Press Release

Luxury Watches Market Will Hit Big Revenues In Future | CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière Richemont SA

Luxury Watches Market by Type (Mechanical Watches and Electronic Watches), End User (Men and Women), and Distribution Channel (Online Store, Single Brand Store and Multi Brand Store): Global Opportunity Analysis and Industry Forecast 2021-2027   , Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Luxury Watches market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Luxury Watches market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis

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“Luxury Watches Market by Type, End User and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,”

The global Luxury Watches Market is expected to reach $ 51,317.3 million by 2027 at a CAGR of 4.50% from 2021 to 2027. 

Luxury watch is a luxury good, which showcases luxury lifestyle and high status symbol. Upper and upper class of the society is majorly targeted for this kind of products as it is affordable by the very small group of people in the world. Growing population with high income due to innovation and disruption of the Internet of Things positively affect every business in the era of the Internet of Things, which directly impacts the luxury goods and Luxury Watches Markets. Innovators and business disruptors are becoming millionaires in the dynamic business environment such as Alibaba founder Jack Ma. It may happen in every industry such as healthcare industry and automobile. For instance, the UnitedHealth Group’s net income during the second quarter grew from $3.4 billion in 2019 to $6.7 billion in 2020 and Anthem Inc’s net income increased from $1.1 billion to $2.3 billion.

However, fraudulent and counterfeit luxury watches are significantly affecting the growth of the Luxury Watches Market during the forecast period. Manufactures and buyers both incur loss due to fraudulent and counterfeit products.

The luxury watches market is segmented into type, end user, distribution channel, and region. On the basis of type, the Luxury Watches Market report is categorized into mechanical watches and electronic watches. By end user, it is segregated into men and women. According to distribution channel, it is divided into online store, single brand store, and multi brand store. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Switzerland, Russia, Spain, Italy, France, Germany, the UK, and Rest of Europe), Asia-Pacific (China, Japan, Hong Kong, India, Singapore, South Korea, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

On the basis of type, the electronic watches segment was valued at $10,742.2 million in 2019, and is projected to reach $14,202.1 million by 2027, registering a CAGR of 6.0% from 2021 to 2027. This is attributed to the fact that electronic is an emerging technology in the Luxury Watches Market and it has been gaining major popularity among the working population as they are expected to embrace sports and fitness as a part of recreational activity. In addition, endurance sports have also paved a strong ground for the enthusiast to grab varieties in the sports wearable segment, thereby, escalating the electronic luxury watches sales and subsequently the sales of luxury watches in the global market.

On the basis of end user, the men segment was valued at $19,921.4 million in 2019, and is estimated to reach $24,606.8 million by 2027, at a CAGR of 5.10%. Luxury watch has been gaining major traction among men due to the rising trend of fashion among men. Businessmen, high profiled officials, and men engaged in fashion business are the target customers of luxury watches, as these people can afford luxury watches. Increasing adoption of professional attire and having costumes & accessories, which suit to specific professions are expected to motivate men for buying luxury watches. 

According to the Luxury Watches Market trends, on the basis of distribution channel, the online store segment was valued at $12,882.9 million in 2019, and is expected to reach $16,930.0 million by 2027, registering a CAGR of 6.00% from 2021 to 2027. Easy accessibility offered by online platforms boosts their adoption in the market, thus becoming a popular medium for the purchase of luxury watches. Furthermore, on e-commerce platforms, people can have enormous brand options of luxury watches, which help consumers to compare products and buy them.

Region-wise, Asia-Pacific has been gaining significant traction in the luxury watches market and is growing at the fastest CAGR. Many Asian countries are also showing similar developments as rising income levels, and expansion of modern retail & single brand stores across this region are driving the reach of luxury watches, and are anticipated to position strong development in developing countries in the Asia-Pacific region, including India and China. The growing retail industry in India has been majorly fueling the growth of the market. Emerging Asian economies are progressing fast. Their consumption of luxury goods, including luxury watch is increasing day by day. Many internationally acclaimed luxury brands witnessed huge increase in sales in the Asian region. In fact, Asian tourists to Europe and America also indulged in purchasing luxury watches in large quantities.

The players operating in the luxury watch industry have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report include CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière 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.

Key findings of the study 

The luxury watches market was valued at $43,661.8 million in 2019, and is estimated to reach $51,317.3 million by 2027, growing at a CAGR of 4.50% during the forecast period. 

By type, the electronic watches segment is estimated to witness the fastest growth, registering a CAGR of 6.00% during the forecast period.

In 2019, depending on end user, the women segment was valued at $23,740.4 million, accounting for 54.4% of the global Luxury Watches Market share. 

In 2019, India was the most prominent market in Asia-Pacific, and is projected to reach $727.4 million by 2027, growing at a CAGR of 9.70% during the forecast period.

 Key Segments Studied in the Global Luxury Watches Market: Report Coverage

Professional Key players:  The key players profiled in this report include CASIO Computer Co. Ltd., Citizen Watch Co. Ltd., Compagnie Financière 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.

Market Segmentation:

Luxury Watches Market by Type (Mechanical Watches and Electronic Watches), End User (Men and Women), and Distribution Channel (Online Store, Single Brand Store and Multi Brand Store): Global Opportunity Analysis and Industry Forecast 2021-2027

Regional Scope:  

North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa, United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Forecast Period 2020 to 2027 CAGR:    XX

Pages: 100+

Tables, Charts & Figures: 100+

Growth Drivers Pitfalls & Challenges

COVID-19 – Next Thoughts: In this piece, we have shared key data and numbers that shine a spotlight on the current scale of the crisis and the economic fallout.

A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021

covid-19 scenario

Market Behavior/ Level of Risk and Opportunity

End Industry Behavior/ Opportunity Assessment

Expected Industry Recovery Timeline

Business Impact Horizon

Opening of Economy by Q3 2020

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xx

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Recovery – Opening of Economy extended till Q4 2020 / Q1 2021

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Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.

Study Explore :

  • Market Behavior/ Level of Risk and Opportunity
  • End Industry Behavior/ Opportunity Assessment
  • Expected Industry Recovery Timeline

For more information or any query mail at [email protected]

In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects:

Informational Takeaways from the Market Study: The report includes the completely examined and evaluated data of the noticeable companies and their situation in the market considering impact of Coronavirus. The measured tools including SWOT analysis, Porter’s five powers analysis, and assumption return debt were utilized while separating the improvement of the key players performing in the market.

Key Development’s in the Market: This report fuses the major developments of the market that contains confirmations, composed endeavors, R&D, new thing dispatch, joint endeavours, and relationship of driving members working in the market.

 

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Key Points Covered in Luxury Watches Market Report: Table of Contents

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of Luxury Watches market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with Luxury Watches  Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

……..and view more in complete table of Contents

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