Global Luxury Watch Market by Product (Electronic, Mechanical), by Distribution Channel (Offline, Online) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global luxury watch market was worth USD 6.9 billion. The market is driven by the growing popularity of luxury watches as status symbols among adults. Market growth will be aided by new product launches from companies like Rolex, Sonata and Titan.

To increase their revenues, some companies offer limited edition watches in different designs and features. Limited edition watches include the Louis Moinet Singapore Edition and Bovet 1822.

The demand for luxury watches for women is increasing. Companies are expanding their product lines for women, as women are more interested in upgrading watches than men. TIFFANY &CO and PATEK PHILIPPE TWENTY are some of the latest women's luxury product launches.

The shift from traditional watches to gold and diamond watches is an important factor in increasing customer reach. These products have been seen to be a strong competitor in the hand jewelry market. Many women prefer gold and diamond watches to jewelries.

Product Insights

In 2018, mechanical products made up more than 75.0% of the market share. This product is preferred by large businesses because it can be worn as a fashion statement. The life expectancy of luxury mechanical watches is increased by using titanium ceramic coatings or PVD coatings. Rolex SA, A. Lange & Sohne, Apple Inc., and The Swatch Group Ltd. are some of the major players offering mechanical products.

The fastest growth rate for electrical products is 4.7% between 2019 and 2025. These companies are expanding their product range with smart watches that have advanced functionality like heart rate monitors, GPS capabilities and multisport tracking. These watches allow the consumer to track their speed and distance. Apple Inc. offers a variety of customizable watches, which allow customers to select color, material, and other features.

Distribution Channel Insights

The online channel will grow at 6.5% CAGR between 2019 and 2025. Online channels are used by consumers to buy premium products because of their value-added services, such as cash on delivery, secure transactions, and integrated and central customer services.

Online retail strategies are being adopted by key players to reduce operational costs and increase profits. Rolex Inc. and Fossil Group are strong online retailers. They also sell their products online to expand their market reach. This distribution channel allows manufacturers to sell their products globally.

In 2018, the offline category made up more than 85.0% of global revenue. This segment has seen a significant increase in sales due to consumers' increasing preference for high-end products sold in retail stores. It is also easier for consumers to determine the exact weight and size of the product in offline channels, such as convenience stores and supermarkets.

Regional Insights

Asia Pacific will be the fastest growing market. It is expected to grow at a 4.7% CAGR from 2019 to 2025. The market's growth will be boosted by changing consumer behavior and rising disposable income, particularly in developing countries like Japan and China. By understanding the market's potential, global luxury brands are expanding into India, China, and Japan. China was responsible for more than 45.0% of total revenue in Asia Pacific in 2018.

In 2018, Europe was responsible for more than 30.0% of global revenue. It is expected that the high concentration of buyers in developed countries such as Germany, France and Switzerland who are looking for products with distinctive characteristics and brand value will have a significant impact on global revenue. This region has been dominated by Swiss watchmakers.

According to the Federation of the Swiss Watch Industry (FoSWI), Switzerland produces more than 30 million watches per year. It accounted for approximately 2.5% of the global watch industry share in 2018, 2018. This region is very fond of the ChronoBase platform. To register watches, people prefer to buy digital certificates that are based on Chrono ethereum. This digital certificate instantly confirms the owner's identity, origin, and service history.

Market Share Insights & Key Companies

A. Lange & Sohne, Rolex SA, Apple Inc., The Swatch Group Ltd. and Bernard are the key players in this market. ; FOSSIL GROUP INC.; CITIZEN, Seiko; CASIO and Audemars Piguet. To gain a competitive edge in the market, companies are developing new products.

In 2019, Rolex SA launched 6 new models, including YACHT master 42 and GMT master II. Day date 60, date only 36 and 31 are just a few examples. A. Lange & Sohne also launched the 2019 debuts collection with 5 new models, including Lange 1, Zeitwerk Date and Langematik Perpetual honey gold, Langematik Perpetual Tourbillion, Langematik Perpetual Tourbillion, Langematik Perpetual Gold, and Richard Lange Jumping Seconds.

Luxury Watch Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at all levels, including country, regional and global. It also provides analysis of industry trends for each sub-segment from 2015 to 2025. Grand View Research segmented the global luxury watches market report based on product, distribution channel and region.

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Mechanical

  • Electronic

• Distribution Channel Outlook (Revenue USD Billion, 2015-2025)

  • Online

  • Offline

• Regional Outlook (Revenue USD Billion, 2015-2025)

  • North America

    • U.S.

  • Europe

    • U.K.

  • Asia Pacific

    • China

    • Japan

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa

These are the most frequently asked questions about this report

b. The luxury watch market in the world was valued at USD 7.18 billion in 2019, and will reach USD 7.48 trillion in 2020.

b. Global luxury watch markets are expected to expand at a compound annual rate of 4.3% between 2019 and 2025, reaching USD 9.28 billion in 2025.

b. With a 48.4% share in 2019, Asia Pacific was the dominant market for luxury watches. This is due to changing consumer behavior and increasing disposable incomes, especially in emerging economies like Japan and China.

b. Rolex SA and A. Lange & Sohne are some of the key players in the luxury watch market.

b. Key factors that are driving the market growth include rising preference for luxury watches as a status symbol among adults worldwide, and increasing new product launches by internationally-reputed brands, including Titan, Sonata, and Rolex.

Up Market Research published a new report titled “Luxury Watch Market research report which is segmented by Product (Electronic, Mechanical), by Distribution Channel (Offline, Online), By Players/Companies INC; CITIZEN; Seiko; CASIO; and Audemars Piguet Companies are working on new product development to get a competitive advantage in the market, Rolex SA; A Lange & S¶hne; Apple Inc; The Swatch Group Ltd; Bernard; FOSSIL GROUP”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Luxury Watch Market Report Segments:

The market is segmented by Product (Electronic, Mechanical), by Distribution Channel (Offline, Online).

Luxury Watch Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Luxury Watch Market

Overview of the regional outlook of the Luxury Watch Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Luxury Watch Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Luxury Watch Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Electronic

                2. Mechanical

                1. Offline

                2. Online

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Luxury Watch Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Luxury Watch Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.