Watches and Clocks Market Scope
Watches and clocks are an electronic or mechanical device, used for indication or measuring time which features a fixed numeral dial. Of late, manufacturers are entering the e-commerce scenario by setting up their own e-boutiques. Online sales of watches have witnessed considerable growth and the trend is expected to continue in upcoming years.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AcuRite (United States), SDI Technologies (United States), Brookpace Lascelles (United Kingdom), Newgate Clocks (United Kingdom), The White Company (United Kingdom), Westclox clocks (United States), La Crosse Technology (United States), Emerson Radio Corporation (United States), Oregon Scientific (United States), Philips Electronics (Netherlands), Swatch Group (Switzerland), Rolex (United Kingdom), Richemont (Switzerland), Fossil (United States), Citizen (Japan), Seiko (Japan), Patek Philippe (Switzerland), Casio (Japan), SONY (Japan), Chopard (Switzerland) and Audemars Piguet (Switzerland) |
CAGR | % |
Watches and Clocks is a fragmented market due to the presence of various players. The many changes within the industry underscore the fact that there is an increasingly more competitive landscape. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. is a fragmented market due to the presence of various players. The many changes within the industry underscore the fact that there is an increasingly more competitive landscape. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States, Swiss, Japanese and United Kingdom Vendors will contribute to the maximum growth of Global Watches and Clocks market throughout the predicted period.
AcuRite (United States), SDI Technologies (United States), Brookpace Lascelles (United Kingdom), Newgate Clocks (United Kingdom), The White Company (United Kingdom), Westclox clocks (United States), La Crosse Technology (United States), Emerson Radio Corporation (United States), Oregon Scientific (United States), Philips Electronics (Netherlands), Swatch Group (Switzerland), Rolex (United Kingdom), Richemont (Switzerland), Fossil (United States), Citizen (Japan), Seiko (Japan), Patek Philippe (Switzerland), Casio (Japan), SONY (Japan), Chopard (Switzerland) and Audemars Piguet (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Electrohome (Canada), Lumie (United Kingdom), Sangean (Taiwan), Movado Group (United States) and Kering (France).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Watches and Clocks market by Type , by Application (Display Time, Adornment, Collection and Other) and Region with country level break-up.
On the basis of geography, the market of Watches and Clocks 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, Switzerland, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In November 2023, SiTime Corporation is acquiring a number of time-related products from a semiconductor company. The company this week announced it has entered into an exclusive agreement with Aura Semiconductor to acquire its clock products and license all of its clock IP.
In May 2022, Omega launched their collection in early March this year, it was at the recent Watches & Wonders trade show in Geneva that the latest horological trends and spectacular timepieces were introduced. Most of these are limited edition with a waiting list to boot. Their exclusivity also means that prices are on request.
Influencing Trend:
Various Top Players are Launching Innovative Watch Design Every Year, Rising Popularity of Vintage Watches and Clocks Especially Among Watch Connoisseurs and Adoption of Online Sales Channels
Market Growth Drivers:
The Growing Penchant For Luxury Watches And Increasing Adoption Of Smartwatches and Rise in Disposable Income and Burgeoning Upper Middle Class in Various Emerging Economies Such as India, China, and Others
Challenges:
Excessive Presence of Counterfeit Products
Restraints:
High Prices of Luxury Watches and Clocks and Lack of Brand Awareness in Developing Countries
Opportunities:
Surging Demand for Sport Watches and Innovations in Digital Watches
Key Target Audience
Watches and Clocks Manufacturers, Distributors, Suppliers, Product Resellers and Others