Press release
Golf Rangefinder Market Is Set To Garner Staggering Revenues By 2031
Transparency Market Research delivers key insights on the global golf rangefinder market. In terms of revenue, the global golf rangefinder market is estimated to expand at a CAGR of 7.7% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global golf rangefinder market.Companies are investing in R&D to launch an exclusive collection of golf rangefinders. Manufacturers are expanding their product lines to meet the increasing demand for golf rangefinders. Moreover, growing popularity of golf rangefinders in developed regions like Europe and North America is expected to boost the market during the forecast period.
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Golf Rangefinder Market: Key Segments
In terms of type, laser rangefinders are expected to lead the global market. Laser rangefinders are more accurate compared to GPS. They provide faster readings and precise distance to any object.
Based on yard range, above 800 segment is expected to lead the global market, in terms of revenue generation and units sold and will continue to dominate in the market, followed by yard range between 400-800 segment during the forecast period. Yard range above 800, when compared with yard range between 400-800 provides more accurate and fast reading. Thus, the market for yard range above 800 is expected to grow at a higher growth rate during the forecast period.
In terms of end-user, professionals are the largest consumers of golf rangefinders as professional golfers use golf rangefinders to improve their performance by obtaining an estimate of the distance and accuracy of their shot. Furthermore, golf rangefinders help professionals to speed up the game by saving the time spent looking for distance indications. Hence, the demand for golf rangefinders from professionals is increasing and expected to rise further during the forecast period.
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In terms of distribution channel, the offline segment is expected to dominate the golf rangefinder market, while the online segment is anticipated to expand at a higher CAGR. The year 2020 saw an improvement in online sales due to restrictions imposed by governments around the world. Convenience and availability of products on online channels is likely to drive the segment during the forecast period.
Golf Rangefinder Market: Prominent Regions
Europe dominated the golf rangefinder market, and in terms of country, the United Kingdom holds the dominating position. Expenditure on golf equipment has increased in Europe and North America, which are the key regions in the golf rangefinder market due to inclination toward the game. The Asia Pacific region, especially Japan and South Korea, will also observe growth and have increased their spending on golf equipment due to popularity of the game and increasing number of players.
Golf Rangefinder Market: Key Players
Key players operating in the global golf rangefinder market are Nikon, Bushnell Corporation, Golf Buddy, Callaway, Garmin, Leupold & Stevens, Inc., TecTecTec, SkyHawke Technologies, Wosports, etc.
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Global Golf Rangefinder Market: Segmentation
Golf Rangefinder Market, by Type
• Laser
• GPS
• Hybrid
Golf Rangefinder Market, by Yard Range
• Below 400 Yard Rangefinder
• Between 400-800 Yard Rangefinder
• Above 800 Yard Rangefinder
Golf Rangefinder Market, by Price
• Low
• Medium
• High
Golf Rangefinder Market, by End-user
• Professionals
• Beginners
Golf Rangefinder Market, by Distribution Channel
• Online
o E-commerce Websites
o Company-owned Websites
• Offline
o Specialty Stores
o Other Retail Stores
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