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

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

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

4.1 %

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Market Overview

Global watch market is projected to grow at a CAGR of 4.10% during the forecast period (2020-2025).

  • The disposability and affordability of value watch brands make them a popular fashion choice among consumers, across the globe. The lower priced and mid-priced watches are increasingly gaining market traction, due to an 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. The report also studies the market fragmented by price-range as low range (Price Up To USD 500), Mid Range (Price 501 < USD 1,000) and Luxury (Price > USD 1,001). 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
Quartz Watch
Digital
Smart
Others
By Price Range
Low Range (Price Up To USD 500)
Mid Range (Price 501 < USD 1,000)
Luxury (Price > USD 1,001)
By Distribution Channel
Offline Retail Stores
Online Retail Stores
By End User
Women
Men
Unisex
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Spain
United Kingdom
Germany
France
Italy
Russia
Switzerland
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
United Arab Emirates
South Africa
Rest of Middle East & Africa

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Key Market Trends

Surge In Product Innovation

The increase in health awareness among the consumer across the globe has resulted in increased consumer spending on health monitoring gadgets, this has further lead to the increased sales of smart watches as it has wide range of monitoring functionalities as enables users to control music, notifications, walk tracks, heartbeat rates and other functions which increases the growth of the market. The increasing number of working population is more likely to embrace sports and fitness as a part of recreational activity. Also, endurance sports have also paved a strong ground for the enthusiast to grab the varieties in the sports wearable segment, thereby, escalating the smartwatch sales. Consumers have a higher affinity toward adventure traveling, and along with seeking unique experiences, added with a changing technological environment, the market for smart and durable watches is expected to grow at significant rate.

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Asia-Pacific Is Dominating the Watch Market

China is one of the most competitive markets in the world, as it offers huge potential for the manufacturers of luxury watches to acquire and compete. Rolex, Omega, Patek Philippe, Cartier, Channel, Longines, Tissot, Rado, Blancpain, and Piaget are some of the prominent luxury watch manufacturers. According to an estimates released by the Federation of the Swiss Watch Industry, in January 2019, shows that China is now the third biggest export market, seeing a growth of 11.7 % from 2016. Similarly, the exports of Japanese watches increased in units by 5% amounting to 58 million units in 2019. It increased in value by 18%, amounting to CNY 163.7 billion, in relation to the previous year.

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Competitive Landscape

The global watch market is highly fragmented, with the presence of both global and domestic players. Some of the major players in the market include Citizen Watch, Seiko Holdings Corporation, Fossil Group Inc., Casio Computer Co. Ltd, Timex Group BV, and Movado Group Inc. These players are now focusing on social media platforms and online distribution channels for the online marketing and branding of their products, to capture maximum attention of the customers.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Defination

    2. 1.2 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 Quartz Watch

      2. 5.1.2 Digital

        1. 5.1.2.1 Smart

        2. 5.1.2.2 Others

    2. 5.2 By Price Range

      1. 5.2.1 Low Range (Price Up To USD 500)

      2. 5.2.2 Mid Range (Price 501 < USD 1,000)

      3. 5.2.3 Luxury (Price > USD 1,001)

    3. 5.3 By Distribution Channel

      1. 5.3.1 Offline Retail Stores

      2. 5.3.2 Online Retail Stores

    4. 5.4 By End User

      1. 5.4.1 Women

      2. 5.4.2 Men

      3. 5.4.3 Unisex

    5. 5.5 Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

        4. 5.5.1.4 Rest of North America

      2. 5.5.2 Europe

        1. 5.5.2.1 Spain

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 Germany

        4. 5.5.2.4 France

        5. 5.5.2.5 Italy

        6. 5.5.2.6 Russia

        7. 5.5.2.7 Switzerland

        8. 5.5.2.8 Rest of Europe

      3. 5.5.3 Asia Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 Rest of Asia-Pacific

      4. 5.5.4 South America

        1. 5.5.4.1 Brazil

        2. 5.5.4.2 Argentina

        3. 5.5.4.3 Rest of South America

      5. 5.5.5 Middle East and Africa

        1. 5.5.5.1 United Arab Emirates

        2. 5.5.5.2 South Africa

        3. 5.5.5.3 Rest of Middle East & 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 Fossil Group Inc.

      2. 6.4.2 Citizen Watch Co. Ltd

      3. 6.4.3 Titan Company Limited

      4. 6.4.4 Seiko Holdings Corporation

      5. 6.4.5 The Swatch Group Ltd

      6. 6.4.6 Casio Computer Co. Ltd

      7. 6.4.7 Fitbit Inc.

      8. 6.4.8 Timex Group USA Inc.

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

** Subject to Availability

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