Global Luxury Watch Market, By Type (Analogue Watch, Digital Watch), Gender Type (Men, Women, Unisex), Distribution Channel (Internet Retailing, Departmental Stores, Specialist Retailers, Exclusive Showrooms, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Luxury watch market is expected to grow at a compound annual growth rate of 4.50% for the forecast period of 2021 to 2028. Luxury watch market report analyses the growth, which is currently being growing due to the increasing penetration of different apps and strong presence of different brand options.
Luxury watch is a type of an exclusive high-end watch which has better quality of products and immaculate methods used in the production process for the same. Various inventive methods of advertising in combination with advanced products presented by the producers have resulted in the soaring demand for the product. These watches are minimally an upgradation over the traditional conventional watches, with highly developed features and characteristics which results in its high value.
The rising preference for using luxury watches as a status symbol amongst adults is one of the primary factors driving the luxury watch market growth rate. Moreover, the emerging fashion trends amongst the population which is also highly fueling the growth of the luxury watch market in the forecast period of 2021 to 2028.
Also the market is largely driven by the increasing e-commerce market. Also, the increasing per capita income is also highly impacting the growth of the luxury watch market. While, the growing focus of manufacturers on introducing innovative products and rapidly shifting trend from conventional to golden and diamond watches are also one of the major factor driving the growth of the luxury watch market in the above mentioned forecast period. Likewise, the blend of traditional and modern style of watches has led to the increase in demand for luxury watches. Furthermore, watches with the smart technology are also largely propelling the growth rate of the market. In addition, the increasing demand for premium quality luxury watches in developing regions as well as the new product launches by various companies will further bring various opportunities that will lead to the growth of the luxury watch market in the above mentioned forecast period.
However, the high price of the product and rapid increase in cost of the production process are the major limiting factor for luxury watch market, whereas the, easy availability of counterfeit products have the potential to challenge the growth of the luxury watch market in the forecast period of 2021 to 2028.
This luxury watch market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on luxury watch market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Luxury Watch Market Scope and Market Size
Luxury watch market is segmented on the basis of type, gender type and distribution channel. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on type, the luxury watch market is segmented into analogue watch and digital watch.
- On the basis of gender type, the luxury watch market is segmented into men, women and unisex.
- The distribution channel segment of the luxury watch market is segmented into retailing, departmental stores, specialist retailers, exclusive showrooms and others.
Luxury Watch Market Country Level Analysis
Luxury watch market is analyzed and market size, volume information is provided by country, type, gender type and distribution channel as referenced above.
The countries covered in the luxury watch market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe leads the luxury watch market because of high concentration of buyers who desire products with unique characteristics and brand value in developed economies within this particular region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 because of the changing consumer behavior and rising disposable income, particularly in developing countries such as Japan and China within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Luxury Watch Market Share Analysis
Luxury watch market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to luxury watch market.
The major players covered in the luxury watch market report are RADO WATCH CO. LTD., ROLEX SA, Burberry Limited, OMEGA SA, Festina, Ulysse Nardin, LVMH, Richemont, TITAN LTD., KERING, The Swatch Group Ltd, Fossil Group, Inc., Seiko Watch Corporation, Apple Inc., CHANEL International B.V., Audemars Piguet, Le Brassus, Chopard, PATEK PHILIPPE SA, Breitling, and Bulgari S.p.A., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Luxury Watch Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.