Luxury watches are made up of high quality precious metals along with unique studding. With respect to gender preferences, manufacturers design and develop particular luxury wrist watches for men and women, considering respective specifications. Luxury wrist watch is mainly available in two types, i.e. digital and analog. Considering growing demand, luxury wrist watch market is expected to grow significantly in coming years all over the world.
MARKET SCOPE
The "Global Luxury Wrist Watch Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a special focus on the global market trend analysis. The report aims to provide an overview of the luxury wrist watch market with detailed market segmentation by type, end-user, distribution channel, and geography. The report provides key statistics on the market status of the leading luxury wrist watch market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global luxury wrist watch market is segmented into digital and analog.
- On the basis of end-user, the market is segmented into men and women.
- Based on distribution channel, the market is bifurcated into supermarkets and hypermarkets, specialty stores, online retail and others.
MARKET DYNAMICS
Drivers:
- Growing inclination towards high end lifestyle.
- Rising urbanization and increasing per capita disposable income to boost market growth of luxury wrist watches.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The luxury wrist watch market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the luxury wrist watch market in these regions.
IMPACT OF COVID-19ON LUXURY WRIST WATCHMARKET
The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities. Due to job loss or salary cut, buying capacity of the consumer reduced considerably. Hence, spending on non-essentials was also decreased. All these factors have impacted the luxury wrist watch market negatively.
MARKET PLAYERS
The report covers key developments in the luxury wrist watch market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from luxury wrist watch market are anticipated to lucrative growth opportunities in the future with the rising demand for luxury wrist watch in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the luxury wrist watch market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Lange & S?hne
- Audemars Piguet
- Chopard International SA
- Fossil Group
- KERING
- Patek Philippe SA
- Rolex SA
- The Franck Muller group
- The Swatch Group Ltd
- Vacheron Constantin