Consumer Goods & Food

Luxury Watch Market Segmentation by Type (Analogue, and Digital); by Distribution Channel (Online Retail, Departmental Stores, and Exclusive Showrooms); and by Design (Male, Female, and Unisex) – Global Demand Analysis & Opportunity Outlook 2029

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Report ID: 126 | Published On: Apr 04, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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Global Luxury Watch Market Highlights over 2020-2029

The global luxury watch market is estimated to garner modest CAGR over the forecast period, i.e., 2021 – 2029. The growth of the market can be attributed to the increasing spending capacity of consumers backed by rising disposable income of high class and upper-middle class individuals, who are the target consumers for this market. Moreover, escalating shift towards following trends and adoption of high-end brands is estimated to boost the market growth. The market is concentrated in highly developed nations, where consumers can afford expensive products for their brand value.

Luxury Watch Market

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The market is segmented by distribution channel into online retail, departmental stores, and exclusive showrooms, out of which, the exclusive showrooms segment is anticipated to hold the largest share in the market during the forecast period as exclusive showrooms provide a satisfactory shopping experience to the consumers in the form of trials, personal assistance and overall sensory experience. Additionally, there are no shipping charges or any additional fee, which attracts the shoppers to opt exclusive showrooms over other channels, which is expected to boost the growth of the segment. On the basis of design, the market is segmented into male, female, and unisex watches, out of which, the unisex segment is anticipated to hold a major share in the market over the forecast period owing to its larger scope of application.


Global Luxury Watch Market Regional Synopsis

Regionally, the global luxury watch market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the North America region is estimated to hold the largest share over the forecast period owing to the presence of major market players in the region, coupled with high per capita income and expanding status of upper middle class. Luxury watches stand as a status symbol among the young generation, in the region, which is estimated to boost the market growth. The market in Europe is anticipated to closely follow the market in North America and hold a major market share owing to the high disposable income of the consumers in the region. Countries, such as, Switzerland, and U.K. are estimated to witness maximum growth owing to the stable economy, and high spending potential of the consumers.

The global luxury watch market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & 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 & Opportunity Analysis


Market Segmentation

Our in-depth analysis of the global luxury watch market includes the following segments:

By Type

  • Analogue
  • Digital

By Distribution Channel

  • Online Retail
  • Departmental Stores
  • Exclusive Showrooms

By Design

  • Male
  • Female
  • Unisex


Luxury Watch Market
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Growth Drivers

  • Rising Personal Disposable Income in Developed Countries
  • Growing Trend of Adoption of High-End Brands among Young Consumers

Challenges

  • Increasing Circulation of Replica of such Watches on a Much Lower Price
  • Extremely High Cost of Luxury Watches


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Top Featured Companies Dominating the Market

    • ROLEX SA
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Audemars Piguet
    • Burberry Group plc
    • CASIO COMPUTER CO., LTD.
    • CHANEL
    • Dolce&Gabbana S.r.l.
    • Seiko Watch Corporation
    • Giorgio Armani S.p.A.
    • PATEK PHILIPPE SA GENEVE
    • Titan Company Limited

Key Questions Answered in the Report

1) What are the major factors driving the growth of the luxury watch market?

Ans: High brand value of luxury watches, along with the increasing per-capita income in developed economies is estimated to boost the market growth.

2) What would be the CAGR of luxury watch market over the forecast period?

Ans: The market is anticipated to attain a modest CAGR over the forecast period, i.e., 2021-2029.

3) What are the challenges affecting the luxury watch market growth?

Ans: High price of luxury watches, along with increasing circulation of cheap replicas in the market are estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of luxury watch market in future?

Ans: The North America region is estimated to provide most growth opportunities over the forecast period on the back of high disposable income of the consumers.

5) Who are the major players dominating the luxury watch market?

Ans: The major players in the market are Burberry Group plc, CASIO COMPUTER CO., LTD., CHANEL, Dolce&Gabbana S.r.l., Seiko Watch Corporation, Giorgio Armani S.p.A., PATEK PHILIPPE SA GENEVE, and Titan Company Limited.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the luxury watch market?

Ans: The market is segmented by type, distribution channel, design, and by region.

8) Which segment captures the largest market size in distribution channel segment in the luxury watch market?

Ans: The exclusive showroom segment is anticipated to hold largest market size over the forecast period owing to sensory shopping experience provided by such showrooms.

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