Watch Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Watch Market value will exhibit a 5.2% CAGR from 2024 to 2032, spurred by technological advancements, such as the integration of smart technology into traditional timepieces. A report by the National Retail Federation (NRF) indicated that sales of luxury goods, including high-end watches, grew by 7.5% in North America in 2023, reflecting a strong preference for premium timepieces.

Healthcare wearables, especially smartwatches, are gaining traction among both fitness and tech enthusiasts. Rising disposable incomes and a shift towards personalized, premium products are propelling this market's growth.

The watch market categorizes itself by type, end users, strap material, price range, distribution channel, and region.

Digital watches industry share is set to witness a significant growth rate during 2024-2032, thanks to their enhanced functionality and convenience. Features like clear digital displays, multifunctionality, and precise timekeeping make digital watches appealing. The allure of advanced tech integrations, such as GPS and health tracking, in everyday wearables is propelling this segment's growth. Moreover, the affordability and versatility of digital watches broaden their audience, amplifying their market popularity.

By 2032, women are poised to capture a significant share of the watch market. As women increasingly seek watches that resonate with their fashion and lifestyle choices, brands are responding by offering more elegant, versatile, and personalized designs. This evolution not only sparks innovation in watch designs but also diversifies the market to cater to varied tastes and trends. The heightened emphasis on women's accessories and fashion is a driving force behind the watch sector's growth, drawing in a broader consumer base.

North America is projected to command a substantial share of the watch industry revenue by 2032. This is fueled by rising disposable incomes and a penchant for luxury timepieces. The region's strong retail infrastructure and a growing interest in premium, tech-savvy watches bolster market growth. Furthermore, the trend of merging smart technology with traditional watches resonates with both tech aficionados and style-conscious consumers. Cultural nuances, like viewing watches as status symbols and fashion statements, further amplify the watch market's expansion in North America.

Product Code: 10443

Chapter 1 Methodology and Scope

1.1 Market scope and definitions
1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
1.3 Base estimates and calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources

Chapter 2 Executive Summary

2.1 Industry 360° synopsis

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis.
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.1.7 Retailers
3.2 Industry impact forces
- 3.2.1 Growth drivers
  - 3.2.1.1 Rising demand for smartwatches and health-conscious features
  - 3.2.1.2 Enduring allure of luxury watches
  - 3.2.1.3 Evolving retail landscape
- 3.2.2 Industry pitfalls and challenges
  - 3.2.2.1 Competition from smartphones
  - 3.2.2.2 Fluctuations in luxury market
3.3 Growth potential analysis
3.4 Porter's analysis
3.5 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Watch Market Estimates and Forecast, By Type, 2021-2032 (USD Billion)

5.1 Quartz wrist watches
5.2 Digital
- 5.2.1 Smart
- 5.2.2 Others

Chapter 6 Watch Market Estimates and Forecast, By Strap Material, 2021-2032 (USD Billion)

6.1 Key trends
6.2 Plastic
6.3 Silicone
6.4 Leather
6.5 Stainless steel
6.6 Others

Chapter 7 Watch Market Estimates and Forecast, By End Users, 2021-2032 (USD Billion)

7.1 Key trends
7.2 Men
7.3 Women
7.4 Kids

Chapter 8 Watch Market Estimates and Forecast, By Price Range, 2021-2032 (USD Billion)

8.1 Key trends
8.2 Low range
8.3 Mid-range
8.4 Luxury

Chapter 9 Watch Market Estimates and Forecast, By Distribution Channel, 2021-2032 (USD Billion)

9.1 Key trends
9.2 Online
9.3 Offline

Chapter 10 Watch Market Estimates and Forecast, By Region, 2021-2032 (USD Billion)

10.1 Key trends, by regions
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 Saudi Arabia
- 10.6.2 UAE
- 10.6.3 South Africa
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Apple Incorporation
11.2 Bell and Ross SA (France)
11.3 Breitling SA (Switzerland)
11.4 Cartier International SNC
11.5 Casio Computer Company
11.6 Citizen Watch Company Limited
11.7 Fossil Group
11.8 Glashutte Original GmbH
11.9 Longines S.A. (Switzerland)
11.10 Omega SA
11.11 Patek Philippe and Co.
11.12 Rolex SA
11.13 Seiko Holdings Corporation
11.14 TAG Heuer S.A.
11.15 The Swatch Group