Global golf GPS market is anticipated to witness an exponential growth in the forecast period. Golf GPS is a global locating device that assists in navigate with the golf course as well as saving and recording golf statistics and scores. Golf GPS systems comprise a map of the course, the location on the course, and exact distance between you, your ball and the hole. Golf GPS is used to find golf ball with immediate effect.
The factors that propel the growth of the golf GPS market include increase the demand for golf clubs’ segment, recurring requirement of these equipment in golf, growing consumers disposable income, development in professional and amateur female golfers, and inclination of golf tourism, substantial demand among consumers, and technological advancement.
On the other hand, there are factors that may hamper the growth of the market including busy work timetables leading to lack of any leisure activity and high membership prices resultant in lower registrations impede development. The market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Market could be explored by product type, application, distribution channel, and geography. Market could be explored by product type as Handheld Device Type and Wristband Watch Type. The “Wristband Watch Type” segment led the golf GPS market in 2017 and will continue to lead in the forecast period. The key factors that may be attributed to the growth of market includes increasing demand for smart watches and technological advancement. The key applications that could be explored in the market include Amateur Using and Professional Using. The market could be explored based on distribution channel as Offline and Online.
North America accounted for the major share of the golf GPS industry in 2016 and will continue to lead in the forecast period. The key factors that may attributed to the growth of market includes several numbers of golf course and golfers and in United States, increasing acceptance. North America is followed by European and Asia-Pacific region. Particularly in China, more wealthy people are keen to play golf.
Some of the key players that fuel the growth of the golf GPS market comprise Bushnell, Garmin, Callaway Golf, Golf Buddy, Sky Hawke Technologies, TomTom, Game Golf, Izzo Golf, Celest Ron, Son caddie, Precision Pro Golf and Score Band. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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