The watches and clocks market size is expected to see steady growth in the next few years. It will grow to $67.87 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to customization and personalization trends, sustainability and ethical practices, e-commerce and digital retail expansion, smartwatch integration, cultural and regional influences. Major trends in the forecast period include fashion-technology collaborations, global economic factors, changing demographics, innovative marketing strategies, supply chain challenges.
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Segmentation & Regional Insights
The watches and clocks market covered in this report is segmented –
1) By Type: Sport Watches, Luxury Watches, Diamond Watches, Alarm Clock, Wall Clock
2) By Distribution Channel: Offline, Online
3) By Application: Display Time, Adornment, Collection, Other Applications
Asia-pacific was the largest region in the watches and clocks market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the watches and clocks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Propelling infrastructure development is significantly contributing to the growth of the watches and clocks market going forward. Infrastructure refers to the underlying physical structures of an organization, area, or country which frequently involves the creation of public goods or manufacturing methods. Clocks are used in commercial spaces and offices to keep time and manage work. For instance, according to a 2022 report published by the Bureau of Economic Analysis (BEA), a US-based government organization that provides official macroeconomic and industry statistics, the size of the US construction industry increased from $1.916 trillion in the first quarter of 2021 to $2.016 trillion in the first quarter of 2022. Therefore, the propelling infrastructure development will drive the watches and clocks market.
Key Industry Players
Major companies operating in the watches and clocks market report are Apple Inc., Audemars Piguet Holding SA, Breitling SA, Casio Computer Co. Ltd., Chelsea Clock Company, Citychamp Watch & Jewellery Group Limited, Compagnie Financière Richemont SA, Cartier International SNC, Montblanc-Simplo GmbH, Fossil Group Inc., Garmin Ltd., Alpina Watch International SA, Timex Group USA, Tissot SA, Zodiac Watches, Tiffany & Company, Tag Heuer, Seiko Holdings Corporation, Citizen Watch Co. Ltd., Patek Philippe SA, Swatch Group, Rolex SA, Movado Group Inc., Bulova Corporation, Rado Watch Co. Ltd., Longines, Piaget SA, Le Petit-Fils de L.-U. Chopard & Cie S.A., Ulysse Nardin SA, Breguet, Blancpain, Montres Corum Sàrl, Girard-Perregaux SA, H. Moser & Cie, IWC International Watch Co. AG, Jaeger-LeCoultre, Panerai, Parmigiani Fleurier, Roger Dubuis, Vacheron Constantin, Zenith SA
The watches and clocks market report table of contents includes:
1. Executive Summary
2. Watches and Clocks Market Characteristics
3. Watches and Clocks Market Trends And Strategies
4. Watches and Clocks Market – Macro Economic Scenario
5. Global Watches and Clocks Market Size and Growth
……………………………
31. Global Watches and Clocks Market Competitive Benchmarking
32. Global Watches and Clocks Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Watches and Clocks Market
34. Watches and Clocks Market Future Outlook and Potential Analysis
35. Appendix
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