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Watches and Clocks - Global Market Trajectory & Analytics

  • ID: 354892
  • Report
  • February 2022
  • Region: Global
  • 795 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Apple, Inc.
  • Cartier International SNC
  • Citizen Watch Co., Ltd.
  • Google, Inc.
  • Kering
  • Patek Philippe SA

Global Watches and Clocks Market to Reach $73.4 Billion by 2027


Amid the COVID-19 crisis, the global market for Watches and Clocks estimated at US$60.5 Billion in the year 2020, is projected to reach a revised size of US$73.4 Billion by 2027, growing at aCAGR of 2.8% over the period 2020-2027. Quartz, one of the segments analyzed in the report, is projected to record 2.3% CAGR and reach US$48.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mechanical segment is readjusted to a revised 3.9% CAGR for the next 7-year period.



The U.S. Market is Estimated at $12.3 Billion, While China is Forecast to Grow at 4% CAGR


The Watches and Clocks market in the U.S. is estimated at US$12.3 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$7.9 Billion by the year 2027 trailing a CAGR of 4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.

Select Competitors (Total 329 Featured) -

  • Apple, Inc.
  • Audemars Piguet Holding SA
  • Breitling SA
  • Casio Computer Co., Ltd.
  • Chelsea Clock Company
  • Chopard
  • Citizen Watch Co., Ltd.
  • Bulova Corporation
  • Frederique Constant S.A.
  • Citychamp Watch & Jewellery Group Limited
  • Compagnie Financière Richemont SA
  • Cartier International SNC
  • Montblanc-Simplo GmbH
  • Fossil Group, Inc.
  • Garmin Ltd.
  • Google, Inc.
  • Hermes International S.A.
  • Howard Miller
  • Kering
  • Gucci Group
  • LVMH Moet Hennessy Louis Vuitton SA
  • Bulgari S.p.A.
  • TAG Heuer International SA
  • Movado Group, Inc.
  • Patek Philippe SA
  • Rhythm Watch Co., Ltd.
  • Rolex SA
  • Samsung Electronics Co., Ltd.
  • Seiko Holdings Corporation
  • The Swatch Group Ltd.
  • Omega
  • Tissot SA
  • Timex Group USA, Inc.
  • Timex Group India Ltd.
  • Titan Industries Ltd.
  • Uhrenfabrik Junghans GmbH & CO.KG
Frequently Asked Questions about the Global Market for Watches and Clocks

What is the estimated value of the Global Market for Watches and Clocks?

The Global Market for Watches and Clocks was estimated to be valued at $60.5 Billion in 2020.

What is the growth rate of the Global Market for Watches and Clocks?

The growth rate of the Global Market for Watches and Clocks is 2.8%, with an estimated value of $73.4 Billion by 2027.

What is the forecasted size of the Global Market for Watches and Clocks?

The Global Market for Watches and Clocks is estimated to be worth $73.4 Billion by 2027.

Who are the key companies in the Global Market for Watches and Clocks?

Key companies in the Global Market for Watches and Clocks include Apple, Inc., Audemars Piguet Holding SA, Breitling SA, Casio Computer Co., Ltd., Chelsea Clock Company, Chopard, Citizen Watch Co., Ltd., Bulova Corporation and Citychamp Watch & Jewellery Group Limited.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Apple, Inc.
  • Cartier International SNC
  • Citizen Watch Co., Ltd.
  • Google, Inc.
  • Kering
  • Patek Philippe SA

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • World Market Trajectories
  • 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
  • Global Watches Market by Price Category (in %) for 2019
  • Luxury Watches and Smartwatches Support Growth of Watches Market
  • Global Swiss Watch Market: Percentage Breakdown of Value and Unit Sales by Material for 2019
  • While Developed Regions Lead Revenue Generation, Developing Regions Emerge as Hot Spots of Future Growth
  • Prevailing Economic Conditions Impact Watches and Clocks Market Dynamics
  • Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2019-2021
  • Import Export Data
  • Leading Exporters of Swiss Watches Worldwide Ranked by Export Volume in Units for 2019
  • Leading Watch Importing Nations Worldwide: Ranked by Import Value in US$ Billion for the Year 2019
  • Impact of COVID-19 and Looming Economic Recession
  • Luxury Wristwatches Market Set to Decline amidst COVID-19 Crisis
  • Online Channels: A Possible Way Out for Luxury Watchmakers
  • Smartwatch Industry and COVID-19 Crisis
  • Competitive Landscape
  • Watches: A Highly Competitive Marketplace
  • Top Global Watch Brands
  • Key Competitors in the Luxury Watches Domain
  • Swiss Watches Global Competitor Share Positioning for 2019
  • Smartwatches: Apple Continues to Lead the Market
  • Global Smartwatch Market: Percentage Breakdown of Unit Shipments by Company for 2019
  • Sports & Fitness Watches Market
  • Global Sports Watches Market: Percentage Breakdown of Sales by Leading Companies for 2019
  • Global Swim Watches Market: Percentage Breakdown of Sales by Leading Companies Brand for 2019
  • Social Media Evolves into Core Business Tool for Vendors
  • Watch Brands Expand Presence into Online Retail Channel
  • Mobile e-Commerce: A Game Changer
  • Collaborations on the Rise
  • M&A Activity: Strategy to Expand Business Activities
  • Recent Market Activity
  • Watches and Clocks - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. 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 2019
  • Luxury Watch Market in the US: Percentage Breakdown of Value Sales by Product for 2019 and 2025
  • Global Luxury Watch Market: Percentage Breakdown of Sales by Distribution Channel for 2019
  • Swiss Watches: The Primary Luxury Watch Category
  • Global Swiss Watch Exports: Percentage Breakdown of Export Value by Region for 2019
  • Global Swiss Watch Exports: Percentage Breakdown of Export Volume and Value by Type for 2019
  • Affluent Millennials Transform Luxury Watches Market
  • Global Millennial Population Facts & Figures: Important Opportunity Indicators
  • Global Millennials Population Spread by Region (in %): 2018
  • Millennial Population as a Percentage (%) of Total Population in Developing Countries: 2018
  • 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 Goods Sales Worldwide in US$ Billion for the Years 2019, 2021, 2023 and 2025
  • Global Personal Luxury Goods Market: Percentage Breakdown of Revenues by Region for the Years 2019 and 2025
  • Global Luxury Goods Market: Percentage Breakdown of Revenues by Product Category for 2019
  • Luxury Brands Differentiate Even in Digital Transition Efforts
  • Popularity of Intelligent Wristwear for Digitally Connected and Mobile Individuals Augurs Well for Smartwatches Market
  • Global Smartwatches Market: Shipments in Million Units for the Years 2019, 2021, 2023 and 2025
  • 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
  • Global Sports Watches Market: Shipments in Million Units for the Years 2017, 2019, 2021 and 2023
  • 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
  • World Population (in Thousands) by Geographic Region for the Years 2019, 2030, 2050, 2100
  • Top Countries Worldwide in Terms of Population in Millions for the Years 1990, 2019 and 2050
  • Urbanization Trend Boosts Market Prospects
  • World Urban Population in Thousands: 1950-2050P
  • Degree of Urbanization Worldwide: Urban Population as a % of Total Population by Geographic Region for the Years 1950, 1970, 1990, 2018, 2030 and 2050
  • Percentage of Urban Population in Select Countries for 2018, 2020, 2030, 2040 and 2050
  • Improving Standards of Living: A Key Growth Driver
  • Global Middle Class Population (In Million) by Region for the Years 2020, 2025 and 2030
  • Global Middle Class Spending (US$ Trillion) by Region for the Years 2020, 2025, 2030
  • 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

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • United States: A Major Market for Watches and Clocks
  • United States Watches Market: Percentage Breakdown of Value Sales by Price Category: 2019
  • Key Watch Purchasing Trends in the US
  • Luxury Watches Market: COVID-19 Brings to Halt the Segment’s Recovery
  • Number of Millionaire Households in the US (in Millions) by Wealth for 2019
  • Millennials Emerge as a Promising Consumer Category for Luxury Watches
  • Fine Jewelry & Watches Sales Aid Luxury Watches Market
  • Swiss Make Luxury Watches Remain the Top Choice
  • Quartz Analog and Mechanical Watches Sustain Market Growth
  • Bigger-Sized Watches Enjoy Rising Popularity in the US
  • Growing Prominence of E-Commerce and Company-owned Retail Benefit Luxury Watch Sales
  • Distribution Channels
  • US Sports Watch Market: Percentage Breakdown of Value Sales by Distribution Channel for 2019
  • US Clocks Market: Percentage Breakdown of Value Sales by Distribution Channel for 2019

CANADA

  • Market Overview
  • Competitive Scenario
  • Canadian Watch Market Share in % by Company for 2019

JAPAN

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Japan: A Prime Producer, Consumer and Exporter of Watches and Clocks
  • Japanese Watch Market by Price Category (in %) for 2019
  • Japanese Watch Market: Percentage Breakdown of Unit Production Volume by Type for the Years 2015 and 2019
  • Japanese Watch Market: Percentage Breakdown of Production Value by Type for the Years 2015 and 2019
  • Japanese Clocks Market: Percentage Breakdown of Production Volume by Type for the Years 2015 and 2019
  • Japanese Clocks Market: Percentage Breakdown of Production Value by Type for the Years 2015 and 2019
  • Innovations Play an Important Role in the Japanese Watch Market
  • Japanese Watchmakers Make a Push to Capture Share of Luxury Watches Market
  • Casio, Citizen and Seiko: The Japanese Watch Trio
  • Japanese Watch Market: Percentage Breakdown of Value Sales by Leading Players for 2019
  • Competition from Foreign Brands Heats Up

CHINA

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China: A Market Laden with Opportunities
  • Watch Market in China: Snapshots
  • Chinese Watches Market by Price Category (in %): 2019
  • China’s Young and Affluent Consumers Lead Growth of Luxury Watch Market
  • Increasing Affluence of Chinese Individuals: Wealth per Adult in US$ for the Years 2002, 2006, 2010, 2014 and 2018
  • Luxury Goods Market in China: Percentage Breakdown of Value Sales by Product Category for 2017
  • Consumer Behavior and Purchasing Patterns in China
  • Major Factors and Trends Influencing the Luxury Goods Market in China
  • Disposable Incomes
  • Per Capita Disposable Income of People (in RMB) in Urban China for the Period 2010-2018
  • Per Capita Disposable Incomes of People (in RMB) by Select Provinces in China for the Year 2018
  • Demand Rises in Smaller Cities
  • Post-90s Generation: A Major Driver of Luxury Products
  • Popularity of Affordable Luxury Goods
  • Increasing Sophistication of Luxury Consumers
  • Popularity of Haitao and Establishment of Free Trade Zones
  • Tourist Spending
  • Factors Considered by Consumers When Purchasing Luxury Watches
  • Primary Strategies Adopted by Luxury Retailers
  • Building Up Online Presence and Leveraging Social Platforms
  • Incorporation of Traditional Elements to Attract Consumers
  • Creating Engaging In-Store Experiences
  • Increasing Demand for Swiss Luxury Watches in China
  • Growth of Pre-Owned Watch Market in China Disrupts Global Watch Industry
  • Competitive Scenario
  • Entry Barriers Low for the Chinese Watch Industry
  • Distribution Channels
  • Chinese Watch Imports: Breakdown of Import Value by Country for 2018
  • Online & e-Commerce Platforms Emerge as High-Potential Distribution Channels

EUROPE

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • A Mature Market
  • European Watches Market by Price Category for 2019
  • Pre-Owned Luxury Watches Market Gains Traction

FRANCE

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Market Overview
  • Leading Watch Brands in France: Ranked by Number of Users in Thousands for 2018

GERMANY

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview
  • Competitive Scenario

SPAIN


RUSSIA

REST OF EUROPE

  • An Overview of Select Regional Markets
  • Sweden
  • The Netherlands
  • Poland
  • Romania
  • Switzerland
  • A Leading Watch Market
  • The Global Hub for Luxury Watches
  • Classification of Swiss Luxury Watches
  • An Exports Driven Market
  • Swiss Watch Export Value in CHF Billion for the Years 2000, 2005, 2010, 2015 and 2019
  • Brief Description of Globally Popular Swiss Watch Brands
  • Asian Countries Emerge as Leading Export Destinations for Swiss Watches
  • Competitive Scenario
  • Switzerland Faces Severe Shortage of Skilled Craftsmen
  • Swiss Watch Industry Comes Up with Initiatives to Counter Fake Products
  • Turkey

ASIA-PACIFIC

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Asia-Pacific Watches and Clocks Market: An Overview
  • Asia-Pacific Watches Market by Price Category (in %) for 2019

AUSTRALIA

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
  • Market Overview
  • Smartwatch Market Continues to Make Strong Gains
  • Competitive Scenario

INDIA

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • India: A High Growth Market
  • Popularity of Luxury Watches Rises among Affluent Indians
  • Smartwatches Gain Popularity among Indian Consumers
  • Rising Popularity of Bespoke Watches
  • Clock Manufacturers Offer Customized Wall Clocks to Counter Competition from Electronic Gadgets
  • Noteworthy Watch Brands in India
  • Titan: The Leading Watch Brand
  • Other Major Brands

SOUTH KOREA

REST OF ASIA-PACIFIC

  • Overview of Select Regional Markets
  • Hong Kong
  • Hong Kong: Among the Leading Exporters of Watches and Clocks
  • Market Snippets
  • Hong Kong Protests Slows Down Swiss Watch Industry
  • Pre-owned Luxury Watch Market in Hong Kong
  • Popularity of Wearable Technology Drives Demand for Smartwatches
  • Active Efforts by Manufacturers to Ensure Quality and Boost Sales
  • Impact of CEPA Provisions
  • Key Directives for Watch Makers
  • Alloys, Titanium, Ceramic, and Other Materials Witness Increasing Popularity
  • Distribution Landscape
  • Indonesia
  • Singapore
  • Philippines
  • Thailand

LATIN AMERICA

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL

MEXICO

  • Market Overview
  • New Players Boost Watches Sales
  • Luxury Watch Market in Mexico: Market Share (in %) by Company for 2018

REST OF LATIN AMERICA

MIDDLE EAST

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
  • Market Overview

IRAN


ISRAEL


SAUDI ARABIA

UNITED ARAB EMIRATES

  • Market Overview
  • Luxury Watches: A High Potential Market

REST OF MIDDLE EAST

AFRICA

  • Watches and Clocks Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
  • Consumer Spending Levels Dictate Demand Trends in South Africa

IV. COMPETITION

  • Total Companies Profiled: 329
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Apple, Inc.
  • Audemars Piguet Holding SA
  • Breitling SA
  • Casio Computer Co., Ltd.
  • Chelsea Clock Company
  • Chopard
  • Citizen Watch Co., Ltd.
  • Bulova Corporation
  • Frederique Constant S.A.
  • Citychamp Watch & Jewellery Group Limited
  • Compagnie Financière Richemont SA
  • Cartier International SNC
  • Montblanc-Simplo GmbH
  • Fossil Group, Inc.
  • Garmin Ltd.
  • Google, Inc.
  • Hermes International S.A.
  • Howard Miller
  • Kering
  • Gucci Group
  • LVMH Moet Hennessy Louis Vuitton SA
  • Bulgari S.p.A.
  • TAG Heuer International SA
  • Movado Group, Inc.
  • Patek Philippe SA
  • Rhythm Watch Co., Ltd.
  • Rolex SA
  • Samsung Electronics Co., Ltd.
  • Seiko Holdings Corporation
  • The Swatch Group Ltd.
  • Omega
  • Tissot SA
  • Timex Group USA, Inc.
  • Timex Group India Ltd.
  • Titan Industries Ltd.
  • Uhrenfabrik Junghans GmbH & CO.KG
Note: Product cover images may vary from those shown