Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Watches and Clocks - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Watches and Clocks is estimated at US$62.6 Billion in 2023 and is projected to reach US$81.5 Billion by 2030, growing at a CAGR of 3.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the watches and clocks market is driven by several factors that underscore the dynamic nature of this industry. Firstly, the increasing disposable income and changing lifestyles in emerging economies are boosting the demand for luxury and premium timepieces, as consumers seek to express their status and personal style. Secondly, the continuous technological advancements, particularly in smartwatches, are attracting a younger demographic that values connectivity and multifunctionality. The rising health and fitness awareness is also propelling the adoption of smartwatches with integrated health monitoring features.
Additionally, the growing trend of customization and personalization is driving the demand for bespoke and unique timepieces, as consumers seek products that reflect their individuality. The expansion of online retail platforms has further facilitated market growth by making watches and clocks more accessible to a global audience.
Lastly, the focus on sustainability and ethical practices is resonating with environmentally conscious consumers, prompting brands to innovate and adopt greener practices, thereby attracting a broader customer base. These factors collectively contribute to the robust growth and continued evolution of the watches and clocks market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Quartz Watches and Clocks segment, which is expected to reach US$52.5 Billion by 2030 with a CAGR of a 3.2%. The Mechanical Watches and Clocks segment is also set to grow at 5.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $12.5 Billion in 2023, and China, forecasted to grow at an impressive 5.2% CAGR to reach $9.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Alpina Watch International SA, Audemars Piguet, Casio Computer Co., Ltd., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 795 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $62.6 Billion |
| Forecasted Market Value (USD) by 2030 | $81.5 Billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- An Introduction to Clocks and Watches
- Clocks
- Watches
- Time: An Important Requirement for Mankind Since Time Immemorial
- Watches & Clocks Market in a Nutshell
- Global Watches and Clocks Market: Prospects and Outlook
- Luxury Watches and Smartwatches Support Growth of Watches Market
- While Developed Regions Lead Revenue Generation, Developing Regions Emerge as Hot Spots of Future Growth
- Competitive Landscape
- Watches: A Highly Competitive Marketplace
- Top Global Watch Brands
- Sports & Fitness Watches Market
- Social Media Evolves into Core Business Tool for Vendors
- Watch Brands Expand Presence into Online Retail Channel
- Mobile e-Commerce: A Game Changer
- Recent Market Activity
- Watches and Clocks - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Luxury Watches: A Strong Growth Driver for the Watch Market
- High Millionaires' Population Steers Demand for Luxury Watches: Number of Millionaires in Thousands for Select Countries in 2024
- Global Luxury Watch Market: Percentage Breakdown of Sales by Distribution Channel for 2024
- Swiss Watches: The Primary Luxury Watch Category
- Affluent Millennials Transform Luxury Watches Market
- Global Millennial Population Facts & Figures: Important Opportunity Indicators
- High Potential for High-End Classic Watches Market
- Pre-owned Luxury Watches Market Witnesses Robust Demand Worldwide
- Luxury Goods Market: An Opportunity Indicator for Luxury Watch Sales
- Luxury Brands Differentiate Even in Digital Transition Efforts
- Popularity of Intelligent Wristwear for Digitally Connected and Mobile Individuals Augurs Well for Smartwatches Market
- Growth Drivers & Challenges in a Nutshell
- A Comparison of Select Popular Smartwatches
- While Quartz Watches Continue to Lead, Mechanical Watches Market Gradually Gains Momentum
- Sports Watches: A Niche Segment Thriving on the Rising Importance of Health & Fitness
- Popular Sports Watch Models: An Overview
- Popular GPS-based Sports Watches
- Vintage Watches: A Lucrative Market with Huge Market Potential
- Multiple Advantages Offered for Designers in Creating Prototypes Promotes Demand for 3D Printing in Watchmaking
- Notable Trends Influencing Watch Designs
- Growing Appeal of Colors
- Blue: Bridging Traditional with Modern
- Green Draws Color Experimentation
- Return of Two-Tone Watches and Bronze Shade
- Versatility: An Important Feature
- Timepieces Become Gender Neutral
- Retro Style and Small Vintage Watches in Fashion
- Small Watches Make a Comeback
- Use of Sophisticated Composites on the Rise
- Sustainability Gains Importance
- Classic Three-Hand Watches
- Watches with Dazzling Gems
- Favorable Demographic and Economy Trends Strengthen Market Prospects
- Urbanization Trend Boosts Market Prospects
- Improving Standards of Living: A Key Growth Driver
- Issues & Challenges
- Counterfeiting: The Perpetual Problem for Watches and Clocks Industry
- Traditional Watch Companies Face the Rising Threat of Design Copying
- Innovation & Advancements Drives Watches & Clocks Market
- Design Innovations in Watches: A Review of Latest Trends
- Innovations in Mechanical Watchmaking
- An Insight into Top Innovative Watches of Recent Times
- Luxury Watch Innovations: A Never Ending Saga
- Innovation Becomes Imperative Amid Growing Threat from Smartwatches
- Luxury Watches Embrace Digital and Dual Display Designs
FOCUS ON SELECT PLAYERS(Total 329 Featured)
- Alpina Watch International SA
- Audemars Piguet
- Casio Computer Co., Ltd.
- Timex Group USA
- Tissot SA
- Zodiac Watches
- Tiffany & Company
- Tag Heuer International SA
- Rolex SA
- Rhythm Watch Co.
For more information about this report visit https://www.researchandmarkets.com/r/aa856d
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