About Electric Clocks
An electric clock is a clock that is powered by electricity, as opposed to a mechanical clock that is powered by a hanging weight or a mainspring. These clocks are mostly used by individual consumers and corporate offices. The demand for merchandising is increasing as the popularity of electric clocks has grown hence increasing the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Electric Clocks is a Fragmented market due to the presence of less players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Electric Clocks 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.
Reida Precision (China), Koninklijke Philips N.V (Netherlands), NeXtime ( Netherlands), Chelsea Clock Company (United States), Electric Time Company, Inc.(United States), Lowes (United States), Wal-Mart (Canda), IKEA (Sweden) and Home Depot (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 EMAX (United States), FUDA (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Electric Clocks market by Type (Electromechanical Clocks, Electric Remontoire Clocks, Electromagnetic Clocks, Synchronous Clocks and Others), Application (Home Use, Commercial and Other) and Region.
On the basis of geography, the market of Electric 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, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Speciality Store will boost the Electric Clocks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Materiel, the sub-segment i.e. Wood will boost the Electric Clocks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Adoption of E-Commerce for Selling Electric Clocks
Market Growth Drivers:
Increasing Urbanization and Changing Consumer Lifestyle and Rising Demand for Innovative and Durable Product
Challenges:
Complex Integration for Designing the Clock
Restraints:
Fluctuating Raw Material Cost of these Clocks and Availability of Substitutes
Opportunities:
Rising Demand for Electric Clock in Developing Countries and Growing Acceptance for Electric Gadget in Emerging Countries
Market Leaders and their expansionary development strategies
In August 2023, Klydo, announced Karim Rashid as a featured artist for its Klydo Artist Collective, creating art for the new Klydoclock which recently launched on Kickstarter raising more than USD 200K dollars in 20 minutes.
Key Target Audience
Electric Clocks Manufacturers, Electric Clocks Suppliers/Distributors, Raw Material Suppliers and Potential Investors
About Approach
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.