“Rangefinder Market (By Application- Golf, Forestry, Ballistics, Virtual reality. By Type – Ultrasonic, and Laser. By End-Use- Defense, Commercial and Sports. By Range – Very low (<50m), Low ( 50m to 500m), Medium (500m to 2.5km) and High (>2.5km)) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2025”, in terms of revenue, the rangefinder market was valued at US$ 1.06 Billion in 2016, and is expected to reach US$5.69 Billion by 2025, expected to grow at a CAGR of 20.6% from 2017 to 2025.

A rangefinder is a type of device used in the ranging process to evaluate distance from the onlooker to a target. Rangefinder is an innovative grade of technology that has been progessing over the last century. It is a handheld device used for several situations. Rangefinder offers significant benefits for golf, archery and hunting. While hunting, hunters use this device to measure the distance between themselves and the target. By using this device hunters can make a accurate shot to catch hold of their prey. Rangefinders for golf do the prime measuring work. Before every stroke, players use this rangefinder device to choose the right golf club. Laser rangefinder gives the pinpoint flag accuracy to golfers. The laser rangefinder uses a laser beam to measure the distance from the object. Long range laser rangefinders have the capability to measure distance upto 20km. Moreover, in case of ultrasonic rangefinder, the device uses sound waves having higher frequencies to measure distances and avoids obstacles. Ultrasonic rangefinder releases high frequency sound waves to avoid barrier. These types of rangefinder are generally used in robots. An ultrasonic range finder sensor is used in robots to perceive obstacles in its path by making use of the high frequency sound waves. The ultrasonic range finder sensor emits sound wave having frequency of about 40 kHz which reflects back to the sensor after hitting a barrier. Rapid growth of rangefinders in various fields has enhanced the market growth of this device during the projection period of 2016-2025.