The Growing Golf Simulator Market
Photo Source: TrackMan
A “Slice” of Virtual Reality
Q: What do you get when you cross incredible game simulation and exploding virtual reality technology with a game that has been around since the 15th century?
A: A market for golf simulators that is expected to grow with a compound annual growth rate of 8.3%.
And thanks to that growing golf simulator market, opportunities to play courses all over the world are becoming more numerous, more fun – and more affordable!
This market growth can be attributed to an increase in participation around the world, leading to an increasing number of golf facilities centers and the emergence of GPS-based devices that provide serious golfers with accurate insights for challenging 18-hole or 9-hole courses. Moreover, integration of golf simulators with virtual reality technology is expected to increase appeal even more in the coming decade.
Have you ever played Pebble Beach? How about St. Andrews? Or Royal Troon? Well, now you can! In fact, you can play dozens of legendary courses, from Ridgewood in New Jersey to Reykjavik Korpa in Iceland – all from the safety, comfort and convenience of a commercial indoor golf center, a club, or your own home!
The Rise of the Simulator
Golf simulators cost anywhere from $799 to $70,000, depending on how much of an investment you are prepared to make and how seriously you take the game. They allow you to:
Play all year ‘round
Play in any kind of weather
Play day or night
In 2019, the golf simulators market was valued at $1,229 million, and is expected to grow at a compound annual rate of 8.3% through 2029. More than half of that (54%) market is in North America, and around 74% of the golf facility centers are located here.
North America is expected to dominate the golf simulators market for the next decade because of growing participation in the game. As of 2017, around 8.2 million people were golfers, and the number is expected to increase by 25% over the next few years, further driving market growth.
Golf in the Asia-Pacific region tends to be for the rich and high-class society. However, Asia-Pacific is projected to be the fastest-growing market in terms of the adoption of golf and golf simulators, with an expected growth of 12% during the coming decade. South Korea, for example, has emerged as one of the lucrative markets for golf simulators. According to the Korean Golf Association, around 4.3 million individuals – 8% of the total population – are active in the golf industry, and major growth has also been seen in Brazil, Turkey, the UAE, and India.
Photo Source: TrackMan
Commercial Demand
Of all the simulators, more than half are in commercial spaces. You’ll also see them in growing numbers at corporate events, colleges and universities, and private residences. This last category is problematic, probably because of space and cost limitations. A common area required by many home simulators is 10 feet wide by 15 feet long by 10 feet high, and you’ll need at least that if you plan on swinging your driver. But the minimum code for basement ceiling height is only 7 feet, posing a problem in many residential situations.
At the moment, the market is flooded with competition. Names like GolfZon, Trugolf, OptiShot®, TrackMan™, and Full Swing. All provide addictively realistic play, and many are portable, making them even more attractive and driving market growth. Professional golfers are increasingly adopting indoor golf simulators for improving their game. The latest advancements in the simulator with an app-based solution integrated with a smartphone are expected to be one of the better prospects for market growth.
With that, I say “hit ‘em long and straight!” Oh, and don’t throw your clubs.
Photo Source: FullSwing Golf