Watch Market Growth, Trends and Forecasts (2019 - 2024)

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

Market Snapshot

Growth
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR (2019-2024):

9.92%

Fastest Growing Product Type:

Smart Watch

Key Players:

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Market Overview

Global watch market is expected to register a CAGR of 9.92% during the forecast period, 2019 to 2024. 

  • 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 quartz watch, digital watch, and smartwatch through offline and online retail stores for various end-users like women, men, and unisex. 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 Watch
Smart Watch
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

Report scope can be customized per your requirements. Click here.

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.
Smart Watch

To understand key trends, Download Sample Report

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.

region

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

Major Players

  1. Seiko Holdings Corporation
  2. CITIZEN WATCH CO. LTD
  3. Timex Group
  4. The Swatch Group
  5. Fitbit

* Complete list of players covered available in the table of contents below

Concentration

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

    1. 3.1 Market Overview

  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 Watch

      3. 5.1.3 Smart Watch

    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

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

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please Enter a Valid Message!


Complete your payment details below

Shipping & Billing Information

Payment Information