About Wrist Watch
A wristwatch is a timepiece that is designed to be worn by a person. It is intended to keep on working regardless of the person's activities. A wristwatch is to be worn around the wrist, with the help of the attached straps or in the form of a bracelet. Wristwatches were worn by the military men near the end of the 19th century, when there was a need for synchronizing in the training exercises during the war, without enlightening the plans to the opponents through signaling. A wristwatch is way more than just a time-keeper. It is a sign of tradition and history enclosed in a showpiece with intense craftsmanship. Wristwatches have now days become a fashion accessory more than a requirement in the recent past due to the rise in mobile phones and other appliances which are replacing the basic functionality of watches.
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The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Wrist Watch market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Rolex (United Kingdom), Omega (Switzerland), Titan (India), TAG Heuer (Switzerland), Seiko (Japan), Timex Group (United States), Tissot (Switzerland), Casio (Japan), Tommy Hilfiger (Netherlands), Vacheron Constantin (Switzerland), Guess (United States), CARTIER (France), Fastrack (India) and DKNY (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Bell & Ross (France), Diesel (Italy) and Audemars Piguet (Switzerland).
AMA Research has segmented the market of Global Wrist Watch market by Type (Analog Watch, Digital Watch, Automatic Watch, Smart Watch, Luxury Watch and Others), Application (Keeping Track of Time, Fashion Quotient, Monitoring Day to Day Activities and Others) and Region.
On the basis of geography, the market of Wrist Watch has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Switzerland, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Brand Stores will boost the Wrist Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Men will boost the Wrist Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Ceramic will boost the Wrist Watch market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Increasing Focus of Consumers on the Beauty or Art of Any Product, Increase in the Tech Savvy Urban Population and Rising trend of Shifting towards the Latest Fashion among the Youth
Market Growth Drivers:
Growing Demands of Advanced and Efficient Wrist Watches, Advancement of Electronic Industry in Developing Countries and Rising Population has increased the Demand for the Wrist Watches
Availability of New Advanced Technologies and Growing Changes in the Economic Strategies
Growing Fluctuations in the Prices of Branded Wrist Watches and Strict Rules and Regulations by the Government
Market Leaders and their expansionary development strategies
On October 10th, 2019 - CASIO G-SHOCK partners with Herschel Supply for their first-ever watch release of a new military-inspired timepiece for Holiday 2019. This marks Herschel Supply’s first foray into the watch market. A favorite choice among the world’s top surfers, action sports athletes, and streetwear enthusiasts alike, Herschel re-imagines G-SHOCK’s signature GLX5600 model, borrowing elements from the traditional colors and utility through a military-inspired design.
On December 18th, 2019 - Rado created the True Thin line Toge in association with a renowned Japanese food artist and designer Ayako Suwa. Inspired by the famous pufferfish, the design features a distinctive textured dial, thorn-shaped hands and has a special Toge case back engraving. Toge means thorn in Japanese and the watch explores the tension between the natural beauty of the pufferfish, its deadly toxins and the fact that humans are naturally drawn to eat something delicious, beautiful and dangerous at the same time.
With the growing technology, smartwatches have now become capable of aiding with measurements and calibrations. Smart-watches can be used to deduce temperature, blood pressure, heart rate, steps, humidity, and many other such measurable factors. This has brought smartwatches and their business under the observation and regulation of the Legal Metrology Act of India. The Legal Metrology Department is responsible for ensuring that devices involved with the examination of measurements and weights must be reliable and their manufacture, sale, and service must be monitored by proper protocols and authorities. This ensures uniformity among caliber able metrics and also confirms that a user can rely upon the device. and On February 1st, 2018 - The government increased the import duty on luxury watches from 10% to 20% in India.
Key Target Audience
Manufacturers of Wrist Watches, Suppliers of Wrist Watches, Wholesalers, Distributors, and Retailers of Wrist Watches, Electronic Industry, Watch Industry and Governmental Bodies
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.