Asia-Pacific Golf Simulators Market

Market Overview

The asia-pacific golf simulators market size was valued at USD 217.82 million in 2021 and is projected to reach USD 587.06 million by 2030 at a CAGR of 11.7% during the forecast period (2023–2031).

A golf simulator allows golf to be played on a driving range or golf course that has been graphically or photographically simulated, typically indoors. A technical system enables some golfers to play regardless of the weather or time of day in converted facilities. The golf simulator is used to practice golf swings without purchasing expensive equipment. These are frequently used as part of a golf training program and can have software installed that simulates the appearance of an actual golf course and the tee shot of a real game. Some golf simulators can be installed indoors and do not need to be situated on grass. Specific characteristics make a golf simulator exceptional. These include a 3D motion system, a high-quality projector, and realistic graphics. The simulator has all the necessary features to maximize your golf video game experience.

Highlights

• By offering, the simulator system segment acquired the largest market share.
• By product type, the portable category acquired the largest market share.
• By installation type, the indoor category dominates the market.
• By end-use, the commercial space segment acquired the largest market share.

Market Dynamics

Asia-Pacific Golf Simulator Market Drivers:

Surge in the Number of Golf Courses

Rapidly escalating construction of new golf courses is one of the primary factors driving the widespread adoption of golf simulators. The number of golf courses in the projected regions has increased significantly in recent years. Due to a rise in golfers, there will likely be an increase in golf course planning and construction projects. This scenario is anticipated to stimulate the market for golf simulators. Consequently, as global interest in golf continues to grow, the market is expected to experience a rapid expansion during the forecast period.

Rising Demand for Gaming Simulators

The demand for gaming simulators is growing as gamers increasingly prefer immersive and realistic games. Gaming simulators have the potential to accommodate these evolving tastes of gamers. Simultaneously, new platforms are being introduced to introduce innovative new games. As a result, market participants are developing advanced gaming simulators. In March of 2019, for instance, Next Level Racing released F-GT Lite, a portable racing cockpit that simulates Formula or GT racing.

Asia-Pacific Golf Simulator Market Restraint:

Tremendous Cost of the Golf Simulator Software

The golf simulator comprises several expensive components, including projectors, screens, mats, and systems. There needs to be more demand and supply for golf simulators, which has restrained the whole market.In addition, golf is one of the most expensive sports to participate in, and while people's living standards have risen steadily over the past 50 years, their disposable incomes are falling, and many have eliminated golf to save money. This factor has also led to a decline in the popularity of sports, which has had a staggering effect on market growth.

Asia-Pacific Golf Simulator Market Opportunities:

Significant Increase in the Utilization of AR/VR Technology

The continued implementation of cutting-edge technologies, such as Virtual Reality (VR), in gaming simulators to provide realistic gaming experiences is anticipated to create new opportunities for market participants during the forecast period. Recognizing that young people are still interested in playing advanced games with rotating platforms and 360-degree cameras, vendors have begun offering portable gaming setups. In September 2017, for instance, Roto VR Ltd. debuted Roto VR Chair at the VR Summit in Seoul, South Korea. Roto VR Chair is a motorized chair that can automatically rotate for 360-degree viewing.

Regional Analysis

Asia-Pacific is anticipated to be the fastest-growing market in terms of golf simulator adoption. Regional market growth is driven by a need for more awareness of the game among millennials, increased commercial centers offering indoor golf services, and product development efforts by market leaders. According to industry experts, the adoption of golf simulators in the Asia-Pacific region is projected to grow at a CAGR of 12% during the forecast period. According to available data, approximately 27% of individuals aged 18–64 have increased their interest in golf, a 9% increase over the past four years. Emerging nations, such as Brazil, Turkey, the UAE, and India, have primarily contributed to the growth. South Korea has emerged as one of the most lucrative golf simulator markets. According to the Korean Golf Association, approximately 8% of the population is involved in the golf industry, comprising about 4.3 million individuals.

Segmental Analysis

The Asia-Pacific golf simulator market is segmented on the basis of information into offering, product type, installation, and application.

Based on the offering, the market is segmented into simulator systems, simulator services, and simulator software.

The simulation system segment holds the largest market share and is anticipated to maintain its dominance at a CAGR of 12.2% over the forecast period.

Based on product type, the market is segmented into portable and built-in.

The portable segment is expected to grow at a CAGR of 12.5% during the forecast period, making it the fastest-growing segment in the golf simulator market.

Based on the installation, the market is segmented into indoor and outdoor.

The indoor segment is anticipated to grow at a CAGR of 12.3% during the period forecast.

Based on application, the global market is segmented into Commercial Space, Corporate Events, Colleges and Universities, and other applications.

The commercial spaces segment is anticipated to grow at a CAGR of 12.3% over the forecast period.