Luxury Watches Market size is projected to reach USD 50,215.3 Million units by 2027 from an estimated USD 42,652.7 Million units in 2020, growing at a CAGR of 4.15% globally.
Luxury Watch Market report covers a detailed analysis of current and
upcoming market trends, company market shares, market projections, competitive
benchmarking, competition mapping, and in-depth research of the most
significant sustainability strategies and their impact on industry growth and
competition. The research was conducted using a combination of primary and
secondary data, as well as input from leading industry players.
There is no official definition of a luxury watch, but it is considered to be in the price range. Further, it signifies the status symbol of people. The common attributes of luxury watches are limited availability, social distinction, exclusivity, exceptional quality, and high prices. The surge in the number of high net-worth individuals, rise in disposable income, and an increase in spending on premium quality products are some of the factors driving the growth of the global Luxury Watches Market during the forecast period.
The Major Players In The Luxury
Watch Market Include:
CASIO Computer Co. Ltd., Citizen
Watch Co. Ltd., Compagnie Financière Richemont SA, Fossil Group Inc., LVMH Moet
Hennessy -Louis Vuitton, Movado Group Inc., Patek Philippe SA, Rolex SA, Seiko
Holdings Corp, The Swatch Group Ltd.
Market has segmented the global
Luxury Watch market on the basis of type, application, and region:
The Luxury Watch market is segmented
by type and application. Growth between segments over the period 2022-2028
provides accurate calculations and forecasts of revenue by type and application
in terms of volume and value. This analysis can help you expand your business
by targeting eligible niches.
By Type:
Mechanical Watches, Electronic
Watches
By Application:
Men, Women
By Regional Outlook
(Revenue, USD Billion, 2017 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain,
Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest
of APAC)
- Middle East & Africa (GCC Countries, South Africa,
Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
IMR offers a comprehensive overview
of the market through the analysis of key parameters such as revenue, price,
competition, and promotions, as well as the study, synthesis, and summarization
of data from different sources. It analyzes the leading industry drivers and
shows numerous market components. The information offered is thorough,
dependable, and the result of a comprehensive primary and secondary study. IMR
market research reports offer a comprehensive global market as well as an
in-depth strategic sourcing methodology and analysis based on qualitative and
quantitative research to anticipate market growth.
Covid-19 Impact and Recovery
Analysis on Industry:
The COVID-19 pandemic has had
devastating effects on several industry verticals globally. To constrain the
number of cases and slow the coronavirus spread, various public health
guidelines were implemented in different countries across the globe. COVID-19 protocols
range from declaring national emergency states, enforcing stay-at-home orders,
closing nonessential business operations and schools, banning public
gatherings, imposing curfews, distributing digital passes, and allowing police
to restrict citizen movements within a country, as well as closing
international borders. With the growing vaccination rate, governments are
uplifting the protocols to give a boost to the stagnant economy. Like other
industries, Luxury Watch Market has experienced a slowdown the growth,
however, the market is expected to bounce back as restrictions are being lifted
up by governments across the globe.
Key Benefits For Stakeholders
·
The report
provides a quantitative analysis of the current market trends, estimations, and
dynamics of the market size from 2022 to 2028 to identify the prevailing
opportunities.
·
Porter’s
five forces analysis highlights the potency of buyers and suppliers to enable
stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer
network.
·
In-depth
analysis and the market size and segmentation assist to determine the
prevailing Luxury Watches Market opportunities.
·
The major
countries in each region are mapped according to their revenue contribution to
the market.
· The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the luxury watches industry.
