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Watch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 145 pages | ID: W90F7C9981E6EN
IMARC Group

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The global watch market size reached US$ 71.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 98.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5% during 2023-2028.

A watch is a portable timepiece that consists of a crown, case, dial, strap, crystal, lugs, and hands and is worn around the wrist or carried in a pocket. It can also be made using precious metals, such as gold, silver and platinum, and ornamented with jewels like rubies and diamonds. At present, improving living standards and inflating disposable incomes are driving the demand for exclusive watches that add a sophisticated and elegant look to the style and personality of an individual.

Watch Market Trends:
The emerging fast fashion trend, along with the increasing adoption of premium accessories as a status symbol, represents one of the key factors contributing to the demand for handcrafted luxury watches worldwide. Apart from this, the rising adoption of smart and connected devices, coupled with the growing penetration of the internet and increasing reliance on smartphones, are positively influencing the sales of smartwatches. As these watches provide insightful information about the overall health and track nutritional intake of individuals, the increasing prevalence of chronic and lifestyle diseases is impelling the market growth. Moreover, due to the growing complexity of aircraft, luxury pilot watches are gaining traction among aviation professionals and airline pilots to assist them with mid-flight aeronautical calculations, such as wind correction angle and fuel consumption. Besides this, market players are introducing touch-sensitive tactile watches that visually impaired people can use to sense time accurately. In addition, they are offering custom-made variants in luxury boxes through online retail channels. This, in confluence with the thriving e-commerce industry, is anticipated to augment the sales of watches and strengthen the market growth in the coming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global watch market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, price range, distribution channel and end user.

Breakup by Type:

Quartz
Mechanical

Breakup by Price Range:

Low-Range
Mid-Range
Luxury

Breakup by Distribution Channel:

Online Retail Stores
Offline Retail Stores

Breakup by End User:

Men
Women
Unisex

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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apple Inc., Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Fossil Group Inc., LG Electronics Inc., Movado Group Inc., Rolex SA, Samsung Electronics Co. Ltd., Seiko Holdings Corporation, The Swatch Group Ltd., Titan Company Limited and Xiaomi Corporation.

Key Questions Answered in This Report

1. What was the size of the global watch market in 2022?
2. What is the expected growth rate of the global watch market during 2023-2028?
3. What has been the impact of COVID-19 on the global watch market?
4. What are the key factors driving the global watch market?
5. What is the breakup of the global watch market based on the type?
6. What is the breakup of the global watch market based on the price range?
7. What is the breakup of the global watch market based on the distribution channel?
8. What are the key regions in the global watch market?
9. Who are the key players/companies in the global watch market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL WATCH MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY TYPE

6.1 Quartz
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Mechanical
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY PRICE RANGE

7.1 Low-Range
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Mid-Range
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Luxury
  7.3.1 Market Trends
  7.3.2 Market Forecast

8 MARKET BREAKUP BY DISTRIBUTION CHANNEL

8.1 Online Retail Stores
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Offline Retail Stores
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY END USER

9.1 Men
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Women
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Unisex
  9.3.1 Market Trends
  9.3.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Apple Inc.
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
    15.3.1.3 Financials
    15.3.1.4 SWOT Analysis
  15.3.2 Casio Computer Co. Ltd.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Citizen Watch Co. Ltd.
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
    15.3.3.3 Financials
    15.3.3.4 SWOT Analysis
  15.3.4 Fossil Group Inc.
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
    15.3.4.3 Financials
    15.3.4.4 SWOT Analysis
  15.3.5 LG Electronics Inc.
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 Financials
    15.3.5.4 SWOT Analysis
  15.3.6 Movado Group Inc.
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
    15.3.6.4 SWOT Analysis
  15.3.7 Rolex SA
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
  15.3.8 Samsung Electronics Co. Ltd.
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
    15.3.8.4 SWOT Analysis
  15.3.9 Seiko Holdings Corporation
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
    15.3.9.3 Financials
  15.3.10 The Swatch Group Ltd.
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
    15.3.10.3 Financials
    15.3.10.4 SWOT Analysis
  15.3.11 Titan Company Limited
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
    15.3.11.3 Financials
  15.3.12 Xiaomi Corporation
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 Financials

LIST OF TABLES

Table 1: Global: Watch Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Watch Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Watch Market Forecast: Breakup by Price Range (in Million US$), 2023-2028
Table 4: Global: Watch Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 5: Global: Watch Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Watch Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Watch Market: Competitive Structure
Table 8: Global: Watch Market: Key Players

LIST OF FIGURES

Figure 1: Global: Watch Market: Major Drivers and Challenges
Figure 2: Global: Watch Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Watch Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Watch Market: Breakup by Type (in %), 2022
Figure 5: Global: Watch Market: Breakup by Price Range (in %), 2022
Figure 6: Global: Watch Market: Breakup by Distribution Channel (in %), 2022
Figure 7: Global: Watch Market: Breakup by End User (in %), 2022
Figure 8: Global: Watch Market: Breakup by Region (in %), 2022
Figure 9: Global: Watch (Quartz) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Watch (Quartz) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Watch (Mechanical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Watch (Mechanical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Watch (Low-Range) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Watch (Low-Range) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Watch (Mid-Range) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Watch (Mid-Range) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Watch (Luxury) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Watch (Luxury) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Watch (Offline Retail Stores) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Watch (Offline Retail Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Watch (Online Retail Stores) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Watch (Online Retail Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Watch (Men) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Watch (Men) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Watch (Women) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Watch (Women) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Watch (Unisex) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Watch (Unisex) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: North America: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: North America: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: United States: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: United States: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Canada: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Canada: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Asia-Pacific: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Asia-Pacific: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: China: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: China: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Japan: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Japan: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: India: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: India: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: South Korea: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: South Korea: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Australia: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Australia: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Indonesia: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Indonesia: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Others: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Others: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Europe: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Europe: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Germany: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Germany: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: France: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: France: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: United Kingdom: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: United Kingdom: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Italy: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Italy: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Spain: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Spain: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Russia: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Russia: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Others: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Others: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Latin America: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Latin America: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Brazil: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Brazil: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Mexico: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Mexico: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Others: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Others: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Middle East and Africa: Watch Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Middle East and Africa: Watch Market: Breakup by Country (in %), 2022
Figure 77: Middle East and Africa: Watch Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 78: Global: Watch Industry: SWOT Analysis
Figure 79: Global: Watch Industry: Value Chain Analysis
Figure 80: Global: Watch Industry: Porter's Five Forces Analysis


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