London, 04 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the global golf equipment market 2015-2019, which is expected to grow at a CAGR of 2.01% during 2014-2019.
Golf course operators are adopting best practices from parallel sports industries to ensure sustained growth. Operators are now strongly focused on incorporating innovative pricing models as part of their strategy. Successful golf operators have implemented pricing strategies by understanding the requirements of players.
“Vendors use celebrity endorsements to market their products and gain more visibility among the youth,” says Faisal Ghaus, Vice President of Technavio.
“Most product manufacturers have a perception that the market value of a product increases if it is endorsed by a champion of a particular sport.”
Key Market Drivers
- Advances in technology
- Increased disposable income
- Rise in corporate spending
- Influence of social media
Key Market Trends
- Rising number of ultra-high net worth individuals
- Growth of golf tourism
- Awareness about health and fitness
- Celebrity endorsements
Key Market Vendors
- Bridgestone Golf Inc.
- Callaway Golf Co.
- Cleveland Golf Co.
- Nike Inc.
- Taylor Made Golf Co.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
