Golf Launch Monitor Market Size, Share, Growth, and Industry Analysis, By Type (Personal-Grade Launch Monitor, Professional-Grade Launch Monitor), By Application (Training, Daily Entertainment, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Golf Launch Monitor Market Report Overview

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The global golf launch monitor market size was USD 173.7 million in 2021 and is expected to touch USD 277.17 million by 2031, exhibiting a CAGR of 4.8% during the forecasted period.

Aspiring golf players who want to improve their game, golf launch monitors are an asset, as it helps them to analyze their performance with accurate data. This is where launch monitors come in as the core of most golf simulators; a launch monitor helps one to measure and analyze ball flight data and keep track of shots so that one understands the improvement needed in the game. Launch monitors' advent has wholly changed how golfers practice, learn and get customized fit for equipment. Launch monitors provide golfers with a huge amount of data that was earlier unattainable at the amateur level.

As the golf launch monitor technology advances, many affordable solutions appear on the market so that some options can cover a wide range of budgets. Several things make a great launch monitor: the amount of accuracy, technology size, carry distance, and spin data are among them. Most launch monitors can be used to their full potential at home and on the range by the consumers. With some decent software, a projector, and a screen, it is possible to build a full-proof golf simulator that the user can enjoy around the year.

COVID-19 Impact: Production Halt Impeded Industry Growth Dramatically

The global COVID-19 pandemic has been unprecedented, with golf launch monitors market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. 

The growth of the golf launch monitor market came to a standstill during the pandemic, as production halted and demand for new equipment plummeted to a level of low never seen before. The U.S. was severely affected during the pandemic, which impeded the industry growth, as it houses most golf equipment producers in the region. The lockdown affected the market drastically, leading to the tumbling of shares and investments worldwide.

LATEST TRENDS

"Portability and Convenient Use to Drive Market Growth"

Most golf launch monitors these days are incredibly portable and lightweight, which makes them convenient to use on business trips or tours. With new technology revamping the industry, golf monitors are becoming increasingly accurate in projecting data that will help amateurs improve their games. The market is continuously seeing growth due to several innovations, and accuracy and portability remain some of the reasons for the improved performance of the product. Hence, one can easily practice the sport with these features.

Golf Launch Monitor Market Segmentation

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• By Type

Based on the types, the market categorizes into personal-grade launch monitor and professional-grade launch monitor.

• By Application

Based on the applications, the market categorizes into training, daily entertainment, and others.  

DRIVING FACTORS

"Accurate Data Monitoring to Aid Market Growth"

The right equipment is needed to sort the shortcomings to know what one lacks in a game. Hitting balls before a launch monitor could lead to the perfect set of clubs for one's needs. It's also possible to use launch monitors to assess areas where the swing needs to improve. This aspect is a bit overlooked, but it is a vast improvement opportunity. The launch monitor will accurately measure the swing dynamics and help determine what is going wrong and cause the ball to curve dramatically and not reach the target. Thus, the above factors will drive the golf launch to monitor market growth.

"Companies Using Apps and Mapping Techniques to Drive Market Growth"

Companies such as SkyTrack have brought in a wide range of features that help players to assess their skills and mistakes to the core. These innovations include using an app and mapping techniques to analyze where one lacks the relevant practice, which will aid the consumer in improvement. Consumer preference is growing among amateurs owing to the company's launch of these innovative features, thus helping the golf launch monitor market growth in the industry.

RESTRAINING FACTORS

"Rising Product Costs to Impede Market Growth"

Even though golf launch monitors are becoming affordable for amateurs, they remain exorbitantly expensive due to rising costs after the industry's recession over the last two years. This leaves newcomers with no option, but to practice and hone their skills by themselves, thus not investing in any new equipment required for the sport. Therefore, investors and companies must see that the product rates come down to make them more affordable, thus, leading to massive growth in production and the industry.

Golf Launch Monitor Market Regional Insights

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"North America to Lead Market Share Due to Technological Advancements"

North America will lead the golf launch monitor market share as technology advances and innovations enter the market. With most companies and vital industrial players for the sport based in the U.S., the North American region will see unprecedented levels of the boom in the industry. The largest sports equipment companies by share are based in the region, and consumer demand is also prevalent. Hence, North America will lead both the market share and the market growth.

KEY INDUSTRY PLAYERS

The report analyzes different market players in the industry and information is published after proper research, analysis of trends, key developments, the introduction of new initiatives, and technological developments and innovations. Other aspects of the report include research on the companies, regions, technological developments, and the impact of newly emerging industries along with their risks. The facts in the report may be subject to change, given the situation of market players from time to time.

List of Market Players Profiled

• Foresight Sports (U.S.)
• SkyTrak (U.S.)
• TrackMan (Denmark)
• Full Swing Golf (U.S.)
• FlightScope (South Africa)
• TruGolf (U.S.)
• Ernest Sports (U.S.)
• VOICE caddie (U.S.)
• Rapsodo (Turkey)
• Garmin Approach (U.S.)
• Optishot (U.S.)

REPORT COVERAGE

The report examines elements that affect the demand and supply and estimates dynamic market forces for the forecast period. The report offers drivers, restraints, the latest trends, and industrial developments. After evaluating financial and technical market factors, the report provides an exhaustive SWOT analysis. The research is subject to alteration if key players and analysis of market dynamics change. The information is an approximate estimate of the factors mentioned, taken into consideration after thorough research.