According to the latest report by IMARC Group, titled “Watch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global watch market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global watch market size reached US$ 66.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 93.85 Billion by 2027, exhibiting a CAGR of 5.20% during 2022-2027.
A watch is a portable timepiece containing a case, dial, crown, strap, crystal, lugs, and hands, which is carried in a pocket or worn around the wrist. It is assembled using precious metals, such as silver, gold, and platinum, and ornamented with jewels, including rubies and diamonds. Watches can be of various kinds, such as quartz, mechanical, solar, kinetic, chronometer, spring drive, analog, digital, etc. These devices add a sophisticated and elegant look to the style and personality of an individual. As a result, watches are extensively available in online or offline retail stores and are worn by men, women, children, etc., across the globe.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by type, price range, distribution channel, end user and region.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for watch market
- Strategies of major players and product offerings
The emerging fast fashion trends and the growing popularity of premium accessories as a status symbol are primarily driving the watch market. Besides this, the escalating demand for smart connected devices and the increasing consumer reliance on smartphones are further augmenting the market growth. Apart from this, the introduction of luxury pilot watches among aviation professionals to assist them with mid-flight aeronautical calculations, such as wind correction angle and fuel consumption, is also catalyzing the global market.
Moreover, the development of custom-made watches and the expanding e-commerce industry are acting as significant growth-inducing factors. Furthermore, the elevating product utilization to provide insightful information about the overall health of the user and track the nutritional intake of individuals, on account of the inflating prevalence of chronic and lifestyle diseases, is expected to bolster the watch market in the coming years.
Key Players Included in Global Research Report:
- Apple Inc.
- Casio Computer Co. Ltd.
- Citizen Watch Co. Ltd.
- Fossil Group Inc.
- LG Electronics Inc.
- Movado Group Inc.
- Rolex SA
- Samsung Electronics Co. Ltd.
- Seiko Holdings Corporation
- The Swatch Group Ltd.
- Titan Company Limited
- Xiaomi Corporation.
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COVID-19 Impact Overview:
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Segmentation:
Breakup by Type:
- Quartz
- Mechanical
Breakup by Price Range:
- Low-Range
- Mid-Range
- Luxury
Breakup by Distribution Channel:
- Online Retail Stores
- Offline Retail Stores
Breakup by End User:
- Men
- Women
- Unisex
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
TOC for the Watch Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Watch Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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