Global Golf GPS Market growing at a CAGR of 6.7% from 2023 to 2030
Category : Semiconductor And Electronics | Published Date : Jun 2023 | Type : Press Release
Key Market Overview
The Golf GPS market is poised for strong expansion and is projected to reach USD 6,743.59 Mn by 2030. The market was sized at USD 4,063.17 Mn in 2022 and is predicted to grow at a compound annual growth rate of 6.7% during the period 2023-2030.
The report highlights the increasing adoption of Golf GPSs owing to the ability of golf GPS devices to offer valuable information including precise yardages and course mapping to enhance the performance of golfers. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the golf GPS market.
Global Golf GPS Market By Overview
Consegic Business Intelligence provided an inclusive research report on the golf GPS market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The wristband watch type segment is anticipated to witness the fastest CAGR in the golf GPS market during the forecast period. The growth is attributed to the increasing adoption of wearable devices including smartwatches and fitness trackers across various industries, including sports and fitness. Additionally, wristband GPS watches offer a high level of convenience and portability to users by eliminating the need to carry a separate device. Golfers easily access GPS data, distance measurements, and other golf-related information with a quick glance at the wrist, further driving the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- Rising interest of individual in golf as a recreational activity or competitive sport is increasing the demand of golf GPS devices to offer valuable information including precise yardages and course mapping to enhance the performance of golfers.
- Advancements in GPS technology including satellite mapping and aerial imagery to enhance the functionality and reliability of golf GPS devices is propelling the market growth.
- Emergence of the advanced transflective display to offer high visibility even in bright sunlight is accelerating the market growth.
Restraints:
- High manufacturing cost associated with golf GPS devices is restraining the market growth.
- Increased reliance of golf GPS watches on battery power to function efficiently is hampering the market growth
Market Segmentation:
| Report Attributes | Report Details |
| By Type | Wristband Watch Type, Handheld Device, Voice-Enabled Device, and Smartphone Applications |
| By Sales Channel | Offline and Online |
| By Application | Professional Use and Amateur Use |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The landscape for Golf GPS Market is highly competitive with major players including Amazfit (Zepp Health Corporation, Ltd.), Bushnell Corporation, Shot Scope Technologies Ltd., and Celestron LLC that have a strong market position in current market circumstances. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the Golf GPS market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Amazfit (Zepp Health Corporation, Ltd.)
- Bushnell Corporation
- Shot Scope Technologies Ltd.
- Celestron LLC
- Garmin International, Inc.
- GolfzonDeca Inc.
- Izzo Golf, Inc.
- Samsung Electronics Co. Ltd.
- SkyHawke Technologies
- TomTom N.V.
- Topgolf Callaway Brands Corp.
