Luxury Watch Comprehensive Study.

About Luxury Watch

Luxury watches are timepieces that have been crafted using the finest materials and the most precise movements. They are designed to last for decades and often feature intricate details and unique designs. Luxury watches are highly sought after by collectors and enthusiasts alike, due to their quality, craftsmanship, and exclusivity. Thus, the growing consumer preference for high-quality, premium watches, perceived as status symbols, is the major driving factor for the luxury watches market.

AttributesDetailsStudy Period2018-2030Base Year2023UnitValue (USD Million)CAGR5.3%

Competition among existing players is due to the Luxury Watch market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Luxury Watch market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Luxury Watch market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.Rolex (United Kingdom), LVMH Group (France), Richemont (Switzerland), The Swatch Group Ltd (Switzerland), A. Lange & Sohne (Germany), Apple Inc. (United States), Bernard (United States), Fossil Group, Inc. (United States), Citizen Watch Co., Ltd. (Japan) and Seiko Holdings Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Casio Computer Co., Ltd. (Japan), Audemars Piguet (Switzerland) and Others.

Segmentation Overview

AMA Research has segmented the market of Global Luxury Watch market by Type (Quartz Watch and Mechanical Watch) and Region.On the basis of geography, the market of Luxury Watch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Watch Case Shape, the sub-segment i.e. Round will boost the Luxury Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Watch Display Type, the sub-segment i.e. Analogue will boost the Luxury Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Luxury Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Watchband Material, the sub-segment i.e. Stainless Steel will boost the Luxury Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Men will boost the Luxury Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.

Influencing Trend:

Shift In Trend From Conventional to Golden and Diamond Watches and The Rise in Focus on Research and Development and Expanding Into New Market

Market Growth Drivers:

Emerging Fashion Trend Among the Millennials, Rapid Urbanization and Use of Luxury Watches as A Status Symbol

Challenges:

High Production Cost

Restraints:

Rising Political Uncertainty

Opportunities:

Luxury E-commerce is Gaining Traction

Market Leaders and their expansionary development strategies

In August 2023, Rolex, the world’s leading watch brand and a byword for luxury, announced the acquisition of Bucherer, the world's largest watch retailer. This acquisition can only be described as a strategic masterstroke. The move offers significant synergies and potential for both sides, and it has far-reaching implications for both brands and their competitors, especially in a hyper-competitive market where access to clients is a critical success factor.In December 2022, Rolex launched new certified pre-owned watch programme. The certification guarantees that these watches benefit from the quality criteria inherent to all Rolex products and from the full know-how and professionalism of the brand’s worldwide network of experts.

Key Target Audience

Luxury Watch Manufacturers, Luxury Watch Traders, Government and Research Organizations, Integrated Device Manufacturers (IDMs), Wearable Electronics Technology Platform Developers and Others

About Approach

To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.https://www.advancemarketanalytics.com/sample-report/18742-global-luxury-watch-market?industry=apparel-accessories-luxury-goods?utm_source=LinkedIn&utm_medium=Hrushikesh