LONDON--(BUSINESS WIRE)--The global gems and jewelry market is expected to post a CAGR almost 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The emergence of augmented reality technology has encouraged several e-commerce vendors around the globe to develop a platform that incorporates AR effects. The multiple sensory modalities associated with the AR technology help to display the gems and jewelry products in a new fashion and thus fuel growth through the online distribution channel. Consumers use these platforms to choose the ideal product match as per their need by virtually trying on the jewelry. Thus, the integration of AR technology will boost the growth of the gems and jewelry market during the forecast period.
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As per Technavio, innovation in terms of design and manufacturing technology, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Gems and Jewelry Market: Innovation in terms of design and manufacturing technology
Customers are looking for services that will allow them to add gemstones and other precious stones to the jewelry product to create their own designs. This is driving the demand for personalized jewelry where customers can choose from the available designs and further customize them to suit their needs. Consequently, advanced technologies such as the induction technology and laser technology are gaining prominence as they are extensively used to fulfill these requirements. With the adoption of such advanced technologies, the market for gems and jewelry is expected to showcase a positive outlook during the forecast period.
“Apart from the adoption of advanced technologies, the demand for cross-cultural jewelry designs and popularity of wedding jewelry are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Gems and Jewelry Market: Segmentation Analysis
This market research report segments the global gems and jewelry market by distribution channel (offline and online) and geographical regions (APAC, Europe, North America, MEA, and South America).
The APAC region led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market and register the highest incremental growth owing to the growing number of market players operating in this region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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