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Global Luxury Watch Market Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of Luxury Watch Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global luxury watches market encompasses digital and analog high-end luxury market. The global luxury watches market was valued at EUR 192,335 in 2015 and is expected to expand with a decent CAGR in near future. Geographically, the global luxury market is segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, MEA & ROW.

Market Segmentation

The global luxury watches market is segmented into below mentioned categories:

By Product Type

  • Mechanical
  • Quartz

By Distribution Channel

  • Internet Retailing
  • Departmental Stores
  • Specialist Retailers
  • Exclusive Showrooms

By Demography

  • Male Watches
  • Female Watches

By Geographically

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

Factors like LAM (look at me), increasing fashion trends, expanding e-commerce market, rising per capita income are expected to drive the global luxury watch market.

However, the high cost, copying/replica being sold at a much lower price, lack of government laws for the luxury watches segment etc. are some of the factors that would work as a roadblock for global luxury watches market.

Market size and forecast

At present, China holds the top position (50.33%) in producing luxury watches followed by Switzerland in the global luxury watches market. CLICK TO DOWNLOAD FREE SAMPLE REPORT

North America and Europe are the great market for global luxury watches. When combined together, the regions account for 40.4% share in the global market luxury market.

Key Players

  • Audemars Piguet
  • Burberry
  • Casio
  • Chanel
  • Chopard
  • Citizen
  • Dolce & Gabbana
  • Giorgio Armani
  • Patek Philippe
  • Timex
  • Titan
  • Seiko                                                                                                                                               

 


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