Golf Rangefinder Market Updates

Golf Rangefinder Market size was valued at USD 350.925 Million in 2023 and is poised to grow from USD 377.95 Million in 2024 to USD 762.52 Million by 2032, growing at a CAGR of 7.7% during the forecast period (2025-2032).

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.