Golf Rangefinder Market to Observe Strong Development by 2026

Golf rangefinder is a device which measures the distance of the target from the observer. The golf rangefinder tool is one of the major helping tools for players to gauge the distance and improve their scores. Amateurs use it specifically for measuring the distance between them and the flag. Golf rangefinders have numerous benefits in helping both experienced golfers and aspiring golf professionals to improve their game to a great extent, thereby mastering the act of hitting targets.

Golf is gaining popularity amongst non-professional golfers, country clubs, and business professionals. The profitability and popularity of the golf club service providers have increased significantly in recent years. Social media has grabbed the attention of youngsters by leisure of playing golf of friends and their relatives. Golf is considered to be a status sport which is popular around the world. With the rising disposable income, more new beginners are indulging their interest in this game.

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Golf courses are highly concentrated in the top 20 countries and their count is increasing steadily worldwide. In 2017, about 34500 golf facilities were available globally. Most of these facilities are in the top 10 golfing countries which include the U.S., Australia, England, Canada, and Japan. Most of these facilities are in golf resorts, golf-centric real estates, and private clubs which make them largely accessible.

The increasing number of infrastructural projects worldwide along with technological advancements have boosted the growth of the global golf rangefinder market. Sports activities needing accuracies, increasing golf courses worldwide, along with the supporting factor of increasing disposable income of consumers which involves expenditure in leisure activities are the major drivers of this industry.

The approval for the usage of Distance Measuring Devices (DMDs) in most of the professional tournaments have positively impacted the global golf rangefinder market. Use of DMDs has been allowed by golf-governing bodies with the approval of the local communities to enhance the golf gaming experience.

The smartphone golf rangefinders pose a high threat to the rangefinders market. The premium sports industry has evolved tremendously over the last decade and golf has also adopted the technologies very well. For instance, application developers have also become one of the major stakeholders in the golf industry with the introduction of golf rangefinders. These application developers are creating golf applications by using the GPS functionality of smartphones. The increasing popularity of golf rangefinders can be attributed to their no-cost services. The penetration of smartphones has also increased which encouraged manufacturers to adopt golfing technologies. These factors are anticipated to restrain the industry growth over the forecast timeline.

However, mobile rangefinders are not as accurate as laser golf or GPS golf rangefinders as these devices can be used only for measuring distances which does not include slope and wind speed, which will fuel the demand for golf rangefinders.

The global golf rangefinder market can be segmented on the basis of product into laser golf finders and GPS golf finders. The laser golf rangefinders are anticipated to account for majority of market share over the forecast timeline. On the basis of region, the golf rangefinder market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America accounted for major share of the golf rangefinder market due to the presence of numerous manufacturers in the region.

The golf rangefinder industry is relatively consolidated as few manufacturers account for majority of the market share. Some of the industry participants of the global golf rangefinder market include Bushnell Golf, SkyGolf, Laserlink Golf, Shotsaver, GolfBuddy, Leisure Pursuits, Nikon, Sonocaddie, Callaway, Tour Precision, Leupold, and Garmin.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia