Watch Market - Segmented by Product (Quartz Watch and Digital Watch), End-User (Women, Men, and Unisex), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography - Growth, Trends and Forecasts (2019 - 2024)

Watch Market - Segmented by Product (Quartz Watch and Digital Watch), End-User (Women, Men, and Unisex), Distribution Channel (Offline Retail Stores and Online Retail Stores), and Geography - Growth, Trends and Forecasts (2019 - 2024)

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Watch Market Insight

The global watch market is projected to grow at the rate of 8.2% during the forecast period 2018 to 2023. Adoption of Swiss-made luxury watches, rise in the demand for smart watch especially among youths and change in lifestyle are some of the major factors driving the watch market globally. However, high presence of unorganized players and easy availability of counterfeit products are some of the factors restraining the growth of the watch market.

Rise in Demand for Luxury Watches

From past few years, there’s an increase in adoption of luxury watches such Swiss-made luxury watches owing to its innovative design, superior quality, and craftsmanship. Increasing preference for branded watches with limited edition ranges are responsible for shift in demand for luxury watches.  Rolex, LVMG, Giorgio Armani and The Swatch Group are some of the key vendors offering luxury watches. Thus, with the rise in preferences for luxury watches, the watch market is expected to grow at a faster rate during the forecast period globally. With the increase in preference for branded products among consumers, the importance of organized retailers carrying branded watches have also increased. The penetration of organized retail will also enable consumers to seek information about various brands, compare prices, and quality, which results in better purchase decision.

Increase in Adoption for Sports and Smart Watches

The vendors are launching smart sports watches equipped with a broad range of advanced functionalities such as multisport tracking, heart rate monitor, and GPS capabilities. For instance, the Apple Watch Series 3, Samsung Gear S3 and Samsung Gear Sport have GPS that makes these watches more attractive for the consumers who are indulged into different activities such as biking and running and want to track their distance and speed. In addition to these functions, smart watches also alerts the consumers on incoming calls, emails and text messages with a quick buzz to their wrist, which, in turn, eliminates the  need to carry a smartphone every time. Moreover, vendors such as Apple offer an option of personalization, where consumer can chose the type of straps in terms of color and material. Thus, with such high functionalities, demand for sports and smart watches are expected grow at a faster rate globally during the forecast period.

Increase in Sales of Watches through Online Stores

In the past years, online spending by consumers have rose significantly. The growth opportunity for the sales of various watches through online channel has forced online vendors to improve purchase processes in terms of security and reliability, which, in turn, has propelled the demand for these products. Some of the policies that encourage consumers to purchase online includes secured transactions, cash on delivery options, convenient return policies, integrated and centralized customer service. Most vendors are adopting online retail strategies to reduce cost and increase their margins, which will benefit the market during the forecast period. Vendors such as Fossil Group, Rolex, Ralph Lauren, The Swatch Group have strong presence in offline retail stores as well as online retail stores.

Asia-Pacific to Witness Strong Growth in Watch Market

Asia-Pacific is the fastest growing region in the global watch market. China, Japan, Australia and India are the top contributing countries in the region. Many key are entering into partnerships with the e-commerce retail stores in order to strengthen their distribution network which is likely to drive the market growth in the region. Expanding middle-class population segment, rise in household expenditure, change in lifestyle, increased consumer propensity toward luxury products, and rise in fitness conscious people are some the major factor that will increase the demand for watch market in the region during the forecast period.

Key Developments in the Watch Market

  • April 2018: Fossil Group, Inc. and PUMA signed a global license partnership agreement for the design, development and distribution of PUMA watches and smart watches through 2028.
  • November 2015: Fossil Group acquired Misfit, an innovator in wearable technology and stylish connected devices. The acquisition will enable Fossil Group to expand its addressable market, offering consumers both traditional timepieces and fashionable connected accessories

Watch Market Competitive Landscape

The global watch market is highly fragmented and comprises of many regional and international competitors. There is an intense competition between the key vendors, leading to the introduction of many innovative watches in the market. Major Key Players are Fossil Group, Inc, Lvmh Group, Richemont, Rolex, Apple Inc., Ralph Lauren, The Swatch Group Ltd, Casio America, Inc., Fitbit, Seiko Watch Corporation, Citizen Watch, Samsung, Giorgio Armani S.P.A, Titan, Kering, Patek Philippe Sa, Timex.Com, Inc., And Hermès.

Reasons to Purchase this Watch Market Report

  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst supports, along with the Market Estimates sheet in excel

Customization of Watch Market Research Report

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.

 

1.Introduction             

            1.1 Scope of Study     

            1.2 Study Deliverables

            1.3 Study Assumptions           

            1.4 Research Phases   

2. Watch  Market Insights                   

            2.1 Market Overview  

            2.2 Market Trends      

            2.3 Industry Attractiveness – Porter’s Five Forces Analysis    

                        2.3.1 Bargaining Power of Suppliers

                        2.3.2 Bargaining Power of Consumers

                        2.3.3 Threat of New Entrants

                        2.3.4 Threat of Substitute Products and Services

                        2.3.5 Degree of Competition

3. Watch  Market Dynamics               

            3.1 Drivers      

            3.2 Restraints  

            3.3 Opportunities        

4. Watch  Market Segmentation                      

            4.1 Product Segment   

                        4.1.1 Quartz Watch

                        4.1.2 Digital Watch 

            4.2 Distribution Channel         

                        4.2.1 Offline Retail Stores

                        4.2.2 Online Retail Stores

            4.3 End-User  

                        4.3.1 Women

                        4.3.2 Men

                        4.3.3 Unisex

5. Watch  Market By Geography                    

            5.1 North America Watch  Market Size (2018-2023)  

                        5.1.1 US Watch  Market Size (2018-2023)

                        5.1.2 Canada Watch  Market Size (2018-2023)

                        5.1.3 Mexico Watch  Market Size (2018-2023)

                        5.1.4 Rest of North America Watch  Market Size (2018-2023)

            5.2 Europe Watch  Market Size (2018-2023)  

                        5.2.1 Spain Watch  Market Size (2018-2023)

                        5.2.2 UK Watch  Market Size (2018-2023)

                        5.2.3 Germany Watch  Market Size (2018-2023)

                        5.2.4 France Watch  Market Size (2018-2023)

                        5.2.5 Italy Watch  Market Size (2018-2023)

                        5.2.6 Russia Watch  Market Size (2018-2023)

                        5.2.7 Rest of Europe Watch  Market Size (2018-2023)

            5.3 Asia-Pacific Watch  Market Size (2018-2023)      

                        5.3.1 China Watch  Market Size (2018-2023)

                        5.3.2 Japan Watch  Market Size (2018-2023)

                        5.3.3 India Watch  Market Size (2018-2023)

                        5.3.4 Australia Watch  Market Size (2018-2023)

                        5.3.5 Rest of Asia-Pacific Watch  Market Size (2018-2023)

            5.4 South America Watch  Market Size (2018-2023)  

                        5.4.1 Brazil Watch  Market Size (2018-2023)

                        5.4.2 Argentina Watch  Market Size (2018-2023)

                        5.4.3 Rest of South America Watch  Market Size (2018-2023)

            5.5 Middle East & South Africa Watch  Market Size (2018-2023)     

                        5.5.1 South Africa Watch  Market Size (2018-2023)

                        5.5.2 Saudi Arabia Watch  Market Size (2018-2023)

                        5.5.3 Rest of Middle East & Africa Watch  Market Size (2018-2023)

6. Watch  Market Competitive Landscape                  

            6.1 Most Active Companies    

            6.2 Market Share Analysis      

            6.3 Strategies Adopted by Leading Players     

7. Company Profiles               

            7.1 Fossil Group, Inc  

            7.2 LVMH Group       

            7.3 Richemont            

            7.4 Rolex        

            7.5 Apple Inc. 

            7.6 RALPH LAUREN 

            7.7 The Swatch Group Ltd      

            7.8 CASIO AMERICA, INC.  

            7.9 Fitbit         

            7.10 Seiko Watch Corporation

            7.11  CITIZEN WATCH         

            7.12 SAMSUNG         

            7.13 Giorgio Armani S.p.A     

            7.14 TITAN    

8. Disclaimer              

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