Market Research Report
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
|Published by||TechSci Research||Product code||998628|
|Published||Content info||114 Pages
Delivery time: Inquiry
|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|
|Published: April 1, 2021||Content info: 114 Pages||
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:
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:
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:
The Swatch Group Ltd
Casio Computer Co., Ltd
Citizen Watch Co. Ltd.
Fossil Group Inc.
Global Watch Market, By Region:
Middle East & Africa
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: