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.