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- Precision, quality, luxury, design, perfect workmanship, tradition, coupled with specialist technology: the luxury watch industry combines traditional Swiss values in a traditional Swiss product, and as a highly export-driven sector, it conveys these values to the wider world.
www.statista.com/topics/1991/luxury-watch-industry/
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How big is the luxury watch market?
What is the value of the luxury watch market in 2023?
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What factors will drive the luxury watch market growth in 2022?
The Luxury Watch Market size is estimated at USD 51.31 billion in 2024, and is expected to reach USD 68.17 billion by 2029, growing at a CAGR of 5.84% during the forecast period (2024-2029). Consumers worldwide are inclined toward quality products made with highly advanced production technologies, materials, and methods.
The global luxury watch market size was valued at USD 42.21 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.0% from 2023 to 2030.
- The global luxury watch market size was estimated at USD 42.21 billion in 2022 and is expected to reach USD 45.00 billion in 2023. Read More
- The global luxury watch market is expected to grow at a compound annual growth rate of 5.0% from 2023 to 2030 to reach USD 62.25 billion by 2030. R...
- Asia Pacific dominated the luxury watch market with a share of 49.0% in 2022. This is attributable to rapidly changing consumer behavior and rising...
- Some key players operating in the luxury watch market include Rolex SA, A. Lange & Söhne, Apple Inc., The Swatch Group Ltd, Bernard Watch Co., FOSS...
- Key factors that are driving the market growth include rising preference for luxury watches as a status symbol among adults worldwide, and increasi...
Apr 3, 2024 · Global watch market: main export countries based on number of units 2019-2022. Industry overview. International trade. Leading brands & companies. Consumer behavior. Find the most...
- Luxury Watch Market Growth
- Luxury Watch Market Trends
- Recent Trends
- Industry Outlook
- Presence of Counterfeit Products Can Challenge Global Luxury Watch Market
- Expansion of E-Commerce Supporting Global Market
- Key Price Indicators in Global Market
- Key Demand Indicators in The Global Market
- Global Luxury Watch Industry Segmentations
- Global Luxury Watch Market Share
A luxury watch is a watch that has a premium price and high-quality and premium materials. They can also come with advanced and complex dials and are quite often handmade which brings authenticity and originality to the watch. Manufacturers of luxury watches ensure that the watch is made with utmost attention to give quality and performance for a p...
Customised watches are another trend which is driving the demand of luxury watch. Personalised dials, engravings, custom straps add value to the watches and provide a unique look which is attracting many customers globally. Rising popularity of gifting such customised luxury watches is also helping the growth of the market for luxury watches. Coupl...
As per the luxury watch market analysis, Grand Seiko announced the launch of Grand Seiko SBGE305 in 2024, which is a new addition to its series of GMT watches. This watch consists of a red dial along with a black ceramic bezel, which can make this watch appealing to buyers who are searching for superior aesthetic quality.
According to the Federation of the Swiss Watch Industry FH, in 2019, Europe accounted for 31% of the Swiss watch exports, which slightly declined to 29% in 2020, and maintained at 30% in 2021 and 2022. As per the luxury watch industry analysis, The USA showed a share of 11% in 2019, which increased to 12% in 2020 and further rose to 14% in both 202...
The high cost of luxury watches makes them inaccessible to a broader market, limiting their customer base primarily to the affluent.
Expanding into emerging markets like Asia and the Middle East, where growing numbers of affluent consumers are present, can significantly boost sales.
Luxury watches typically have a high ASP due to premium materials, craftsmanship, and brand prestige that can influence growth of the luxury watch market.
Luxury watch market opportunities are highly correlated with disposable income levels and economic stability, as they are considered luxury items.
Based on product, the market is segmented into electronic and mechanical. On the basis of distribution channel, the luxury watch market segmentation is offline and online. The regional markets for the luxury watches are divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The comprehensive EMR report ...
Based on product
Electronic luxury watches accounts for a larger share of the luxury watch market, fuelled by the growing demand for electronic watches overall. More consumers are investing in electronic luxury watches that are equipped with additional features and functionalities such as monitoring of heart rates, multi-sport tracking, sleep tracking, phone integration, and GPS capabilities. Meanwhile, mechanical luxury watches are projected to witness rapid growth in the coming years, supported by the popul...
Based on Distribution Channel
Online distribution channels account for a sizable share of the market for luxury watches due to the increased convenience and accessibility it provides customers. In online shopping, customers can compare prices online and buy whichever suits them best, choosing from a wide variety of models. Furthermore, offline luxury watches brand outlets tend to be limited and concentrated in major locations, resulted in a limited reach. Through online distribution channels, customers can purchase luxury...
Market Overview. The global luxury watch market size was valued at USD 7.52 billion in 2021. It is projected to reach USD 12.24 billion by 2030, growing at a CAGR of 5.56% during the forecast period (2022–2030).
Global Luxury Watch Market, By Type (Analogue Watch, Digital Watch), Gender Type (Men, Women, Unisex, Kids), Sales Channel (Online, offline) – Industry Trends and Forecast to 2030. Get Exclusive Sample PDF of this Report Here.
Sep 9, 2024 · A luxury watch is a high-end timepiece characterized by craftsmanship, customization, and materials. These watches are considered functional timekeeping devices and symbols of status, elite craftsmanship, and style.
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