DUBLIN--(BUSINESS WIRE)--The "Global Luxury Watch Market Size, Trends And Growth Opportunity, By Type, By End User, By Distribution Channel, By Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Luxury Watch Market was valued at US$45,661.6 million in 2021 and it is expected to reach at US$51,315.5 million in 2027 at a CAGR of 1.84 % during forecast period 2022-2027.
Companies Mentioned
- CASIO Computer Co. Ltd.
- Citizen Watch Co. Ltd.
- Compagnie Financiere Richemont SA
- Fossil Group Inc.
- LVMH Moet Hennessy -Louis Vuitton
- Movado Group Inc.
- Patek Philippe SA
- Rolex SA
- Seiko Holdings Corp.
- and The Swatch Group Ltd.
High-end, high-quality accessories made by master artisans include luxury timepieces in their price range. They are fashioned of valuable metals like platinum, gold, and silver, and are embellished with gems like diamonds and rubies. In order to enhance a person's personality and sense of style, they are worn on the wrist. These luxury watches may easily be distinguished from their more affordable counterparts due to the fact that they are more expensive, exclusive, and handcrafted rather than mass-produced.
Market Drivers
The development in brand awareness has influenced Westernization, the innate craving for exclusivity, and rising fashion consciousness among people. Additional key elements that are anticipated to contribute to the luxury watch market's estimated growth rate are product enhancement, the use of social media platforms to increase consumer involvement and knowledge of product launches, and the adoption of appropriate distribution channels.
Market Restraints
The main factor limiting the growth of the luxury watch market is the high price of the luxury watch and the quick rise in the price of the production process. Moreover, the prevalence of these items' counterfeits during the anticipated time may pose a threat to the market's growth rate for luxury watches.
Market Segmentation
By Type
- Analogue Watch
- Digital Watch
By End User
- Men
- Women
- Unisex
By Distribution Channel
- Online
- Offline
Key Question Addressed by the Report
- What are the Key Opportunities in Global Luxury Watch Market?
- What will be the growth rate from 2022 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the role of key players in the value chain?
- What is the competitive Landscape in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/dbvx7d
