The global luxury watch market size is projected to exhibit impeccable growth in the forthcoming years. The use of high-end products to enhance one’s look has become a popular trend in recent years. The perception of using high-end luxury watches as status symbols are growing and is expected to be a major growth propellant for the luxury watch market. Fortune Business Insights™ has presented this information in an upcoming report, titled, “Luxury Watch Market Size, Share, Growth and Forecast Report, 2023-2030”.
According to the report, the luxury watch market is gaining immense popularity due to several reasons. For instance, the rising product innovations and the incorporation of advanced technological features are expected to boost the demand for luxury watches due to enhanced functionality.
Leading Players Featured in the Luxury Watch Market Research Report:
- Patek Phillipe SA
- Vacheron & Constantin SA
- Audemars Piguet Holding SA
- Blancpain SA
- Ulysse Nardin SA
- Rolex Sa
Report Coverage-
- The report features an exhaustive analysis of the luxury watch industry.
- The report analyzes the COVID-19 impact and suggests methods to grow during and after the pandemic.
- The report offers an analysis of the market opportunities and drivers for market growth.
- The report incorporates SWOT Analysis and PESTLE Analysis for an accurate market forecast.
- The report also addresses market forecasts and estimates.
Drivers & Restraints-
Enhancing Income Levels to Fuel Market Growth
The rising per capita income levels, enhancing living standards, and the escalating numbers of wealthy people worldwide are expected to bolster the global luxury watch market growth. The surging consumer perception of luxury watches as a status symbol due to their high price, scarcity, and aesthetics are also anticipated to fuel the market growth.
The use of precious metals and stones in luxury stones is expected to attract the richer sections of society and boost market growth. The incorporation of smart technologies such as heart rate sensors, blood pressure monitors, and oxygen level monitors in digital luxury watches is expected to attract immense popularity due to the rising digitization and thus amplify market growth.
Additionally, the increasing numbers of high-earning women are anticipated to fuel the demand for women’s luxury watches and complement market growth. However, the focus on only the richer section of society may impede market growth.
Segmentation-
By Product
- Mechanical
- Electronic
By Distributional Channel
- Online
- Offline
By Geography
- North America (U.S., Canada, and Mexico)
- Europe (France, Germany, Italy, Spain, U.K., Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)
- South America (Brazil, Argentina, and Rest of South America)
- Middle East & Africa (South Africa, UAE, and Rest of ME&A)
Browse Detailed Summary of Research Report:
https://www.fortunebusinessinsights.com/luxury-watch-market-104410
