13 August 2020: Golf is gaining fast acceptance among country clubs, business professionals, and non-professional golfers. This acceptance and the productivity of golf club manufacturers have improved considerably in the last few years. The social media has taken the attention of women and young players and golf being a high end sport, is catching attention across the globe.
Similarly, tennis golf is a sport that can be played at any age and with the surge in per capita revenue, more individuals can indulge in the game and its benefits. A golf rangefinder is a very significant and assisting tool for players to improve their scores and gauge the distance.
Offline Channel Dominated the Golf Rangefinder Market
On the basis of the distribution channel, the golf rangefinder market is segmented into online and offline channels. In 2018, the offline channel dominated the golf rangefinder with approximately 85% share. In emerging economies such as the U.S., Japan, Germany, England, and Scotland, a large chain of sports stores has been catering to consumers' necessities. For example, in April 2019, Decathlon S.A., foremost French sporting goods retailer, established its store in Emeryville, California. The firm is building to improve the maximum client base over its extensive product contributions across the U.S.
In addition, the online segment is estimated to increase at the fastest CAGR in the forecast period due to the convenience offered to the customers. Furthermore, online retailers comprising AMERICAN GOLF (TRADING) LIMITED and Amazon are adding to this group as a key focus area.
Additionally, smartphone accessibility in established economies such as Scotland, the U.K., Denmark, and Ireland, and the existence of high-speed internet are anticipated to drive the development of the online market over the years to come. Players comprising AMERICAN GOLF (TRADING) LIMITED and Bushnell Corporation are introducing their exclusive online portals where clients can purchase products directly.
Market Insights
Companies are offering technologically progressive products to cater to the increasing demand form professional and amateur players. Furthermore, the companies are accepting strategies such as brand alliance formation and new product launch to gain maximum customer base.
For example, in March 2019, Nikon Corporation announced a new portable laser rangefinder under the brand name ‘COOLSHOT 20 GII’. In addition, the product is provided with 6x multicoated lenses with the measurement variety from 5 meters to 730 meters, with full accuracy.
Leading players in the market are focusing on product invention and R&D in order to increase their market reach. Some of the key players effective in the golf rangefinder market are Nikon Corporation; Bushnell Corporation; Laser Link; Leupold and Stevens, Inc.; Callaway; ZEISS; and SkyHawke Technologies, LLC.
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