Luxury Watch Market size to increase by USD 1.78 Bn | Driven by Premiumization through Product Design and Innovation | Technavio

NEW YORK, Oct. 28, 2021 /PRNewswire/ — The global luxury watch market size is expected to increase by USD 1.78 billion…

NEW YORK, Oct. 28, 2021 /PRNewswire/ — The global luxury watch market size is expected to increase by USD 1.78 billion during 2020-2025, progressing at a CAGR of over 1% during the forecast period, according to Technavio.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Fossil Group Inc., LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd. are some of the major market participants. Although the premiumization through product design and innovation will offer immense growth opportunities, high competition from smartwatches will challenge the growth of the market participants. To make the 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.

Our report covers the following areas:

Luxury Watch Market 2021-2025: Segmentation

  • End-user
    • Men
    • Women
  • Distribution Channel
    • Offline
    • Online
  • Geography
    • Europe
    • North America
    • APAC
    • MEA
    • South America

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Luxury Watch Market 2021-2025: Scope

Technavio presents a detailed picture of the luxury watch market by the way of study, synthesis, and summation of data from multiple sources.

This study identifies strong brand positioning and branding influencing the purchase decision as one of the prime reasons driving the luxury watch market growth during the next few years.

Luxury Watch Market 2021-2025: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the Luxury Watch Market. Backed with competitive intelligence and benchmarking, our research report on the Luxury Watch Market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Luxury Watch Market 2021-2025: Key Highlights

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will assist luxury watch market growth during the next five years
  • Estimation of the luxury watch market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the luxury watch market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of luxury watch market vendors

Related Reports:

Global Watch Market
 – Global watch market is segmented by Product (Quartz and Mechanical), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, MEA, and South America).

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Global Smartwatch Market – Global smartwatch market is segmented by type (integrated and standalone), operating system (watchOS, Tizen, Wear OS, and others), and geography (North America, APAC, Europe, South America, and MEA).

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Luxury Watch Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of over 1%

Market growth 2021-2025

USD 1.78 billion

Market structure

Fragmented

YoY growth (%)

0.70

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

APAC at 32%

Key consumer countries

US, Germany, China, Canada, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financiere Richemont SA, Fossil Group Inc., LVMH Moet Hennessy Louis Vuitton SE, Movado Group Inc., Ralph Lauren Corp., Rolex SA, Seiko Holdings Corp., and The Swatch Group Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.

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Technavio Research

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Email: media@technavio.com

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SOURCE Technavio