North America and Asia Pacific Golf Rangefinders Market Size By Product (Laser, GPS, and Hybrid), By Distribution Channel (Online, and Offline), By Application (Beginners, and Professionals), By Geographic Scope And Forecast

North America and Asia Pacific Golf Rangefinders Market Size And Forecast

North America and Asia Pacific Golf Rangefinders Market size was valued at USD 76.01 Million in 2021 and is projected to reach USD 153.80 Million by 2030, growing at a CAGR of 8.19% from 2023 to 2030.

North America and Asia Pacific Golf Rangefinders Market is majorly driven by factors such as the rising popularity of golf sport in the region, the growing number of players, the growing number of golf courses across North America and Asia Pacific region, and health and fitness benefits of golf sport. The North America and Asia Pacific report provide a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

North America and Asia Pacific Golf Rangefinders Market Definition

Golf is becoming a popular sport in both North America and Asia Pacific, and the number of golfers in these regions is expected to grow in the coming years. As more people take up golf, the demand for golf rangefinders is likely to increase. A golf rangefinder is a device that measures the distance between the players and the targets on the golf course. There are three main types of golf rangefindersGPS rangefinders and laser rangefinders and Hybrid rangefinders. Golfers can use GPS rangefinders to display distances to various targets on the course while also determining their location using satellite technology. They typically require an initial setup to download course maps and can be limited by the accuracy of the satellite signal. Laser rangefinders, on the other hand, use a laser beam to measure the distance to a specific target. They are more accurate than GPS rangefinders and can be used on any golf course. They demand the golfer to physically point the device at the target, though.

This market has been growing steadily in recent years, driven by a number of factors including, the rising number of players and courses, and the rising popularity of golf sport among the public. However, the high cost and lack of accuracy of golf rangefinders may hamper the market growth near future. Additionally, rise in the e-commerce industry, and technological advancement, golf tourism creating a lucrative growth opportunity for the golf rangefinders market in the forecasted period.

North America and Asia Pacific Golf Rangefinders Market Overview

North America and Asia Pacific Golf Rangefinders Market is majorly driven by factors such as the rising popularity of golf sport in the region, the growing number of players, the growing number of golf courses across North America and Asia Pacific region, and health and fitness benefits of golf sport. The increasing popularity of golf sport and the rising number of golf courses in the North American region is expected to boost the demand for golf rangefinders in the market near future. A golf rangefinder is a device used to measure the distance between the golf ball and the players. Golf rangefinders are designed to help golfers estimate the distance and the accuracy of shots. That estimation helps the players to improve the game by letting them know how hard should they hit the ball. There were 38,081 golf courses in 206 of the 251 nations in the globe as of the end of 2020. That is an 82% North America and Asia Pacific diffusion rate for the sport. The majority of golf courses supply located in North America, the U.S. alone holds 42% of the world’s total golf courses. Golf was one of the few sports that were given an early reopening in the U.S. and other countries after the first lockdown of the North America and Asia Pacific pandemic ended, and this contributed significantly to its rising popularity of golf over the past couple of years in North America.

The high cost of golf rangefinders and lack of accuracy may hinder market growth near future. Costly golf rangefinders could discourage more casual players from using them. Some golfers may opt to use traditional yardage markers or rely on their own estimation in place of spending hundreds of dollars on a rangefinder. Additionally, while the majority of golf rangefinders are accurate, some models might not provide reliable readings, particularly during inclement weather. As a result, they might be less useful on the golf course, and players might be hesitant to rely on them. Moreover, the development of new and advanced technologies in golf rangefinders creates a lucrative growth opportunity for market growth. For instance, golfers increasingly used rangefinders with features like slope correction, GPS mapping, Laser technology, GPS technology, slope technology, jolt technology, Bluetooth connectivity, and jolt technology are some advanced technologies used in golf rangefinders. There will be an increasing need for rangefinders with even more sophisticated features and capabilities as these technologies advance.

North America and Asia Pacific Golf Rangefinders Market Segmentation Analysis

The North America and Asia Pacific Golf Rangefinders Market is segmented based on Product, Distribution Channel, Application, and Geography.

North America and Asia Pacific Golf Rangefinders Market, By Product

• Laser
• GPS
• Hybrid

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Based on Product, the market is segmented into Laser, GPS, and Hybrid. Out of which, Laser accounted for the largest market share of 48.62% in 2021, with a market value of USD 36.96 Million and is projected to grow at a CAGR of 8.02% during the forecast period. GPS was the second-largest market in 2021, valued at USD 23.90 Million in 2021; it is projected to grow at the highest CAGR of 8.76%.

Laser rangefinders are devices that use lasers to find the distance to an object. These devices can measure distances ranging from meters to multiple kilometres. The laser offers multiple advantages for measuring distance such as the smaller wavelength of the laser that allows it to send out a concentrated beam of light. This helps to achieve higher transverse spatial resolution. The laser finders feature viewing devices, lasers, optical parts, photodetector, and electronics.

North America and Asia Pacific Golf Rangefinders Market, By Distribution Channel

• Offline
• Online

Based on Distribution Channel, the market is segmented into Online, and Offline. Out of which, offline accounted for the largest market share of 81.93% in 2021, with a market value of USD 62.28 Million and is projected to grow at a CAGR of 7.90% during the forecast period. Online was the second-largest market in 2021, valued at USD 13.73 Million in 2021; it is projected to grow at the highest CAGR of 9.42%.

In countries such as the U.S., Japan, India, and China large chains of sports stores provide golf rangefinders to customers. Stores such as The Golf Warehouse, Golf Etail, Dick’s Sporting Goods, Golf Galaxy and Fairway Golf USA are some of the top sports stores that offer golf equipment in the U.S. These stores offer a wide range of brands that are well-known for their quality and performance. Most customers prefer to buy sports products through physical stores. For instance, according to a survey conducted by Consumer Reports National Research Center, more than 7,000 customers experienced buying golf clubs and accessories through physical stores. The respondents lauded the pro shops and individual shops for their service, merchandise quality, value, and checkout ease.

North America and Asia Pacific Golf Rangefinders Market, By Application

• Beginners
• Professionals

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Based on Application, the market is segmented into Beginners, and Professionals. Out of which, Beginners accounted for the largest market share of 75.38% in 2021, with a market value of USD 57.30 Million and is projected to grow at the highest CAGR of 8.36% during the forecast period. Professionals was the second-largest market in 2021, valued at USD 18.71 Million in 2021; it is projected to grow at a CAGR of 7.64%.

The golf rangefinders help beginners to easily hit their target and reach the greens without any difficulty. The devices also help to measure the distance between the players and the objects or the hurdles such as trees. Moreover, an increasing number of beginners playing golf is expected to drive the demand for these rangefinders. For instance, according to an article by the National Golf Foundation as of 2022, more than 3.3 million people played golf for the first time in the U.S. This was the highest record of new players after 2000 wherein 2.4 million people played the sport for the first time. The number of beginners has increased drastically after the COVID-19 pandemic, wherein 3.2 million Americans picked up the sport.

North America and Asia Pacific Golf Rangefinders Market, By Geography

• Asia-Pacific
• North America

By Geography, North America and Asia Pacific Golf Rangefinders Market is classified as Asia-Pacific, and North America. Out of which, North America accounted for the largest market share of 72.36% in 2021, with a market value of USD 55.00 Million and is projected to grow at a CAGR of 8.11% during the forecast period. Asia-Pacific was the second-largest market in 2021, valued at USD 21.01 Million in 2021; it is projected to grow at the highest CAGR of 8.40%.

The number of players adopting golf as a sport in North America has seen a considerable increase after the COVID-19 pandemic. The increased popularity is because golf courses were among the first to open after COVID cases were reduced. According to the National Golf Foundation, 24.8 million golfers played the sport as of 2020 in the U.S., an increase of 500,000 or 2% compared to 2019, the highest net increase in 17 years. The surge in the players included both beginners and lapsed golfers who returned to playing golf after several years. Moreover, the number of women playing the sport also surged post-pandemic, with more than 450,000 women joining the sport, an increase of 8% year-on-year. The women players were nearly a quarter of all the golfers. Currently, the U.S. has an estimated 119 million people over the age of 5 years who played golf either off-course or on-course, read about the game, followed it on television, or listened to golf-related podcasts.

Key Players

The major players in the market are Nikon, Bushnell Corporation, Golf Buddy, Callaway, Garmin, Leupold & Stevens Inc., TecTecTec, SkyHawke Technologies, Laser Link, Prcision Pro Golf, and Others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with Type benchmarking and SWOT analysis.

Key Developments

• In March 2021, With more than 42,000 preloaded courses, Garmin’s famous Approach series of GPS golf products now includes the Approach S42 wristwatch, the Approach S12 watch, and the Approach G12 GPS rangefinder. This new Approach collection boasts exceptional battery life across the board and supports communication.
• In August 2021, Nikon is announced the availability of the golfers’ COOLSHOT PROII STABILIZED Laser Rangefinder. This is the top-of-the-line model in the COOLSHOT series and is a new, upgraded version of the COOLSHOT PRO STABILIZED.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.