Golf Rangefinder Market: Introduction
Distance-measuring electronic devices have become a recent trend. The devices are part of GPS screens on a golf cart, golf rangefinders and GPS watches, which have become a necessity for most golfers. Golf rangefinders are designed with a dual display technology, which delivers high customer experience to find the accurate range of the objects.
Moreover, golf rangefinders are also manufactured with water-resistant technology apart from being compact, which makes it easy for golfers to carry golf rangefinders in the field. Also, golf rangefinders with slope compensation technology help golfers to take the incline/decline position of the hole into consideration and adjust the reading accordingly. The golf governing bodies have allowed the use of golf rangefinders during international competitions across the globe.
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Golf Rangefinder Market: Dynamics
The key driving factor of global golf rangefinder market is the increasing popularity of the golf game among people along with the rising demand of smart devices for games and sports to enhance the viewers and players’ experience across the globe. Macroeconomic factors such as increasing urban population and growing golf clubs globally will help to grow the global golf rangefinders market at a significant rate over the forecast period.
Moreover, the technological advancement in the golf rangefinders such as GPS systems will fuel the global golf rangefinder market towards high growth over the forecast period. Also, e-commerce sales channel is of great importance to the golf rangefinder devices across the globe. Hence, rapidly growing e-commerce industry due to increasing number of e-commerce websites, especially for the consumer goods and sports products, along with increasing e-commerce investments in the developing countries will lead the global golf rangefinder market to robust growth over the forecast period.
Furthermore, government regulations to legally use golf rangefinders in competitions will increase the global golf rangefinders growth over the forecast period. The key retraining factor such as increasing trade tariffs on manufactured electronic products in the Asia Pacific region by the U.S. will hinder the global golf rangefinders market growth over the forecast period.
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Golf Rangefinder Market: Segmentation
Global golf rangefinders market can be segmented on the product type, display technology type, price type, sales channel type, and region.
Based on the product type, golf rangefinder market has been segmented as follows:
Based on the display technology type, golf rangefinder market has been segmented as follows:
- Single Display Technology
- Dual Display Technology
Based on the Price type, golf rangefinder market has been segmented as follows:
Based on sales channel type, golf rangefinder market has been segmented as follows:
- Third-party Online Retailers
- Direct to Customers Online Retailers
- Franchise Stores
- Independent Outlets
- Modern Trades
Golf Rangefinder Market: Regional Outlook
Geographically, the global golf rangefinder market can be segmented into North America, Latin America, Europe, CIS & Russia, Japan, Asia Pacific excluding Japan and the Middle East and Africa. North America is estimated to account for a significant market share in the global golf rangefinders market due to the presence of the highest numbers of golf holes approx. 298,254 till 2017 as well as the highest numbers of golf facilities across the region. Europe is anticipated to witness a considerable expansion of the global golf rangefinders market, owing to account approx.
22% of the global golf facilities which is the second highest in the world. The Asia Pacific excluding Japan is projected to showcase a high growth rate in the global golf rangefinders market over the forecast period, which can be attributed to the highest number of upcoming and finished projects approx. 307 golf courses have been finished whereas approx. 35 projects are still under construction in the region. Moreover, the e-commerce industry in the APEJ region is growing at a rapid pace, which helps the global golf rangefinders market to grow in the region.
Golf Rangefinder Market: Prominent Players
The prominent players of the global golf rangefinders market are Bushnell Outdoor Products, Callaway Golf Company, Nikon, SkyHawke Technologies, ZEISS International and Garmin Ltd. Few prominent brands of the golf rangefinders are Bushnell, Callaway, Garmin, GolfBuddy, Leupold, Nikon and Tour Trek. Key market players are targeting e-commerce websites to enhance their sales channels and increase the availability of golf rangefinders to the customers.
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