Technavio has been monitoring the watch market and it is poised to grow by $ 3.31 bn during 2020-2024, progressing at a CAGR of almost 1% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Watch Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What are the major trends in the market?
Increase in the introduction of smart connected watches is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at (12.25)% and the incremental growth of the market is anticipated to be $ 3.31 bn.
Who are the top players in the market?
Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière Richemont SA, Fossil Group Inc., LVMH Moët Hennessy – Louis Vuitton, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd. Market Overview, are some of the major market participants.
What is the key market driver?
The increased fashion-conscious consumers is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 63% of the market share.
The market is highly fragmented, and the degree of fragmentation will accelerate during the forecast period. Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière Richemont SA, Fossil Group Inc., LVMH Moët Hennessy – Louis Vuitton, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd. are some of the major market participants. The increase in fashion-conscious consumers will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Watch Market 2020-2024: Segmentation
Watch Market is segmented as below:
- North America
- South America
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Watch Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The watch market report covers the following areas:
- Watch Market Size
- Watch Market Trends
- Watch Market Industry Analysis
This study identifies an increase in the introduction of smart connected watches as one of the prime reasons driving the watch market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Watch Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist watch market growth during the next five years
- Estimation of the watch market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the watch market
- 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
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Value chain analysis
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- Quartz – Market size and forecast 2019-2024
- Mechanical – Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
- Market segmentation by distribution channel
- Comparison by distribution channel
- Offline – Market size and forecast 2019-2024
- Online – Market size and forecast 2019-2024
- Market opportunity by distribution channel
PART 09: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 12: MARKET TRENDS
- Enhanced vendor engagement through social media and other entertainment channels
- Increase in introduction of smart connected watches
- Increase in demand for customized watches
PART 13: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 14: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Casio Computer Co. Ltd.
- Citizen Watch Co. Ltd.
- Compagnie Financière Richemont SA
- Fossil Group Inc.
- LVMH Moët Hennessy – Louis Vuitton
- Movado Group Inc.
- Ralph Lauren Corp.
- Rolex SA
- Seiko Holdings Corp.
- The Swatch Group Ltd.
PART 15: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 16: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.