Press release
Watch Market Share 2023-2028 | Top Brands: Rolex SA, CASIO, Fossil , Titan
watch Market Share 2023
The growing economic prosperity, changing fashion and lifestyle trends, significant technological advancements, rising middle-class population, increasing adoption of premium accessories, strong marketing and branding, and rapid expansion of online retail and e-commerce are some of the major factors propelling the market.
Key Trends/Drivers affecting the growth of the global Watch Market
At present, the escalating demand for specialized sports watches among athletes and outdoor enthusiasts that offer features like a global positioning system (GPS), heart rate monitoring, altimeters, and barometers to support various activities, such as running and hiking, represents one of the key factors supporting the growth of the market. Besides this, the increasing need for watches to check the time during working hours without distractions is strengthening the market growth. Additionally, there is a rise in the demand for water-resistant watches with extended battery life among individuals for performing underwater activities. This, coupled with increasing preferences for luxury watches on account of inflating income levels of individuals, is propelling the market growth. Moreover, the growing demand for smartwatches, as they offer health and fitness tracking features, such as step counting, oxygen and blood pressure monitoring, calorie counting, and sleep tracking, that benefit individuals stay healthy and achieve their wellness goals, along with the rising awareness about the importance of maintaining a healthy body among people, is positively influencing the market. In line with this, the increasing focus on watches manufactured from sustainable and eco-friendly materials that align with sustainability goals is contributing to the market growth. Furthermore, the rising demand for customized and personalized watches to provide an attractive and unique look to people is offering lucrative growth opportunities to industry investors. Apart from this, the increasing utilization of watches for gifting purposes on special occasions is bolstering the market growth. In addition, the wide availability of watches through online and offline distribution channels across the globe, along with the rising demand for innovative watches due to changing preferences of individuals is impelling the market growth.
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About the Watch Industry:
A watch is a compact device that is typically worn on the wrist and serves the fundamental purpose of displaying the time. It comprises analog, digital, smart, chronograph, luxury, and pilot watches that are available in various styles, designs, and functions, catering to diverse preferences and needs. It is manufactured from several materials, such as stainless steel, leather, rubber, fabric, ceramics, gold, and platinum. It is also worn as a fashion accessory that complements the style and outfit of individuals and enhances their overall appearance. It is cost-effective, reliable, portable, comfortable, and easy to use and can withstand wear and tear. It allows individuals to manage their daily schedules, appointments, and activities efficiently. It also enables people to further customize their timepieces to suit different occasions and preferences. Besides this, it assists in providing instant access to the current time and reducing the need to check a smartphone or other devices constantly during meetings and social gatherings. As it is beneficial in offering enhanced durability and reduces the need for frequent maintenance costs, the demand for the watch is rising around the world.
Explore Full Report with Table of Contents: https://www.imarcgroup.com/watch-market
Global Watch Market Report Segmentation:
The report is organized into distinct sections as follows:
Breakup by Type:
• Quartz
• Mechanical
Quartz dominates the market
Breakup by Price Range:
• Low-Range
• Mid-Range
• Luxury
Low-range holds the largest share in the market
Breakup by Distribution Channel:
• Online Retail Stores
• Offline Retail Stores
Offline retail stores dominate the market
Breakup by End User:
• Men
• Women
• Unisex
A detailed breakup and analysis of the market based on the end user has also been provided in the report. This includes men, women, and unisex.
Regional Insights:
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa
Asia Pacific exhibits a clear dominance in the market
Leading Companies Operating in the Global Watch Industry:
• Apple Inc.
• CASIO COMPUTER CO., LTD.
• Citizen Watch Co. Ltd.
• Rolex SA
• Samsung Electronics
• Seiko Holdings Corporation
• The Swatch Group Ltd.
• Fossil Group, Inc.
• LG Electronics Inc.
• Movado Group, Inc
• Titan Company Limited
• Xiaomi Corporation.
Other Key Points Covered in the Report:
• COVID-19 Impact
• Porters Five Forces Analysis
• Value Chain Analysis
• Strategic Recommendations
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise
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