DUBLIN--(BUSINESS WIRE)--The "Watch Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
Global Watch Market: About this market
The watch market analysis considers sales from both quartz and mechanical watches. Our study also finds the sales of the watch in APAC, Europe, MEA, North America, and South America. In 2019, the quartz watches segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as less maintenance, high durability, and low manufacturing cost will play a significant role in the quartz watches segment to maintain its market position. Also, our global watch market report looks at factors such as rising demand for premium watches, celebrity endorsement, and the growing number of fashion-conscious consumers. However, the presence of counterfeit products, long product life cycles, and limited product awareness in developing regions may hamper the growth of the watch industry over the forecast period.
Global Watch Market: Overview
Growing number of fashion-conscious consumers
Rising urbanization and the evolving fashion-consciousness among the people, particularly, men are supporting the growth of the apparel, accessories, and luxury goods industry. In addition to women, men have also started participating actively in personal styling and dressing as they are becoming increasingly beauty- and image-conscious. Moreover, watches are increasingly being perceived as a fashion accessory instead of just a timekeeping device. Thus, the growing number of fashion-conscious consumers coupled with the rising spending power of the people from the middle-income group will lead to the expansion of the global watch market at a CAGR of almost 7% during the forecast period.
Increase in the introduction of smart connected watches
The demand for smartwatches has been increasing in recent years. Factors including the increasing adoption of smart products and accessories among people, rising participation of people in sports, growing concerns about fitness from an early age, and the surging engagement of people in fitness and sports activities are expected to drive the smart connected watches market growth. Smartwatches allow users to track their day-to-day activities while controlling their smartphones by enabling access to camera and music player, read messages and emails, and attend or decline calls. Furthermore, vendors operating in the global watch market are introducing smartwatches equipped with an activity tracker, app alerts, multiple time zones, and calendar alerts. This development is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Value chain analysis
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Quartz - Market size and forecast 2019-2024
- Mechanical - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline - Market size and forecast 2019-2024
- Online - Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Enhanced vendor engagement through social media and other entertainment channels
- Increase in introduction of smart connected watches
- Increase in demand for customized watches
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Casio Computer Co. Ltd.
- Citizen Watch Co. Ltd.
- Compagnie Financire Richemont SA
- Fossil Group Inc.
- LVMH Mot Hennessy - Louis Vuitton
- Movado Group Inc.
- Ralph Lauren Corp.
- Rolex SA
- Seiko Holdings Corp.
- The Swatch Group Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/xwgudd