Watch Market - Growth, Trends, and Forecast (2020 - 2025)

Global Watch Market is segmented by Product Type (Analogue Watch and Digital Watch), by End-User (Women, Men, and Unisex), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

9.92 %

Major Players:

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Market Overview

Global watch market is projected to grow at a CAGR of 9.92% during the forecast period.

    • The lower-priced and mid-priced watches are increasingly gaining market traction, due to increasing demand for ‘value-for-product’ watches and accessories among women. 
    • The demand for digital watches is stronger among young consumers, as they are more aware of smartphone technology. Popular brands, like Casio and Timex, have launched their own product lines, such as G-Shock and Command Watch collections.
    • Brands, like Casio and Timex, are continuously investing in R&D for product innovations to blend some of the features of smartwatches with the long-lasting battery life of digital watches, while offering the product in attractive design and affordable prices.

     

    Scope of the Report

    Global watch market offers a range of products, including analogue watch and digital watch. By End-User, study covers revenue generated through women, men, and unisex. Additionally, the report spans market revenue of distribution channels broadly offline retail stores and online retail stores. The study also covers the global level analysis of the major regions, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

    By Product Type
    Analogue Watch
    Digital Watch
    Smart Watch
    Others
    By End-User
    Women
    Men
    Unisex
    By Distribution Channel
    Offline Retail Stores
    Online Retail Stores
    Geography
    North America
    United States
    Canada
    Mexico
    Rest of North America
    Europe
    Spain
    United Kingdom
    Germany
    France
    Italy
    Russia
    Rest of Europe
    Asia Pacific
    China
    Japan
    India
    Australia
    Rest of Asia-Pacific
    South America
    Brazil
    Argentina
    Rest of South America
    Middle East and Africa
    South Africa
    United Arab Emirates
    Rest of Middle East and Africa

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    Key Market Trends

    Surge in Demand for Smartwatches

    The high penetration rate for wearable technologies in the United States and European countries, like the United Kingdom, Germany, France, Italy, and others, is contributing to the growth of the smartwatch segment. The key players are embarking on mergers and acquisitions as one of their key strategies, to achieve consolidation and to optimize their offerings. For instance:

    • In 2015, Fossil acquired wearable maker, Misfit, for USD 260 million. With the acquisition of Misfit, the Fossil Group is uniquely positioned to lead the convergence of style and technology, to become the fashion gateway to the high-growth wearable technology and connected device markets.

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    North America and Europe Dominating the Watch Market

    United States watch market is offering a wide range of choices for its consumers, which includes cheaper watches from Hong Kong that are priced below USD 500. Depending on the number of apps and features available, the entry-level smartwatches are priced at USD 120-200, while middle-range watches are priced at USD 300-500.  Brands like Apple have launched smartwatches at an entry price of USD 350. This has made the product accessible to a larger segment of consumers. Moreover, the British watchmaking industry is growing rapidly, with more players providing attractive watches with a stainless-steel case, scratch-resistant sapphire glass, quick-change strap system, and water resistance property.

    To understand geography trends, Download Sample Report.

    Competitive Landscape

    Global watch market is highly fragmented and comprises regional and international competitors. The market is dominated by players, like Citizen Watch, Seiko Holdings Corporation, Fossil Group Inc., Casio Computer Co. Ltd, Timex Group BV, and The Swatch Group.  These players are now focussing on social media platforms and online distribution channels. for the online marketing and branding of their products, to attract more customers.

    • In January 2019, Google bought smartwatch technology, in a deal worth USD 40 million, from Fossil. Along with the IP, a section of Fossil's R&D team, focused on wearables, will join Google

    Table Of Contents

    1. 1. INTRODUCTION

      1. 1.1 Study Deliverables

      2. 1.2 Study Assumptions

      3. 1.3 Scope of the Study

    2. 2. RESEARCH METHODOLOGY

    3. 3. EXECUTIVE SUMMARY

    4. 4. MARKET DYNAMICS

      1. 4.1 Market Drivers

      2. 4.2 Market Restraints

      3. 4.3 Porter's Five Forces Analysis

        1. 4.3.1 Threat of New Entrants

        2. 4.3.2 Bargaining Power of Buyers/Consumers

        3. 4.3.3 Bargaining Power of Suppliers

        4. 4.3.4 Threat of Substitute Products

        5. 4.3.5 Intensity of Competitive Rivalry

    5. 5. MARKET SEGMENTATION

      1. 5.1 By Product Type

        1. 5.1.1 Analogue Watch

        2. 5.1.2 Digital Watch

          1. 5.1.2.1 Smart Watch

          2. 5.1.2.2 Others

      2. 5.2 By End-User

        1. 5.2.1 Women

        2. 5.2.2 Men

        3. 5.2.3 Unisex

      3. 5.3 By Distribution Channel

        1. 5.3.1 Offline Retail Stores

        2. 5.3.2 Online Retail Stores

      4. 5.4 Geography

        1. 5.4.1 North America

          1. 5.4.1.1 United States

          2. 5.4.1.2 Canada

          3. 5.4.1.3 Mexico

          4. 5.4.1.4 Rest of North America

        2. 5.4.2 Europe

          1. 5.4.2.1 Spain

          2. 5.4.2.2 United Kingdom

          3. 5.4.2.3 Germany

          4. 5.4.2.4 France

          5. 5.4.2.5 Italy

          6. 5.4.2.6 Russia

          7. 5.4.2.7 Rest of Europe

        3. 5.4.3 Asia Pacific

          1. 5.4.3.1 China

          2. 5.4.3.2 Japan

          3. 5.4.3.3 India

          4. 5.4.3.4 Australia

          5. 5.4.3.5 Rest of Asia-Pacific

        4. 5.4.4 South America

          1. 5.4.4.1 Brazil

          2. 5.4.4.2 Argentina

          3. 5.4.4.3 Rest of South America

        5. 5.4.5 Middle East and Africa

          1. 5.4.5.1 South Africa

          2. 5.4.5.2 United Arab Emirates

          3. 5.4.5.3 Rest of Middle East and Africa

    6. 6. COMPETITIVE LANDSCAPE

      1. 6.1 Most Active Companies

      2. 6.2 Most Adopted Strategies

      3. 6.3 Market Share Analysis

      4. 6.4 Company Profiles

        1. 6.4.1 Seiko Holdings Corporation

        2. 6.4.2 Casio Computer Co. Ltd

        3. 6.4.3 Citizen Watch Co. Ltd

        4. 6.4.4 Fossil Group Inc.

        5. 6.4.5 Timex Group

        6. 6.4.6 The Swatch Group

        7. 6.4.7 Fitbit

        8. 6.4.8 Samsung Group

      5. *List Not Exhaustive
    7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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