Golf GPS Equipment Market Size, Share, Growth, and Industry Analysis, By Type (Wristband Watch Type, Handheld Device Type), By Application (Professional Using, Amateur Using), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Report Overview

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The global golf GPS equipment market size was USD 367.5 million in 2022. As per our research, the market is expected to reach USD 425 million in 2028, exhibiting a CAGR of 2.5% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with Golf GPS equipment market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Golf GPS equipment refers to devices or systems that use the Global Positioning System (GPS) technology to provide golfers with accurate and real-time information about distances on a golf course. This information helps golfers make informed decisions about club selection and shot strategy.

The market for golf GPS equipment has grown significantly over the years due to the increasing adoption of technology in sports and recreational activities. Golfers of all skill levels can benefit from these devices to enhance their performance and enjoyment of the game.

COVID-19 Impact: Pandemic Hampered the Demand for Market due to Lockdown Imposed

The golf industry, like many others, experienced significant disruption due to the pandemic. Lockdowns, travel restrictions, and social distancing measures led to the closure of golf courses and pro shops in various regions, resulting in a sharp decline in demand for golf GPS equipment. The pandemic led to disruptions in global supply chains, including the manufacturing of electronic components and devices. These delays could have affected the production and availability of golf GPS devices. Transportation and shipping challenges also emerged due to restrictions and reduced workforce in various parts of the world. This could have impacted the timely delivery of products to retailers and consumers. Many golf courses faced financial challenges due to closures and restrictions on the number of players allowed on the course at a given time. This financial strain could have indirectly affected their ability to invest in new equipment, including GPS devices.

Latest Trends

"Advanced Data Analytics and Metrics to Fuel Market Growth"

Golf GPS equipment was becoming more sophisticated in terms of data collection and analysis. Players and coaches were looking for devices that not only provided distance information but also tracked various performance metrics such as swing speed, ball speed, launch angle, spin rate, and more. This data was being used to fine-tune player performance and improve their overall game. Many golf GPS devices were being designed to integrate seamlessly with smartphone apps. These apps offered additional features such as course mapping, score tracking, and social sharing. Players could use their smartphones as a central hub for managing their game and accessing detailed course information. Golf equipment was incorporating real-time data updates for courses. This included features like automatic whole recognition, live weather updates, and course condition alerts. Players could make more informed decisions based on current course conditions.

Segmentation

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• By Type

    According to type, the market can be segmented into wristband watch type, handheld device type.

• By Application

Based on application, the market can be divided into professional using, amateur using.

Driving Factors

"Rising Interest in Golf to Drive Market Growth"

The overall popularity of golf has a direct impact on the demand for golf GPS equipment. As more individuals take up golf as a recreational activity, the demand for tools that can help improve their performance and enjoyment on the course increases. Golfers are becoming increasingly data-driven in their approach to improving their game. Golf GPS tool that offers comprehensive data on shot distances, course layouts, hazards, and other performance metrics can attract players looking to analyze their game and make more informed decisions. Golf GPS devices provide golfers with quick and easy access to information about the course. They eliminate the need for manual distance estimation and offer insights into course layouts, helping players make strategic decisions on club selection and shot placement. Many golf GPS devices have started integrating with smartphone apps to provide additional functionalities. These apps can offer features like score tracking, social interaction among golfers, and the ability to review rounds after they're completed. The integration with smartphones enhances the overall user experience and connectivity. Both professional golfers and amateur players use golf equipment. Professional golfers may use advanced GPS systems to fine-tune their strategies, while amateur players appreciate the assistance in navigating unfamiliar courses and improving their game. All these factors have contributed to golf GPS equipment market growth.

Restraining Factor

"High Costs to Restrict Market Growth "

Golf GPS equipment can be relatively expensive, including both the initial purchase cost and potential subscription fees for advanced features or course updates. This cost could limit the adoption of such equipment, especially among casual or budget-conscious golfers.

Regional Insights

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"North America Anticipated to Drive Market Owing to the Golf Status in the Region"

North America holds leading position in golf GPS equipment market share. The region has a substantial golfing population and a strong market for golf-related products and equipment, including GPS devices for golf. The popularity of golf in this region, along with the disposable income of its players, has contributed to the growth of the market.

Key Industry Players

"Adoption Innovative Strategies by Key Players to Influence Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Garmin, Bushnell, GolfBuddy, Callaway Golf, TomTom, SkyHawke Technologies, Izzo Golf, Game Golf, Sonocaddie, Celestron, ScoreBand, Precision Pro Golf. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Garmin (U.S.)
• Bushnell (U.S.)
• GolfBuddy (U.S.)
• Callaway Golf (U.S.)
• TomTom (U.S.)

Report Coverage

This report examines an understanding of the Golf GPS equipment market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.