The global watch market size was US$ 62.06 billion in 2021. The global watch market size is forecast to reach US$ 91.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2022 to 2030.
Timekeeping devices, sometimes referred to as watches, are a part of an industry that is made up primarily of companies that manufacture and assemble watches, clocks, time recording devices, timing mechanisms, as well as parts like springs, modules, and jewels that go into these types of devices.
Factors Influencing Market Growth
Impact Analysis of COVID-19
The COVID 19 has negatively impacted the global watch market. The demand for sales declined, which compelled the global market to adopt new technologies and sales strategies. Consequently, the market has adopted a new marketing strategy and developed sales-boosting practices. With these developments, the market reached its target audience. There were several countries that imposed a lockdown to stop the spread of COVID-19, which caused a disruption in the supply chain. Thus, had an adverse impact on the financial side of the industry.
Regional Insights
As of 2021, North America accounted for a majority of global revenue in the watch market. The strong market presence of brands such as Apple, Fossil, and Hager should remain a positive trend for the foreseeable future. In addition, the high obesity rate in the U.S. is forecast to increase fitness awareness among the working-class population, leading to an increase in the purchase of fitness watches.
During the forecast period, Asia Pacific is forecast to grow at the fastest CAGR. In the next few years, a changing lifestyle, urbanization, and a rise in disposable income among middle-class income groups in developing countries such as South Africa, China, and India will upscale the demand for watches.
Leading Competitors
The leading prominent companies profiled in the global watch market are:
Scope of the Report
The global watch market segmentation focuses on Product, Distribution Channel, Category, End-Use, and Region.
Segmentation based on Product
Segmentation based on Distribution Channel
Segmentation based on Category
Segmentation based on End-Use
Segmentation based on Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL WATCH MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL WATCH MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL WATCH MARKET, BY PRODUCT TYPE
5.1 OVERVIEW
5.2 SMART
5.3 FITNESS
5.4 LUXURY
6 GLOBAL WATCH MARKET, BY DISTRIBUTION CHANNEL
6.1 OVERVIEW
6.2 HYPER/SUPERMARKET
6.3 CONVENIENCE STORES
6.4 ONLINE
7 GLOBAL WATCH MARKET, BY CATEGORY
7.1 OVERVIEW
7.2 QUARTZ
7.3 MECHANICAL
8 GLOBAL WATCH MARKET, BY END-USE
8.1 OVERVIEW
8.2 MEN
8.3 WOMEN
8.4 UNISEX
9 GLOBAL WATCH MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3. 1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL WATCH MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
11 COMPANY PROFILES
11.1 FOSSIL GROUP, INCORPORATED
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.2 TITAN LIMITED
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.3 LVMH GROUP
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.4 APPLE INCORPORATED
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.5 FINANCIÈRE RICHEMONT SA
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.6 RALPH LAUREN EUROPE SÀRL
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.7 ROLEX SA
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.8 CASIO AMERICA, INCORPORATED
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.9 THE SWATCH GROUP LIMITED
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.10 PATEK PHILIPPE SA
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.11 CITIZEN WATCH CO., LIMITED
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.12 BUCHERER AG
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.13 SAMSUNG ELECTRONICS CO.
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.14 SEIKO WATCH CORPORATION
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.15 FORTIS WATCHES AG
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
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