The watch market share in Thailand is expected to increase by USD 199.32 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.54%.

This watch market research report of Thailand provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers watch market segmentation in Thailand by end-user (men and women) and distribution channel (offline and online). The watch market report of Thailand also offers information on several market vendors, including Apple Inc., CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Epos Uhren AG, Longines Watch Co. Francillon Ltd., OMEGA SA., PVH Corp., Rado Watch Co Ltd, Time Zone Co. Ltd., and UNDONE among others.

What will the Watch Market Size in Thailand be During the Forecast Period?

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Watch Market in Thailand: Key Drivers and Challenges

The rising demand for premium watches is notably driving the watch market growth in Thailand, although factors such as the presence of counterfeit products may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the watch industry in Thailand. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Watch Market Driver in Thailand

Customers prefer watches with premium designs. To meet such evolving customer needs, vendors continuously innovate their product ranges and expand their product lines. Vendors are continuously introducing watches with premium finish by using different raw materials, such as magnesium, polyether ether ketone (PEEK), ceramic, ceramic matrix composite (CMC), ferrite, and carbon fiber. The use of such raw materials leads to product premiumization. The rising purchasing power and the increasing disposable income of customers are resulting in a growth in their spending on fashion accessories. This is propelling the demand for premium fashion accessories and supporting the growth of the watch market in Thailand. Premium watches are priced higher than regular watches. The upgrading fashion quo and lifestyle are also augmenting the demand for premium watches. Therefore, the increasing product premiumization, coupled with the growing customer spending on fashion accessories, would drive the value sales in the watch market in Thailand during the forecast period.

Key Watch Market Challenge in Thailand

Counterfeit products invade the intellectual property rights of established brands by selling products with trademarks, brand names, and logos similar to those of original brands. The huge fan base and premium price of the products of established brands encourage counterfeit providers to offer duplicate products at lower prices. The growing demand for watches widens the opportunities for counterfeit products in the market in Thailand. Vendors face difficulties in competing and taking legal action against the manufacturers of counterfeit products. Counterfeit products of different brands affect the business of genuine vendors in terms of revenue and the goodwill of their brands. The market for counterfeit products is growing rapidly, mainly led by the low production cost and high profit margins associated with them. The major market for counterfeit products is APAC due to the weak regulations and lack of standards in the region. Thus, the sales of counterfeit watches are inhibiting the growth of the watch market in Thailand.

This watch market analysis report of Thailand also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Watch Market Vendors in Thailand?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Apple Inc.
• CASIO Computer Co. Ltd.
• Citizen Watch Co. Ltd.
• Epos Uhren AG
• Longines Watch Co. Francillon Ltd.
• OMEGA SA.
• PVH Corp.
• Rado Watch Co Ltd
• Time Zone Co. Ltd.
• UNDONE

This statistical study of the watch market in Thailand encompasses successful business strategies deployed by the key vendors. The watch market in Thailand is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The watch market forecast report of Thailand offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating End-user Segments in the Watch Market in Thailand?

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The watch market share growth in Thailand by the men segment will be significant during the forecast period. Watches are considered an essential fashion product and are available in multiple styles and categories for men. The adoption of products that are fashionable and comfortable has been growing. Watches are some of the most purchased and popular accessories in the male customer segment. Moreover, with the rising awareness of the availability of different watches in the market and their features among customers, the adoption of watches is expected to rise in the coming years. In short, the growing number of fashion-conscious male consumers is likely to augment the growth of the watch market in Thailand during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the watch market size in Thailand and actionable market insights on post COVID-19 impact on each segment.

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Watch market - The market share is expected to increase by USD 8.31 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 2%.

Smartwatch market - The market share is expected to increase by USD 23.02 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 14.06%.

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What are the Key Data Covered in this Watch Market Report of Thailand?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive watch market growth in Thailand during the next five years
• Precise estimation of the watch market size in Thailand and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of watch market vendors in Thailand 

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