Watches are symbol of status and punctuality. A person who wears watch is considered to be responsible and focused. It gives a right impression of a person and indicates that person's taste and wealth. Nowadays, a watch can be used for multiple functions such as checking the pulse rate, number of calories burnt, replying to messages, receiving calls, tracking fitness, etc. These features have raised the popularity of smart watches amongst millions of people across the globe. However, many people prefer wearing traditional luxury watches to portray their wealth and status.
MARKET DYNAMICS
Growing trend of wearing luxury and stylish watches and rising spending capacity of consumers across the globe are the key factors driving the market growth. Additionally, availability of innovative smart watches with diverse features is the factor expected to fuel the demand for smart watches over the forecast period. Furthermore, growing trend of gifting watches on festivals, birthdays, and other special occasions is anticipated to boost the growth of watch market in the forthcoming years.
MARKET SCOPE
The "Global Watch Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the watch market with detailed market segmentation by product type, display, end user, style, and distribution channel. The global watch market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading watch market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global watch market is segmented into product type, display, end user, style, and distribution channel. By product type, the watch market is bifurcated into mechanical and quartz. By display, the watch market is bifurcated into analog and digital. By end user, the watch market is bifurcated into men, women, children, and unisex. By style, the watch market is bifurcated into wrist watch and pocket watch. By distribution channel, the watch market is bifurcated into supermarkets & hypermarkets, specialty stores, online retail, and others.
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 watch market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 concerning five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The 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 watch market from both demand and supply side. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. 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 watch market in these regions.
MARKET PLAYERS
The report covers vital developments in the 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 partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the watch market are anticipated to lucrative growth opportunities in the future with the rising demand for watch in the global market. Below mentioned is the list of few companies engaged in the watch market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the watch market. Besides, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the critical development in the past five years.
- Rolex SA.
- Oakley, Inc.
- Apple Inc.
- The Titan Company Ltd.
- Patek Philippe SA
- Fossil Group, Inc.
- CASIO
- Omega SA
- Tissot SA
- Citizen Watch Co., Ltd.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.