Golf Simulators Market

Market Overview

The golf simulators market size was valued at USD 1485.23 million in 2022 and is projected to reach USD 3237 million by 2031 at a CAGR of 9.2% during the forecast period (2023–2031).

A golf simulator is a high-tech device that allows golfers to practice their swing in a simulated environment. It is a digital setup that resembles the actual game, allowing you to analyze your swing, see errors, and improve your game without going to the local course. It will enable golfers to play regardless of the weather or day at specially designed facilities.

Companies such as GolfZon, Trugolf, OptiShot, and FullSwing, among others, are significantly providing portable simulators at affordable prices, further driving the market growth. Also, increasing participation of individuals for professional golf, surging adoption of pay per hour model in commercial centers for indoor entertainment, and rising adoption of virtual reality and augmented reality drive the market growth. On the contrary, the high installation cost for the residential and commercial centers restricts the market growth.

Market Dynamics

Market Drivers

A Rising Number of Golf Courses Across the Globe to Increase the Market Demand

People are increasingly looking for more realistic training methods, including golf simulators. The significant growth in the development of new golf courses is one of the key factors driving the popularity of golf simulators. Due to increased individual engagement, the number of planning activities and under-construction projects is expected to rise. The size of the golf simulators market is likely to improve due to this scenario. The market is expected to grow substantially over the forecast period, owing to the rising popularity of golf in Europe. 

The emergence of golf in Ireland and the United Kingdom was fueled by the growing middle-class population and an extensive railway network connecting the capital to the rest of the nation, putting many resort outposts into the reach of tourists. With 151 projects in 28 European countries, Europe is the biggest continent for golf course development, accounting for 28% of golf course improvements globally. Europe built 83 new golf courses between 2016 and 2020. 

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. One of the most important driving factors for the market expansion of golf simulators is the growing participation and support from national bodies.

Market Restraints

Low Awareness of the Game 

The golf industry is mainly concentrated in North America and the European region. Also, there is lesser participation of golf enthusiasts in the Asia-Pacific region owing to a lack of awareness of the game. Furthermore, around 74% of the golf facility centers are concentrated in North America and the European region. This suggests the awareness of playing golf is concentrated in these two regions.

However, the Asia-Pacific region is expected to exhibit positive signs in terms of the adoption of the game. As per the industry analysis, the consumer behavior of the golf game in the Asia-Pacific region tends to be for the rich and high-class society, which is why the game penetration is quite low. Also, commercial centers that offer indoor golf course training centers have limited presence, notably in metro cities. This possesses a greater challenge for the adoption of the golf simulators.

On the contrary, the 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 anticipated to be one of the better prospects for the market growth.

Market Opportunities

Growing Adoption of AR/VR Technology to Boost the Market 

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. In addition, the number of gaming zones that use game simulators to improve the gaming experience is growing. Research proved that the younger generation is still interested in playing complex games with spinning platforms and 360-degree cameras, and vendors began developing portable gaming systems.

Further, plenty of e-sports tournaments across the globe are attracting participants, and gamers are responding by creating new game simulators for gaming zones and e-sports competitions. Next Level Racing donated 20 GTultimate cockpits to the Toyota Velocity Esports Championship in Malaysia in September 2019. The expanding popularity of network sharing and cloud computing and the continued construction of high-speed internet networks increase game simulator demand.

Regional Analysis

By region, the global golf simulators market is segmented into North America, Europe, Asia-Pacific, and the Middle East and Africa. 

The U.S: Largest User of Golf Simulator

North America is expected to dominate the golf simulators market during the assessment period on account of the growing golf participation in the U.S. As per the SR analysis, in 2017, around 8.2 million individuals were golfers, and the number is expected to increase by 25% over the next few years. Furthermore, the U.S. is the leading country in terms of the adoption of golf simulator, further driving the market growth.

Asia-Pacific’s Golf Simulators to Grow with a CAGR of 12.30%   

Asia-Pacific is projected to be the fastest-growing market in terms of the adoption of golf simulators. 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. As per the industry experts, the adoption of golf simulators in the Asia-Pacific region is expected to grow with a CAGR of 12% during the forecast period.

• 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.  

Segmental Analysis

Simulation System Segment to Hold the Largest Market Share

The simulation system segment holds the largest market share and is projected to dominate the market during the forecast period. The simulation system includes a launch monitor, golf screen, and other accessories. The system is mostly developed with integrated software. However, considering the individuals, companies such as SkyTraka and Trackman, are offering customized software to the consumer. The simulation services segment, on the other hand, is projected to grow with the highest CAGR during the forecast period. The simulation services include installation services, consulting services, and maintenance, and other support services.  

Portable Segment to Dominate the Golf Simulators Market

The portable segment dominates the golf simulators market and is presumed to be the fastest-growing segment during the forecast period. The growth can be attributed to the increasing flexibility of tools that provides greater convenience to professional golfers. Additionally, low deployment costs offered by the portable simulators drives the segment growth.

Indoor Segment Holds Close to Three-Quarters of the Market Share

The indoor segment holds the largest market share of more than 60% on account of increasing adoption of indoor portable golf simulator as it helps the professionals to work on their strokes and increase their accuracy. Additionally, surging number of indoor golf facility centers provides an impetus to the segment growth. On the other hand, the outdoor segment is projected to gain momentum during the forecast period.

Recent Developments

• January 2022 – Golfzon Newdin Group announced an expansion with Leadbetter academies to open high-tech indoor golf facilities in the U.S. in 2022.
• June 2021 – SkyTrak announced a new product launch known as a launch monitor for £1995. This is substantially more expensive, but this is due to the product's advanced technology and accuracy. Skytrak has to be a few feet away from your ball, and it works best indoors rather than outdoors.
• January 2020 – A TruGolf Distributor, Sticks and Stones Golf (SSG) announced the installation of new Vista 12 golf simulators in North Jersey Country Club. The distributor delivered, installed, and satisfied all the requirements on time and within the budget.
• May 2018 – Full Swing Golf announced its Pro Series Simulators Line, including infrared dual tracking technology. It also introduced the sports series line, which uses industry-leading camera-based dual tracking technology.
• April 2018 – SkyTrack LLC announced Version 3.1 of the Sky Track App featuring new performance enhancements, including fairway practice, shot optimizer, and skypro integration.