Overview of the Global Luxury Watch Market: Key Statistics and Trends:
According to the latest report by MarkNtel Advisors, titled “Global Luxury Watch Market By Product Type (Quartz/Mechanical, Digital), By Band Type (Strap-based, Chain-based), By End-Users (Women, Men, Unisex, By Distribution Channel (Online Store, Offline Store, (Exclusive Outlets, Multi-brand Store), and Others, The Global Luxury Watch Market size was valued at around USD 44.2 billion in 2023 and is projected to reach around USD 63.2 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.24% during the forecast period, i.e., 2024-30. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.
Global Luxury Watch Market Growth and Scope:
Base Year: 2023
Forecast Period: 2024-30
Historical Data: 2019-22
CAGR (2024-30): 5.24%
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Global Luxury Watch Market Trend:
Surging Demand for Smartwatches – Consumers have been recently preferring to purchase luxury smartwatches rather than conventional watches because they offer significant functionality to them along with a luxury experience. Thus, luxury smartwatches have become a significant market trend that has been contributing to the growth & development of the luxury watch industry. These watches allow customers to track their health by monitoring blood pressure, pulse rate, etc. and also offer voice assistance to perform tasks. Thus, their demand has increased, which has been supporting the market growth.
Along with this, the top companies have been incorporating these innovations into their products to keep up with changing consumer demands. This integration has appealed to tech-savvy consumers and also attracted a new demographic of buyers who seek the prestige of luxury brands combined with the utility of smart technology. Hence, companies like Garmin Ltd., Rolex, etc., have recently introduced luxury smartwatches to leverage this upcoming market opportunity.
A Comprehensive Analysis of Leading Companies of Luxury Watch Market by MarkNtel Advisors:
- Rolex SA
- The Swatch Group
- Compagnie Financiere Richemont SA
- Patek Philippe
- Audemars Piguet
- Tag Heuer
- Apple Inc.
- Jaeger-LeCoultre
- Movado Group, Inc.
- Ralph Lauren Corp.
- Louis Vuitton Moet Hennessy (LVMH)
- Omega
- Cartier
- Chopard
- Richard Mille
- Garmin Ltd.
- Others
Key Luxury Watch Market Segmentation:
Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/luxury-watch-market.html
-By Product Type
- Quartz/Mechanical
- Digital
Among all, Quartz/Mechanical watches held the major share of the Global Luxury Watch Market. This supremacy has been attributed to several factors.
-By End-Users
- Women
- Men
- Unisex
Out of these, the unisex segment has gained the largest share of the Global Luxury Watch Market. This has been primarily because unisex luxury watches have been efficiently catering to both genders across the globe, and also because consumers have now become more welcoming towards gender-neutral designs.
-By Band Type
- Strap-based- Market Size & Forecast 2019-2030, Thousand Units
- Chain-based- Market Size & Forecast 2019-2030, Thousand Units
-By Distribution Channel
- Online Store- Market Size & Forecast 2019-2030, Thousand Units
- Offline Store- Market Size & Forecast 2019-2030, Thousand Units
Geographical Analysis
-By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
The Asia-Pacific region has been leading the Global Luxury Watch Market, specifically because of the significant economic growth in nations like China, Japan, and South Korea.
Key Reports Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
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Key Advantages of the Report by MarkNtel Advisors:
- Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
- Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
- Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.
Note: If you need additional information not included in the report, we can customize it to suit your requirements.
About Us –
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 5.240+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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