The global luxury watch market reached a value of US$ 26.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.3 Billion by 2027, exhibiting a CAGR of 3.4% during 2022-2027.
Report Metric Historical: 2016-2021
Base Year: 2021
Forecast Year: 2022-2027
Luxury watches are high-quality and premium-priced accessories that are worn on the wrist to add a sophisticated and elegant look to the style and personality of people. They are manufactured using precious metals like gold, silver and platinum and decorated with rubies and diamonds. Presently, leading manufacturers are relying on the newly developed artificial intelligence (AI) technology to offer innovative features like making calls and monitoring physical activities.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Luxury Watch Market Trends:
The emerging trend of adopting premium fashion on account of inflating income levels represents one of the key factors bolstering the market growth. Moreover, the widespread availability of luxury watches in unique materials, dial colors, strap designs, and themes is propelling the market growth. Besides this, several manufactures are offering pre-owned product variants at discounted prices through online stores. They are also financing promotional campaigns to expand their existing market share. Furthermore, the growing participation of individuals in professional scuba diving is positively influencing the sales of luxury watches. This can also be attributed to their water and corrosion resistance.
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Global Luxury Watch Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Apple Inc., Breitling SA, Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière Richemont SA, Fossil Group Inc., Hermès International S.A., Kering, LVMH Moët Hennessy Louis Vuitton, Movado Group Inc., Patek Philippe SA, Rolex SA, Seiko Watch Corporation, The Swatch Group Ltd. and Titan Company Limited.
The report has segmented the market on the basis on region, type, end user, distribution channel.
Breakup by Type:
- Analog Watch
- Digital Watch
Breakup by End User:
Breakup by Distribution Channel:
- Online Stores
- Offline Stores
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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