Global Watch Market 2018-2022
About this market
The growing customization of personal accessories to drive market growth. Customization is a new luxury and is a rage among customers. The key competitors allow customers to design their accessories like watches using color editing options to customize the overall look and feel to create a personalized effect. Technavio’s analysts have predicted that the watch market will register a CAGR of almost 7% by 2022.
Growing popularity of watches as an ideal gift
The disposable income of consumers is on constant rise in many developing countries, which has boosted the purchasing power and spending on premium gifts.
Increased polarization in demand
the degree of polarization is substantially high for personal accessories like bags, watches, and writing instruments, which is expected to pose a threat to the growth of the global watch market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the watch market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Rolex and The Swatch Group the competitive environment is quite intense. Factors such as the growing popularity of watches as an ideal gift and the growing customization of personal accessories, will provide considerable growth opportunities to watch manufactures. LVMH, Richemont, FOSSIL GROUP, Rolex, and The Swatch Group are some of the major companies covered in this report.
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