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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 By Product (Laser, GPS, and Hybrid), By Distribution Channel (Online, and Offline), By Application (Beginners, and Professionals), By Geographic Scope And Forecast

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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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 really taking off in North America and Asia Pacific! We're seeing more and more people hitting the links, and that means the need for cool gadgets like golf rangefinders is probably going to go up too. So, what is a golf rangefinder? Well, it's a handy tool that helps you figure out how far away you are from the hole or other targets on the course. There are basically three kindsGPS rangefinders, laser rangefinders, and Hybrid rangefinders. With a GPS rangefinder, you can see distances to different spots on the course, and it even uses satellites to pinpoint where you are. The catch is, you usually have to download maps beforehand, and the satellite signal might not always be perfect. Then you've got laser rangefinders. These use a laser beam to give you super-accurate measurements to exactly what you're aiming at. They work on any course, but you have to actually point the thing at your target, which takes a little more effort.

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.

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North America and Asia Pacific Golf Rangefinders Market Overview

What's making the North America and Asia Pacific Golf Rangefinders Market tick? Well, the growing love for golf in these areas is a big one! More people are playing, and there are more courses popping up across North America and Asia Pacific. Plus, let's not forget the health and fitness perks of hitting the green. With golf becoming more popular and new courses being built, especially in North America, we're expecting a surge in demand for these handy devices. What exactly is a golf rangefinder? It's basically a gadget that tells you how far away your ball is from the hole, or other points on the course. They help golfers dial in their shots by giving them a better idea of how hard to swing. And get thisback in 2020, there were a whopping 38,081 golf courses spread across 206 of the 251 countries on Earth. That means golf has reached about 82% of the globe! North America leads the way, with the U.S. alone housing 42% of all the world's golf courses. Here's a fun factGolf was one of the first sports to reopen after the initial lockdowns, which definitely helped boost its popularity in North America over the last few years.

Okay, so the price of those fancy golf rangefinders, and sometimes their wonky accuracy, might slow down the market a bit. I mean, who wants to drop a ton of cash on something they're not sure will work perfectly? That high cost could definitely turn off the casual golfer. They might just stick with the old yardage markers, or even just guess, rather than shelling out hundreds! Plus, even though most rangefinders are pretty spot-on, some models can give you bogus readings, especially when the weather's bad.

That makes them less helpful out on the course, and makes players think twice about trusting them.

But, here's the thingall the cool new tech being packed into these things is a huge opportunity for growth. We're talking about features like slope correction, GPS mapping, Laser technology, GPS technology, slope technology, jolt technology, Bluetooth connectivity, and jolt technology. As this stuff gets better, golfers are gonna want rangefinders with even more bells and whistles.

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

To Get a Summarized Market Report By Product-

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%.

If you're looking for a golf rangefinder, you're in luck! In countries like the U.S., Japan, India, and China, you can find them at big sports store chains. Here in the U.S., some of the top spots to check out for all your golf gear include The Golf Warehouse, Golf Etail, Dick’s Sporting Goods, Golf Galaxy, and Fairway Golf USA. These stores usually carry a great selection of well-known brands that are popular for their quality. While online shopping is an option, many golfers actually prefer heading to physical stores. For example, Consumer Reports National Research Center conducted a survey of over 7,000 people who bought golf clubs and accessories in person, and the respondents were really happy with the service, merchandise quality, value, and how easy it was to checkout at the pro shops and individual stores they visited.

North America and Asia Pacific Golf Rangefinders Market, By Application

  • Beginners
  • Professionals

To Get a Summarized Market Report By Application-

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%.

Golf rangefinders? They're like a beginner's best friend, making it way easier to nail your shots and get to those greens without a ton of frustration. Not only that, but they're super handy for figuring out how far you are from stuff on the course, like trees or other obstacles. And get this – more and more newbies are getting into golf, which means demand for these gadgets is going up! For example, according to an article by the National Golf Foundation, in 2022, over 3.3 million people in the U.S. tried golf for the first time. That's the most new players since 2000 when 2.4 million gave it a shot. The number of beginners has really exploded since the COVID-19 pandemic, with a whopping 3.2 million Americans taking 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%.

Since the COVID-19 pandemic, it feels like everyone in North America has picked up a golf club! Golf courses were some of the first places to open up as things started to calm down, and people flocked to them. The National Golf Foundation says that in 2020, a whopping 24.8 million people in the U.S. played golf. That's 500,000 more than in 2019 – a 2% jump and the biggest increase we've seen in 17 years! This boom included newbies and those who hadn't swung a club in ages. And get this – the number of women golfers also exploded after the pandemic, with over 450,000 women taking up the sport, an 8% jump from the previous year. They now make up nearly a quarter of all golfers! Right now, we're looking at about 119 million people in the U.S. (over the age of 5) who are somehow involved with golf, whether they're actually playing on the course, hitting balls at a range, reading about it, watching it on TV, or even just listening to podcasts about it.

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.

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