Global Watch Market, By Product Type (Digital Watches, Analog Watches, Fitness Watches), By Distribution Channel Type (Offline, Online), By End User (Male, Female, Unisex), By Region, Competition, Forecast & Opportunities, 2026
Global watch market stood at USD58.28 billion in 2020 and is expected to grow at a double-digit CAGR of over 12% during the forecast period. The global watch market is driven by increasing disposable income especially in developing countries and rising consumer awareness towards a fit and healthy lifestyle, thus giving boost to the wearable devices industry post COVID-19. Many smartwatches include attributes that are useful for sports enthusiasts, as well as a shifting focus of people towards a healthy lifestyle, are expected to help the global watch market to grow during the forecast period.
The global watch market is segmented into product type, distribution channel, end user, company, and region. In product type, analog watch segment dominated the global watch market in 2020 and is expected to maintain its lead during the projected period, owing to availability of different styles of watches and the presence of multiple companies in this segment. With shifting focus towards a fit and healthy lifestyle, the demand for fitness watches is expected to grow at a faster pace during the projected years. However, analog watches are still preferred by consumers in the wedding season and with formal attire in business meetings. It is also found that there would be a higher demand for unisex watches, with new watch launches that can be worn by both men and women.
Regionally, the watch market has been segmented in regions including Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America is the leading market followed by Europe and Asia-Pacific. Asia-Pacific is the fastest growing market on the account of rising disposable income, especially in developing nations with the growing number of working population.
The major players operating in the global watch market are Apple Inc., The Swatch Group Ltd, Casio Computer Co. Ltd, Citizen Watch Co. Ltd, Fossil Group Inc., Titan company Limited, Seiko Holdings Corp., Samsung Electronics Co., Ltd., Timex Group USA, Inc., Movado Group Inc., and others. Major companies are focusing on product development and launching new products with advanced features to stay competitive in the market. For instance, Samsung has recently launched the Samsung Galaxy Watch 3 which can monitor blood pressure, blood oxygen saturation, and heart rate in addition to several other metrics. It could also take an ECG reading. Apple has also launched the Apple Watch Series 6 with almost similar features. Mergers and acquisitions and new service developments are some of the competitive strategies adopted by the companies in the global watch market.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
- To analyze the historical growth in the market size of the global watch market from 2016 to 2020.
- To estimate and forecast the market size of the global watch market from 2021 to 2026 and growth rate until 2026.
- To define, classify and forecast the global watch market based on product type, distribution channel, end user, company, and region.
- To identify the dominant region or segment in the global watch market.
- To identify drivers and challenges for the global watch market.
- To examine competitive developments such as expansion, new product launches, mergers and acquisitions, etc. in the global watch market.
- To identify and analyze the profile of leading players operating in the global watch market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of the global watch market using a bottom-up approach, wherein data for various end-user segments were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these products and end user for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience:
- Watch manufacturers, suppliers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Market research and consulting firms
- Organizations, forums and alliances related to watch manufacturers
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Global watch market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global Watch Market, By Region:North AmericaUSACanadaMexicoEuropeGermanyFranceUKItalySpainAsia-Pacific IndiaChinaJapanSouth KoreaIndonesiaSouth AmericaBrazilArgentinaColombiaMiddle East & AfricaSouth AfricaSaudi ArabiaUAEIran
- Global Watch Market, By Product Type:
- Digital Watch
- Analog watch
- Fitness watch
- Global Watch Market, By Distribution Channel:
- Global Watch Market, By End Users:
- Global Watch Market, By Company:
- Apple Inc.
- The Swatch Group Ltd
- Casio Computer Co., Ltd
- Citizen Watch Co. Ltd.
- Fossil Group Inc.
Company Profiles: Detailed analysis of the major companies present in the global watch market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
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