A recent report published by Infinium Global Research on luxury watches market provides in-depth analysis of segments and sub-segments in the global as well as regional luxury watches market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional luxury watches market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global luxury watches market. According to the report, the global luxury watches market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
Luxury watches are high-end watches that symbolize the status or success of individuals. The attention to detail, costly parts, craftsmanship, complex micromechanisms, precision in timekeeping and enticing designs make luxury watches stand apart among other watches. Some of the luxury watches are so complex that it requires months of craftsmanship and top quality materials to manufacture those. Some of the luxury watches are limited edition watches; hence the prestige and cost of those watches are high. Swiss made luxury watches hold high value in terms of brand and customer preference worldwide. Quartz watches have changed the luxury watches industry in a big way as it utilizes an electric motor, easier to manufacture, need lesser parts, and more precise than the conventional mechanical watches.
Excess inventory and sliding sales characterize the current scenario of the market. The emerging fashion trends, rising per capita income in various countries and expansion of online retailing are the major factors that are anticipated to drive the growth of the luxury watches market. Blending tradition with modern smart technology by some manufacturers is expected to enhance the growth of luxury watches in the near future. New products with smart technology introduced for women are expected to drive the growth of the market during the forecast period. High-end smartwatches are anticipated to become mainstream luxury watches in the near future. Moreover, women moving away from smaller watches to bigger dialed watches, unisex watches, and smartwatches are some other factors that are influencing the moderate growth. On the contrary, the high cost of the watches and the presence of replica watches are major factors restraining the growth of the luxury watches market. Moreover, emerging markets luxury watches are expected to provide opportunities for the luxury watches market during the upcoming years.
As per the geographies, Europe dominates the luxury watches market followed by North America. The presence of major luxury watch manufacturers in Switzerland drives the European Market. In the North America region factor such as the introduction of smart technology with new products drives the growth of the market. Further, Asia Pacific is a major growing region for the luxury watches market due to the presence of China, the largest manufacturing nation of luxury watches.
The report on global luxury watches market covers segments such as type, gender, and distribution channel. On the basis of type, the sub-markets include mechanical watch, automatic watch, diving watch, smart watch, and other types. On the basis of gender, the sub-markets include men’s luxury watches, and women’s luxury watches. On the basis of distribution channel, the sub-markets include exclusive branded showrooms, departmental stores, online retailing, and specialist retailers.
The report provides profiles of the companies in the market such as Audemars Piguet Holding SA, Compagnie Financière Richemont SA, Citizen Watch Co., Ltd., Dinh Van SAS, Dolce & Gabbana, Giorgio Armani S.p.A., Patek Philippe S.A., Movado, Richard Mille, The Swatch Group Ltd, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of luxury watches market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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