Watches Market Overview, Future Trends, Product Outlook & SWOT Analysis, 2025

Felton, Calif., USA, Dec. 08, 2020 — /EPR Network/ —

The global Watches Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.

Market Overview:

According to the latest study done by Million Insights, the global watches market is predicted to reach USD 117.8 billion, by 2025. The market is estimated to grow with a CAGR of 13.0% over the forecast period. The introduction of smartwatches with features such as Bluetooth connectivity and near field characteristics (NFC) is anticipated to drive the demand of the product.

Key Players:

• Rolex SA
• Casio Computer
• Citizen Watch
• TAG Heuer S.A.
• Oakley
• Seiko Holdings Corporation
• Omega SA
• Apple
• Patek Philippe SA
• Fitbit
• Titan Company Limited

Request free sample to get a complete analysis of top-performing companies @ https://www.millioninsights.com/industry-reports/global-watches-market/request-sample

Growth Drivers:

The increase in purchasing power of the middle-class in countries like India, Brazil and China will allow them to choose different varieties of watches according to their needs. Moreover, watches are popular as a gift item. This factor is estimated to supplement the market growth.

There is an increased demand for such watches due to the onset of new advanced products by prominent companies such as Fitbit Inc., Apple, and Samsung. The availability of multiple variants in smartwatches according to different age divisions has increased its penetration in different geographical regions. Further, fitness watches are gaining popularity because of the increasing demand for such watches by fitness enthusiasts and sportspersons. Customers are more attracted to cost-effective fitness and smartwatches with higher battery life. They are becoming aware of the various benefits provided by these products through the attractive features and fashionable accessories.

Product Outlook:

• Smart
• Fitness
• Luxury

Operation Outlook:

• Quartz
• Mechanical

Distribution Channel Outlook:

• Hypermarket/Supermarket
• Convenience Stores
• Online

Regional Insights:

Asia Pacific is estimated to exhibit the highest CAGR over the forecast period. The region is projected to grow with a CAGR of 13.9% over the forecast years. The demand for watches is set to upscale over the next few years due to changing lifestyles, urbanization, and an increase in disposable income in developing countries including India and China. Europe, on the other hand, is predicted to expand at a CAGR of 13.9% from 2019 to 2025 and hold a notable share with new lines of the product introduced by companies like Omega, Tag Heuer, and Rolex.

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