Rising acceptance of Golf Rangefinder Boosts Industry Growth
As per the report by Grand View Research, Inc., the Golf Rangefinder Market is poised to rise to a valuation of USD 186.5 million and is estimated to witness a CAGR of 8.3 % by 2025. Increasing demand for technical products to add more precision and accuracy in golf sports is anticipated to be a major driver of the market in the years to come.
Emerging trend of golf as a sport is leading to increased demand for rangefinder as it is a vital tool for players to improve their shots and scale distance. This tool is also very important for amateurs and golfers as it allows them to gauge the distance between the object hole and the ball. This has numerous advantages for both experienced golfers as well as newcomers to develop their games and improve the shot correctness.
Press Release: Golf Rangefinder Market Worth $186.5 Million By 2025
Top 10 golf enthusiast economies comprise of Canada, U.S., Scotland, England, Sweden, France, Germany, Australia, South Africa, and Japan. As per the statistic specified in the ‘Golf Industry Report’ in 2017, approximately 8.3 million people played off-course and 23.8 million people played on-course golf, which was surged by 7%. The total population who played golf was around 32 million. Such an increase in the contribution in sports is anticipated to boost golf rangefinder industry over the years.
North America is expected to witness significant growth in the coming years owing to the presence of top manufacturers in this region. In addition, Asia Pacific is anticipated to be the second largest market in terms of revenue in the market over the forecast period. It is driven by rising awareness about golf among end-users and the development of the corporate segment in China and India.
Leading players in the market are focusing on product invention and R&D in order to increase their market reach. Some of the key players effective in the golf rangefinder market are Nikon Corporation; Bushnell Corporation; Laser Link; Leupold and Stevens, Inc.; Callaway; ZEISS; and SkyHawke Technologies, LLC.