Global Watches Market By Product Type (Smart Watches, Fitness Watches and Luxury Watches), Product Design (Square watches, Rectangular watches, Round watches and Others), Distribution Channel (Hypermarket/ Supermarket, Convenience Stores, Other Offline Modes and Online Stores), Price Range (Economic, Medium-range and Premium), Operation (Quartz and Mechanical), End User (Male, Female and Unisex), 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
Market Analysis and Insights of Watches Market
The watches market is expected to be growing at a growth rate of 8.00% in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the factors responsible for fostering the growth of watches market. This rise in watch market value can be attributed to the various factors such as rising awareness regarding the benefits of using smart watches, increased focus on the technological advancements and product innovations by the manufacturers, and increasing personal disposable income. Therefore, the watches market value, USD 115000 million in 2020, will rocket up to USD 212856.97 million by 2028.
A watch is a timepiece that is worn on the wrist. Watches help an individual to keep a track of time. Watches are available in a wide range of designs, sizes, shapes, and price ranges.
Rising westernization, modernization, and increasing personal disposable income are the major factors fostering the growth of watches market. The emergence of smart watches and rising trend of fitness are some other watch market growth determinants. Increasing consumer preference for advanced features in the watches has further propelled the manufacturers to foster large scale availability of different varieties of watches in the market. High demand for wearable devices and trackers devices to track several activities will also create lucrative and remunerative watches market growth opportunities in the long run.
On the flip side, high costs associated with luxury watches will pose a major challenge to the growth of market in the long run. Also, high costs of smart watches with low battery life will further derail the market growth rate. Availability of watches at reasonable costs by smaller players will also create hindrances for the market and dampen the market growth rate.
This watches market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 watches market, contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Watches Market Scope and Market Size
The watches market is segmented on the basis of product type, product design, distribution channel, price range, operation, and end use. 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.
- On the basis of product type, the watches market is segmented into smart watches, fitness watches and luxury watches.
- On the basis of product design, the watches market is segmented into square watches, rectangular watches, round watches, and others.
- On the basis of distribution channel, the watches market is segmented into hypermarket/ supermarket, convenience stores, other offline modes, and online stores.
- On the basis of price range, the watches market is segmented into economic, medium-range, and premium.
- On the basis of operation, the watches market is segmented into quartz and mechanical.
- On the basis of end user, the watches market is segmented into male female, and unisex.
Watches Market Country Level Analysis
The watches market is analysed and market size, volume information is provided by country, product type, product design, distribution channel, price range, operation, and end use as referenced above.
The countries covered in the watches market report are the 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.
North America dominates the luxury jewellery market and will continue to extend its dominance during the forecast period owing to rising fitness awareness among the working class population and presence of major players in the region. Asia-Pacific region is however set to score the highest compound annual growth rate (CAGR) for the forecast period. Rising personal disposable income, rapid globalization, westernization, modernization, and ever-rising young population are some major market growth determinants for this region. Rising availability of premium jewellery will also foster the growth of market in this region. Rising inclination towards luxury goods owing to increased purchasing power parity and increasing preference for healthy lifestyle will also create lucrative and remunerative market growth opportunities.
The country section of the watches market 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 Watches Market Share Analysis
The watches 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 watches market.
The major players covered in the watches market report are Apple Inc., Alphabet Inc, Sony Corporation, SAMSUNG, Giorgio Armani S.p.A, Microsoft, LG Electronics, Xiaomi., RADO WATCH CO. LTD., ROLEX SA, Burberry Limited, OMEGA SA, Festina, Ulysse Nardin, Fossil Group, Inc.,, TITAN LTD., KERING, The Swatch Group Ltd, Bulgari S.p.A. and CHANEL 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.
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