IMARC Group, a leading market research company, has recently releases report titled “Watch Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global watch market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

A wristwatch or pocket watch is a compact and portable device used for measuring time. It consists of a timekeeping mechanism, which can be either quartz or mechanical, housed within a protective case. These timepieces can be crafted from valuable metals like gold, silver, or platinum and adorned with gemstones such as rubies and diamonds. Their primary purpose is to accurately display the current time, enabling the wearer to conveniently keep track of hours, minutes, and seconds. Today, watches are available in a wide array of styles, designs, and materials, providing numerous options to suit personal preferences and fashion trends.

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List of key players:

Apple Inc., Casio Computer Co. Ltd., Citizen Watch Co. Ltd., Fossil Group Inc., LG Electronics Inc., Movado Group Inc., Rolex SA, Samsung Electronics Co. Ltd., Seiko Holdings Corporation, The Swatch Group Ltd., Titan Company Limited and Xiaomi Corporation.

Watch Market: Key Drivers and Trends

The global demand for watches is being fueled by the growing trend of using high-end fashion as a symbol of status. Additionally, the market is benefiting from increased sales of premium and luxury watches due to rapid urbanization and rising income levels. Another positive influence on the market is the widespread adoption of smartwatches, which can connect to fitness apps to provide valuable insights into individuals' overall health and track their nutrition. Furthermore, the market is experiencing growth due to the rising popularity of gifting unique premium items such as watches on special occasions like festivals, birthdays, and anniversaries.

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 Watch Market 2023-2028: Segmentation

Breakup by Type:

• Quartz
• Mechanical

Breakup by Price Range:

• Low-Range
• Mid-Range
• Luxury

Breakup by Distribution Channel:

• Online Retail Stores
• Offline Retail Stores

Breakup by End User:

• Men
• Women
• Unisex

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Report Purchase Reason:

• Historical market data from 2017-2022
• CAGR of the market during the forecast period 2023-2028
• Detailed information on factors that will drive Watch Market growth during the next five years
• Precise estimation of the Watch Market size and its contribution to the parent market
• Upcoming market trends and changes in consumer behaviour
• The growth of the Watch Market industry across North America, Asia Pacific, Europe, Latin America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on key players
• Comprehensive details of factors that will challenge the growth of Watch Market key players