Tech-Powered Golf Gains Momentum: Training Aid Market to Tee Off at 5.1% CAGR | Future Market Insights, Inc.
According to an FMI study, the golf training aids market is expected to experience significant growth in the coming years, driven by increasing popularity, technological advancements, and changing lifestyles.
NEWARK, Del., Dec. 11, 2023 /PRNewswire/ — The global market for golf training aids is estimated to be valued at around US$ 912.7 million by 2024 and is likely to increase at a 5.10% CAGR between 2024 and 2034, reaching a value of US$ 1,501.0 million by 2034.
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The increasing popularity and surging of the golf fanbase drive the demand for tech-infused training aids for golf. These tools assist golfers in refining their swings, improving their putting accuracy, and improving their overall game performance. The demand is also fueled by increased disposable incomes and golf’s appeal as a recreational activity. The ever-increase in golf courses and clubs worldwide also adds to the growth of the golf training aid market.
The fact that golf is a popular sport worldwide significantly influences the product’s demand. Golf training aids have become a vital tool for players of all skill levels since they assist players in getting better at the game.
Numerous market players are creating cutting-edge products that employ motion tracking, sensors, and artificial intelligence (AI). The worldwide golf training market is impacted by the advancements in technology within the sports goods sector.
The growing popularity of outdoor activities, rising wages, and people’s changing lifestyles are likely to fuel market development throughout the forecast period. Prospective golfers are looking for customized training regimens that would help them progress in their game. Sports training personalization would encourage market growth.
A growth in golfers are utilizing online learning environments that include a range of educational films, practice sessions, and assessments. Expanding online sports training courses is projected to increase global market profits.
“The rising popularity of golf, the falling cost of training aids, and the emergence of online golf teaching are driving the market. Moreover, with surging disposable income in the middle class, the demand for golf training kits is robustly increasing in emerging countries.” Says Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry
Key Takeaways from the Golf Training Aids Market:
- The United States golf training market is increasing at a CAGR of 5.0%.
- China’s golf training aids market is projected to grow at a rate of 5.3% until 2034.
- During the forecast period, Germany’s golf practice gear market is expected to achieve a CAGR of 5.2%.
- India’s golf training aids market is anticipated to expand at a CAGR of 5.4% over the projected period.
- The market for golf gear in Australia is dominating the global market at a 5.6% CAGR.
- The sporting goods market was estimated to be dominated by hitting nets, with a market share of 37.10%.
- The online distribution segment is expected to hold a market share of 17.70%.
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The competition for the golf training aids market is intense, where companies are enhancing the training methods using high-quality and tech-infused products. Established and small-sized firms are innovating their products to make them more convenient for beginners. Many companies use social media platforms to focus on organic market expansion and brand recognition. Moreover, partnerships, acquisitions, and collaborations remained the primary growth strategies for key players.
- With the release of Bentley’s new Techline golf collection, the company is focusing on expanding its reach as a lifestyle brand. The collection comprises clubs, baggage, and several pieces of playing equipment.
- Rappaport Golf introduced the Rappaport Golf Swing Analyzer in November 2023, a software platform that leverages AI-powered swing analysis to provide golfers with actionable insights and tailored practice recommendations.
- Under Armour debuted The UA Charged Draw 2 Spikeless Golf Shoes in October 2023. Because these shoes are spikeless, they can be worn on any golf course.
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About the Author:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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