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Watch Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Mar 2021
  • Pages: 142
  • SKU: IRTNTR44295
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The watch 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%.

This watch market research report 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 segmentations by product (quartz and mechanical), distribution channel (offline and online), and geography (APAC, Europe, North America, MEA, and South America). The watch market report also offers information on several market vendors, including Casio Computer Co. Ltd., Citizen Systems Japan Co. Ltd., Compagnie Financiere Richemont SA, Fossil Group Inc., LVMH Moet Hennessy Louis Vuitton, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd. among others.

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

Watch Market Size

Download the Free Report Sample to Unlock the Watch Market Size for the Forecast Period and Other Important Statistics

 

Watch Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing number of fashion-conscious consumers is notably driving the watch market growth, although factors such as the presence of counterfeit products may impede the 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. 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

The growing number of fashion-conscious consumers is one of the key drivers supporting the watch market growth. Vendors operating in the apparel, accessories, and  luxury goods industry are constantly focusing on R&D activities and innovations to survive in the competitive market environment. The rising purchasing power and 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 global watch market. Premium watches are priced higher than regular watches. The upgrading fashion quo and lifestyle are also augmenting the demand for premium watches. To address this growing concern, vendors are offering products that are smartly designed and durable, which further leads to product premiumization. Therefore, the increasing product premiumization, coupled with the growing customer spending on fashion accessories, would drive the value sales in the global watch market during the forecast period.

Key Watch Market Trend

Enhanced vendor engagement through social media and other entertainment channels is a key trend contributing to the global watch market growth. The growing adoption of social media and other entertainment channels for marketing campaigns is one of the major trends in the global watch market. They promote their products through these platforms directly and through well-known celebrities and vloggers. They are also using social media analytics tools to analyze their brand performance and audience reach. Several manufacturers are entering into entertainment media partnerships for product marketing. Thus, the promotion of watches through social media and other digital platforms is expected to drive the growth of the global watch market during the forecast period. This is because customers often relate the efficacy of products with endorsing celebrities.

Key Watch Market Challenge

One of the major challenges faced by the vendors operating in the global watch market is the huge presence of counterfeit products. 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. Counterfeit products of different brands affect the business of genuine vendors in terms of revenue and the goodwill of their brands. Most luxury brands offer limited-edition or special-edition products. 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 in APAC is due to the weak regulations and lack of standards in the region. Thus, the sales of counterfeit watches are inhibiting the growth of the global watch market.

This watch market analysis report 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 2021-2025.

Parent Market Analysis

Technavio categorizes the watch market as a part of the global apparel, accessories, and luxury goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the watch market during the forecast period.

Who are the Major Watch Market Vendors?

The report analyzes the global apparel, accessories, and luxury goods market's competitive landscape and offers information on several market vendors, including:

 

  • Casio Computer Co. Ltd.
  • Citizen Systems Japan Co. Ltd.
  • Compagnie Financiere Richemont SA
  • Fossil Group Inc.
  • LVMH Moet Hennessy Louis Vuitton
  • Movado Group Inc.
  • Ralph Lauren Corp.
  • Rolex SA
  • Seiko Holdings Corp.
  • The Swatch Group Ltd.

 

This statistical study of the watch market encompasses successful business strategies deployed by the key vendors. The watch market is fragmented and the vendors are deploying growth strategies such as R&D, improved technology, and brand value creation to compete in the market.

Product Insights and News

  • Casio Computer Co. Ltd. - The company offers watches under the brand names GSHOCK, GShock Women, BABY G, EDIFICE, PRO TREK, Vintage, Dress, Classic, Databank, Sports and Wave Ceptor.

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

Watch Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the watch market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global apparel, accessories, and luxury goods market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

 

Which are the Key Regions for Watch Market?

Watch Market Market segmentation by region

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58% of the market's growth will originate from APAC during the forecast period. China is the key market for the watch market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising disposable income of people and the changing customer tastes and preferences will drive the demand for watches in APAC during the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The market in the region is witnessing various challenges due to the COVID-19 pandemic outbreak. India, China, and Pakistan are some of the most-affected countries by the pandemic in the region. Moreover, the pandemic has led to a decline in Swiss watch exports to the region. For instance, watches exported from Switzerland to China in February 2020 were less compared with that in February 2019. Moreover, the imposition of lockdowns in countries such as India led to a temporary halt in the production of luxury watch retailers. These factors may hinder the potential growth of the market in the region during the forecast period.

What are the Revenue-generating Product Segments in the Watch Market?

Watch Market Segmentation

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The watch market share growth by the quartz segment will be significant during the forecast period. The huge market share and high adoption rate of quartz watches can be attributed to their low cost compared with that of mechanical watches. A wide range of quartz watches are offered in the market, and quartz watches are offered in both digital and analog modes. Some of the vendors that offer quartz watches include Casio, Citizen, and Fossil. The majority share of the quartz segment is held by analog quartz watches that are available in the market in different styles, price ranges, and designs.

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

 

Watch Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2%

Market growth 2021-2025

$ 8.31 billion

Market structure

Fragmented

YoY growth (%)

1.70

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 58%

Key consumer countries

China, US, Hong Kong (SAR, UK, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Casio Computer Co. Ltd., Citizen Systems Japan Co. Ltd., Compagnie Financiere Richemont SA, Fossil Group Inc., LVMH Moet Hennessy Louis Vuitton, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive watch market growth during the next five years
  • Precise estimation of the watch market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the watch industry across APAC, Europe, North America, MEA, and South America
  • 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

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Apparel, Accessories, and Luxury Goods

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five Forces Summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Quartz - Market size and forecast 2020-2025
      • Exhibit 17: Quartz - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Quartz - Year-over-year growth 2020-2025 (%)
    • 5.4 Mechanical - Market size and forecast 2020-2025
      • Exhibit 19: Mechanical - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Mechanical - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 21: Market opportunity by Product

    6 Market Segmentation by Distribution channel

    • 6.1 Market segments
      • Exhibit 22: Distribution channel - Market share 2020-2025 (%)
    • 6.2 Comparison by Distribution channel
      • Exhibit 23: Comparison by Distribution channel
    • 6.3 Offline - Market size and forecast 2020-2025
      • Exhibit 24: Offline - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 25: Offline - Year-over-year growth 2020-2025 (%)
    • 6.4 Online - Market size and forecast 2020-2025
      • Exhibit 26: Online - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 27: Online - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Distribution channel
      • Exhibit 28: Market opportunity by Distribution channel

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 30: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 31: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 32: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 33: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 34: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 38: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 39: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 40: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 41: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 42: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 43: Market opportunity by geography

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 45: Vendor landscape
            • 10.3 Landscape disruption
              • Exhibit 46: Landscape disruption
              • Exhibit 47: Industry risks

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 48: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 49: Market positioning of vendors
            • 11.3 Casio Computer Co. Ltd.
              • Exhibit 50: Casio Computer Co. Ltd. - Overview
              • Exhibit 51: Casio Computer Co. Ltd. - Business segments
              • Exhibit 52: Casio Computer Co. Ltd. – Key news
              • Exhibit 53: Casio Computer Co. Ltd. - Key offerings
              • Exhibit 54: Casio Computer Co. Ltd. - Segment focus
            • 11.4 Citizen Systems Japan Co. Ltd.
              • Exhibit 55: Citizen Systems Japan Co. Ltd. - Overview
              • Exhibit 56: Citizen Systems Japan Co. Ltd. - Business segments
              • Exhibit 57: Citizen Systems Japan Co. Ltd. - Key offerings
              • Exhibit 58: Citizen Systems Japan Co. Ltd. - Segment focus
            • 11.5 Compagnie Financiere Richemont SA
              • Exhibit 59: Compagnie Financiere Richemont SA - Overview
              • Exhibit 60: Compagnie Financiere Richemont SA - Business segments
              • Exhibit 61: Compagnie Financiere Richemont SA – Key news
              • Exhibit 62: Compagnie Financiere Richemont SA - Key offerings
              • Exhibit 63: Compagnie Financiere Richemont SA - Segment focus
            • 11.6 Fossil Group Inc.
              • Exhibit 64: Fossil Group Inc. - Overview
              • Exhibit 65: Fossil Group Inc. - Business segments
              • Exhibit 66: Fossil Group Inc. – Key news
              • Exhibit 67: Fossil Group Inc. - Key offerings
              • Exhibit 68: Fossil Group Inc. - Segment focus
            • 11.7 LVMH Moet Hennessy Louis Vuitton
              • Exhibit 69: LVMH Moet Hennessy Louis Vuitton - Overview
              • Exhibit 70: LVMH Moet Hennessy Louis Vuitton - Business segments
              • Exhibit 71: LVMH Moet Hennessy Louis Vuitton - Key offerings
              • Exhibit 72: LVMH Moet Hennessy Louis Vuitton - Segment focus
            • 11.8 Movado Group Inc.
              • Exhibit 73: Movado Group Inc. - Overview
              • Exhibit 74: Movado Group Inc. - Business segments
              • Exhibit 75: Movado Group Inc. - Key offerings
              • Exhibit 76: Movado Group Inc. - Segment focus
            • 11.9 Ralph Lauren Corp.
              • Exhibit 77: Ralph Lauren Corp. - Overview
              • Exhibit 78: Ralph Lauren Corp. - Business segments
              • Exhibit 79: Ralph Lauren Corp. - Key offerings
              • Exhibit 80: Ralph Lauren Corp. - Segment focus
            • 11.10 Rolex SA
              • Exhibit 81: Rolex SA - Overview
              • Exhibit 82: Rolex SA - Product and service
              • Exhibit 83: Rolex SA - Key offerings
            • 11.11 Seiko Holdings Corp.
              • Exhibit 84: Seiko Holdings Corp. - Overview
              • Exhibit 85: Seiko Holdings Corp. - Business segments
              • Exhibit 86: Seiko Holdings Corp. - Key offerings
              • Exhibit 87: Seiko Holdings Corp. - Segment focus
            • 11.12 The Swatch Group Ltd.
              • Exhibit 88: The Swatch Group Ltd. - Overview
              • Exhibit 89: The Swatch Group Ltd. - Business segments
              • Exhibit 90: The Swatch Group Ltd. - Key offerings
              • Exhibit 91: The Swatch Group Ltd. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 92: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 93: Research Methodology
                • Exhibit 94: Validation techniques employed for market sizing
                • Exhibit 95: Information sources
              • 12.4 List of abbreviations
                • Exhibit 96: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Watch Market market growth will increase by $8.31 bn during 2021-2025.
              The watch market market is expected to grow at a CAGR of 2% during 2021-2025.
              Technavio has segmented the watch market market by product (Quartz and Mechanical) ,distribution channel (Offline and Online) , and geographic (APAC, Europe, North America, MEA, and South America).
              Casio Computer Co. Ltd., Citizen Systems Japan Co. Ltd., Compagnie Financiere Richemont SA, Fossil Group Inc., LVMH Moet Hennessy Louis Vuitton, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., The Swatch Group Ltd. are a few of the key vendors in the watch market market.
              APAC will register the highest growth rate of 58% among the other regions. Therefore, the watch market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              • China
              • US
              • Hong Kong (SAR
              • UK
              • Japan
              • Germany
              The key factors driving the watch market market growth are:
              • rising demand for premium watches
              • enhanced vendor engagement through social media and other entertainment channels
              The watch market market vendors should focus on grabbing business opportunities from the quartz segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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              • Covid-19 impact and recovery analysis
              • Data on revenue-generating market segments
              • Details on the market shares of various regions
              • Five-force market analysis

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