Global Golf Rangefinder Market 2018-2022
About Golf Rangefinder
A golf rangefinder is a handheld device that uses different technologies to track the distance between the club and the flag. It is mostly used with a camera or a gun. The two types of rangefinders are laser golf rangefinders (uses laser beam technology) and GPS golf rangefinders (uses GPS technology).
Technavio’s analysts forecast the global golf rangefinder market to grow at a CAGR of 5.23% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global golf rangefinder market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Golf Rangefinder Market 2018-2022
Technavio recognizes the following companies as the key players in the global golf rangefinder market: Bushnell Outdoor Products, Callaway Golf Company, Nikon, SkyHawke Technologies, and ZEISS International.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is advent of smart golf rangefinders. With the advances in technology and growing popularity of the sport, technology giants and mobile application developers have become one of the key stakeholders in the golf industry with the introduction of smart golf rangefinders.”
According to the report, one driver in the market is approval of DMDs in golf tournaments. According to the golf equipment market analysis, the approval of DMDs in golf tournaments will have a positive impact on the market’s growth during the next few years. To enhance the experience of the game, the golf-governing bodies have allowed the use of DMDs if the local community rules allow it.
Further, the report states that one challenge in the market is high cost of golf equipment like golf rangefinders. Golf is an elite game, enjoyed by affluent sections of the society due to the high cost of the equipment, including rangefinders. Most consumers in the developing and the developed regions are reluctant to buy these products, owing to their high costs. This affects the overall revenue of the global golf rangefinder market.