Market Overview

Market Overview:

The global golf GPS market size was significantly robust in 2020 and is expected to register a significantly steady revenue CAGR over the forecast period. Increasing popularity of golf among individuals, rapid development of golf courses across the globe, and launch of technologically advanced products to cater to growing global demand are key factors expected to drive market revenue growth over the forecast period. In addition, availability of products on e-commerce channels and rising penetration of smartphones and high-speed internet are some other key factors expected to contribute to revenue growth of the market going ahead.

Popularity of golf has increased tremendously over the recent past with a massive increase in beginner golfers and increasing number of lapsed golfers returning to the game. Millions of people play on golf course and several others actively participate in off-course golf activities. Golf GPS tool is a crucial tool for both professional and amateur golfers as it provides vital statistics about position of a golfer on the course, distance to the nearest hole, and provides accurate location. Golf GPS devices offer a bird-eye view of the golf course that enables the golfer to strategically play the game. Nearly all golf GPS devices are equipped with shot distance features that allows the player to easily determine how far they need to hit with each club. Golf GPS devices are available in different forms such as smartphone apps, wristband watches, and handheld devices.

Market Dynamics:
Drivers:

Golf GPS devices offer exact location in the golf course, accurate distance of the ball to the center of the green, and saves time and speeds up the game and these are some key factors expected to drive revenue growth of the market over the forecast period. Golf GPS devices helps in preventing unnecessary delays to the game and eliminates the need for guesswork and time-intensive method of determining distances across the golf course. Golf GPS devices are equipped with built-in maps of every holes of every golf course in specific regions and allows users to update map information based on their location. Handheld GPS devices comprise bigger screens and can easily fit into pockets while wristwatch GPS devices offer comprehensive information without needing a separate device. Technological upgrades in wristband watches such as increasing number of golf courses, longer battery life, and additional features have further boosted their adoption among professional and amateur golfers. These factors are expected to contribute significantly to revenue growth of the market going ahead.

Restraints:

Limited number of people can afford golf owing to its exclusivity and expensiveness. Shutdown of golf courses amid the pandemic limited the number of people playing golf owing to increasing financial difficulties which decreased the demand for golf GPS watches. In addition, short life of battery in the GPS devices is also a growth limiting factor and is expected to restrain market growth to a certain extent over the forecast period.

Type Outlook:

Based on type, the global market has been segmented into wristband watch and handheld device. Wristband watch type segment is expected to account for largest revenue share in the global market over the forecast period owing to growing popularity and convenience of wristband watches. Golf watches and tracking devices enable efficient tracking of data such as green or speed swing and offer comprehensive analysis of golf stats and data. GPS golf watches also offer insights into yardages, distance to various hazards, and contain a rechargeable battery. Increasing affordability, convenient usage, and integration of smartphone apps have boosted popularity and demand for wristband watches and this is expected to further contribute to revenue growth of the segment going ahead.

Application Outlook:

Based on application, the global market has been segmented into professional use and amateur use. Amateur use segment is expected to register fastest revenue CAGR over the forecast period attributable to increasing number of beginners playing golf owing to growing popularity and interest among younger individuals across the globe and rising demand for advanced Golf Equipment.

Regional Outlook:

Based on regional analysis, North America is expected to account for largest revenue share in the global market attributable to increasing number of professional and amateur golfers, large number of golf courses across the United States, and robust presence of key manufacturers in the region.

Asia Pacific is expected to register robust revenue CAGR over the forecast period owing to rising popularity of golf, increasing affordability due to growing disposable income, and rising encouragement and education about the game in APAC countries such as China and India. Economic growth in the region, increasing investment to develop golf tourism, and growing participation of younger generation are some other key factors expected to drive revenue growth of the market in the region.

Companies Profiled in the Report:

Major companies in the market include Garmin, Bushnell, GolfBuddy, Callaway Golf, TomTom, SkyHawke Technologies, Izzo Golf, Game Golf, Sonocaddie, Celestron, ScoreBand, and Precision Pro Golf.

Major companies are focusing on technological developments to produce advanced products and expand their product portfolio.

Companies are also actively engaged in forming strategic alliances such as mergers and acquisitions, joint ventures, partnerships, and collaborations to cater to growing global demand and to gain a robust footing in the market.

  • In May 2021, Bushnell unveiled their latest GPS watch, ION EDGE, which is equipped with a touchscreen display, is preloaded with 38,000 worldwide golf courses, has a free-to-download BushnellGolf app for automatic updates, and has battery life of more than 15 hours. According to the company, the watch has been specifically designed to meet the growing needs of golfers who prefer wearing distance measuring devices.

Segments Covered in the Report:

This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2028. The global golf GPS market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global golf GPS market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.

 

For the purpose of this report, Reports and Data has segmented the global golf GPS market on the type, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

  • Wristband Watch
  • Handheld Device

Application Outlook (Revenue, USD Billion; 2018-2028)

  • Professional Use
  • Amateur Use

Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • U.A.E.
    • Israel
    • South Africa
    • Rest of MEA

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