The watch market is expected to grow by USD 3.31 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the watch market optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Watch Market 2020-2024 (Graphic: Business Wire)
Enterprises will go through Response, Recovery and Renew phases. Download a Free Sample Report on COVID-19
The watch market will witness Negative impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Decrease as compared to 2019.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure. Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three Watch Market Participants:
CASIO Computer Co. Ltd.
CASIO Computer Co. Ltd. operates its business under various segments such as consumer, system equipment, and others. Under this product category, the company offers a wide range of watches of different series such as G-SHOCK, BABY-G, G-SHOCK S Series, PRO TREK, EDIFICE, and Wave Ceptor.
Citizen Watch Co. Ltd.
Citizen Watch Co. Ltd. operates its business under five segments, which include watches, machine tools, devices and components, electronic products, and other products. Under this product category, the company offers a wide range of watches for men and women under series/collection such as ECO-DRIVE, CAPELLA, CECI, STILETTO, and DRIVE FROM CITIZEN.
Compagnie Financière Richemont SA
Compagnie Financière Richemont SA operates its business under various segments such as jewelry maisons, specialist watchmakers, online distributors, and other. Under this products category, the company offers a wide range of watches for men and women through its A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, Buccellati, Cartier, Van Cleef & Arpels, and Vacheron Constantin brands.
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Watch Market 2020-2024: Segmentation
Watch market is segmented as below:
- North America
- South America
The watch market is driven by rising demand for premium watches. In addition, other factors such as increasing use of smartwatches is expected to trigger the watch market toward witnessing a CAGR of almost 1% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.