Luxury Watches Market Size Is Set To Fly High In Years To Come | CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financire Richemont SA

The global luxury watches market was valued at $43,661.9 million in 2019, and is estimated to reach $51,317.3 million by 2027, registering a CAGR of 4.50% from 2021 to 2027. Luxury watches are key entities showcasing the luxurious lifestyle of people. High price of luxury watches is due to excellent quality, exclusivity, high durability, and are only affordable for the small group of people. Increase in number of billionaires, rise in their wealth, and growth of high net worth individual population are majorly attributed to the growth of the luxury watches market during the forecast period. Furthermore, increasing demand for high-end mechanical watches in Asia and from affluent millennial is expected to favor the growth of the market.

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However, traditional luxury watch manufacturers are challenged by new digital-first analog watch brands and smart watch companies. Therefore, many traditional luxury watch companies are focusing on vintage-inspired design and extending their product portfolio with digital & electronic luxury watches. High-end mechanical watch manufacturers are focusing on new product launches and developing digital sales and marketing channels to grow. Online collaborations with influencers and bloggers are becoming popular mediums to interact with potential customers, which help to understand the consumer behavior and perception about the products.

The report segments the global luxury watches market into type, end user, distribution channel, and region. By type, it is categorized into mechanical watches and electronic watches. Depending on end user, it is fragmented into men and women. On the basis of distribution channel, it is differentiated into online store, single brand store, and multi brand store. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Switzerland, Russia, Spain, Italy, France, Germany, the UK, Rest of Europe), Asia-Pacific (China, Japan, Hong Kong, India, Singapore, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global luxury watches market, with current and future trends to elucidate the imminent investment pockets in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis from 2019 to 2027 is provided to showcase the financial competency of the global luxury watches market.
- Porter's five forces model of the industry illustrates competitiveness of the market by analyzing various parameters such as threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the global luxury watches market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights business practices followed by leading market players across various regions.

The major players operating in the market are CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financire Richemont SA, Fossil Group Inc., LVMH Moet Hennessy -Louis Vuitton, Movado Group Inc., Patek Philippe SA, Rolex SA, Seiko Holdings Corp., and the Swatch Group Ltd.

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KEY MARKET SEGMENTS
- By Type
o Mechanical Watches
o Electronic Watches

- By End User
o Men
o Women

- By Distribution Channel
o Online Store
o Single Brand Store
o Multi Brand Store

- By Region
o North America
? U.S.
? Canada
? Mexico
o Europe
? Switzerland
? Russia
? Spain
? Italy
? France
? Germany
? UK
? Rest of Europe

o Asia-Pacific
? China
? Japan
? Hong Kong
? India
? Singapore
? South Korea
? Australia
? Rest of Asia-Pacific

o LAMEA
? Latin America
? Middle East
? Africa

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