This market research report presents a comprehensive analysis of the global golf rangefinder market by product (laser and GPS) and by geography (APAC, Europe, North America, and ROW). Leading vendors in this market are Bushnell, Nikon, Callaway, and Skygolf
Technavio’s market research analysts estimate the global golf rangefinder market, to grow at a CAGR of around 4% between 2016 and 2020. Golf rangefinders are a great tool to help players gauge distances and improve their scores. These handy tools have proven very useful to amateur golfers as they help to measure the distance between the player and the green or the flag. North America is the market leader in the golf rangefinder market with more than 42% market share. Much of this region’s growth comes from the popularity of golf and the rising profitability of golf club manufacturers, such as Callaway and Bushnell.
The new market research report from Technavio provides a breakdown and analysis of the golf rangefinder segments by technology.
“Of late, the app developers are creating golf apps for smartphones using the GPS functionality of smartphones. Smartphone rangefinders have gained popularity because of their zero cost availability. The increasing penetration of smartphones across the world has encouraged manufacturers to adopt the technology into golf. Though not that accurate, these smartphone rangefinders have gained popularity as their basic version is available free of charges,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
As per this market research report, laser rangefinders have the majority of market share at just over 60%. These are popular with professionals as they help to measure distances accurately. Laser rangefinder usage is not impacted by factors like temperature or wind. The reason for its popularity is that there is no need for updates.
The key vendors in the global golf rangefinder market include Bushnell, Nikon, Callaway, and Skygolf. The market is highly competitive with just a few key players competing for market share. Factors like technological advances, changes in consumer preference, and competition are fueling market growth. Vendors have to focus on distinguishing their products to offer unique value to customers to survive.
A more detailed analysis is available in the Technavio report, Global Golf Rangefinder Market 2016-2020.
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