rangefinder Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Golf Rangefinder Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Golf Rangefinder Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Golf Rangefinder Market size was valued at USD 325 million in 2021 and is poised to grow from USD 350.925 million in 2022 to USD 708 million by 2030, growing at a CAGR of 7.7% in the forecast period (2023-2030).

Global golf rangefinder market is fairly competitive with the presence of several local and international players. The top 5 market players are expected to hold the major share including Nikon Corporation and Bushnell Corporation. Key market players are implementing on various business strategies such as acquisition, mergers, partnerships, and new product launches for the expansion of their geographical presence and product portfolio. 'Nikon Corporation', 'Laserlink Golf', 'Bushnell', 'Garmin', 'Precision Pro Golf', 'TecTecTec', 'Callaway Golf', 'Leupold', 'SkyCaddie', 'GolfBuddy', 'Sonocaddie', 'Tour Trek', 'Voice Caddie', 'Izzo Golf', 'GolfLogix', 'ScoreBand', 'Breaking 80', 'GolfSense', 'Swami Sport', 'Golf Buddy Voice 2'

Technological advancements, rising number of infrastructural projects across the world, and change in consumer preferences for improved designing and features are the major drivers expected to drive the global golf rangefinder projects throughout the forecast period. An extensive rise in the sporting events around the world and increasing need for accurate devices in various sports activities are further anticipated to propel the market growth in the coming years.

Increasing urbanization coupled with the numerous infrastructural projects including smart cities have been on the rise from the last few years. These factors are bringing high demand for golfing facilities and in turn golf rangefinders, and expected to fuel the market demand and growth in the coming years. Furthermore, the utilization of distance measuring devices in the numerous professional tournaments across the globe with the rising popularity of these tournaments is impacting the global golf rangefinder market positively.

Globally, North America held the largest share in golf rangefinder market with a strong CAGR rate in 2021. Increased popularity of golf in countries like United States and Canada, high growth in the technology, continuous advancements in products and emergence of several golf competitions are the key factors driving the growth of the market in the region. Additionally, the presence of international market players such as Bushnell Corporation and Callaway coupled with the large number of golf courses is also projected to have a positive impact on the regional market over the forecast period. According to the National Golf Foundation, there were around 16,100 golf courses at nearly 14,100 facilities, in which 75% of them are open to the general public in the United States in 2020.

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Global Golf Rangefinder Market

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