According to the new market research report “Golf Course Simulator - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Golf Course Simulator market size is projected to reach USD 1.79 billion by 2029, at a CAGR of 10.1% during the forecast period.
- Global Golf Course Simulator MarketSize(US$ Million), 2018-2029
Source: QYResearch, "Golf Course Simulator - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Golf Course Simulator Top25Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, "Golf Course Simulator - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
This report profiles key players of Golf Course Simulator such as GOLFZON, Full Swing Golf, SG-Golf, Okongolf.
In 2022, the global top five Golf Course Simulator players account for 53.0% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Golf Course Simulator.
Market Drivers:
D1: Technological development. The simulator space has been booming in the last ten years as launch monitors have become more affordable and accurate. Additionally, using cutting-edge technology, such as Virtual Reality (VR) in-game simulators to deliver realistic gaming experiences is predicted to benefit market players over the forecast period.
D2: Downstream application drives demand growth. Golf Simulators aren’t just for commercial businesses or the rich and famous. Further, the rising popularity of golf athletic events among the general population has encouraged golf groups to launch countrywide programs to build accessible, scaled-down, and cost-effective golf facilities to encourage participation.
D3: Asia-Pacific is projected to be the fastest-growing market in terms of the adoption of indoor golf. Lack of awareness of the game among millennials, increasing number of commercial centers offering indoor golf services, and product development activities by leading market layers drives the regional market growth. South Korea to Emerge as One of the Lucrative Markets for the Golf Simulators. As per the data available, about 27% of individuals aged 18–64 have increased their interest in golf, which accounted for an increase of 9% in the last four years. The growth has been witnessed majorly in emerging countries, such as Brazil, Turkey, the UAE, and India. South Korea has emerged as one of the lucrative markets for golf simulators. As per the Korean Golf Association, around 4.3 million individuals are active in the golf industry, which accounts for around 8% of the overall population.
Restraint:
R1: There is lesser participation of golf enthusiasts in the Asia-Pacific region owing to a lack of awareness of the game.
R2: Local regulations limit.
R3: Commercial centers that offer indoor golf course training centers have limited presence, notably in metro cities. This possesses a greater restraint for the adoption of the indoor golf equipment.
Opportunity:
O1: Entertainment needs. People's demands for entertainment methods are becoming increasingly diverse, and golf course simulators can become a novel entertainment option that attracts more people to try.
O2: Teaching and training. Golf course simulators can be used for teaching and training, providing golf enthusiasts with a more convenient learning and practice environment.
O3: Healthy lifestyle. As people pursue a healthy lifestyle, golf course simulators can become an option that combines fitness and entertainment, attracting more users who pay attention to health.
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