NEW YORK, Feb. 2, 2023 /PRNewswire/ -- The global watch market size is estimated to increase by USD 9,626.37 million from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 2.62% during the forecast period. The report includes historic market data from 2017 to 2021. In 2017, the market was valued at USD 66833.37 million. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. To know more Request a sample report.

Global watch market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria

• Adoption rates

• Adoption lifecycle

• Drivers of price sensitivity

Global watch market – Vendor analysis

Vendor Offerings -

• Breitling SA - The company offers a wide range of watches for men and women such as SuperOcean, Navitimer, Top Time, Chronomat.

• CASIO Computer Co. Ltd. - The company offers a wide range of watches for men and women such as G-Shock, Baby-G, Edifice, Pro-Trek.

• Citizen Watch Co. Ltd. - The company offers a wide range of watches for men and women such as Promaster Skyhawk, PCAT, Calendrier, Bianca.

• Compagnie Financiere Richemont SA - The company offers a wide range of watches for men and women under its brand Jaeger-LeCoultre.

• For Details on vendor and its offerings – Buy the report!

Vendor landscape

The global watch market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer watch in the market are ASOROCK Watches LLC, Breitling SA, CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Daniel Wellington AB, DIFFUSIONE ITALIANA PREZIOSI S.P.A, Fossil Group Inc., Le petit fils de L.U. Chopard and Cie SA, LVMH Moet Hennessy Louis Vuitton SE, Magnus Brand, Movado Group Inc., Patek Philippe SA, Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., SUED Watches, Talley and Twine Watches LLC, The Swatch Group Ltd., and Titan Co. Ltd. and others.

The global watch market is at its growing stage. The vendors in the market follow some criticality of inputs, which include R&D, technology, and brand, to compete with other vendors. They invest significantly in procuring high-quality raw materials and focus on R&D to manufacture advanced watches. They also focus on building brand and brand equity to differentiate themselves from competing brands.

Global watch market - Segmentation assessment

Segment overview

Technavio has segmented the market based on product (quartz and mechanical) and distribution channel (offline and online).

• The quartz segment will account for a significant share of the market's growth during the forecast period. Evolving fashion trends and an increase in disposable household incomes will propel the growth of the market. The rising number of new product launches will also drive market growth. Manufacturers are introducing high-end quartz watches with advanced technologies. Hence, new product launches and growing technology are expected to propel the growth of the watch market during the forecast period.

Geography overview

By geography, the global watch market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global watch market.

• APAC is estimated to account for 54% of the growth of the global market during the forecast period. The growth of the watch market is mainly attributed to the introduction of global brands and products and the rising adoption of premium watches. The rising disposable income and the changing customer preferences will increase the demand for watches in APAC during the forecast period.

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Global watch market – Market dynamics

Leading drivers - The rising demand for premium watches is notably driving the market growth. Vendors in the apparel, accessories, and luxury goods industry are focusing on R&D activities and innovations to survive in the competitive market environment. Major product innovations are leading to premiumization in terms of technologies, performance, features, and designs. Customers prefer watches with premium designs. Hence, vendors innovate their product ranges and expand their product lines to meet such evolving customer needs. Customers spending on fashion accessories, with the rising purchasing power and increasing disposable income. Therefore, the increasing product premiumization, along with the growing customer spending on fashion accessories, will drive value sales in the global watch market during the forecast period.

Key trends - Enhanced vendor engagement through social media and other entertainment channels is a key trend influencing the market. Social media platforms, such as Facebook, Twitter, LinkedIn, WhatsApp, and YouTube, are being used by companies to promote their products. Vendors are using social media analytics tools to analyze their brand performance and audience reach. Several manufacturers are entering into entertainment media partnerships for product marketing. Thus, the promotion of watches through social media and other digital platforms is expected to drive the growth of the global watch market during the forecast period.

Major challenges - The presence of counterfeit products may impede the market growth. Counterfeit products infringe the intellectual property rights of established brands by selling products with similar trademarks, brand names, and logos. Vendors face difficulties in competing with and taking legal action against the manufacturers of counterfeit products. This affects the businesses of genuine vendors. The market for counterfeit products is growing rapidly, led by their low production cost and high-profit margins. APAC is a major market for counterfeit products due to weak regulations and standards. Thus, the sales of counterfeit watches are hindering the growth of the global watch market.

Drivers and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this watch market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the watch market between 2023 and 2027

• Precise estimation of the watch market size and its contribution to the market in focus on the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the watch industry across APAC, Europe, North America, Middle East and Africa, and South America

• A thorough analysis of the market's competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of watch market vendors

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Table of Contents:

1 Executive Summary

• 1.1 Market Overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global watch market 2017 - 2021

• 4.2 Product Segment Analysis 2017 - 2021

• 4.3 Distribution channel Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Product

• 6.1 Market segments

• 6.2 Comparison by Product

• 6.3 Quartz - Market size and forecast 2022-2027

• 6.4 Mechanical - Market size and forecast 2022-2027

• 6.5 Market opportunity by Product

7 Market Segmentation by Distribution Channel

• 7.1 Market segments

• 7.2 Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027

• 7.4 Online - Market size and forecast 2022-2027

• 7.5 Market opportunity by Distribution Channel

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 North America - Market size and forecast 2022-2027

• 9.6 Middle East and Africa - Market size and forecast 2022-2027

• 9.7 South America - Market size and forecast 2022-2027

• 9.8 China - Market size and forecast 2022-2027

• 9.9 US - Market size and forecast 2022-2027

• 9.10 UK - Market size and forecast 2022-2027

• 9.11 Japan - Market size and forecast 2022-2027

• 9.12 Germany - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Breitling SA

• 12.4 CASIO Computer Co. Ltd.

• 12.5 Citizen Watch Co. Ltd.

• 12.6 Compagnie Financiere Richemont SA

• 12.7 Daniel Wellington AB

• 12.8 Fossil Group Inc.

• 12.9 Le petit fils de L.U. Chopard and Cie SA

• 12.10 LVMH Moet Hennessy Louis Vuitton SE

• 12.11 Movado Group Inc.

• 12.12 Patek Philippe SA

• 12.13 Ralph Lauren Corp.

• 12.14 Rolex SA

• 12.15 Seiko Holdings Corp.

• 12.16 The Swatch Group Ltd.

• 12.17 Titan Co. Ltd.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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