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Watch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global watch market size reached US$ 66.76 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 93.85 Billion by 2027, exhibiting a groeth rate (CAGR) of 5.20% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

A watch is a portable timepiece that consists of a crown, case, dial, strap, crystal, lugs, and hands and is worn around the wrist or carried in a pocket. It can also be made using precious metals, such as gold, silver and platinum, and ornamented with jewels like rubies and diamonds. At present, improving living standards and inflating disposable incomes are driving the demand for exclusive watches that add a sophisticated and elegant look to the style and personality of an individual.

Watch Market Trends:

The emerging fast fashion trend, along with the increasing adoption of premium accessories as a status symbol, represents one of the key factors contributing to the demand for handcrafted luxury watches worldwide. Apart from this, the rising adoption of smart and connected devices, coupled with the growing penetration of the internet and increasing reliance on smartphones, are positively influencing the sales of smartwatches. As these watches provide insightful information about the overall health and track nutritional intake of individuals, the increasing prevalence of chronic and lifestyle diseases is impelling the market growth. Moreover, due to the growing complexity of aircraft, luxury pilot watches are gaining traction among aviation professionals and airline pilots to assist them with mid-flight aeronautical calculations, such as wind correction angle and fuel consumption. Besides this, market players are introducing touch-sensitive tactile watches that visually impaired people can use to sense time accurately. In addition, they are offering custom-made variants in luxury boxes through online retail channels. This, in confluence with the thriving e-commerce industry, is anticipated to augment the sales of watches and strengthen the market growth in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global watch market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, price range, distribution channel and end user.

Breakup by Type:

  • Quartz
  • Mechanical
     

Breakup by Price Range:

  • Low-Range
  • Mid-Range
  • Luxury
     

Breakup by Distribution Channel:

  • Online Retail Stores
  • Offline Retail Stores
     

Breakup by End User:

  • Men
  • Women
  • Unisex
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Fossil Group Inc., LG Electronics Inc., Movado Group Inc., Rolex SA, Samsung Electronics Co. Ltd., Seiko Holdings Corporation, The Swatch Group Ltd., Titan Company Limited and Xiaomi Corporation.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Price Range, Distribution Channel, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Apple Inc., Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Fossil Group Inc., LG Electronics Inc., Movado Group Inc., Rolex SA, Samsung Electronics Co. Ltd., Seiko Holdings Corporation, The Swatch Group Ltd., Titan Company Limited and Xiaomi Corporation.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Watch Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Quartz
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Mechanical
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Price Range
    7.1    Low-Range
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Mid-Range
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Luxury
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Distribution Channel
    8.1    Online Retail Stores
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Offline Retail Stores
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by End User
    9.1    Men
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Women
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Unisex
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Apple Inc.
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Casio Computer Co. Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Citizen Watch Co. Ltd.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 Financials
           15.3.3.4 SWOT Analysis
        15.3.4    Fossil Group Inc.
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
           15.3.4.4 SWOT Analysis
        15.3.5    LG Electronics Inc.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    Movado Group Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    Rolex SA
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    Samsung Electronics Co. Ltd.
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
           15.3.8.4 SWOT Analysis
        15.3.9    Seiko Holdings Corporation
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
        15.3.10    The Swatch Group Ltd.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Titan Company Limited
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
        15.3.12    Xiaomi Corporation
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 Financials

List of Figures

Figure 1: Global: Watch Market: Major Drivers and Challenges
Figure 2: Global: Watch Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Watch Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Watch Market: Breakup by Type (in %), 2021
Figure 5: Global: Watch Market: Breakup by Price Range (in %), 2021
Figure 6: Global: Watch Market: Breakup by Distribution Channel (in %), 2021
Figure 7: Global: Watch Market: Breakup by End User (in %), 2021
Figure 8: Global: Watch Market: Breakup by Region (in %), 2021
Figure 9: Global: Watch (Quartz) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Watch (Quartz) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Watch (Mechanical) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Watch (Mechanical) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Watch (Low-Range) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Watch (Low-Range) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Watch (Mid-Range) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Watch (Mid-Range) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Watch (Luxury) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Watch (Luxury) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Watch (Offline Retail Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Watch (Offline Retail Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Watch (Online Retail Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Watch (Online Retail Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Watch (Men) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Watch (Men) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Watch (Women) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Watch (Women) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Watch (Unisex) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Watch (Unisex) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: North America: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: North America: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: United States: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: United States: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Canada: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Canada: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Asia-Pacific: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Asia-Pacific: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: China: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: China: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Japan: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Japan: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: India: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: India: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: South Korea: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: South Korea: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Australia: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Australia: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Indonesia: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Indonesia: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Others: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Others: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Europe: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Europe: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Germany: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Germany: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: France: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: France: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: United Kingdom: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: United Kingdom: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Italy: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Italy: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Spain: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Spain: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Russia: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Russia: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Others: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Others: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Latin America: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Latin America: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Brazil: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Brazil: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Mexico: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Mexico: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Middle East and Africa: Watch Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Middle East and Africa: Watch Market: Breakup by Country (in %), 2021
Figure 77: Middle East and Africa: Watch Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Global: Watch Industry: SWOT Analysis
Figure 79: Global: Watch Industry: Value Chain Analysis
Figure 80: Global: Watch Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Watch Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Watch Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Watch Market Forecast: Breakup by Price Range (in Million US$), 2022-2027
Table 4: Global: Watch Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 5: Global: Watch Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Watch Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Watch Market: Competitive Structure
Table 8: Global: Watch Market: Key Players


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Key Questions Answered in This Report

The global watch market was valued at US$ 66.76 Billion in 2021.

We expect the global watch market to exhibit a CAGR of 5.20% during 2022-2027.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of watches.

The growing adoption of fashion accessories, such as watches to add a sophisticated and elegant look to the style and personality of an individual, is primarily driving the global watch market.

Based on the type, the global watch market can be categorized into quartz and mechanical. Currently, quartz holds the largest market share.

Based on the price range, the global watch market has been segregated into low-range, mid-range, and luxury. Among these, low-range currently accounts for the majority of the global market share.

Based on the distribution channel, the global watch market can be bifurcated into online retail stores and offline retail stores. Currently, offline retail stores exhibit a clear dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.

Some of the major players in the global watch market include Apple Inc., Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Fossil Group Inc., LG Electronics Inc., Movado Group Inc., Rolex SA, Samsung Electronics Co. Ltd., Seiko Holdings Corporation, The Swatch Group Ltd., Titan Company Limited, and Xiaomi Corporation.

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