SAN FRANCISCO, July 10, 2019 /PRNewswire/ -- The global watches market size is expected to reach USD 117.8 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.0% over the forecast period. Rising importance of smart watches as a key wearable device that provides exceptional functionality to paired up with Bluetooth and near field characteristics (NFC) is expected to prompt the product's consumption among the buyers. Furthermore, growing popularity of weight management among sports enthusiasts and gym professionals as a result of increasing concerns over heart diseases and obesity is expected to fuel the demand for smart watches for body activity monitoring.
Key suggestions from the report:
- North America accounted for more than 30.0% share of the overall revenue in the year 2018
- The fitness product segment generated a revenue of more than USD 10.0 billion in 2018
- By operation, quartz accounted for 70.8% share of the overall revenue in 2018
- Online channel is expected to expand at a CAGR of 14.0% from 2019 to 2025
- Key manufacturers in watches market include Rolex SA, Oakley, Inc.; Omega SA; Apple Inc.; Patek Philippe SA; and Titan Company Limited. Product launches are expected to remain a critical success factor over the next few years
- In March 2018, Citizen launched two new products from CAMPANOLA with product name NZ0000-15F and AH7060-53F featuring traditional Japanese "Urushi" lacquerware dial created by master artisans.
Read 80 page research report with TOC on "Watches Market Size, Share & Trends Analysis Report By Product (Smart, Fitness), By Distribution Channel (Hypermarket/Supermarket, Online), By Operation, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/watches-market
Asia Pacific is expected to expand at a CAGR of 13.9% from 2019 to 2025. Improvement in economic indicators including increasing disposable income and urbanization in the countries including China, India, and Malaysia is projected to upscale the requirement of watches. Furthermore, increasing number of supermarkets in these countries in light of favorable government policies for promoting investments in the manufacturing and retail sectors on a domestic level is expected to ensure the product's access in the near future.
The industry is growing rapidly as the vast features offered by these products is attracting more customers. Features including GPS, distance tracker, health tracker, speakers, and Bluetooth connectivity are giving smart watches an upper hand in terms of preference among the customers. The majority of watches are available in the form of quartz product types. In October 2017, Tag Heuer announced its partnership with Enjoy, a startup company by Ron Johnson that specializes in custom tailored and home delivery watches called Personal Atelier.
Grand View Research has segmented the global watches market on the basis of product, operation, distribution channel, and region:
- Watches Product Outlook (Revenue, USD Billion, 2015 - 2025)
- Watches Operation Outlook (Revenue, USD Billion, 2015 - 2025)
- Watches Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Convenience Stores
- Watches Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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