DUBLIN--(BUSINESS WIRE)--The "Global Watch Market: Growth, Trends and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global watch market is projected to grow at a CAGR of 9.92% during the forecast period.
The lower-priced and mid-priced watches are increasingly gaining market traction, due to increasing demand for value-for-product' watches and accessories among women.
The demand for digital watches is stronger among young consumers, as they are more aware of smartphone technology. Popular brands, like Casio and Timex, have launched their own product lines, such as G-Shock and Command Watch collections.
Brands, like Casio and Timex, are continuously investing in R&D for product innovations to blend some of the features of smartwatches with the long-lasting battery life of digital watches, while offering the product in attractive design and affordable prices.
Key Market Trends
Surge in Demand for Smartwatches
The high penetration rate for wearable technologies in the United States and European countries, like the United Kingdom, Germany, France, Italy, and others, is contributing to the growth of the smartwatch segment. The key players are embarking on mergers and acquisitions as one of their key strategies, to achieve consolidation and to optimize their offerings. For instance:
- In 2015, Fossil acquired wearable maker, Misfit, for USD 260 million. With the acquisition of Misfit, the Fossil Group is uniquely positioned to lead the convergence of style and technology, to become the fashion gateway to the high-growth wearable technology and connected device markets.
North America and Europe Dominating the Watch Market
United States watch market is offering a wide range of choices for its consumers, which includes cheaper watches from Hong Kong that are priced below USD 500. Depending on the number of apps and features available, the entry-level smartwatches are priced at USD 120-200, while middle-range watches are priced at USD 300-500. Brands like Apple have launched smartwatches at an entry price of USD 350.
This has made the product accessible to a larger segment of consumers. Moreover, the British watchmaking industry is growing rapidly, with more players providing attractive watches with a stainless-steel case, scratch-resistant sapphire glass, quick-change strap system, and water resistance property.
Global watch market is highly fragmented and comprises regional and international competitors. The market is dominated by players, like Citizen Watch, Seiko Holdings Corporation, Fossil Group Inc., Casio Computer Co. Ltd, Timex Group BV, and The Swatch Group. These players are now focussing on social media platforms and online distribution channels. for the online marketing and branding of their products, to attract more customers.
- In January 2019, Google bought smartwatch technology, in a deal worth USD 40 million, from Fossil. Along with the IP, a section of Fossil's R&D team, focused on wearables, will join Google
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Analogue Watch
5.1.2 Digital Watch
18.104.22.168 Smart Watch
5.2 By End-user
5.3 By Distribution Channel
5.3.1 Offline Retail Stores
5.3.2 Online Retail Stores
5.4.1 North America
5.4.4 South America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Seiko Holdings Corporation
6.4.2 Casio Computer Co. Ltd.
6.4.3 Citizen Watch Co. Ltd.
6.4.4 Fossil Group Inc.
6.4.5 Timex Group
6.4.6 The Swatch Group
6.4.8 Samsung Group
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/7lya2e