Global Luxury Watch Market By Product Type (Mechanical Quartz, Chronograph, Automatic, Others), Gender Type (Men, Women), Distribution Channel (Direct, Retail, E-Commerce), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Luxury Watch Market
Global Luxury Watch Market is expected to grow with a stable CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to the growing levels of innovative marketing through online channels which has affected the thinking and preferences of consumers.
Market Definition: Global Luxury Watch Market
Luxury watch can be defined as an exclusive high-end watch that has enhanced quality of products and pristine methods utilized in the production process for the same. Innovative methods of marketing in combination with advanced products offered by the manufacturers have resulted in the high demand for the product. These watches are simply an upgradation over the traditional conventional watches, with advanced features and characteristics which results in its high price.
- Rising innovations and advancements resulting in combination of traditional style and modern technology in watches has resulted in increased adoption for the product; this factor is expected to act as a driver for the market growth
- Adoption of the products as a status symbol and fashion statement which has been a result of rising levels of disposable income is expected to act as a driver for the market growth
- Availability of counterfeit products in the market is a factor that is expected to restrain the market growth
- Increasing levels of prices for the product which has been a result of rise in prices of raw materials and increase in cost of the production process; this factor is expected to act as a restraint to the market growth
Segmentation: Global Luxury Watch Market
- By Product Type
- Mechanical Quartz
- By Gender Type
- By Distribution Channel
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East & Africa
- North America
Key Developments in the Market:
- In January 2019, Audemars Piguet announced the launch of their luxury watch collection under the name “11:59” collection, with a variety of watch operations and moving technique.
- In May 2018, Richemont announced the launch of their new sustainable brand “Baume”. The brand inclusive of unisex affordable, sustainable watches.
Competitive Analysis: Global Luxury Watch Market
Global luxury watch market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of luxury watch market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Luxury Watch Market
Few of the major competitors currently working in the luxury watch market are RADO WATCH CO. LTD.; Rolex; Burberry; OMEGA SA; Festina; LVMH; Richemont; KERING; The Swatch Group Ltd; Fossil Group; Seiko Watch Corporation; Chopard; PATEK PHILIPPE SA; Breitling SA; Audemars Piguet and Bulgari.
Research Methodology: Global Luxury Watch Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure