The report published on global Watch Market is an extensive analysis of the market with a panoramic overview of the industry with regards to market size, market share, revenue growth, opportunities, drivers, restraints. The Watch Market offers precise market scenario crucial real-time information about the developments and advancements in the market to help readers, stakeholders, and investors capitalize on the emerging opportunities. In addition, regional analysis and competitive landscape are covered in the report to offer clear picture of the market growth. Development policies and plans along with manufacturing processes and costs structures are covered in the report.
The global watch market size was USD 62.11 billion in 2020 and is expected to register a CAGR of 4.0% during the forecast period. Market revenue growth is primarily driven by factors such as rise in disposable income among the working population and launch of new and more innovative products with more advanced features and functionalities. Rising demand for aesthetically appealing advanced products, which could enhance consumer experience is another factor expected to boost revenue growth of the market during the forecast period.
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An increasing consumer base is shifting preference to spending on premium quality products such as luxury watches, fitness watches and devices, and smartwatches as well as considering brand value and cost comparison among the options available in the market. Quality, precision, design, luxury, tradition, workmanship, coupled with specialist technology are factors driving demand for luxury watches. Global watch production is dominated by a few branded players with headquarters located in Switzerland, China, and Hong Kong. Luxury watch manufacturers are increasingly investing in development of more innovative products and increasing their presence on online platforms for marketing and branding their respective products.
Competitive Landscape: Competitive landscape of the Watch market is moderately fragmented with a few major companies operating on global and regional levels. Key players are engaged in strategic alliances to expand their respective portfolios and gain a robust footing in the global market. Some of the major companies included in the global market report are Rolex SA, Casio Computer Co., Ltd., Fossil Group, Inc., Citizen Watch Co., Ltd., Titan Company Limited, Apple Inc., Seiko Holdings Corporation, The Swatch Group Ltd., Samsung Electronics Co., Ltd., and Movado.
The COVID-19 impact Analysis: The growing COVID-19 pandemic has led to the weakening demand for coatings in electronics, automotive, construction, and white goods. The market has the capacity to bounce back, but it completely depends on the duration of the lockdown, and also the impact of the virus on the economy. Even though the overall demand of the market is falling, the demand for Watch is expected to rise in the coming years.
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Type Outlook:
Luxury Watches
Smart Watches
Fitness Watches
Others
Dist. Channel Outlook:
Online
Multi Brand store
Hypermarket / Supermarket
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Regional Outlook
For comprehensive understanding of market dynamics, the global Watch Market is analysed across key geographies namely: North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, and Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa). Each of these regions is analysed on basis of market findings across major countries in these regions for a macro-level understanding of the market.
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Watch Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Watch Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Watch Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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